Latest finance news – Page 537
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NewsHMV to shut 60 stores as it issues profit warning
HMV has outlined plans to shut 60 of its HMV and Waterstone’s stores in the next 12 months as sales have continued to fall over the Christmas trading period and the retailer warned on profits.
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NewsBlacks reports strong December sales
Blacks Leisure performed “very strongly” in December with like-for-like sales in its outdoor business up 10.2% for the month.
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NewsJJB to ask shareholders for further £50m
Troubled sports chain JJB Sports is expected to ask investors for a further £50m following the £31.5m promised before Christmas, according to reports over the weekend.
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NewsAsda reports "good" Christmas performance
Asda has reported a “good performance” in the run-up to Christmas, despite Arctic weather conditions.
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NewsITV man to be HMV FD
HMV Group has appointed David Wolffe, the finance director of ITV Studios, as its new finance director
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NewsBill Gates rides to JJB Sports' rescue as Clare stands down
JJB Sports has this morning disclosed details of a £31.5m cash call, boardroom changes and a further sales slump.
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NewsJJB Sports to launch £30m fundraising
Sports specialist JJB Sports is to stage a £30m fundraising and make boardroom changes, it is understood.
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NewsTesco buys 128 stores in Czech Republic for £34.3m
Tesco has acquired 128 convenience stores in the Czech Republic for 1.02bn koruna (£34.3m), bolstering its operations in central Europe.
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NewsDFS reports first quarter earnings flat at £15.2m
DFS, the specialist sofas retailer owned by private equity firm Advent, has posted flat earnings in its first quarter.
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NewsSale of Phones4U falls through
Private equity group Providence has pulled the sale of mobiles specialist Phones4U after turbulent debt markets undermined a deal.
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NewsSnow fears unjustified, broker Arden argues
Concerns about the impact of snow on retailers’ Christmas performance look overdone, Arden analyst Nick Bubb believes.
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NewsKidswear etailer AlexandAlexa to expand overseas after £1.5m investment
Venture capital firm MMC Ventures has invested £1.5m in luxury childrenswear etailer AlexandAlexa which will be used to drive international expansion.
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NewsDixons, Home Retail and HMV among most at risk from snow disruption
Electricals group Dixons, Argos-owner Home Retail Group and entertainment specialist HMV are among the retailers most likely to be affected by snow and icy conditions broker Numis believes.
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NewsAlexon warns on profits after snow takes toll
Womenswear group Alexon, owner of chains including Ann Harvey and Kaliko, revealed profits will fail to meet expectations after Arctic weather disrupted peak trading.
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NewsReiss' recession initiatives boost EBITDA
Reiss said its sub-brand launch 1971 Reiss and its revamped website helped UK EBITDA to rise 7% to £9.1m for the year to January 31 2010.
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NewsBurberry's Angela Ahrendts awarded £5.6m in shares
Angela Ahrendts, chief executive of luxury British retailer and brand Burberry, has been awarded £5.6m of bonus shares.
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NewsTesco's Higginson sells £1m of shares
Tesco boss Andrew Higginson has offloaded a tranche of shares in the top grocer.
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NewsSales and margins up at Moss Bros
Menswear group Moss Bros reported sales and margins were up as chief executive Brian Brick’s improvement programme for the retailer continued.
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NewsFull-price purchases help Mulberry profits rocket
Luxury retailer Mulberry’s profits soared in its first half, when a higher proportion of sales were made at full retail price during the spring season and there was less reduced stock in the Sale.
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NewsMothercare to capitalise on overseas promise
Maternity specialist Mothercare aims to double its international sales by 2014 as its UK business continues to find the going tough.