Latest finance news – Page 538
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NewsHMV cautious over Christmas trade after poor interim results
HMV disappointed the City last week with worse-than-expected interim results and cautious comments about the crucial Christmas trading period after snow hit sales.
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NewsStakebuilders spot an opportunity in retail
Retail shares, like the temperature, dipped below zero as the big freeze was reflected in icy investor attitudes towards stores on fears that trading will suffer in the golden period.
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NewsHampers group Park makes first-half profit
Half-year sales at hampers and Christmas savings specialist Park Group rocketed as hard-pressed consumers increasingly put money aside for the festive period.
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NewsJessops on course to make EBITDA profit
Camera specialist Jessops expects to make an EBITDA profit in the year to January 2, after making a £41m loss last year. The retailer has also bolstered its management team as it gears up for growth.
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NewsBig-ticket retailers race to start Sales before the VAT rise hits
DIY and furniture retailers confident about early start to January Sales but cautious about early 2011
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NewsChristmas on ice
High street could benefit at the expense of out-of-town shops if the bad weather continues
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NewsSuperGroup shares hit by margin fears
Julian Dunkerton, chief executive of fashion retailer SuperGroup, has played down the impact of rising cotton prices after its shares plummeted by about 15% on Wednesday despite posting an 86.4% hike in pre-tax profits to £14.6m for the first half of the year.
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NewsLaura Ashley sales rise despite snow
Furniture and fashion retailer Laura Ashley like-for-likes grew 2.7% in the 19 weeks to December 11.
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NewsFranchise model insulates United Carpets from harsh trading conditions
United Carpets has posted a fall in first-half profits but labelled performance “solid” in the tough trading environment.
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NewsTesco poised to start search for new chairman
Tesco is preparing to start the search for a new chairman to replace David Reid.
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NewsSports Direct profits surge
Sports market leader Sports Direct notched up a 40% rise in underlying pre-tax profits following a lucrative World Cup.
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NewsProfits jump at Zara-owner Inditex as its expansion pays off
Zara-owner Inditex net profit increased 42% to €1.2bn (£994m) in the nine months to October 31 across the fashion group, which also owns Massimo Dutti and Bershka.
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NewsRussian tycoon Mamut increases HMV stake
Russian oligarch Alexander Mamut yesterday increased his holding in troubled entertainment retailer HMV.
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NewsBusiness rates revamp under Localism Bill
Local authorities will have greater control over setting business rates under new powers proposed in the Localism Bill.
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NewsWickes sales grow as shoppers buy ahead of VAT rise
DIY chain Wickes like-for–likes grew 0.6% in the 47 weeks to November 27 with turnover up 2.7%.
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NewsCarpetright profit slides
Carpetright group pretax profit fell from £11m to £9.8m in the 26 weeks to October 30.
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NewsPPR scotches Burberry takeover talk
French luxury goods group PPR, the business behind brands including Gucci, Stella McCartney and Alexander McQueen, has quashed speculation that it intends to acquire British luxury retailer and brand Burberry.
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NewsPhones4U deal likely to be valued below £700m
Private equity firm BC Partners is likely to pay less than the £700m anticipated for Phones4U by present owner Providence Equity Partners.
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NewsRetail gets the thumbs up as it outperforms
Investors filled their shopping trolleys with general retail and food stocks alike. The former outperformed the market despite lacklustre BRC sales data for November but are still down year on year.
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NewsN Brown’s US debut shows potential
N Brown’s entry into the US market could add 15% to 30% to the top line in the medium term, broker Panmure Gordon wrote after a meeting with management.