Latest finance news – Page 551
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NewsSector fears cause general retailers to be downgraded
Broker Singer has downgraded forecasts for 17 general retailers by up to 10% because of fears about sector prospects.
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New Poundworld stores help sales to rocket 40%
Poundworld, the Yorkshire-based single-price retailer, reported a 40% surge in sales in its last financial year owing to new store openings and the VAT reduction.
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NewsWorld Cup boosts Dixons sales
Electricals group Dixons Retail, owner of the Currys and PC World chains, has reported a good start to the year helped by the World Cup and demand for iPads.
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NewsMountain Warehouse deal values store group at £50m
Private equity firm LDC acquires stake in fast-growing outdoor gear specialist
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NewsDwell secures £5m funding to aid expansion plans
Furniture retailer Dwell has secured £5m in private equity investment from Key Capital Partners to aid expansion plans.
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NewsAmerican Apparel UK’s future in the balance amid liquidity fears
Restructuring specialists Hilco and GA Asset advisors are circling the UK arm of US fashion retailer American Apparel as the future of the retailer hangs in the balance.
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NewsAppetite for grocers up despite FTSE 100 woes
As the FTSE 100 took a hit on renewed fears of a double-dip recession, investor appetite for food retailers was keener than for general merchandise groups.
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NewsOcado shares continue to freefall
Ocado has suffered a disappointing first month of trading on the London Stock Exchange, with its shares losing 20.7% of their value.
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Pawnbrokers continue to cash in with bigger profits
Pawnbrokers have continued to benefit from the downturn, results from H&T and Cash Converters indicated this week.
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NewsFreemans thinks big as it returns to profit
Home shopping group Freemans Grattan Holdings claims it has returned to profit after a major business restructuring, and plans to launch a plus-size offer for customers early next year.
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NewsDisruption at new warehouse set to hold back Halfords’ sales
Supply chain difficulties following move to centralise distribution set to hit retailer’s Q2 like-for-likes
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NewsProfits improve at The Body Shop
The Body Shop more than doubled profits in its second half, reaching €13.6m (£11.1m) in the six months to June 30, compared to €6.3m (£5.1m) for the same period the year before.
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NewsH&T profits soar as retail sales rise
Pawnbroker H&T said that pre-tax profits soared 70.6% in the six months to June 30 with retail sales up 22% for the period to £8.6m.
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NewsSwannell to remain chairman of HMV
Robert Swannell will stay on as chairman of entertainment retailer HMV despite agreeing to take up the same position at Marks and Spencer next year.
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NewsSir Stuart Rose to stand down from Marks & Spencer in January, Robert Swannell confirmed as successor
Sir Stuart Rose will be succeeded by Robert Swannell as chairman of Marks & Spencer on January 4 next year.
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NewsFenwick awards £3.8m dividend despite falling profits
The Fenwick family, owners of the eponymously-named chain of luxury department stores, will receive a dividend of £3.8m despite a drop in both sales and pre-tax profit at their 11 outlets during 2009.
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NewsNew Marks & Spencer chairman to get £500,000
Marks & Spencer’s new chairman could be paid around 40% less than current chairman Sir Stuart Rose according to reports.
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NewsRobert Swannell tipped to become chairman of Marks & Spencer
HMV chairman Robert Swannell is being tipped to take the same role at Marks & Spencer.
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NewsBook Depository sales up as it targets overseas
Online bookseller The Book Depository’s revenue soared 20% to £74.2m in the year to June 30 as the etailer focused on overseas territories.
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NewsMothercare undervalued despite poor UK showing
Panmure Gordon has initiated its coverage of nursery specialist Mothercare with a buy rating and a 600p price target.