Latest finance news – Page 558
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NewsCarpetright eyes sales boost ahead of January VAT rise
Carpetright expects a sales fillip this autumn as consumers buy ahead of January’s VAT rise, and has posted an increase in preliminary profits.
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NewsTheo Fennell set to shine again after cutting losses
Upmarket jeweller Theo Fennell is on track to return to profit next year following a restructure, the return of its eponymous founder and plans to launch an affordable range.
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NewsBeales on a roll as profits leap 67%
Department store group Beales is poised to roll out men’s young fashion departments into all stores and make further acquisitions following a leap in pre-tax profits.
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NewsMatalan reaps rewards of investment
Value fashion and homewares retailer Matalan has reported a 30% increase in profits, driven by investment in products, stores and people.
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NewsDisney insists sparkle will return despite dip
Disney Stores has slipped back into the red in the year to October 3 after posting a pre-tax loss of £11.3m compared with a profit of £2.8m the year before.
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NewsBig-ticket retailers plan to turn timing of the VAT increase to their advantage
Big-ticket retailers are putting plans in place to capitalise on the timing of the VAT increase that takes effect on January 4.
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NewsTom Hunter puts shoe chain Office up for sale with £200m price tag
Retail entrepreneur Sir Tom Hunter has put his footwear chain Office up for sale, with a potential price-tag of £200m.
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NewsGrocers face muted growth, warns Bond
Asda chairman Andy Bond has cautioned that grocers face “two years of muted growth” as shoppers continue to tighten their belts in the tough climate.
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NewsDebenhams posts like-for-like sales fall and acquires 115 Faith concessions
Department store group Debenhams has reported a like-for-like sales fall of 0.4% for the 42 weeks to June 19 and has agreed to buy bust footwear retailer Faith’s concessions.
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NewsActivist investor builds stake in Kesa
Activist investor Knight Vinke has built up a 3% stake in Anglo-French electricals retailer Kesa, owner of the Darty and Comet chains.
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NewsCarpetright profit surges as UK business improves
Carpetright pretax profit grew from £16.7m to £22.3m in the year to May 1.
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NewsLiberty chief executive Geoffroy de La Bourdonnaye steps down
Liberty chief executive Geoffroy de La Bourdonnaye has stepped down from the premium London department store, following its sale to private equity firm BlueGem Capital Partners.
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NewsWarren Buffett increases stake in Tesco
Legendary investor Warren Buffett has increased his stake in supermarket group Tesco and now holds just over 3% of the grocer’s shares.
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NewsStruggling Game warns of loss in first half
Continued declining sales and a likely interim loss at computer entertainment specialist Game prompted downgrades by analysts.
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NewsRetailers in favour despite hike in VAT
Retailers can live with the effects of Tuesday’s emergency Budget: that was the snap judgement of store chiefs and investors alike to the Chancellor’s announcement.
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NewsFurniture Village bucks trend to more than double pre-tax profit
Furniture Village has more than doubled its profit before interest and tax from £2.4m to £5.4m in the year to March 2010 - but has warned that the outlook for the current year remains tough.
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NewsOcado presses button on IPO
Home shopping group Ocado is to float on the London Stock Exchange after interim EBITDA surged 181% to £8m.
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NewsPrivate equity house Isis invests £4m in gifts etailer GettingPersonal.co.uk
Private equity house Isis has invested £4m in online gifts retailer GettingPersonal.co.uk.
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NewsRobert Tchenguiz trust to hand over £137m Somerfield proceeds to Kaupthing administrators
A trust connected to investment tycoon Robert Tchenguiz has abandoned its legal fight to retain £137m of proceeds from the sale of grocer Somerfield.
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NewsH&M profits soar 25% in the second quarter
Swedish fashion group H&M reported a 24% rise in profit for the second quarter of the year.