Latest finance news – Page 559
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NewsProfits up at DSGi after strong second half
Electricals giant DSG International grew underlying profits by 61% to £90.5m in the year to 1 May, helped by a much-improved second-half performance.
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NewsWilkinson full year profits rocket
Value chain Wilkinson has had another strong year with profits more than doubling in the year to January 29.
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NewsComet to refurbish stores after profits rise
Electricals retailer Comet is to refurbish 40 stores his year as it seeks to respond to the revival of arch-rival DSGi and the touchdown of US powerhouse Best Buy.
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NewsSuperdry brings online outlet in-house
SuperGroup, the young fashion business which owns brands Superdry and chain Cult, has brought its online outlet for Superdry in-house as it looks to boost its online sales.
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NewsB&Q to open small city centre stores
DIY retailer B&Q intends to open small-format city centre stores in the UK after the success of similar pilot stores run by parent Kingfisher overseas.
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NewsFindel profits reduced after accounting errors found
Home shopping firm Findel has said its full-year profit will be reduced by £6.4m after it found accounting errors in its education division.
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NewsOcado to push button on float this week
Ocado is gearing up to push the button on its plans for a £1bn stock market flotation this week, it is understood.
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NewsPrivate equity firm acquires Republic
Branded fashion chain Republic has been sold to private equity house TPG for £300m.
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NewsTesco faces AGM revolt over pay
Tesco faces the prospect of an investor revolt at its AGM next month over “excessive” executive pay, singling out US boss Tim Mason as an example.
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NewsMajestic Wine’s broadened appeal drives sales up
Majestic Wine is confident it will continue to widen its appeal and forge growth despite the difficult climate, after it posted a 117% lift in pre-tax profits to £16m.
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NewsCity takes Q1 grocery slowdown in its stride
Grocers lagged the market as lower food price inflation contributed to lacklustre first-quarter like-for-like growth at Sainsbury’s and Tesco - 1.1% in each case before the VAT change is taken into account.
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NewsBack to black for Space NK with customers ‘cautiously optimistic’
Beauty specialist Space NK has pulled itself out of the red with pre-tax profits in the year to April 30 of £270,000, against a pre-tax loss of £1.4m the previous year.
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NewsFeather & Black set for new phase of growth
Bed specialist Feather & Black has revealed a 40% uplift in like-for-like sales in the eight months to June 1 and has hired former Harrods Direct marketing director Alison Lancaster to the new role of marketing director.
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NewsHome Retail fails to score TV sales growth from World Cup
Home Retail Group failed to gain a pre-World Cup TV sales increase, as several rivals did, as overall like-for-like sales at flagship chain Argos fell 8.1% in the 13 weeks to May 29.
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Budget drives rise in stock held by short sellers
The proportion of some of the biggest retailers’ stock held by short sellers has risen on the back of uncertainty about the sector’s prospects ahead of next week’s emergency Budget.
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NewsCredit Suisse, Singer and Citi named top brokers
Credit Suisse, Citi and Singer Capital markets have taken the top retail brokerage spots in this year’s bellwether Extel rankings.
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NewsTesco and Sainsbury’s insist growth to come
Grocers positive despite high petrol prices and low inflation hitting Q1 sales
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Analysts see Alexon opportunity
Alexon reported a 5.4% drop in like-for-like sales in the 19 weeks to June 12 - an acceleration on the first 11 weeks when sales fell 4%.
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NewsHalfords seeks more deals as profits soar 27%
Car parts and cycles retailer Halfords is revving up to acquire more businesses after full-year figures showed the business is motoring.
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NewsJJB Sports chairman John Clare to be paid in shares
JJB Sports’ chairman John Clare has shown his confidence in the recovery of the sports chain by taking a share award only for his role at the retailer rather than cash.