Latest finance news – Page 563
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NewsFlying Brands buys Flowers Direct
Flying Brands has bought flower delivery firm Flowers Direct out of administration for £2.95m.
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NewsMarks & Spencer set to unveil 4% rise in annual pre-tax profits
Marks & Spencer is expected to unveil a 4% rise in full-year pre-tax profits to £628m tomorrow, according to reports.
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NewsAurum has a sparkling start to the year as profits rise
Aurum, the owner of Mappin & Webb , Watches of Switzerland and Goldsmiths has reported full year operating profits grew to £6.5m in the year to January 31, up from £3.1m the year before.
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NewsPentland builds stake in Blacks to block another Mike Ashley bid
Updated: Blacks Leisure confirmed today that Pentland Group has snapped up a 5.86% stake in the outdoor specialist.
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NewsHotel Chocolat aims to raise £5m through ‘chocolate bonds’
Hotel Chocolat wants to raise £5m of development funds through the launch of a ‘chocolate bond’ which will reward members with chocolates.
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NewsAndy Hornby earns £2m for first nine months as Alliance Boots chief
Alliance Boots boss Andy Hornby was paid over £2m for the first nine months in his role at the pharmacy and beauty chain.
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New chief shuffles top team to ‘put Fat Face back on the map’
New Fat Face chief executive Anthony Thompson has reshuffled his top team to streamline the business and help “put Fat Face back on the map”.
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NewsVolatility reigns for general retail shares
General retailers’ shares swung wildly last week and ended up underperforming the market although food stocks, helped by better than expected Sainsbury’s results, ticked up.
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NewsDSGi looks to score with World Cup TV sales
Group like-for-like sales at electricals retailer DSGi climbed 6% in the fourth quarter, bringing the advance for the year to 2%.
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NewsBrokers raise a glass to Majestic Wine
Wine specialist Majestic disclosed on Monday that full-year profits, scheduled to be reported next month, will be at the top end of City expectations.
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NewsTravis Perkins sales dip sets gloomy sector tone
Wickes’ owner, Travis Perkins, reported a decline in sales at its retail arm that analysts believe will be mirrored in updates from rivals B&Q and Homebase next month.
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NewsSainsbury’s performance buoyed by Nectar scheme
Sainsbury’s chief executive Justin King has said the grocer will continue to focus on “genuine promotions” on products bought frequently as it continues to exploit its Nectar loyalty scheme.
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NewsB&M Bargains profits grow 140% in 2009
Value retailer B&M Bargains is aiming for £1bn in sales within five years as it reported another set of sparkling full-year figures.
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Trend towards frozen food lifts Heron profits
Frozen food retailer Heron Foods has recorded a rise in pre-tax profits and turnover for the year to December 26, 2009.
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NewsHalfords to hire mergers and acquisitions director
Motor accessories and cycles specialist Halfords is on the hunt for a head of mergers and acquisitions as it strives to bolster its offer.
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NewsClaire’s appoints ex-Levi’s retail chief
Accessories chain Claire’s has hired Levi’s retail director Sheila Hamilton as managing director of its UK and Republic of Ireland division.
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NewsSports Direct stake in Blacks diluted after fundraising approved
Mike Ashley’s Sports Direct has had its stake in Blacks Leisure diluted after the outdoor retailer’s £20m fundraising was approved this afternoon.
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NewsMothercare sales pass £1bn but City profit expectations not met
Maternity specialist Mothercare generated full-year sales of more than £1bn for the first time last year but profits narrowly missed City expectations.
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NewsMenswear sales improve at French Connection
French Connection saw like-for-like retail sales in the UK and Europe fall 1.9% for the 14 weeks ended May 14, but performance was ahead of plan and better than last year thanks to improved gross margin and cost controls.
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NewsAsda Q1 like-for-likes fall 0.3%
Asda’s like-for-like sales excluding VAT and petrol have fallen 0.3% in its first quarter and the grocer expects conditions to remain tough.