Latest finance news – Page 566
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News
HobbyCraft aims high for new owner
Art and crafts retailer HobbyCraft has said it would aspire to surpass Pets at Home as a success story for its new owner, Bridgepoint, following its sale last week to the private equity investor for nearly £120m.
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NewsOriginal Factory Shop to rev up fashion following bumper sales
Value retailer Original Factory Shop is to focus on growth in fashion and footwear after revealing a bumper set of sales and profits for the year to March 28.
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News£10m cash injection lifts ailing Freemans
Freemans Grattan Holdings, the UK arm of German home shopping giant Otto, has been given a £10m cash injection from its parent company to stem losses at the UK business.
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NewsTight cost control lifts Netto UK’s outlook
Netto UK has reported a 53% lift in operating profit to £7.6m with tight cost controls helping it overcome tough trading conditions.
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NewsStrife in Greece ‘likely to benefit foreign retailers’
The economic and political turmoil that is convulsing Greece is likely in the long term to benefit international retailers that trade there, according to Planet Retail analyst Milos Ryba.
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NewsElection outcome could influence retail IPOs
Today’s election result and the implications for consumer and business confidence are likely to influence whether or not a clutch of retail initial public offerings get under way.
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NewsSales momentum slows at Morrisons
Supermarket group Morrisons has reported a slowdown in sales during its first quarter, but said it was still winning customers.
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NewsIan Dyson leaves Marks & Spencer
Marks & Spencer has announced the departure of finance director Ian Dyson, just a day after Marc Bolland joined as chief executive.
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NewsNext remains ‘cautious’ as sales grow 4.1%
Total sales at Next grew 4.1% excluding VAT in the 13 weeks to May 1 but it said it remained “cautious” for the year ahead.
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NewsApple iPad sells faster than iPhone
Apple has sold one million iPads since its launch on April 3, selling faster than the iPhone.
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NewsThe Original Factory Shop outlines expansion after reporting 35% sales increase
The Original Factory Shop is to step up expansion after recording a 35% increase in sales to £132m for the year to March 28.
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NewsBlacks moves forward with fundraising after a difficult year
Blacks Leisure is pressing ahead with a £20m fundraising as sales start to improve for the outdoor retailer after a year of major restructuring across the business.
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NewsCarphone Warehouse riding high on back of demerger
The launch of US electricals giant Best Buy in the UK grabbed the headlines this week, but it was also parent company Carphone Warehouse’s first trading update since its demerger last month.
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NewsSFO cloud hangs over Sports Direct
The City has continued to cautiously back Sports Direct after a positive pre-close update, despite a pending Serious Fraud Office (SFO) investigation into the business.
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NewsAlexon turnaround on track despite pre-tax loss
Womenswear retailer Alexon said it is on track with its turnaround plans, despite posting a £900,000 pre-tax loss for the year to January 30, against a profit of £10.8m the previous year.
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NewsScotmid breaks £10m barrier in full-year results
Scotmid, the largest independent Scottish co-operative, has reported operating profit up 18% to £10.2m in its full-year results, marking the first time it has broken through the £10m barrier.
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NewsSupplier to relaunch Adams
Kidswear retailer Adams is poised to be relaunched on the high street after the brand name was bought out of administration by one of its suppliers.
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NewsMountain Warehouse to hike up expansion
Outdoor specialist Mountain Warehouse is gearing up for further expansion after reporting post-tax profits of £3.9m in the year to February 28, up 72% on last year.
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NewsAvatar set to bust DVD sales records and become biggest Blu-ray release
The DVD and Blu-ray release of blockbuster film Avatar has set the tills ringing in stores and online and is predicted to become one of the biggest releases of all time.
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NewsLord Kirkham upbeat after ‘bittersweet’ DFS exit
DFS founder Lord Kirkham has described the sale of his sofa chain to private equity firm Advent as “bittersweet” but vowed that the business would do “more of the same but at a much faster rate”.