Latest finance news – Page 571
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NewsOcado to up geographical reach and range as it considers IPO
Home shopping group Ocado is to focus on increasing its range, geographical reach and services for customers this year as it mulls a post-election IPO.
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NewsSupermarket profile key for thriving Co-op
The Co-operative Group is to focus on building its profile in the small supermarkets sector, after it revealed underlying group operating profit surged 20% to £473m in the year to January 2.
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Investor appetite keen as SuperGroup floats
Shares in stock market debutant SuperGroup began trading on Wednesday, and as the markets were closing at the end of the first day, the price was up 8% to 540p.
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Budget draws mixed response from retail
About 100,000 small shops will have a year off business rates from October, Chancellor Alistair Darling revealed in this week’s Budget.
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NewsKingfisher full year profits surge 49%
DIY giant Kingfisher’s adjusted pre-tax profits surged 48.6% to £547m in the year to January 30 but the retailer remains cautious on the outlook.
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NewsNext profits soar 18%
Fashion retailer Next has reported an 18% increase in group pre-tax profit to £505m in the full year to January 30 in what chairman John Barton said was “an extraordinary year”.
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NewsClinton Cards profits soar after buying back Birthdays
Clinton Cards has reported a 28.8% increase in interim profits, on the back of group sales up 20.8%, driven by the re-acquisition of the Birthdays business.
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NewsSainsbury’s like-for-likes up 1.7% in Q4
Sainsbury’s like-for-likes rose 1.7% excluding fuel in the 11 weeks to March 20, which was in line with the retailer’s own expectations.
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NewsAlexon raises £20.3m to fund turnaround
Alexon Group has raised £20.3m via a capital raising to help speed its recovery.
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NewsHalfords to pull out of central Europe
Motor accessories specialist Halfords is to shut its fledgling central European business after recessionary conditions set back expansion opportunities.
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NewsCarpetright issues profit warning
Carpetright has issued a profit warning, citing the “pace of recovery seen towards the end of 2009 has not been sustained”.
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NewsMonsoon profits climb after strong international sales
Monsoon has recorded an eight-fold increase in profits and bumper international trading over the year to August 29, 2009.
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NewsNew Look board to consider fresh IPO bid
Fast-fashion chain New Look could resurrect its £1.7bn flotation plans when its board meets tomorrow to discuss market conditions.
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NewsBenetton chief exits as profits and sales fall
Italian fashion group Benetton is losing its chief executive after three years as its profits and sales fell last year.
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NewsSir Stuart Rose under fire over new pay package
Sir Stuart Rose faces yet more criticism as analysts and Marks & Spencer investors raised concerns over the salary he will receive when he moves to a non-executive position in July.
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NewsBlacks rejects Sports Direct bid
Blacks Leisure has rejected a takeover offer from Mike Ashley’s Sports Direct as “wholly inadequate”.
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NewsFlying Brands’ focus on core areas paying off
Home shopping group Flying Brands’ strategy to focus on its core gardening and gift divisions is bearing fruit, the retailer said as it posted improved full-year results.
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NewsStores shares lifted as retail interest piqued
Stores shot ahead of the All-Share index as low valuations and vague talk of takeovers - such as potential private equity interest in Home Retail Group - prompted interest.
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Cash Generator draws up plan for expansion
Second-hand retailer and pawnbroker Cash Generator is gearing up for expansion beyond the UK mainland after like-for-like sales soared 16.4% in the year to January 31.
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NewsVAT on food ‘could cut grocers’ profits by 16%’
The imposition of a 5% rate of VAT on food could hit the three quoted grocers’ operating profits by up to 16%, says broker Bernstein.