Latest finance news – Page 575
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NewsBlacks delays fundraising meeting
Updated: Blacks Leisure postponed its general meeting today in order to continue negotiations with Sports Direct which had planned to block proposed fundraising by the outdoor specialist.
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NewsAirport retail sales soar on weak pound
Duty-free shopping and the weakened pound drove sales at London’s airports to their highest levels for a decade last year.
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NewsMatalan mulls refinance plan
Matalan is reportedly considering a refinancing following its axed sale.
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NewsSports Direct buys Blacks stake to block rescue plan
UPDATED: Sports Direct succeeded yesterday in acquiring the rights to a disputed 29% stake in Blacks Leisure to vote against its rescue plans.
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NewsPrimark sales climb in first half
Value fashion and homewares chain Primark’s first-half sales were “substantially ahead” of last year, parent Associated British Foods reported.
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NewsPawnbroker Albemarle & Bond’s profits surge
Jewellery-based pawnbroker Albemarle & Bond has posted strong interim results, with pre-tax profits surging 75% to £10.8m in the six months to December 31 2009.
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NewsSuperGroup confident of IPO success as others falter
Directors of SuperGroup, which aims to raise £125m through an IPO, are confident of the retailer’s longevity despite some potential investor concerns about fashion’s volatility.
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NewsAustin Reed steadies after profit dive
Austin Reed has said business has stabilised since reporting group profit fell 37% to £3.2m in the year to January 31, 2009, as men sacrificed suit purchases in the recession.
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NewsElectricals etailer Ebuyer plots growth
Vida Capital Partners is confident of a strong 2010 as it ramps up its two retail businesses, etailer Ebuyer and kitchens retailer Wrens.
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NewsBroker sees potential in undervalued Next
Earnings momentum and share buy-backs have created a buying opportunity in fashion group Next, broker Investec believes.
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Goldman Sachs eyes recovery in retail opportunities
Goldman Sachs has forecast that retail like-for-likes will rise in 2010 after two years of declines in the store groups it follows.
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NewsThird quarter lifts Sports Direct
Sports Direct third-quarter retail sales rose 9.4% to £326m year on year and it has raised its full-year EBITDA target to at least £160m.
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NewsRetail flotation jitters hit non-food shares
General retailers lagged the All-Share index and their food peers as doubts were cast over stores’ IPO hopes.
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NewsQS on target to return to profit as sales climb
Value retailer QS is on track to make a profit this year after a decade of being in the red.
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NewsAbercrombie & Fitch profits fall after ‘difficult’ year
Abercrombie & Fitch Co has recorded a 31% drop in net income to $47.5m (£30.1m) over the 13 weeks to January 30 while total sales fell 5% to $936m (£594m).
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NewsB&Q sales hit by snow
B&Q has reported the snow at the beginning of the year affected trade as it recorded like-for-like sales fell 3.5% in its fourth quarter.
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NewsHalfords buys Nationwide Autocentres for £73.2m
Motor accessories group Halfords has bolstered its service and repair operations with the £73.2m acquisition of 224-outlet Nationwide Autocentres.
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NewsBurberry to restructure Spanish arm
Luxury heritage brand Burberry is to restructure its Spanish arm in a bid to bring the division in line with the global business.
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NewsMulberry raises outlook after strong trading
Luxury leather goods and clothing brand Mulberry has raised its full year outlook following a strong Christmas trading period.
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NewsThorntons sales drop but profits up
Thorntons has reported a 0.7% drop in sales in its interim results but a 24.6% increase in pre-tax profit.