Latest finance news – Page 592
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NewsSports Direct to battle on for stakes
Sports Direct has vowed to fight on for ownership of stakes in rival retailers after apparently losing control of them to the administrator of collapsed Icelandic bank Kaupthing.
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NewsWeak retail sales data hits non-food shares
Uncertainty about prospects was sparked by cautious comments from Arcadia tycoon Sir Philip Green as he unveiled full-year results, even though the CBI’s monthly retail survey was better than expected.
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NewsThreshers owner First Quench Retailing goes into administration
Threshers owner First Quench Retailing has plunged into administration.
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NewsInvestors buy into £100m JJB Sports fundraising
JJB Sports has reported that its £100m fundraising has been successful, putting the embattled business on a firmer financial footing.
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NewsBlacks focuses on restructuring as losses mount
Outdoors specialist Blacks Leisure has suffered a steep decline in first-half profits but said it is making progress with restructuring, details of which are being finalised.
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NewsTPG nets £500m from Debenhams exit
Private equity group TPG has cashed in its remaining stake in Debenhams, the department store group whose buy-out it funded in 2003.
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NewsCarpetright delivers better than expected first half
Carpetright like-for-like sales in the UK and Ireland increased 3.5% in the 25 weeks to October 24 after an improvement in the second quarter.
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NewsThreshers owner on the brink of administration
Threshers owner First Quench is on the brink of going into administration, Retail Week has learned.
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NewsSports Direct loses stakes in rivals
Sports Direct has lost its stakes in rivals JD Sports Fashion and Blacks Leisure as the administrator of collapsed Icelandic bank Kaupthing took control of the holdings.
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NewsFloors-2-Go seeks new investment to fund expansion
Floors-2-Go is close to securing new investment, and is thought to be looking to acquire up to £5m to fund expansion.
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NewsMatalan considers £1.5bn sale
Discount retailer Matalan is considering a £1.5bn sale after receiving a number of expressions of interest.
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NewsGovernment mulls concession on VAT
The Government is to consider granting retailers extra time to update price labels in stores when the VAT rate reverts to 17.5% on January 1.
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NewsKindle helps boost Amazon sales and profits
Amazon has reported international sales, including the UK, grew 33% in the three months to September 30 reaching $2.61bn (£1.56bn).
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NewsFewer, bigger stores for Arcadia as profits soar
Arcadia’s future lies in fewer, bigger stores, Sir Philip Green said this week as he revealed that profits at his fashion group have increased despite the recession.
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NewsArgos to undergo brand revamp
Catalogue store group Argos is to revamp its brand, including its logo, to reflect how the business has changed in recent years.
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Industry slams credit insurance top-up scheme
Most retailers say the Government’s credit insurance top-up scheme has not helped their business, while one of the biggest insurers admitted the scheme had not been as effective as hoped.
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NewsClinton to expand store chains after better than expected trading
Greetings cards retailer Clinton Cards is gunning to grow its store base from 876 to 1,200 within six years and has revealed better than expected full-year trading.
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NewsWHSmith nets second-half profit for first time in decade
Bookseller and stationer WHSmith delivered better than expected full-year results, revealing it had been profitable in its second half for the first time in more than 10 years.
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NewsMothercare to extend Indian stores network
Mothercare has signed a second joint venture in India, with DLF Brands, the retail division of a local property giant, to accelerate its expansion there.
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NewsFlying Brands sales flourish in third quarter
Strong sales at Flying Brands’ gardening business helped keep revenues at the home shopping group in line with expectations in the three months to October 2.