Latest finance news – Page 593
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NewsBrokers mixed after Morrisons visit
Grocer Morrisons held an investor day on Monday, when it took analysts on a tour of new small-format stores and a regional distribution centre on the south coast.
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NewsFood hots up after Sainsbury’s bid talk
Investor appetite grew for food retailers as speculation swirled that Qatar’s sovereign wealth fund was once again considering a bid for Sainsbury’s.
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NewsSports Direct trading stays in line with expectations
Sports Direct has said that trading has remained in line with group expectations and is on track to achieve underlying EBITDA of at least £150m in its current financial year.
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NewsDebenhams posts market share and profits rise
Department store group Debenhams took market share from rivals last year, when it also transformed its trading space and increased margin.
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NewsArcadia profits soar
Sir Philip Green’s Arcadia Group has reported a 13% rise in pre-tax profits, despite the recession.
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NewsSainsbury’s takeover talk gathers pace
Renewed speculation about a possible bid by Qatar’s sovereign wealth fund for Sainsbury’s gathered pace yesterday after the fund sold 396 million shares in Barclays.
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NewsHome Retail Group reveals better than expected first half
Home Retail Group has revealed better than expected trading in the first half as it makes market share advances at both Argos and Homebase.
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NewsRetailers call for trade credit insurance top-up to be extended
About 38% of large retailers and 28% of small and medium-sized retailers have said that the reduction or withdrawal of credit insurance has negatively impacted their businesses and want the trade top-up scheme extended beyond the end of this year.
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NewsJohn Lovering to step down as Debenhams chairman
John Lovering is expected to step down as Debenhams chairman when the company releases its full year results on Thursday.
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NewsFlying Brands sales buoyed by gardening arm
Flying Brands has said that sales for the three months to October 2 were in line with management expectations at £5.53m.
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NewsJJB shareholder sells 22 million shares ahead of capital raising
One of JJB Sport’s largest shareholders, Crystal Amber Fund, has sold over half of its shares in the retailer but says it will support its proposed capital raising.
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NewsMothercare signs new joint venture to further growth in India
Mothercare has signed a new joint venture with DLF Brands to further its expansion plans in India.
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NewsClinton Cards reports improvement in second half
Clinton Cards has reported a marked improvement in second half like-for-like sales after reducing borrowings and ditching its loss-making Birthdays business.
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News
Family Dollar Store profits up
Family Dollar Stores posted a 25% net income increase to $291.3m (£178.2m) for the financial year ending August 29, up on the $233.1m (£142.6m) reported the year earlier. Operating profit, as a percentage of sales, was 6.1% for the period compared with 5.2% last year. Sales were $7.4bn (£4.5bn), a ...
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NewsSolid performance in UK helps put Ted Baker on track
Ted Baker performed ahead of expectations in its first half, with a strong UK performance offset by dire trading conditions in the US.
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NewsHalfords to increase its online-only range
Halfords is to ramp up its online operations and revealed a 2.2% uplift in second-quarter sales.
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NewsConnections lift 2% at Carphone Warehouse
Carphone Warehouse’s retail division, Best Buy Europe, reported connections rose 2% to 3.2 million in the second quarter.
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NewsM&S investor day leaves analysts cold
Marks & Spencer missed out on the general retail sector’s rise after its much-anticipated investor day was judged insufficiently exciting by the City.
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NewsSainsbury’s shares rise amid bid rumours
Sainsbury’s shares have risen by as much as 20% amid speculation that the Qatari Investment Authority was planning a renewed offer for the grocer.
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NewsH&M sales hit by warm weather
H&M sales have continued to slide, down 8% on a like-for-like basis in September.