Latest finance news – Page 596
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NewsAsos posts 47% sales increase
Asos has reported a 47% first-half increase in sales, with profits “marginally ahead” of last year.
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NewsMarks & Spencer second quarter beats expectations
Marks & Spencer delivered a better than expected second quarter performance, as UK like-for-like sales declined by just 0.5%, continuing the improving trend seen over the last three quarters.
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NewsBlacks Leisure to close 89 stores
Blacks Leisure is to shut 89 of its loss-making stores and cut jobs at its head office as part of a restructuring.
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Pawnbroker Albermarle & Bond thrives in the recession
Pawnbroker Albermarle & Bond said it plans to open new stores and add new services after it reported a 42% rise in full-year profit, lifted by a new gold purchasing service and strong sales.
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NewsJessops completes debt for equity swap to ensure survival
The UK’s largest camera specialist Jessops has unveiled a survival deal which secures 2,000 jobs but leaves its bank owning almost half of the retailer.
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NewsMoss Bros reports £3m loss
Moss Bros has reported first-half pre-tax losses of £3m compared with a £2.2m loss for the same period last year.
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NewsJacques Vert confident profits will beat expectations
Womenswear retailer Jacques Vert has revealed a 0.8% fall in like-for-like sales for the 22 weeks since the beginning of April, but expects increased pre-tax profits for the full year.
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NewsBlacks considers CVA
Blacks Leisure is planning a company voluntary arrangement in order to secure its future.
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NewsNew Look mulls float
New Look, the fashion chain owned by two private-equity companies Apax and Permira, is reportedly considering a £1.7bn stock-market flotation.
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NewsOriginal Factory Shop commits to 400-store expansion as sales rise
Value retailer Original Factory Shop has recorded a 27.1% rise in pre-tax profits to £9.7m in the year to March 29 as it lays out plans for 400 stores within five years.
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NewsHome Bargains to double stores as it speeds to £1bn sales target
Value retailer Home Bargains plans to smash its £1bn revenue target two years earlier than expected, after reporting record sales and earnings in its full-year accounts.
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NewsWeak releases dampen Game profits but outlook is positive
Computer entertainment group Game posted a slump in first-half profits, but the plunge was in line with expectations.
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NewsYouth unemployment won’t hit JD, says boss
JD Sports Fashion chief executive Barry Bown said he was cautiously optimistic about prospects for the year ahead and shrugged off concerns that rising youth unemployment could slow growth.
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NewsFrench Connection looks at strategy as losses grow
French Connection has launched a strategic review after interim losses surged to £12.8m from £5.4m.
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NewsFindel focuses on costs as sales fall
Home shopping group Findel, which successfully raised £81m over the summer through a share placing and open offer, has posted a 5% fall in group like-for-like sales.
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NewsRetail stock interest expected to continue
Stores rebounded after the recent bout of profit taking and outperformed the market, but food retail stocks remained mired ahead of results from Tesco and Sainsbury’s.
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NewsUK set for another tough year, warns Boden chief executive
Boden chief executive Julian Granville said that he expects the UK market to remain tough next year, as likely future tax increases bite into consumers’ disposable income.
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Retail suffers as gloom outweighs IPO hopes
General retail stocks headed south and underperformed the market, despite rising speculation that a raft of IPOs - including a £1.7bn flotation of fast fashion group New Look - looks likely in the new year.
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NewsH&M to go online in the UK
H&M is to start selling online in the UK from next autumn, following the decision made by its fast fashion arch-rival Zara to do the same last week.
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NewsBlacks Leisure places Sandcity into administration
Blacks Leisure has appointed administrators to its boardwear business, Sandcity.