Latest finance news – Page 609
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NewsTesco posts robust sales
Group sales at the UK’s largest retailer rose 12.6 per cent for the 13 weeks to May 30.
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NewsKesa to sell Swiss business
Kesa has entered exclusive talks with Swiss electricals retailer FUST to sell its Swiss operation for CHF20m (£11.4m).
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NewsGame trading in line with expectations
Game Group has said that trading since February has remained in line with expectations.
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NewsTed Baker sales lifted by strong UK performance
Ted Baker has reported a surge of 15.2 per cent in retail sales for the 19 weeks to June 13 and said its gross margins have so far been in line with expectations.
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NewsMatalan defies retail gloom
Matalan has revealed that like-for-likes rocketed 8.2 per cent in the 14 weeks to June 6 after posting robust full-year results.
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NewsPoor exchange rate could force non-food price inflation
Sterling’s weakness could leave the UK with more than £20bn of extra costs over the next year, raising the threat of higher prices for shoppers, according to reseach from PwC.
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NewsHot weather holds back John Lewis but helps Waitrose
Hot weather in the early part of last week held back John Lewis’s sales, but helped Waitrose to a strong week.
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NewsHamleys makes a loss of £2.7m
Iconic toy retailer Hamleys made a loss of £2.7m in the year to March 31, 2008 as its annual interest bill increased.
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NewsDavid Ross raises £38m from Carphone Warehouse share sale
Former Carphone Warehouse director David Ross, who stood down as deputy chairman last December, has sold 24 million shares in the retailer – about 15 per cent of his stake.
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NewsWoolworths dispute taken to High Court
Woolworths’ administrator Deloitte and BBC Worldwide are expected to face each other in court today over the value of the latter’s joint venture with the defunct variety store group.
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NewsIceland profits skyrocket as it sidesteps recession
Iceland chief executive Malcolm Walker has declared that the retailer is “not taking part” in the recession after revealing record sales and profits.
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BRC wins concessions on rates and credit insurance
The British Retail Consortium has claimed victories this week in the fights against spiralling business rates and trade credit insurance woes.
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NewsQS owner resolves to make profit despite losses of £21m last year
The owner of QS has vowed to make the value fashion retailer profitable this year despite recording a £21.4m pre-tax loss last year.
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Steamer profits lift as it defies dire market
Kitchenware retailer Steamer Trading Cookshop has defied dire trading conditions to reveal a lift in full-year profits.
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NewsDebenhams drives down debts with share placing
Debenhams has raised £323m by placing new shares in a bid to slash its £972m debt pile.
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NewsStrong Morrisons update met with caution
Morrisons has unveiled robust trading in its first quarter, with “sales growth well ahead of the market”, it claimed.
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NewsWHSmith ‘good value’ after positive quarter
Bookseller and stationer WHSmith has revealed better than expected third-quarter sales.
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Signet sales slip but still rated a buy
Global sales at retail jeweller Signet fell 7.3 per cent to $762.6m (£472.9m) in the 13 weeks to May 2, with same-store sales down 2.9 per cent.
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NewsSales dip but second half stability beckons
Although BRC sales data for May revealed a 0.8 per cent dip in like-for-likes, brokers took comfort in the fact that the fall was not worse and at the prospect of easier comparisons later in the year.
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Rewe increases sales
Grocery group Rewe increased group-wide retail sales by 10.5 per cent to €49.8bn (£42.9bn) in 2008, it revealed this week, with EBITDA up 8.5 per cent to €1.34bn (£1.15bn).It recorded growth both in its German home market and abroad, but contributions from overseas operations were particularly strong. Sales increases were ...