Latest finance news – Page 610
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News
Same-store sales in US decline
Same-store sales declined 4.6 per cent in the US in May, according to a report from Goldman Sachs and the International Council of Shopping Centers. The results were worse than a forecast 3 per cent drop.Among a slew of disappointing like-for-likes, department store group Nordstrom reported a fall of more ...
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Aggressive Ackman falls flat after failed Target coup
The latest boardroom battle that William Ackman, head of US hedge fund Pershing Square Capital Management, has waged has ended in tears – literally, according to US reports.
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NewsHomebase records first quarterly like-for-like sales growth since 2007
Home Retail Group has revealed a better than expected sales performance in its first quarter as it grew market share and benefited from the warm weather.
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NewsNet-A-Porter profits leap 234 per cent
Online retailer Net-A-Porter has seen profits increase by 234 per cent, from £3.0m to £10.1 in the year to January 2009.
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NewsInditex sales rise by 5 per cent in the first quarter, but profit falls
Net sales at the Spanish fashion giant totalled €2.39bn for the quarter to April 30.
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NewsDirectors take home less at Sainsbury's
Sainsbury’s chief executive Justin King’s total remuneration fell 6 per cent last year.
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NewsGovernment extends credit insurance relief period
The Government has bowed to business pressure and amended its trade credit insurance top-up scheme revealed in April.
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NewsHalfords profits rise as consumers holiday at home
Halfords pre-tax profits rose 2.4 per cent to £92.4m in the 52 weeks to April 3 as the retailer maintained a tight grip on costs and benefited from consumers holidaying at home.
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NewsSales rise at Ideal Shopping Direct
Home shopping retailer Ideal Shopping Direct has reported a 2 per cent rise in sales for the 21 weeks to May 24.
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NewsMarks & Spencer directors miss out on bonuses
Marks & Spencer executive directors, including chairman and chief executive Sir Stuart Rose, all went without bonuses and pay rises last year after pre-tax profits at the retailer fell 40 per cent.
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NewsJoJo Maman Bébé set for record year
Maternity retailer JoJo Maman Bébé expects to shrug off the downturn to record its most profitable year.
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NewsKingfisher surprises City with ‘stormingly good’ first quarter
Kingfisher beat analysts’ forecasts with its first-quarter trading update and wants to capitalise on the Irish market now that rival Wickes has halted its expansion plans there.
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NewsBlacks pins turnaround hopes on staycations
Blacks Leisure hopes that the ongoing exit from its boardwear business and the increasing trend for people to holiday in the UK will help secure its future.
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NewsMoss Bros should survive recession, analysts say
Moss Bros should be “one of the survivors of the recession” analysts believe, after the retailer reported sales ahead of City expectations.
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Promotions lift Laura Ashley sales
Sales at Laura Ashley jumped 8.4 per cent in the 17 weeks to May 30, due mainly to targeted promotions and store openings. Like-for-like sales rose 6.9 per cent.
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NewsRetail stocks rebound but City still cautious
Has the rally in general retail stocks run its course? That’s what one leading broker said, despite the sector rebounding this week after three weeks of decline.
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NewsTopps Tiles moots options to bolster sales
Topps Tiles is considering potential new revenue streams, including business to business, and mulling whether to pull out of Holland.
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News
Profits at Office Depot’s North American retail division decline
Operating profits at Office Depot’s North American retail division declined from $82m (£50m) to $81m ($49.4m) in the first quarter to March 28. Like-for-likes plummeted 17 per cent while total sales slumped 16 per cent to $1.4bn (£854.4m).The company, which includes a business solutions arm, reported a net loss of ...
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NewsWHSmith reports robust third-quarter sales
WHSmith has revealed better than forecast third-quarter sales and said it is confident on its full-year prospects.