Latest finance news – Page 611
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NewsMorrisons first-quarter like-for-like sales jump
Morrisons has revealed an 8.2 per cent rise in first-quarter like-for-like sales as bargain hungry customers flock to its lower-price offer.
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NewsDebenhams to raise £323m in share sale
Debenhams has revealed plans to raise £323m in a share placing to slash its debt pile and said profits were growing at the department store chain.
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NewsJJB Sports completes refinancing
JJB Sports has completed its refinancing and ended its standstill agreement with its banks.
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NewsMay food inflation falls to lowest level this year
Shop price inflation growth has slowed to 1.3 per cent in May, from 1.4 per cent in April.
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NewsKingfisher profits soar 38.5 per cent in first quarter
Kingfisher’s retail profit surged 38.5 per cent to £128m in the 13 weeks to May 2, beating expectations as seasonal products and favourable weather lifted sales.
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NewsLaura Ashley enjoys sales lift
Laura Ashley has reported a like-for-like sales uplift of 6.9 per cent in the 17 weeks to May 30.
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NewsHome Retail boss misses bonus
Home Retail Group chief executive Terry Duddy took a hit of over £900,000 to his total pay last year after missing out on a performance-related bonus.
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NewsModus Ventures collapses into administration
Manchester-based property company Modus Ventures has fallen into administration.
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NewsMoss Bros reveals sales fall but says performance improving
Moss Bros has revealed that like-for-like sales dropped 3.9 per cent in the 16 weeks to May 23. Total sales fell 2.3 per cent during the period.
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NewsHalfords names Dennis Millard chairman
Motor accessories and bikes giant Halfords has appointed Dennis Millard as chairman, replacing Richard Pym.
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NewsLosses spiral as Blacks battles to recover
Outdoor pursuits specialist Blacks Leisure has acknowledged there is “material uncertainty” about its future but insisted progress is being made in turning the business around.
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NewsDavid Jones says loss-making JJB Sports is his ‘biggest challenge ever’
JJB Sports executive chairman David Jones has described his turnaround attempt as “the biggest challenge I have ever had”, as the retailer posted a full-year loss of £189m.
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NewsGame’s share price slides after Gamestop’s caution
Computer entertainment group Game’s shares plunged after US giant Gamestop warned of falling sales last week.
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NewsFindel considers rights issue
Home shopping group Findel may launch a rights issue to put its finances on a more secure footing.
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Green shoots shrivel as rally grinds to halt
Green shoots shrivelled as, for the third week running, general retailers were in reverse. The sector’s amazing rally over the past few months has shuddered to a halt as a result of profit taking by investors, some nasty shocks and a still uncertain outlook.
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Heron Frozen Foods sales jump but profits take a hit
Grocer Heron Frozen Foods has revealed a slide in its full-year pre-tax profits.
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Sales declines hit Gap profits
Sales declines across all four of Gap’s divisions have led to a 14 per cent slump in first-quarter profits at the clothing giant.In the quarter to May 2 earnings were 15m (£135.5m), down from 49m (£156.9m) the year before. First-quarter net sales were $3.13bn (£1.97bn) compared with $3.38bn (£2.13bn) the ...
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Gamestop reveals profit hike
Games retailer Gamestop revealed a profit hike of 13.4 per cent to $70.4m (£44.4m) while like-for-likes fell 1.5 per cent in its first quarter to May 2.The world’s largest games specialist said the like-for-like decline was due to “sharper recessionary effects in Europe and a slowdown of new console sales”. ...
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Unexpected profit revealed by Sears
Department store group Sears posted an unexpected first-quarter profit after slashing advertising costs and payroll expenses.The retailer also extended a credit agreement to increase the amount available to $4.1bn (£2.6bn) until March 24, 2010, and $2.4bn (£1.5bn) from March 25, 2010, to June 2012.Net income in the three months to ...
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NewsPrinciples administration leads to email deluge
More than 5,000 customers and suppliers of defunct fashion retailer Principles have emailed the retailer’s administrator asking to recoup money or redeem vouchers.