Latest finance news – Page 620
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Ziff buys Stylo stores
The management of shoe retailer Stylo, led by Michael Ziff, has bought 160 Stylo stores and 165 concessions from administrator Deloitte.
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JJB places Qube and OSC into administration
JJB Sports has officially placed its Lifestyle division, comprising the Qube and Original Shoe Company chains, into administration.
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Wickes owner Travis Perkins reports profits plunge
Builders’ merchant Travis Perkins has posted a plunge in preliminary profits but said its Wickes DIY chain has made a good start to the new financial year in key categories.
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Thorntons posts 39% interim profit fall
Confectioner Thorntons’ profits plunged in the first half when sales at company-owned stores fell and margins suffered during highly promotional trading conditions.
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Wal-Mart posts quarterly profit fall despite record sales
Wal-Mart, the world’s biggest retailer, has reported a 7.7 per cent fall in fourth quarter profits after being hit by the costs of legal action and exchange rates.
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Asda revives 'pocket-tap' ads as sales climb
Asda is to reinstate its famous ‘pocket tap’ in TV ads to consolidate its appeal to value-conscious shoppers nostalgic for reassurance in the uncertain economic climate.
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Credit insurance withdrawn to Topps Tiles suppliers
Specialist retailer Topps Tiles has had credit insurance withdrawn to its suppliers by an unnamed insurer.
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Inflation slows to 3 per cent in January
Annual Consumer Prices Index (CPI) inflation dropped to 3 per cent in January from 3.1 per cent in December, according to the Office for National Statistics (ONS).
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Marks & Spencer seeks better supplier terms to counter sterling fall
Marks & Spencer is reported to have turned the screws on suppliers as it battles to cope with sterling’s fall in value.
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Credit insurer withdraws cover to Threshers suppliers
Credit insurer Coface has withdrawn cover for suppliers to First Quench, the parent of wine retailer Threshers.
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Stylo chairman to buy 200 stores from administration
Stylo chairman Michael Ziff is planning to buy back 200 of the group’s 380 stores from administrator Deloitte.
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JJB secures lending extension
JJB Sports has secured an extension of lending arrangements for a month dependent upon progress with the proposed sale of its fitness clubs division.
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Stylo to go into administration
Shoe retailer Stylo is poised to go into administration after its creditors and landlords voted against the proposed Company Voluntary Arrangement (CVA) for its Barratts and Priceless chains.
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Asos: Stock in focus
The fashion e-tailer, now capitalised higher than many main market-listed retailers, was a Christmas winner and is expected to continue blazing a trail.
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City quells revival hopes despite gains in January
Retail sales in January grew at their strongest rate since May last year, but analysts warned it is too early to call a recovery.
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Two key fashion suppliers go into administration
Cracks are continuing to appear in the fashion supply chain as two suppliers of mid-market womenswear hit the buffers.
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Retail stocks surge ahead on bid excitement and improved sales
General retail stocks surged over a week that brought upbeat broker comment, bid excitement and better than expected sector sales data for January.
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WHSmith directors sell shares
WHSmith directors yesterday sold further tranches of optioned shares – the second round of such disposals in a week.
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Stylo administration looms as CVA hangs in balance
Last ditch attempts are under way to secure approval of company voluntary arrangements for the Barratts and Priceless chains.
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Austin Reed buys Viyella out of administration
Womenswear chain Viyellla has been bought out of administration from Austin Reed.