Latest finance news – Page 626
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City waits with bated breath as Christmas hangs in the balance
Goodwill towards retailers was in short supply as the countdown to Christmas became increasingly nervy.
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Superdrug set for its biggest January Sale
Superdrug will launch its biggest ever January Sale next month, offering swingeing price cuts of up to 90 per cent.
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Retail wage rises trail UK average
Retail pay rates have climbed 3 per cent this year, lagging behind the average UK rise of 3.5 per cent.
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Woolworths stores empire to close in January but interest continues
Woolworths’ 807 stores will be shut by January 5 but hopes remain that a buyer of the brand may be found.
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Retailers insist Christmas trade can be clawed back this weekend
Retailers cling to hopes of a last-minute flurry of Christmas shoppers this weekend but fear trading conditions will be desperate in the new year.
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Carrefour warns on profits
International retail giant Carrefour has issued a profits warning after trading wilted, particularly in Europe.
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United Carpets like-for-likes rebound
United Carpets has revealed a slight improvement in like-for-likes in the past 11 weeks as the retailer experienced an upturn in consumer confidence.
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Retail sales plunge in early December, CBI reports
More than two-thirds of retailers suffered a decline in sales volumes in the first half of December and fear a difficult new year.
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Marks & Spencer sales have slumped
Updated: Marks & Spencer’s sales fell of a cliff last week as core categories slumped by as much as 30 per cent, it is understood.
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Sports Direct defies downturn with profit rise
Sports Direct has credited a “back to basics” strategy with a rise in first-half profits and said it will meet full-year profit forecasts.
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Pre-Christmas discounting hits record level
Retailers' pre-Christmas discounting has reached record levels and even deeper reductions are expected as store groups desperately clear stock.
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Best Buy announces redundancy plans as profits slump
US electricals giant Best Buy is offering voluntary redundancy to its 4,000 head office staff and will halve capex after profits slumped and sales fell in its third quarter.
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Inflation falls to 4.1 per cent
Inflation fell to 4.1 per cent in November from 4.5 per cent in October, the Consumer Prices Index showed.
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Carpetright profits plummet
Carpetright has issued a profit warning for the full year as it recorded a sharp fall in underlying first-half pre-tax profit of 67.6 per cent to 8.8 million in the 26 weeks to November 1.
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Christmas spending intentions fall again
The amount shoppers intend to spend this Christmas has fallen again and the outlook for January Sales is uncertain, GFK NOP data exclusively revealed to Retail Week has shown.
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Kingfisher demands monthly rents for all retailers
Kingfisher, owner of the B&Q DIY chain, will this week ask landlords to offer monthly rental deals to all retailers - not just those in trouble.
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John Lewis posts record technology sales
John Lewis has continued to gain sales momentum after notching up a record week for its technology products.
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Strategic Retail suspends shares
The shares for Fads owner Strategic Retail have been suspended this morning after it placed three of its subsidiaries into administration.
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EUK redundancies begin after no buyer is found
Two-thirds of the staff at EUK, the Woolworths-owned entertainment distributor which is in administration, have been made redundant after no buyer was found for the business.
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US’s Safeway to slash costs and prices next year
US grocer Safeway will slash prices next year and also run an aggressive cost-cutting programme to help it almost double its free cash flow.