Latest finance news – Page 627
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Bid deadline set for 48% stake in grocer Mercator
Two shareholders in Mercator, one of southeast Europe’s biggest food retailers, have set a deadline for bids as they prepare to sell their 48.3 per cent stake.
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Primark maintains it will not be beaten by the downturn
Primark parent Associated British Foods (ABF) has reaffirmed its belief that the value fashion chain will ride out the downturn.
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Morrisons sales shine as it woos customers
Morrisons delivered an industry-beating like-for-like sales performance in its third quarter as it won new customers.
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Land of Leather: the City view
The sofas specialist disclosed on Tuesday that talks about a potential sale are over.
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Sector manages to raise its profile following series of uplifting events
Last week’s interest rate cut, better weekly numbers from John Lewis, a weather boost and cautious broker optimism about general retailers all helped lift the sector.
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Envy administration on cards, Kinnaird warns
Envy boss John Kinnaird has said he may be forced to put the fashion chain into pre-pack administration if landlords are not willing to help the struggling retailer by renegotiating rents.
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Loan repayment deal props up troubled JJB
JJB Sports has been handed a lifeline as banks have allowed its repayment of a 20 million bridging loan from Kaupthing to be deferred.
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Online’s Mega Monday sales spike still to come
The key Christmas sales day for online retailers, Mega Monday, is expected to happen a week later this year.
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Sales finally pick up as festive rush starts
The high street has reported a much-needed uplift in sales since the beginning of December as Christmas shoppers finally loosen their purse strings.
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Somerfield sales revive as Co-op takeover nears
Somerfield has posted a strong full-year performance as it moves into the final stage of its 1.57 billion sale to Co-operative Group.
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Bailiffs on alert as landlords fear for rents
An army of bailiffs has been put on standby by the UK’s largest landlords as they expect a raft of retailers will fail to have funds in their bank on Christmas Eve to meet their quarterly rent deadline on December 25.
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Woolworths closing down Sale threatens high street woe
The high street braced itself for the biggest closing down Sale in history as hopes of finding a buyer for Woolworths fade.
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John Lewis sales gather momentum
Sales at John Lewis have continued to gain momentum as shoppers flock to buy gifts, beauty and clothing.
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Mulberry feels economic squeeze
Luxury fashion group Mulberry has revealed like-for-likes have plunged over the past 10 weeks in line with deteriorating economic conditions.
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Inditex posts sales and profit rise
Fast fashion giant Inditex, owner of the Zara chain, has posted a 5 per cent increase in EBITDA to €1.54 billion ( 1.34 billion) for the first nine months of the year.
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HMV warns of weakening book market
HMV has reported flat first-half like-for-like sales and warned of a “marked deterioration” in the book market over the past five weeks.
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Banks defer JJB Sports bridging loan repayment
Banks have given beleaguered sports retailer JJB Sports some breathing space by deferring its repayment of a 20 million bridging loan from Kaupthing, which had been due to be repaid next week.
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Primark flagship store breaks sales records
Primark's flagship store on London's Oxford Street notched the biggest single-day sales in its history last Saturday.
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Ideal Shopping Direct axes jobs as sales plunge
Multichannel retailer Ideal Shopping Direct is to slash jobs by 15 per cent and will make a loss this year.
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Sir Geoff Mulcahy plots Woolworths comeback
Former Kingfisher boss Sir Geoff Mulcahy is in talks to take over 500 Woolworths stores and revive the brand.