Latest finance news – Page 632
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100,000 retail jobs cut this year
As tough trading continues, full scale of hidden job losses revealed – and the worst is still to come.
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Wesfarmers debt stokes fears for Coles revival
Australian group Wesfarmers has tried to appease shareholder concerns about the turnaround of grocer Coles just a year after its acquisition.
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US retailers batten down hatches as trade worsens
US retailers are bracing themselves for further deterioration in trading conditions in the run-up to Christmas after retail sales in October fell below expectations and a raft of retailers slashed forecasts last week.
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Asos to expand overseas and up ranges as business booms
E-tailer Asos is targeting international expansion and new product areas as it continues to grow.
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Burberry venture to tap Middle Eastern promise
Luxury retailer Burberry is putting its faith in emerging markets as trade generally continues to be “volatile”.
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Ted Baker: The City view
Quirky fashion retailer Ted Baker managed retail sales growth of 13.3 per cent in the 13 weeks to November 8, when group sales edged up 1.8 per cent.
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Early Sales and consumer belt tightening hit retail share prices
General retailers’ shares plummeted as the market took fright at another step down in consumer spending, tight credit conditions and signs of early Christmas promotions.
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Inflation cut ‘won’t spur spending’
A dramatic decline in inflation is unlikely to stop consumer spending from falling for the next three years, research consultancy Capital Economics has warned.
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Up to 250 jobs at risk at Halfords
Motor accessories retailer Halfords is to make up to 250 job cuts at head office and in stores as it seeks cost savings.
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MK One in administration again
Value fashion retailer MK One has once again fallen into administration.
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Original Factory hits six-month sales high
Value retailer Original Factory Shop continued to defy the downturn, revealing its strongest six months to date.
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Woolworths trouble could knock rivals, City fears
The performance of Game, HMV and WHSmith are at risk as a result of the problems of Woolworths, which has held talks about a sale to restructuring specialist Hilco.
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Frenzy of festive discount vouchers fuel fear of bloodbath on high street
An unprecedented raft of “secret Sales” and promotional vouchers is likely to spark a high street bloodbath ahead of what retail chiefs are warning will be the toughest Christ-mas ever.
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Andy Bond: Christmas will be OK but new year won’t
Asda chief executive Andy Bond has warned that while shoppers will spend slightly less this Christmas, the first quarter of next year will be “when things get really tough” for retailers.
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Sir Stuart Rose: 'step-down' in trading in last fortnight
There has been another marked fall in consumer spending in recent weeks, Marks & Spencer executive chairman Sir Stuart Rose has said.
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Woolworths in talks to sell retail arm to Hilco for £1
Woolworths is understood to be in talks to sell its high street business to specialist distressed fund Hilco for 1.
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West End at risk of losing top Euro ranking
London’s West End is at risk of losing its title as Europe’s number one shopping destination as pressures from Westfield London and other developments begin to take their toll.
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Inflation plunges at record rate
Inflation has fallen at the steepest rate in more than a decade, driven down by cheaper fuel and food.
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John Lewis sales fall again
Department store business John Lewis suffered a 14 per cent sales fall last week, it is understood.
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Carphone Warehouse confirms potential business split
Carphone Warehouse chief executive Charles Dunstone has confirmed that he is looking at splitting the retail and broadband arms of the business as the company reported EBITDA growth of 51 per cent to 112 million in the 26 weeks to September 27.