Latest finance news – Page 633
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Comet hit as suppliers' insurance cover cut
Some suppliers to electricals retailer Comet have had credit insurance reduced, it is understood.
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Interest rate cut fails to boost shoppers' festive spending plans
The dramatic interest rate cut earlier this month has done nothing so far to stimulate Christmas spending, updated GfK NOP data shows.
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Asos sales and profits soar
Online fashion retailer Asos has once again defied the economic downturn, reporting a jump in pre-tax profits of 68 per cent to 4.1 million for the six months to September 30.
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More Otto jobs under threat in costs review
Otto UK has revealed its on-going review could have an impact across all departments after entering into a consultation period with its buying and creative teams.
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Top Woolworths shareholder: business is worth £340 million
Property magnate confident the chain has a future or a buyer could be found, despite City critics.
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Majestic profits plummet 25% as champagne loses its fizz
Majestic Wine suffered a 25.5 per cent drop in first-half pre-tax profits after champagne sales slumped as corporate customers slashed expenditure.
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Analysts hail Tesco’s Far East growth plan
The financial sun is rising on Tesco’s Far Eastern businesses, analysts believe following a tour of stores in the region.
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WHSmith: The City view
Analysts remained convinced of the merits of bookseller and stationer WHSmith following an update on Wednesday.
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An October to forget spells out mountain to climb at Christmas
The downward pressure on retail share prices lightened a little following last week’s swingeing interest rate cut but, the scale of the industry’s difficulties were reflected in appalling British Retail Consortium sales figures.
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Woolworths' EUK asks customers for upfront payment
EUK, variety store group Woolworths’ entertainment supply division, has been forced to ask customers for upfront payments as the credit crunch bites.
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Sofa Workshop future ‘uncertain’, says auditor
Sofa Workshop auditor BDO Stoy Hayward has expressed reservations about the furniture retailer’s future.
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Ted Baker retail sales rise but wholesale slumps
Ted Baker has revealed total sales in the 13 weeks to November 8 rose 1.8 per cent, but wholesale sales slumped 21 per cent.
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TK Maxx sales increase in third quarter
TK Maxx has notched up a 4 per cent increase in third-quarter like-for-like sales.
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Unity reduces stake in French Connection
Unity Investments has reduced its holding in French Connection to 17.65 per cent.
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Best Buy warns on profits after 'seismic change' in shopper behaviour
US electricals giant Best Buy, which plans to make a high-profile debut in the UK next year in partnership with Carphone Warehouse, has issued a profit warning.
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Sir Philip Green buys Baugur’s 28% in Moss Bros
Sir Philip Green has bought Baugur’s 28 per cent stake in struggling menswear chain Moss Bros.
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Entry deadline extended for the Oracle Retail Week Awards
The industry is currently making exceptional efforts to ensure margins are maintained whilst continuing to improve the customer experience.
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WHSmith cautious on Christmas outlook
Bookseller and stationer WHSmith posted a 4 per cent rise in total sales in the first 10 weeks of its financial year but warned Christmas trading would be competitive.
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Sainsbury's reports interim profits leap
Supermarket group Sainsbury’s generated a surge in first-half earnings on the back of “universal customer appeal”, chief executive Justin King has said.
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Shop Direct earnings rocket
EBITDA at Shop Direct Group soared 130 per cent to 60.9 million last year.