Latest finance news – Page 637
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Home Retail: The City View
The Argos and Homebase owner warned that unless there is respite from the consumer slowdown full-year profits will come in at the low end of City expectations.
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JJB fortunes improve but bleak conditions bear down on most
Rising fears of recession and expectations that Christmas will not be merry for many retailers continued to weigh heavily on share prices.
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New Ideal Shopping chief to focus on multichannel profile
Mike Hancox, newly appointed chief executive of Ideal Shopping Direct, will concentrate on improving the retailer’s multichannel appeal when he takes the helm next month.
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NewsTravis Perkins warning reignites fears for DIY
Travis Perkins’ profit warning last week again sparked fears about the impact of the downturn on home and DIY retailers.
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Amazon cautious about Christmas sales
Online retailer Amazon is expecting an uncertain Christmas for 2008.
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Retail sales growth slows further
Retail sales volume growth has continued to slow in the three months to September, rising only 0.1 per cent.
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Wal-Mart's supplier standards drive could hit profits
Wal-Mart has admitted that its profits could be dented by plans to force Chinese suppliers to meet new quality and environmental standards or risk losing its business.
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DSGi to slash capex as like-for-likes fall
DSGi is to slash capital expenditure after revealing first-half like-for-likes tumbled 7 per cent.
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Sports Direct trading on track
Sports Direct has revealed today that trading is in line with expectations, but that it continues to be the hardest the group has ever experienced.
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Scotland: Worst retail sales growth since March 2006
Retail sales growth in Scotland was at its slowest rate in two and a half years in September, as consumer confidence and rising living costs squeezed spending.
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Tough outlook for Home Retail as profits fall
Home Retail Group has posted a plunge in first-half profits and warned that the full-year figure will be at the low end of expectations unless trading conditions improve.
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Arcadia profits fall
Sir Philip Green's Arcadia Group has reported a 6.1 per cent fall in operating profits, but its young fashion brands including Topshop enjoyed a record year.
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Debenhams profits tumble
Debenhams this morning reported a 16.9 per cent fall in full year profits before tax and exceptionals, and revealed plans to reduce its debt burden in response to City concerns.
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Sports Direct acquires 5% stake in JJB
Sports Direct has snapped up a 5 per cent stake in rival JJB to help shore up the struggling sports chain.
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London retail sales worst since 2005
Retail sales in London outperformed the rest of the country in September but were still the worst since summer 2005.
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Retailers to benefit from renewable energy savings
Retailers will welcome the Government’s decision yesterday to make the production of renewable energy more affordable for businesses.
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Baugur-backed retailers plan buy-outs
The management of a number of Baugur-backed retailers are putting plans in place to buy back equity and debt now controlled by the Icelandic government.
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Travis Perkins update sparks fears for DIY
Travis Perkins, the builders’ merchant that owns DIY chain Wickes, has warned that profits will be at the low end of expectations.
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Mothercare records robust second quarter
Mothercare has posted a slight uplift in UK like-for-likes and a rise in international sales.
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Icelandic turmoil puts brakes on debt deal
The complexity of Iceland’s financial meltdown and its banks’ connections with Baugur are delaying a sale of the investment company’s debt.