Latest finance news – Page 638
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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.
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Baugur: end of an era
The end of an era loomed this week with the likely break-up of Icelandic investor Baugur’s portfolio and the end of its influence on the UK high street.
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Justin King: bank rescue has begun to restore confidence
Sainsbury’s chief executive Justin King believes the Government’s banking bail-out this week has dramatically “moved the dial” and already started reviving consumer confidence.
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Clinton Cards to focus on staff as it battles to revive performance
Clinton Cards will focus on staff and leadership skills to drive sales back up, after posting a 5.2 per cent fall in like-for-likes at its Clinton’s chain and a decline of 2.5 per cent at its Birthdays fascia for the nine weeks to October 5.
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Banks' rescue stabilises markets but retail feels heat as shares dip
The Government administered emergency surgery on beleaguered banks but retailers remained under pressure as the share prices of grocers and general merchandisers alike fell over the week.
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City unease mounts as like-for-likes fall again
Retail like-for-likes slid in September for the sixth time in the past seven months, compounding City fears about the sector’s prospects as the traditional selling season nears.
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Kingfisher: the City view
DIY giant Kingfisher flew analysts to Turkey last week to show off Koctas, its joint venture there.
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Burberry keeps head above water
Burberry continued to deliver growth in its first half despite a “volatile and uncertain” market.
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The Entertainer holds out hope for Christmas despite sales blip
Toy retailer The Entertainer has revealed like-for-like sales dipped 3.7 per cent in the eight months to September 30, but remains “quietly optimistic” about Christmas.
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Solid growth for Kurt Geiger
Luxury shoe chain Kurt Geiger's EBITDA grew more than 24 per cent to 10 million in the year to February 2.
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TNS: Tesco sales growth lags rivals'
Grocery giant Tesco delivered the worst performance among the big four grocers in the latest TNS four-week figures.
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Private equity firms vie with Sir Philip Green for control of Baugur
Retail tycoon Sir Philip Green faces competition from leading private equity groups for control of embattled Icelandic investor Baugur’s UK retail operations.
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Best Buy Europe to double revenues in five years
Best Buy Europe, the joint venture between US electricals giant Best Buy and Carphone Warehouse, aims to double retail revenues and operating profit by March 2013, despite the uncertain economic outlook.
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Inflation hits 5.2 per cent
UK inflation continued to rise hitting 5.2 per cent in September, pushed up by rises in gas and electricity bills.
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Baugur in restructuring talks with BDO Stoy Hayward
Baugur has approached BDO Stoy Hayward to advise it on a restructuring and possible administration.
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Clinton’s sales plummet
Sales have plunged at greetings card specialist Clinton Cards in recent weeks, reflecting the tough trading environment.