Latest finance news – Page 640
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EBay cuts jobs in tough trading climate
Pure-play online giant eBay is to axe 10 per cent of its workforce in an attempt to streamline the business.
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Aurum posts robust sales
Baugur-backed jewellery group Aurum has posted annual sales of 261.7 million, an increase of 7.7 per cent on the year and 7.4 per cent on a like-for-like basis.
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N Brown continues to defy the downturn
Home shopping group N Brown continued to defy the downturn with pre-tax profits soaring 19.6 per cent to 40.8 million in the six months to August 30.
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Bhs operating profits slump
Bhs has posted a 40 per cent fall in full-year operating profit to 30.2 million.
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Ghost 'seeking funding solutions'
Womenswear retailer Ghost is exploring alternative funding solutions, which could include the withdrawal of its backers from the business.
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Baugur reassures Icelandic turmoil will have 'no impact'
Baugur has quashed speculation that turmoil in the Icelandic banking sector may have an effect on the Icelandic investor’s UK retail portfolio.
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Icelandic economic turmoil stokes Baugur fears
Concern over the impact of Iceland’s financial crisis on Baugur’s retail interests in the UK has continued, despite the investor’s attempts to calm fears.
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Retailers face insolvency in new year
Hundreds of UK retailers face the risk of going bust in the new year.
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JJB loses supplier credit insurance
JJB Sports faces further uncertainty after the UK’s largest credit insurer Coface decided to pull the cover for its suppliers.
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JJB sports: The city view
JJB Sports’ interim results were shrouded with controversy when the auditor’s report revealed a dispute with Bank of Scotland over an alleged breach of banking covenants.
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General retailers bear brunt as financial market woe ricochets
Turmoil continued to engulf global financial markets and general retailers were again worse hit than the All Share index, despite some impressive updates.
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Icelandic saga is not over yet
Gory scenes tend to loom large in Icelandic sagas and the financial story unfolding there is proving no exception. The question is, will UK retail feature in one of its bloodier chapters?
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Profits soar at Game but like-for-likes slow
Computer entertainment group Game revealed record interim pre-tax profits on Tuesday.
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French retail market will be ‘first to bounce back’
The French retail market is set to prove more resilient than its European counterparts as industry observers predict the country will lead a European retail recovery next year.
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Sir Terry Leahy: Tesco will adapt to downturn
Tesco has admitted its Finest and Organics ranges have stopped growing, as shopper patterns change in the wake of the economic downturn.
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Retail on the ropes
Sector left reeling as relentless financial crisis leads to dramatic sales slump over past fortnight
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Miss Sixty falls into administration
Sixty UK, the business behind young fashion brand Miss Sixty, has gone into administration.
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Baugur boss reassures on retail portfolio
Baugur has quashed speculation that it will suffer as result of the nationalisation of Icelandic bank Glitnir and the administration of Stodir, an investment business controlled by Baugur executive chairman Jon Asgeir Johannesson.
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Negative retail updates soar in third quarter
Quoted retailers posted more negative updates in the third quarter than at any point in the last two years.