Latest finance news – Page 642
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Cost of living soars in August
The cost of living in the UK rose 7.4 per cent in August, leaving the average family 11 worse off a week, according to Asda’s income tracker.
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Financial turmoil set to add to retailers’ woes
Intense turmoil in the financial markets precipitated by Lehman Brothers’ collapse will pile pressure on retailers’ finances, bankers have warned.
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Dunelm: the city view
Value homewares retailer Dunelm was one of the week’s winners after posting strong prelims.
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Financial market shockwaves hit as FTSE reaches three-year low
Turmoil in the financial market following the collapse of Lehman Brothers and banking sector panic pushed the FTSE 100 to its lowest point in three years on Tuesday.
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Ideal Shopping offers credit to persuade shoppers to spend
Ideal Shopping Direct is to test a short-term credit offer to encourage customers to spend through the credit crunch.
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Home Retail’s first-half slump lowers forecasts
Analysts took their red pencils to Home Retail forecasts after the downturn took a toll on Argos and forced the write-down of DIY chain Homebase’s carrying value.
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Ikea to rein in expansion as housing crisis slows growth
Swedish furniture group Ikea has revealed that sales growth has slowed over the past year and that it will curb its expansion plans as the global housing market stalls.
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London rent growth slows as credit crunch bites
London’s position as a safe haven in UK retail has weakened, according to figures published this week.
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Holland & Barrett buys Julian Graves
Holland & Barrett’s parent company NBTY Europe has bought its high street competitor Julian Graves from Icelandic investor Baugur.
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Inditex second-quarter profits rise
Fashion giant Inditex, owner of the Zara chain, has posted a surge in first-half sales and profits.
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Tesco launches into discounter arena
Tesco has today launched its biggest package of money-saving measures since the launch of its iconic Value range in a bid to become Britain’s biggest discounter.
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Carphone Warehouse deal to add $3.2bn to Best Buy sales
US electricals giant Best Buy expects its European venture with Carphone Warehouse – Best Buy Europe – to generate sales of US$3.2 billion ( 1.8 billlion) in the second half, it revealed today. However, the strength of the dollar is likely to dent the business’s performance when incorporated into Best ...
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Asda's Bond says food price inflation has peaked
Asda chief executive Andy Bond is confident that food price inflation has peaked, as the grocer launches over 5,000 price cuts across its ranges.
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Inflation climbs to 4.7 per cent in August
The annual rate of inflation rose to 4.7 per cent in August, an increase on the previous month’s 4.4 per cent rate, following hikes to food and energy bills.
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Kesa: City reacts to first-quarter power failure
City analysts have reacted with horror after electricals group Kesa reported a first-quarter sales slump at its top businesses.
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New season of negative updates gives retail analysts little reassurance
Retail had regained favour in the run-up to the reporting season, but the first set of updates brought a slew of bad news.
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Thorntons defies downturn with profits and sales surge
Confectioner Thorntons expects the trend for shoppers to focus on quality rather than quantity to help it ride out the economic storm and revealed gloom-busting preliminary results.
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August blow cements September sales fears
Analysts fear non-food like-for-likes will dip further in September, after the BRC revealed a comparable store sales fall of 1 per cent in August.
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Waitrose challenges Aldi prices
Waitrose boss Mark Price has thrown down the gauntlet to the discounters, claiming the upmarket grocer is cheaper than Aldi on its entry price points in five out of 25 product categories.
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Carphone Warehouse ejected from FTSE 100
Carphone Warehouse has been ejected from the FTSE 100, bringing retail’s representation on the blue-chip index to the lowest in memory.