Latest finance news – Page 644
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Price rises to hit non-food
Price hikes of more than 6 per cent on non-food items such as T-shirts, shoes and sofas are possible next year, because of the sterling’s collapse against the euro and the dollar.
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Ireland’s Pavilions development unveils blueprint for extension
Irish developer Chartered Land has submitted an application for an extension to its Pavilions shopping centre at Swords, north of Dublin, which would significantly increase the scheme’s retail offer.
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Out-of-town retail parks to ‘lead retail renaissance’
Out-of-town retail is set to bounce back from the economic gloom and will be more successful than town centres in instigating a retail resurgence, a Verdict survey has claimed.
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Adili seeks extra funding
Ethical fashion e-tailer Adili is seeking additional funding by issuing share capital to its largest investor Hawk Investments.
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Asos chief nets £352,000 in pay and bonuses
Asos chief executive Nick Robertson took 352,000 in pay and bonuses last year after bucking the downturn and more than doubling pre-tax profits at the business to 7.3 million.
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Smallbone trebles profits
Furniture retailer Smallbone became the latest luxury retailer to buck the downturn, more than trebling its pre-tax profit for the six months to June 30. However, the retailer remains cautious about the future trading environment.
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NewsWoolworths shareholder backs Malcolm Walker bid rejection
Woolworths’ biggest shareholder is backing the variety store retailer in its rejection of Malcolm Walker’s £50 million bid, according to The Sunday Times.
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JJB Sports: The City View
Buy-out speculation once again engulfed JJB Sports, which is thought to have enjoyed a trading fillip stimulated by the UK’s strong Olympics performance.
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Bid speculation nudges share prices up in short trading week
General retailers climbed over the week, partly buoyed by bid speculation about Woolworths and JJB Sports (see The City View below), but the grocers’ share price rise was more muted as the market digested last week’s data.
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35 retailers back Green’s letter to landlords
Sir Philip Green has written to some of the UK’s biggest landlords on behalf of 35 retail groups in an attempt to bring key aspects of how retail property is leased into the modern era.
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Analysts forecast DSGi sales drop as update approaches
Electricals group DSGi is expected to reveal a sales decline at next week’s AGM.
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Q2 wipeout bodes ill for shopper spending
Fears of recession have grown after UK economic growth collapsed in the second quarter.
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Worst retail figures in 25 years, CBI reports
Wet weather and difficult trading conditions have resulted in the worst retail performance for 25 years.
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Concerns raised over Woolworths covenants
Variety store group Woolworths is likely to stretch its banking covenants to the limit and fail to pay a dividend for the next two years, an analyst has warned after a company visit.
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Ahold margins hit by promotions
International retailer Ahold has taken a margin hit and missed analysts’ forecasts after spending heavily on price promotions during its second quarter.
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Liberty losses widen after investment
Pre-tax losses at Liberty have increased in the first six months of the year as the iconic department store continues to invest in its Liberty of London brand.
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Styles & Wood profits nosedive
Styles & Wood, the UK's largest shopfitter, has seen pre-tax profits crash by 53.8 per cent to 2.4 million in the year to June 30.
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Superquinn up for sale
Sainsbury’s, Tesco and Asda are all reportedly interested in buying Superquinn, the Irish grocer that has retained Goldman Sachs to advise on a sale.
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BPF president warns of rent reform dangers
Small retailers could face greater demands for rental deposits if there was a widespread move to monthly rent payments, one of the most powerful figures in retail property warned this week.
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Tesco local sourcing sales to reach £500m
Tesco is on course to generate more than 500 million from the sale of locally sourced food and drink sales this year, according to The Times .