Latest finance news – Page 647
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Halfords: the city view
Car accessories and bikes retailer Halfords has bolstered its pole market position, revealing a total sales rise of 1.7 per cent, writes Nicola Harrison.
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Share bounce does little to ease pressure as City remains bullish
Retailers rallied after the misery of the past few weeks, but the mood among many sector analysts remained resolutely downbeat.
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All eyes are on Next as mid-market fears rise
The City will seize upon fashion retailer Next’s second-quarter update on Wednesday for signs of how bad high street conditions are.
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Blacks suffers like-for-like dip but revival plan starts to kick in
Blacks Leisure posted a 5.4 per cent like-for-like fall in group sales for the 19 weeks to July 12.
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Retail sales hit new low
Retail sales volumes dropped 3.9 per cent in June compared with May, according to figures from the Office for National Statistics (ONS), representing the sharpest decline since its records began in 1986.
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Instore independent directors warn shareholders
Instore’s independent directors are continuing to warn shareholders not to accept Seaham Investment’s 5p-a-share offer.
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Floors-2-Go enters administration
Flooring retailer Floors-2-Go has gone into administration, appointing Kroll as administrator. 41 stores will close, resulting in 97 redundancies.
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Management buy-out rescues ProCook from administration
Troubled cookware retailer ProCook has been bought out of administration by its management and a consortium of shareholders for an undisclosed sum.
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Diesel buys stake in Viktor & Rolf
Fashion retailer Diesel has acquired a majority stake in Dutch fashion brand Viktor & Rolf.
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General Trading Company falls into administration
Iconic London department store the General Trading Company has gone into administration, as predicted in this week’s Retail Week ( July 18 ).
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Inflation shock and sales slump send FTSE 100 and retail down
A market rally on Monday was reversed as a slew of bad news broke.
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M&S slashes men's suit to £24
Marks & Spencer slashed the price of selected men’s suits yesterday to only 24 as it started its summer Sale.
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John Lewis Sale puts retailer back on course
John Lewis has ended its falling sales trend with a strong week for its clearance Sale, recording sales up 5.9 per cent for the week to July 12.
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B&M Bargains pushes button on rapid growth as crunch lifts sales
Sales at B&M Bargains soared this year as consumers sought out discount prices in the wake of the credit crunch.
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Co-op chief: Somerfield integration will be easy
Co-operative Group chief executive Peter Marks has insisted the retailer’s integration of Somerfield will be smooth and without culture clashes.
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River Island targets Russia as overseas growth gathers pace
Young-fashion powerhouse River Island intends to break into the Russian market in the next stage of its overseas push.
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Ashley’s Sports Direct to go back to basics
Sports Direct founder Mike Ashley said that the retailer would go back to basics to cope with a trading environment it described as “the hardest we have faced in our history”.
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Administrations loom as retail gloom deepens
The retail sector was poised for another wave of administrations this week as high street trading conditions worsened.
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Blacks sales pick up with camping season
Blacks Leisure, the outdoor equipment and boardwear retailer, has suffered a 5.4 per cent fall in group like-for-likes in the financial year so far.
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Mothercare first-quarter sales advance
Mothercare has posted a rise in UK like-for-like sales and a surge in international revenues during its first quarter.