Latest finance news – Page 649
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Cookware retailer ProCook enters administration
Kitchen equipment and cookware retailer ProCook has gone into administration.
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Matalan profits double
Value clothing and homewares group Matalan almost doubled profits last year.
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Beales sales slump
Department store operator Beales has recorded a 6.4 per cent drop in like-for-like gross sales and warned there will be no uplift for the remainder of its financial year.
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Kesa: The City View
The Anglo-French electricals combine reported a rise in retail profit of 3.1 per cent to 141.3 million in the 12 months to April 30, when revenues rose 14 per cent to 4.51 billion.
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Grocers’ shares tumble as shoppers embrace discounters
TNS data showing rapid market share growth by hard discounters contributed to a fall in the share prices of quoted grocers. Meanwhile, general stores slipped still further as trading difficulties – real and imagined – undermined sentiment.
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Land of Leather poised for £15m rescue deal
Sofas retailer Land of Leather is to launch incentives for key staff through a programme of options and awards once its 15 million share placing has been completed.
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Trading trauma forces Ilva into administration
Ilva has become the latest big-ticket retailer to hit the buffers as the downturn bites.
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Cash-strapped consumers are trading down
Shoppers are less likely to treat themselves and are increasingly choosing value retailers or retailers’ own-label brands, according to an ICM poll carried out exclusively for Retail Week .
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Qataris up Sainsbury's stake
Sainsbury’s shares soared last night on the news that the Qatar Investment Authority (QIA) increased its stake in the supermarket giant to about 25.3 per cent.
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Retail sales continue to disappoint
Retail sales have proved lacklustre for the third month running in June, according to the CBI.
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JJB shares soar on buy-out rumours
Shares of JJB were given a boost as rumours of a management buy-out began to circle.
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Baugur sells Booker stake as part of focus on retail
Icelandic investor Baugur has offloaded its 31.4 per cent stake in cash and carry business Booker as it concentrates on retail.
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Theo Fennell profits up
Upscale jeweller Theo Fennell pledged further international expansion, plans for a new Bond Street store and product extensions as it announced a profits increase for the last financial year.
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Simon Berwin buys Gee family stake in Moss Bros
Simon Berwin has acquired a 4.25 per cent stake in Moss Bros from founding family shareholders the Gee family.
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Kesa warns on consumer confidence
Electricals giant Kesa has reported a 3.1 per cent increase in group retail profit to 141.3 million for its new financial year, but warned of difficult trading ahead.
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Tommy Hilfiger posts record results
Fashion retailer and lifestyle brand Tommy Hilfiger has announced record results for the year to March 31.
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Debenhams 'extends payment terms to suppliers'
Debenhams has extended payment terms to its suppliers as it continues to be hit by unrelenting tough trading on the high street, according to weekend reports.
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Sainsbury’s: the city view
Sainsbury’s reported slowing sales growth in the past three months, but said performance was in line with expectations.
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General retailers knocked again as more industry sagas unfold
It was a week of high drama for general retailers as veteran Woolworths chief executive Trevor Bish-Jones unexpectedly decided to stand down and furniture groups sought emergency finance.
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Sofa drama nears climax
It is hard to believe that less than three months ago, as he posted interim results, ScS chairman Mike Browne was “confident of a profitable second half”.