Latest finance news – Page 652
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Credit Suisse cuts ties with Sports Direct
Investment bank Credit Suisse has ended its relationship with Sports Direct as corporate broker.
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Woolworths to sell stake in 2entertain
Woolworths has appointed UBS to sell its stake in DVD publisher 2entertain.
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JJB buys shoe chain Qube
Sports retailer JJB Sports has snapped up Qube Footwear for 1 from West Coast Capital.
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Laura Ashley snaps up 2.2 million Moss Bros shares
Laura Ashley has upped its stake in Moss Bros to 9.79 per cent as Icelandic investor Baugur continues to circle the menswear group.
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MK One enters administration
Value fashion retailer MKOne, which was bought by restructuring firm Hilco from Baugur earlier this month, has gone into administration.
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Next: The City View
The trading climate’s harshness was highlighted by the sigh of relief and share-price rise that greeted Next’s 8.9 per-cent like-for-like first-quarter sales fall.
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M&S staff face bonus cuts
Marks & Spencer staff will see their annual bonuses slashed despite the retailer generating profits of more than 1 billion last year.
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NewsInvestors queue up to revive troubled chains
A string of beleaguered value chains that have hit the buffers recently face a new beginning next week.
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New lows for New Heights, but five shops saved
A handful of New Heights stores have been rescued by Sofa Workshop after its sister furniture retailer collapsed into administration this week.
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Borders puts Paperchase on market following review
Paperchase has been put up for sale by its US owner Borders.
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Justin King lambasts ONS’s inflation stats
Sainsbury’s boss Justin King this week hit out at the Government’s official inflation figures, saying they were giving a misleading view of the grocery market.
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DSGi on course for £1bn online sales
DSGi group chief executive John Browett was poised to reveal that annual online sales at the retailer had passed 1 billion for the first time in his eagerly anticipated strategic review.
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MFI to slash a third of head office and support jobs
Furniture retailer MFI is to axe about a third of its head office and central support staff, as it enters a new phase of its five-year turnaround plan.
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Icelandic court nears verdict on Jóhannesson
Iceland’s Supreme Court is expected next month to rule on the long-running allegations of fraud against Baugur executive chairman J n sgeir J hannesson.
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Sir Tom Hunter fails to halt Dobbies rights issue
Tycoon Sir Tom Hunter has failed in his attempt to halt a rights issue by garden centre Dobbies.
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First impressions: Browett's big day
There was an absence of much-anticipated blood on the carpet today when new DSGi chief executive John Browett unveiled his strategic review.
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TK Maxx posts strong sales
TK Maxx's like-for-like sales rose 6 per cent in for the first quarter of this year in Europe.
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Tesco buys South Korean Homever stores
Tesco has bolstered its South Korean business with the acquisition of 36 Homever stores for 958 million.
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Rising inflation deals rate blow
The annual rate of inflation leaped to 3 per cent in April, from 2.5 per cent in March, according to the Consumer Price Index (CPI).
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New Heights enters administration
Upmarket furniture retailer New Heights has collapsed into administration, the latest furniture retailer to fall victim to the tough economic climate.