Latest finance news – Page 655
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Liberty commercial chief exits amid sale confusion
Liberty commercial director James Crespo has left the luxury retailer. His departure comes as confusion mounts over a potential sale of the business.
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Tesco full-year results lift spirits but general retailers disappoint
Tesco’s impressive full-year numbers helped recover sentiment, especially after bullish comment about the US, and grocers enjoyed a good week.
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99p Stores cashes in as credit crunch bites
Single-price retailer 99p Stores is benefiting from higher footfall as bargain-hunting consumers tighten their purse strings.
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NewsEthel Austin falls into administration
Value fashion retail Ethel Austin has gone into administration.
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Carphone Warehouse downgrades forecast
Carphone Warehouse has revealed robust mobile phone sales, but provided a weaker-than-expected outlook and growth in broadband customers.
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H&M like-for-likes drop 8%
Swedish fashion retailer H&M has reported a like-for-like sales fall for March of 8 per cent.
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Debenhams profits fall but targets hit
Department store group Debenhams managed to meet profit expectations in its first half and is to make efficiencies and improvements in expectation of continued tough trading conditions.
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JD Group enjoys solid year
JD Group has posted strong full-year results, with pre-tax profits soaring 103 per cent to 35 million.
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Tesco delivers strong profits and sales
Tesco has delivered bumper full-year profits and sales, and has mounted a robust defence of the performance of its fledgling US chain Fresh & Easy.
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Next plans new bonus scheme to revive share price
The bonus scheme introduced by Next in 2004 could be re-instigated by the retailer for its directors and executives, in an effort to drive its share price up, according to the Financial Times .
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M&S in line for £3.5m cake-tax refund
Marks & Spencer is poised to receive a substantial VAT refund over a 13-and-a-half year legal battle over chocolate teacakes.
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Mosaic bids to take Principles upmarket
Mosaic has unveiled the first fruits of its turnaround strategy at smart womenswear chain Principles, 18 months after acquiring the retailer.
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Gap sales take a plunge
Fashion retailer Gap's sales tumbled 12 per cent to US$1.37 billion ( 691.2 million) for the five weeks to April 5.
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Bank of England cuts interest rate to 5%
The Bank of England has cut the interest rate from 5.25 to 5 per cent, giving hard-pressed retailers a lift.
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Thriving sales in China offer route for growth
Chinese retail sales continue to soar in contrast to countries hit by the global downturn, ensuring the market will remain one of the most appealing to international retailers.
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Topshop and Topman set for record years
Young-fashion chains Topshop and Topman are on course for record years despite the savage downturn in the fashion market, owner Sir Philip Green revealed this week.
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BRC slams HSBC card plan
HSBC’s move to transfer its Maestro customers to Visa debit cards could cost UK retailers millions, says the British Retail Consortium.
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Shop price inflation slows in March
UK shop price inflation fell 0.2 percentage points to 1.1 per cent in March, which was the same level as November, according to the BRC-Nielsen Shop Price Index (SPI).
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Baugur to focus on retail following disposals
Serial investor Baugur is selling its media, technology and financial services operations to raise 430 million to fund future retail acquisitions.