Latest finance news – Page 656
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Magsons buys Toyzone out of administration
Toy and stationery distributor JA Magson has acquired Toyzone, the retailer that went into administration at the beginning of this month.
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First quarter trading worst since 2006
The credit crunch has contributed to the highest number of negative trading statements from listed retailers since 2006, according to Grant Thornton.
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Co-op needs to up Somerfield bid to seal deal
The Co-operative Group will have to raise its offer to buy Somerfield, which could result in a Competition Commission inquiry.
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M&S makes concessions to rebel shareholders
Marks & Spencer has made a series of concessions to its rebel shareholders in an effort to calm the row over Sir Stuart Rose’s planned elevation to executive chairman.
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Art falls into administration
Prints, posters and frames retailer Springfield Retail has gone into administration.
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‘An exceptional step in exceptional circumstances’
Marks & Spencer acts to justify Rose’s promotion in wake of shareholder opposition
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Tesco: the city view
As top grocer Tesco prepares to unveil full-year results a week on Tuesday, it finds its prospects for continued success increasingly under question.
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Stocks outperform market again as results season’s stars emerge
A raft of results and updates brought mixed news, but retailers’ stocks rose once again during the week and outperformed the market.
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M&S seeks compromise in Rose row
Marks & Spencer has suggested measures to defuse the bitter corporate governance row that erupted over the proposal to elevate boss Sir Stuart Rose to executive chairman.
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Debenhams chiefs shift shares
Debenhams chief executive Rob Templeman and chief operating officer Michael Sharp have transferred more than 300,000 shares to their wives.
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Private investors add voice to Rose’s role debate
A leading private shareholder organisation has added to concerns expressed by institutional investors about Marks & Spencer boss Sir Stuart Rose’s proposed elevation to executive chairman.
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Toyzone goes into administration
Toy retailer Toyzone has fallen into administration after failing to recover from difficult trading over Christmas.
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Lord Sainsbury moves shares ahead of CGT change
Lord Sainsbury said last night that he had reshuffled his stake in the grocer founded by his family in advance of changes to capital gains tax (CGT) that come into effect on Saturday, according to The Guardian .
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Sleep Depot falls into administration
Bed specialist Sleep Depot, which operates through more than 100 stores and concessions nationwide, has gone into administration.
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M&S to take majority stake in India joint venture
Marks & Spencer is poised to take majority control of a joint venture to be created imminently with Indian powerhouse Reliance Retail.
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Tesco halts roll-out of Fresh & Easy
Tesco has halted the roll-out of its US convenience store chain Fresh & Easy, fuelling renewed speculation about its performance on the West Coast, according to The Sunday Telegraph .
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Alexon profits rise as sales fall
Fashion group Alexon increased its operating profit before exceptionals to 10.5 million in the year to January 26, 2008, from 9.9 million the previous year.
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Private equity buyer closes on The Works
Troubled bargain bookseller The Works is on the verge of being sold to a private equity house for just 15 million.
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Clinton profit hike bucks market
Greeting cards giant Clinton Cards registered an 18 per cent jump in adjusted net pre-tax profits in the half year to January 27.
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EU probes Visa charges
The EU is to investigate the fees levied by Visa on cross-border credit and debit card transactions, it was announced today.