Latest finance news – Page 658
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RWC08: Specialists still have a place
Specialist retailers can survive amid growing supermarket power and soaring online sales, provided they focus on a differentiated customer proposition.
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RWC08: Dunstone rallies retailers
Carphone Warehouse founder and chief executive Charles Dunstone has opened the Retail Week Conference by challenging retailers to work harder to secure consumers’ shrinking discretionary spend.
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Dreams sold to private equity group Exponent
Bed specialist Dreams has been bought by private equity specialist Exponent for an undisclosed sum.
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Carrefour boardroom powershift clouds recovery
Big changes are on the cards at French retail giant Carrefour, which today posted a rise in sales and profits.
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Littlewoods suffers £24m losses
Pre-tax losses at Littlewoods Shop Direct reached 24.2 million in the year to April 30, 2007, as the group continued to feel the strain of its business restructure on its balance sheet.
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Gap makes profit comeback as leading US retailers falter
Gap has posted a fourth-quarter profit rise for the first time in three years and forecast further gains after it increased full-price clothing sales in the holiday season.
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Ideal shopping direct: the city view
The AIM-listed home shopping group posted a 3 per cent rise in pre-tax profits to 6.3 million before exceptionals, on sales up 13.1 per cent to 96.9 million.
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Moss Bros shares spike as offer from Baugur fuels investor fight
Menswear retailer Moss Bros was the week’s biggest riser as a bad-tempered battle for control raged. Members of the founding families, the board and associates of potential buyer Baugur all laid into each other, which can hardly be helping store performance.
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Gee family strikes back at McCarthy in Moss Bros war
Moss Bros director Rowland Gee has hit back at comments made by fellow board member Don McCarthy about family involvement in the business.
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Food prices continue to climb
Food prices have continued to soar. Inflation in February reached its highest level since December 2006.
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Ideal Shopping Direct pre-tax profits drop
Ideal Shopping Direct has reported a 6.2 per cent fall in full-year pre-tax profit to 5.8 million, but pointed to an encouraging start to 2008.
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Asda: family income down £5 a week
Rising food and petrol prices meant that the average UK family has 5 a week less to spend than last year, according to grocer Asda’s first income tracker survey.
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Dreams mulls £200m private equity deal
Bed retailer Dreams is understood to be on the verge of agreeing a 200 million deal to sell the retailer to Exponet Private Equity.
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Asda could carve up Somerfield
Asda is sounding out potential partners for a carve up of 900-store local grocery chain Somerfield, according to the Daily Telegraph .
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Next tipped as bid target for M&S
Credit Suisse has suggested that Next could be a bid target for Marks & Spencer, arguing that investors do not appreciate the extent of the structural problems facing Next.
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Dunelm: the city view
Homewares retailer Dunelm has reported interim pre-tax profit up 24.4 per cent to 27.2 million, but warned that second-half trading will prove tougher, writes Jennifer Creevy .
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Poor John Lewis trading fuels City fears as Tesco is attacked
John Lewis’s revelation that last week’s trading was the “toughest in recent memory” spooked an already panicky City.
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Dreams looks overseas as profits rocket 88%
Beds specialist Dreams is planning to launch overseas, as it posted an 88 per cent rise in full-year pre-tax profits to £13.3 million.
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Suppliers mull legal action over Stead
A group of footwear suppliers are considering legal action to recover full payment for stock delivered to Stead & Simpson before it was sold in a pre-pack administration deal to rival Shoe Zone last month.