Latest finance news – Page 661
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Kesa share buy-back to follow BUT sale
Electricals group Kesa expects to complete the €550 million ( 409 million) sale of French furniture chain BUT next month and will return cash to investors via a share buy-back programme.
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JJB gives green light for Nike’s Umbro deal
JJB Sports has backed sports brand Nike’s proposed acquisition of England football shirt manufacturer Umbro.
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Alliance Boots seals China partnership
Alliance Boots has completed the formation of its joint-venture company in China, Guangzhou Pharmaceuticals Corporation (GP Corp), for approximately 41 million.
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Sir Tom Hunter sells D2
Sir Tom Hunter has sold his clothing and footwear chain D2 in a multimillion-pound management buy-out in an effort to 'declutter' West Coast Capital's retail operation.
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Littlewoods moves on Empire Stores
Littlewoods has announced that it intends to buy Empire Stores' debtor book after it was reported that its owner Redcats was closing the business.
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Shoe Zone poised to swoop on Stead & Simpson
Footwear chain Shoe Zone is understood to have bought Stead & Simpson in a deal that is likely to be finalised today.
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NewsJim McCarthy: downturn won’t hit value sector
Poundland chief executive Jim McCarthy has claimed the value retailer is well-placed to weather any storm if the economy deteriorates sharply after posting strong Christmas sales.
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Emergency rate cut in US helps store groups outperform at last
The US Federal Reserve’s emergency rate cut – the biggest in 25 years – helped markets rise mid-week and gave store groups a lift.
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Kinnaird plots rescue for top Dolcis stores
Retail entrepreneur John Kinnaird will next week approach landlords to renegotiate leases on the top-performing Dolcis stores in an effort to salvage something from the chain that went into administration this week.
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M&S eyes Somerfield
Marks & Spencer is understood to have expressed an interest in acquiring some Somerfield shops.
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NewsTJ Hughes puts paid to plunging profits with a positive Christmas
Discount department store group TJ Hughes has delivered a substantial turnaround from a profit slump of almost 100 per cent in the year to January 2007.
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Musgrave completes store divestment programme
Food group Musgrave has completed the sale of its company-owned UK stores to independent retailers.
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King hints at interest rate cut
Bank of England governor Mervyn King has hinted that interest rates may be cut next month.
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Asda's interest in Somerfield hots up
Asda is thought to have engaged investment bank Lazard to advise it on a potential 2.5 billion bid for Somerfield, according to The Times .
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Dolcis enters administration
Beleaguered footwear chain Dolcis has today been placed in administration after owner John Kinnaird lost the battle to save the retailer.
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Kinnaird in talks to buy Envy
Retail entrepreneur John Kinnaird is understood to be in talks with fashion group Alexon to buy its struggling menswear chain Envy.
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Consumer spending growth to slide in 2008
Retail consumer spending growth is likely to drop to 2.6 per cent this year, compared with 3.7 per cent in 2007.
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BRC accuses card schemes of secret retailer fee hikes
Allegation comes as abolition of controversial interchange fees appears likely By Charlotte Dennis-Jones
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Sainsbury's buys Curley’s in Northern Ireland
Sainsbury’s has bought two supermarkets from independent, Northern Ireland family retail business Curley’s in a multimillion-pound deal.
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ScS warns on profits after poor Sales
Furniture retailer ScS Upholstery has delivered another profit warning after a “disappointing” Sale period.