Latest finance news – Page 662
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Co-op’s Marks admits interest in Somerfield
Co-operative Group chief executive Peter Marks said he would consider making a bid for rival chain Somerfield, as Co-op unveiled strong festive food sales.
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Bank of England holds interest rate
The Bank of England has held interest rates at 5.5 per cent, dealing a bitter blow to many hard-pressed retailers reeling from poor festive trading.
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News99p Stores to smash £100m sales landmark
Discount retailer 99p Stores has revealed that its annual sales will push past the £100 million point for the first time, following buoyant Christmas sales.
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London shop prices up 2.9 per cent in December
Shop prices in London rose 2.9 per cent in December compared with the same period in 2007, according to figures released by the London Retail Consortium (LRC).
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NewsFat Face sales jump
Fat Face has revealed sales soared 19 per cent to £61.7 million in the six months to December 1.
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Select on verge of administration
Women’s fashion chain Select Retail is understood to be on the brink of administration, the latest casualty of dire trading in the fashion sector.
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Carpetright: The City View
Founder Lord Harris called off his attempt to take Carpetright private just before Christmas.
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Kesa enters exclusive talks to sell BUT
Anglo-French electricals giant Kesa has confirmed that it is in exclusive talks to sell its French furniture and electricals business BUT to a private equity consortium.
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Second term for West End BID
Retailers have voted in favour of a second term for the New West End Company, which operates the area's Business Improvement District.
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Instore snaps up Ponden Mill stores
Value retailer Instore has bought 33 of the stores that trade as Ponden Mill, the homewares retailer that went into administration last week.
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Carpetright sale collapses
The proposed 850 million sale of Carpetright to its founder Lord Harris has fallen victim to the credit crunch.
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Retail sales volumes creep up
The volume of retail sales increased 1.1 per cent in the three months to November, according to the Office for National Statistics.
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Retail profit warnings soar in 2007
UK retailers have issued a record number of profit warnings this year, fuelling fears of a high street meltdown this Christmas.
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Stead & Simpson up for sale as fears mount over trading
Footwear chain Stead & Simpson has raised a for-sale sign just six months after refinancing, as speculation mounted that it continues to struggle.
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Mastercard ordered to axe cross-border charges
Mastercard charges imposed on retailers for consumers’ cross-border card transactions are likely to be abolished following a European Commission ruling this week.
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CBI survey reveals slow high street sales
Sales for the first half of December were the slowest on the high street for over a year.
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Landmark acquires 7% stake in Debenhams
Middle Eastern retail giant Landmark has taken a 7 per cent stake in UK department store chain Debenhams through investment vehicle Milestone, raising speculation that a bid for the UK store group may be in the offing.
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Baugur poised to make a move on Debenhams next year
Baugur is expected to launch a bid for Debenhams in partnership with an overseas department store business early next year.
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Baugur poised to make a move on Debenhams next year
Baugur is expected to launch a bid for Debenhams in partnership with an overseas department store business early next year.
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Arrogant Cat to expand shop base in retail push
Arrogant Cat has earmarked 5 million to quadruple its UK store numbers and kick off international expansion. expand shop base in retail push