Latest finance news – Page 664
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Asda posts strong Q3 as it readies for Christmas
Grocer and general merchandiser Asda achieved “very positive sales results” in its third quarter, according to its parent company Wal-Mart.
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Pressure on King after Qatar bid collapses
Sainsbury’s chief executive Justin King will have to raise employee morale if the grocer is to continue its strong sales momentum of the past three years, following the collapse of Delta Two’s bid for the grocer this week.
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Bank of England holds interest rate
The Bank of England has kept the interest rate unchanged at 5.75 per cent for the fourth month in a row.
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M.Video float will give clear picture of Russia
M.Video has become the first electricals retailer to float on the Russian stock exchange and rivals are expected to follow.
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Sports Direct offloads Amer stake
Sports Direct, the sportswear group run by controversial entrepreneur Mike Ashley, has sold its stake in Finnish sports equipment manufacturer Amer Sports for about 116 million.
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Carphone profits soar ahead of iPhone launch
Carphone Warehouse reported a hike in pre-tax profits to 56 million, up from 14 million, as it prepares for the onslaught of the launch of the iPhone tomorrow.
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Shareholders back Coles takeover
Shareholders at Australian retail giant Coles Group have voted in favour of a US$16.6 billion ( 7.89 billion) takeover by rival Wesfarmers. More than 99 per cent voted in favour.
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Alexon to return cash to shareholders
Fashion group Alexon is to return cash to shareholders and revealed that trading has not improved since its interim results in September.
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Urban Outfitters sales soar
US fashion retail group Urban Outfitters posted record sales for its third quarter.
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Next delivers flat sales
Sales at fashion group Next were level in the 14 weeks to November 3, up just 0.4 per cent against the same period last year.
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PPR sales soar in third quarter
Luxury goods conglomerate PPR revealed third-quarter sales growth rocketed 22 per cent, driven by sales at its newly acquired Puma sportswear business, as well as demand for Yves Saint Laurent dresses and Bottega Veneta handbags.
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Marks & Spencer weathers first half
Marks & Spencer has reported an increase in pre-tax profit of 11.5 per cent for its first half, the 26 weeks to September 29 and revealed further details of its international expansion plans.
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Delta Two abandons Sainsbury's bid
Qatari investment vehicle Delta Two has abandoned its bid to acquire Sainsbury’s, leading to a sharp fall in the grocer’s share price in early trading this morning.
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Grocery inquiry keeps City busy as Sainsbury’s takeover teeters
Food groups and general retailers were at the heart of City action during a week driven by the Competition Commission’s early findings on the grocery market, takeover tensions and bid speculation.
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Hunter’s USC posts operating loss of £8.8 million
USC, the fashion chain owned by Sir Tom Hunter, made an operating loss of 8.8 million last year.
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Flat half-term sales at John Lewis
Sales at John Lewis were flat in the week to November 2, rising just a fraction by 0.3 per cent to 57.7 million.
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Next: signs of improvement close
An end to declining like-for-likes is in sight at fashion group Next, broker JP Morgan believes.
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Flying Brands profits hit but expansion continues
Home shopping retailer Flying Brands is to push ahead with global expansion, despite issuing a profit warning this week.
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Mothercare sales skyrocket as ELC deal begins to bear fruit
Mothercare’s acquisition of Early Learning Centre (ELC) helped push group sales up 38.3 per cent in the 13 weeks to October 13, exceeding City expectations.
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Land of Leather like-for-likes slump
Land of Leather recorded a poor first-quarter performance as it began to feel the effects of five successive interest rate rises.