Latest finance news – Page 665
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US bond issue first for Tesco
Supermarket giant Tesco has raised US$2 billion ( 967.7 million) in its first bond issue in the US.
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Metro Q3 sales climb
Metro has forecast a positive performance for the remainder of this year after recording healthy sales in its third quarter.
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United Carpets tells AGM trading as expected
United Carpets has reported at its Annual General Meeting this morning that trade is continuing in line with expectations, driven by its strategy to maximise revenues from existing stores and expand its franchise business.
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Home Retail: The City View
Interim group profits at the general merchandise and DIY retailer soared 40 per cent to 149.8 million on sales up 3 per cent to 2.74 billion, powered by Argos.
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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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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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Kingfisher and DSGi shares drop as Debenhams revives fortunes
A swathe of updates, deal gossip and big swings in share prices characterised the week.
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House of Fraser slashes debt
House of Fraser dramatically cut its net debt in the few months following its acquisition by a Baugur-led consortium in November last year.
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Morrisons posts jump in profits
Morrisons posts a sharp jump in profits, but analyst warn on sales growth
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Blacks calls off sale of Freespirit
Blacks Leisure has announced that it will not sell its Freespirit boardswear business, the subject of a controversial row with tycoon Mike Ashley earlier this year.
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Amazon profits soar in third quarter
Online retail giant Amazon revealed a four-fold leap in profits to US$80 million ( 39.1 million) in the three-months to September 30, boosted by strong sales of the final Harry Potter book, which became the fastest selling book of all time.
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Asda slashes prices by £150m for Christmas
Asda has unveiled its biggest Christmas price cuts of 150 million as it steps up its price war with rival Tesco.
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Flying Brands downgrades expectations
Strikes, the weather and Australian launch cited as home shopping group Flying Brand posts downbeat trading update.
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Debenhams full-year profits rise
Debenhams has reported pre-tax profits up 11.5 per cent in the year to September 1.
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Grocers stay ahead of the game as sector takes turn for the worst
General retail’s rally of the past few weeks hit the buffers as stores badly lagged in the All Share once again. Grocers outperformed, driven by Tesco’s bullishness and bid hopes for Sainsbury’s.
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Instore slashes losses in first half
Variety store group Instore has halved its losses in the first half to August 25, but does not expect the benefits of its improvement strategy to have a full impact until next year.
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Home Retail: the city view
Home Retail, owner of Argos and Homebase, preceded next Wednesday’s first-half figures with the acquisition of 27 stores from Focus DIY for 40 million.
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No washout for US as retail sales rise
September’s US retail sales have eased fears that warm weather and housing market woes will lead to the worst autumn season for clothing retailers since 2002.
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Mothercare driven by soaring multichannel sales
Mothercare has delivered a healthy second quarter performance, led by its UK multichannel arm Direct in Home, which reported a sales increase of 102 per cent – a 27.8 per cent like-for-like lift.
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Carrefour sales jump 5.5 per cent
Carrefour sales have risen 5.5 per cent to e23.11 billion ( 16.11 billion) in the three months to September 30.