Latest finance news – Page 668
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Clinton Cards prelims impress
Clinton Cards has posted preliminary results ahead of City expectations.
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Strong first half for N Brown
Home shopping group N Brown has delivered strong first-half results, with like-for-like sales up 10.6 per cent.
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Retail sales up 3 per cent
UK retail sales rose 3 per cent on a like-for-like basis last month, compared with September 2006 when sales were up 2.4 per cent, according to the British Retail Consortium (BRC).
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Lord Harris on brink of making Carpetright bid as sales soar
Lord Harris, chairman and chief executive of Carpetright, is poised to make a cash offer for the retailer after receiving the go-ahead to make a bid from the carpet retailer’s board.
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Cold weather drives sales at John Lewis
Strong clothing sales following the start of the colder, autumnal weather helped drive sales at John Lewis in the week to September 29.
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Asos sales soar again
Fashion e-tailer Asos is likely to make profits of 8 million by March 2009 as sales rocket, Lisa Berwin writes.
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Sector sees long-awaited surge as Leahy soothes nervous City
The sector entered its golden quarter on a high as, at last, the retail sector shot up. Ironically, bullish comments from Tesco boss Sir Terry Leahy – typically more likely to drive other retailers’ share prices down – prompted a shift in sentiment.
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Findel drops demerger plans as group sales jump by 32%
Findel has decided not to proceed with a demerger of its home shopping and educational supplies division, despite City enthusiasm for the idea.
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Deutsche cuts target price for Sainsbury’s
A top City bank has downgraded its Sainsbury’s share price target ahead of the grocer’s second-quarter update next week.
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Bank of England dashes hopes of rate cut
The Bank of England has maintained the interest rate at its six-year high of 5.75 per cent, putting paid to retailers’ hopes of a decrease.
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Marks and Spencer ticks green boxes with energy-slashing eco store
Marks and Spencer welcomed shoppers to its first eco store in Bournemouth yesterday. The retailer expects the 51,000 sq ft retro fitted shop to use 25 per cent less energy and have a carbon footprint 92 per cent lower than a conventional branch of the same size.
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Lambert Howarth falls into administration
Footwear, accessories and homewares supplier Lambert Howarth has gone into administration, resulting in the loss of 72 jobs.
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Halfords drives like-for-like growth
Bike and auto accessories specialist Halfords has posted like-for-like sales up 5.5 per cent for the 26 weeks to September 28.
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Ted Baker posts robust interims
Ted Baker has posted strong interim results led by its retail division.
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Goldsmiths watch sales set to drive record profits
Jeweller Goldsmiths has forecast record profits this year on the back of booming sales, especially of watches.
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Food drives shop price rise
High street price inflation increased slightly in September, with overall prices 0.4 per cent per cent higher than a year ago, the same year-on-year rise in August, according to the BRC Shop Price Index (SPI).
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Profits edge up at Bhs
Billionaire entrepreneur Sir Philip Green said his Bhs business now has a “good platform from which to develop”, after stabilising performance last year.
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Carluccio's turnover surges 18 per cent
Turnover at Italian homewares and catering company Carluccio’s jumped 18 per cent against the previous year.
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Tesco profits robust in first half
Tesco has posted a healthy increase in pre-tax profits for the six months to August 25, although its UK like-for-likes sales were affected by the wet summer weather.
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Findel first-half sales rocket
Home shopping retailer Findel reported strong first-half sales growth of 32 per cent across the business.