All News articles – Page 1823
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News
Heron Frozen Foods sales jump but profits take a hit
Grocer Heron Frozen Foods has revealed a slide in its full-year pre-tax profits.
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Target experiences profit fall
General merchandise retailer Target experienced a profit fall from $602m to $522m (£379.4m to £329m) in the first quarter to May 2.Like-for-like sales in its retail arm deteriorated 3.2 per cent while total sales rose 0.4 per cent to $14.4bn (£9.08bn). It is the fifth consecutive quarter that Target’s sales ...
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Woolworths expects profit rise
Food and general merchandise retailer Woolworths expects a 20 per cent rise in full-year profits on the back of the sale of its stake in Woolworths Financials Services.The said its profit growth was aided by the R380m (£28.9m) it made from the sale of its stake. Woolworths is bucking the ...
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NewsLloydspharmacy to roll out online doctors
Lloydspharmacy is to roll out its online doctor service to about 300 stores this year as it seeks to drive its health-related sales.
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Dixy Group reveals net losses
Discount food retailer Dixy Group revealed that net losses last year were RUB324m (£6.6m) compared with a RUB429m (£8.7m) profit in 2007.The losses were mainly due to foreign exchange losses following the rouble’s decline against the dollar-denominated debt in its credit portfolio, amounting to RUB1.07bn (£21.7m).It was also hit by ...
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Sales declines hit Gap profits
Sales declines across all four of Gap’s divisions have led to a 14 per cent slump in first-quarter profits at the clothing giant.In the quarter to May 2 earnings were 15m (£135.5m), down from 49m (£156.9m) the year before. First-quarter net sales were $3.13bn (£1.97bn) compared with $3.38bn (£2.13bn) the ...
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NewsFindel considers rights issue
Home shopping group Findel may launch a rights issue to put its finances on a more secure footing.
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NewsReiss hires former Selfridges buyer in luxury drive
Reiss has hired a former head of buying designer brands for Selfridges as part of its drive to be the only “luxury” high street brand.
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Coles hires UK retail veteran Tony Buffin
Grocer Coles has hired another UK retail veteran, appointing former Boots group financial controller Tony Buffin as its finance director.Buffin was most recently European managing director of Groupe Aeroplan, an international loyalty management company. Previously, he headed Boots’ international healthcare strategy team.Buffin, who takes up his role in July, is ...
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BPF calls for help with regeneration scheme funding
The British Property Federation (BPF) has called on the Government to do more to fund retail and mixed-use schemes facing difficulties.
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NewsEx-Woolworths boss Tony Page targets landlords for investment
Former Woolworths director Tony Page is in fresh talks with potential investors as he seeks to raise cash to start up a new retail chain in the wake of Woolworths’ collapse.
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NewsBorders mulls larger-store disposals
Borders is in talks with restructuring specialists about disposing of some of its stores, although chief executive Philip Downer said no closures are imminent.
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Homebase focuses on loyalty to beat recession
DIY retailer Homebase has experienced a pick up in trade thanks to the good weather as it focuses on customer loyalty in the downturn.
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NewsAsda’s George to offer downloads with clothing
Asda clothing brand George has struck a deal with Universal Music giving shoppers free music downloads when they buy certain clothes.
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NewsAsda and Tesco battle for stores site
Supermarket giants Asda and Tesco are embroiled in a dispute in Coalville, Leicestershire, where both retailers have submitted plans to develop stores.
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NewsGoogle Product Search will allow price checking using mobile phones
A future where customers browse for products in stores while at the same time browsing the internet on their mobile phones looking for better deals just got a little bit closer to reality.
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Arcandor says Metro merger is no alternative to Government aid
Retail group Arcandor said that talks with Metro over a possible merger of the Karstadt and Kaufhof department store chains is no alternative to government aid. Arcandor spokesman Gerd Koslowski said: “Metro would have to bring the money we need for survival and it really doesn’t look like that at ...
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NewsScott Wheway to use Tesco and Boots experience after Best Buy move
US electricals retailer Best Buy will adopt the best practices of retail giants Tesco and Boots when it debuts in the UK next year.
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NewsGame’s share price slides after Gamestop’s caution
Computer entertainment group Game’s shares plunged after US giant Gamestop warned of falling sales last week.
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News
Lawson shelves plan to acquire rival
The country’s second largest convenience store chain Lawson has shelved plans to acquire rival am/pm. Lawson said it could not reach an agreement with the US-based competitor.The proposed acquisition would have cost the 9,500-store retailer ¥14.5bn (£97m). As part of the deal, am/pm wanted the majority of its 1,100 stores ...