All City & finance articles – Page 424
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AnalysisSainsbury's full year results: What the analysts say
Sainsbury’s has today reported a 1.4% fall in pre-tax profit to £788m for the year to March 16 while like-for-likes including VAT and excluding petrol were up 1.8%. Retail Week takes a look at the City reaction.
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NewsMorrisons scraps chief executive Dalton Philips' bonus
Morrisons chief executive Dalton Philips has missed out on his annual bonus as the grocer’s directors paid the price for its underperformance.
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NewsFrench Connection hires new finance director from O2
Embattled fashion retailer French Connection has recruited new group finance director Adam Castleton from telecommunications firm O2.
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NewsNext sales up but retailer remains cautious as wages decline
Next overall sales were up 2.2% in the 14 weeks to May 4 driven by new store openings.
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InterviewQ&A: Shapland on Carpetright's new hire and Lord Harris taking a step back
Carpetright today appointed former Tesco executive Graham Harris as trading director, to take over some of the responsibilities of chairman Lord Harris, who is taking a step back from the business. Retail Week speaks to chief executive Darren Shapland.
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OpinionComment: Argos proves to be Home Retail Group’s white knight
It’s just been announced that Home Retail Group’s annual sales have stayed more or less flat at £5.48bn, with pre-tax profits rising from £104m to £130m.
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NewsLord Harris takes backseat as Carpetright rejigs board
Carpetright founder Lord Harris is to scale back his day-to-day involvement in the retailer, which has reshuffled boardroom responsibilities.
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OpinionComment: Asos’ entrepreneurial culture delivers retail success
A fall in basket value might be a worrying sign at some retailers but at online fashion specialist Asos it does not look like a problem.
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NewsArgos to confront showrooming by introducing free instore Wi-Fi
Argos is to confront the trend of showrooming head on in a vote of confidence in the continued appeal of its retail proposition.
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NewsHomebase boss: 'We performed as well as we could in a tough market'
Homebase managing director Paul Loft insisted the DIY retailer performed “as well as we could” in a difficult market after reporting a full year profit slump.
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Analysis
Home Retail full-year results: What the analysts say
Argos revealed its first like-for-like rise in five years this morning, however profits at its parent Home Retail slumped 10%. Retail Week takes a look at the analyst reaction
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NewsArgos reports first like-for-like rise in five years driven by multichannel
Argos has recorded its first like-for-like sales rise for five years as the general merchandise retailer grew its multichannel business.
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NewsCarphone Warehouse to acquire Best Buy’s stake in joint venture
Carphone Warehouse has agreed to acquire the 50% of its European joint venture with Best Buy it did not already own for £471m.
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NewsOcado dismisses speculation of sale to Morrisons
Ocado has moved to quash speculation that Morrisons is interested in acquiring or taking a stake in the online grocer.
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NewsCompany profile: Beales
After several tough years the retailer’s new chief executive is trying to get sales moving.
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News
JCPenney unveils plans to enhance financial position
Troubled department store group JCPenney has unveiled plans to enhance its financial position, having burned through $10m (£6.56m) in the fiscal year ended February 2, prompting liquidity concerns. As part of the process, the retailer has drawn $850m (£556.7m) from its $1.85bn (£1.21bn) committed revolving credit facility. Proceeds will fund ...
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OpinionComment: Next Boss Wolfson’s bonus decision has wider implications
Next boss Lord Wolfson’s decision to share a £2.4m bonus with staff was not only eye-catching, it caught the mood of the times too.
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OpinionComment: How the retail sector rates as an investment opportunity
Investor and author Robert Allen once asked: “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”
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News
Rewe Group to invest in small online companies
Rewe Group is to invest in small online companies to gain ground in ecommerce.“We want to establish sort of a business incubator for start-ups,” chief executive Alain Caparros told business title Wirtschafts Woche. He said that Rewe may have underestimated the dynamics of online operations.Rewe also wants to extend its ...
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NewsN Brown scales back catalogues as it benefits from online revolution
Home shopping group N Brown is scaling back catalogues as online sales soar.