All City & finance articles – Page 453
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NewsDrama dominates as Kesa sells Comet
Stores shares advanced across the board in a week dominated by dramatic corporate action and results from some of the industry’s biggest names.
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OpinionM&S strategy looks sound
So far so good for Marc Bolland. While the Marks & Spencer chief executive revealed a fall in first-half profits this week, the overall performance was in line with analysts’ expectations and most onlookers breathed a sigh of relief.
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NewsMorrisons targets bulk buy payday offers
Morrisons is targeting payday wage packets with bulk buy offers.
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NewsWHSmith like-for-likes fall 6%
WHSmith has revealed a like-for-like sales slump of 6% in 10 weeks to September 1.
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NewsMorrisons remains cautious as like-for-likes rise 2.4%
Grocer Morrisons has revealed a like-for-like increase excluding fuel of 2.4% in the 13 weeks to October 30, despite conditions remaining “challenging”.
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InterviewQ&A: SuperGroup boss Julian Dunkerton and chief financial officer Chas Howes
Retail Week speaks to SuperGroup’s chief executive Julian Dunkerton and chief financial officer Chas Howes following its second quarter update.
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NewsSainsbury's profits up 6.6% in first half
Sainsbury’s has reported “strong” sales with underlying pretax profit up 6.6% to £354m, excluding gains on property sales.
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NewsSuperGroup warehouse glitch slows sales growth
SuperGroup sales growth slowed in its three months to October 30 as its warehouse glitch takes its toll on sales.
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NewsComet sold to OpCapita for £2
Turnaround private investment firm OpCapita has bought electricals retailer Comet from owner Kesa for £2.
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NewsThorntons FD to exit next year
Thorntons finance director Mark Robson has left the chocolatier after two years with the business.
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NewsBest Buy UK big box stores to shut
Electricals group Best Buy is to close its big boxes in the UK and partner Carphone Warehouse’s will instead focus on developing its ‘connected world’ store model.
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NewsHobbs profits soar on record sales
Upmarket womenswear retailer Hobbs’ pre-tax profits soared 137% on record sales in the year to January 29.
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AnalysisAmazon’s profits hit as it focuses on long-term gains
Last week Amazon recorded a 73% fall in net profit to $63m (£39.1m) during its third quarter ended September 30 compared with the same period last year, despite sales jumping 44% to $10.88bn (£6.75bn).
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NewsUncertain outlook knocks retailers hard
General retailers had a bad week as their stocks declined by twice as much as the wider market, which took a knock as the eurozone crisis dragged on and pundits argued over the UK’s economic prospects.
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OpinionM&S steady in rough seas
Amid renewed economic gloom and relentlessly downbeat consumer sentiment, next week brings a chance to gauge the sector’s temperature as some of retail’s biggest beasts report.
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NewsBlacks appoints Dominic Lavelle as interim finance director
Embattled retailer Blacks Leisure has appointed Dominic Lavelle as interim finance director.
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OpinionStill deals to be done despite volatility
It is no great surprise that the mergers and acquisitions environment has been getting much tougher over recent months with increasingly volatile trading conditions and darker consumer outlook – but more about that later, what has happened so far this year?
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NewsStore Twenty One to push trend-led fashion
Value clothing and homewares retailer Store Twenty One is to further increase its fashionability after its trendier lines helped it bounce back into the black.
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NewsNo respite for furniture retailers until 2014
Battered furniture and flooring retailers will not have any relief from punishing conditions until 2014 as the housing market remains stagnant.
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OpinionArgos will have to fight in China
Back in the summer, at the time of Home Retail Group’s full-year results, I asked Terry Duddy whether international expansion might make sense for Argos.