All City & finance articles – Page 497
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NewsSnow+Rock sets out plans to grow as management buyout team takes over
Snow+Rock managing director Dion Taylor has said he will open further stores following the management buyout of the company that was completed this week.
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NewsHMV hopes Christmas will halt sales plunge
HMV anticipates a good Christmas despite like-for-likes at its eponymous entertainment chain plunging 14.9% in the first quarter.
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NewsDebenhams profits will trump City expectations
Department store group Debenhams expects headline profit before tax and exceptional items to hit £150m in the year to August 28, ahead of market expectations.
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OpinionDon’t read the last rites yet
Store stocks are enveloped in as deep a gloom as the Addams family’s mansion. But retail shares are not zombie investments and it’s too early to call in the undertakers.
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NewsFashion retailers more positive as sector lifts
General retailers held their own in the run-up to Wednesday’s results from fashion groups French Connection and Next, which both made bullish noises about performance.
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NewsKingfisher reports profits surge but warns on ‘fragile’ outlook
Kingfisher group adjusted pretax profit surged 22.9% to £354m in the 26 weeks to July 31, but warned that the “outlook for consumer spending is fragile”.
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NewsDunelm profits up, Halfords FD Nick Wharton to become new CEO
Dunelm has reported a pre-tax profit surge of 46% to £76.8m in its full year, and revealed that chief executive Will Adderley will assume the new role of executive deputy chairman with Halfords group finance director Nick Wharton taking over as chief executive.
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NewsFindel appoints Roger Siddle as chief executive
Home shopping group Findel has appointed Roger Siddle as its chief executive with immediate effect.
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NewsSnow+Rock sold to management
Outdoors specialist Snow +Rock has been bought by its management, backed by private equity firm LGV capital, for an undisclosed sum.
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NewsSupergroup sales continue to soar
Supergroup’s sales continued to rocket in the three months to 1 August, with total sales up just under 60% on the same period last year.
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NewsProfits to climb at Debenhams
Department store group Debenhams expects profits to rise strongly this year after a product mix shift lifted margins.
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NewsPrimark sales up after strong performance in Europe
Value fashion giant Primark has continued to perform well over 2010 driven by a “very stong” performance in continental Europe.
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NewsLaura Ashley first half profits surge
Furniture and fashion retailer Laura Ashley experienced a surge in pretax profits excluding exceptionals from £100,000 to £5.7m in the 26 weeks to July 31.
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OpinionComet follows a new path
Kesa has been proving more popular of late, thanks in part to stakebuilding by activist investor Knight Vinke and Comet’s project to differentiate and broaden its appeal
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NewsSports Direct impresses as profits and sales soar
Sports Direct delivered strong profits in its first quarter helped by a good performance during the World Cup, despite the very disappointing showing from the England team.
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NewsEncouraging signs for general retailers
General retailers were up again over the week, outpacing their food peers and just about keeping pace with the All-Share Index. They are still down over the year, though.
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NewsStrong profits predicted for Next
Broker UBS retained its buy stance on Next ahead of interim results expected next week.
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NewsShareholders approve Dixons name change
DSG International will revert to being called Dixons Retail after shareholders approved the plans at the electricals group’s AGM today.
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NewsStrong first quarter for Sports Direct
Sports Direct had a strong first quarter despite a poor performance from the England team in the football World Cup with sales up 8.8% to £408m in the 13 weeks to July 25.
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News
New Poundworld stores help sales to rocket 40%
Poundworld, the Yorkshire-based single-price retailer, reported a 40% surge in sales in its last financial year owing to new store openings and the VAT reduction.