All City & finance articles – Page 503
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NewsRetail’s stock rises as June sales tick along
Retailers achieved “decent sales growth” in June, the BRC reported, and store stocks rose over the week although they lagged the All-Share index.
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OpinionRetail M&A fears have become reality
Evidence suggests that the level of M&A activity in the sector has already slowed and we believe that it (and private equity investment, in particular) is likely to be more muted in the remainder of the year as what was previously feared has now become reality.
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NewsBurberry on strong upward trajectory
Luxury specialist Burberry reported a 24% hike in revenue to £291m for the three months to June 30, following a strong performance across retail and wholesale.
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OpinionNo cause to downgrade retail
More than half-way through 2010, many store chiefs’ comments remain wary to the point of downbeat. While the gloomy noises will hardly spark a sector upgrade, the prospects for a further downgrade don’t look any greater.
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NewsLa Senza seeks new chairman as sales and profits improve
Lingerie retailer La Senza is back in the black and searching for a new chairman to help its future growth after sales and profits took an upward swing
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NewsTM Lewin ups profit as it tests click-and-collect
Shirtmaker TM Lewin has embarked on a click-and-collect trial, as it reports that operating profit grew 7% to £9m in the year to February 28.
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NewsDreams expects to continue its rapid growth as more rivals fail
Bed specialist Dreams is set to notch up double-digit revenue growth this year on the back of its record year in 2009, but the retailer predicts more of its rivals will hit trouble.
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NewsPrimark defies the downturn with strong growth in sales
Value fashion retailer Primark has reported that full-year margins are expected to be ahead of last year despite rising input prices, which are forecast to hit the clothing sector generally.
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News
Jigsaw’s parent reports near doubling of losses
Losses at Robinson Webster Holdings, the parent company of womenswear retailers Jigsaw and Kew, almost doubled last year as a result of a currency fluctuations, deeper discounting and disposal of excess stock during the recession.
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NewsGrowth will be hard to maintain, says Dunelm
Value homewares retailer Dunelm has warned of toughening trading conditions, despite the likelihood that operating profits this year will be just ahead of expectations.
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NewsAll resolutions passed at Burberry AGM
Burberry shareholders voted in favour of all resolutions proposed at the luxury retailer and brand’s annual general meeting today, including directors’ remuneration.
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NewsSuperGroup posts £22.5m in pre-tax profit
SuperGroup, the young fashion business which owns brands Superdry and chain Cult, has posted £22.5m in profit before tax in its first set of annual results since it joined the stock exchange.
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Opinion
M&S AGM highlights
Today’s M&S AGM was the usual entertaining - and quintessentially English - affair.
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NewsShareholders pass all resolutions at Marks & Spencer AGM
All resolutions, including the controversial remuneration report, have been passed by the shareholders in the room at another high spirited M&S AGM.
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NewsTopps Tiles Q3 sales improve
Topps Tiles like-for-like sales decline has softened to -1.2% in the 13 weeks to July 3.
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NewsDunelm grows revenue but remains cautious on outlook
Dunelm like-for-likes grew 8% in the year to July 3 and the retailer expects full year operating profit to come in “a little ahead” of market expectations.
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NewsRetailers prepare for AGM pay rebellions
Leading retailers are preparing for a showdown with shareholders this week as director pay becomes the focus of investor anger.
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NewsOcado critic Philip Dorgan loses job
The analyst who was one of the most outspoken critics of Ocado’s IPO plans has lost his job.
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NewsShares sale by Sainsbury’s chief dampens bid speculation
Speculation that Qataris investors are mulling a bid for supermarket group Sainsbury’s has been undermined by a share sale by chief executive Justin King.
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NewsWickes revenue up 2.1% as it outperforms market
DIY retailer Wickes made market share gains in the 26 weeks to June 30.