All City & finance articles – Page 514
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NewsSports Direct confident after strong year
Sports Direct said it was on track to achieve full year underlying EBITDA of at least £160m as sales in the 9 weeks to March 28 grew 2.9% to £214m.
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NewsDobbies reports record sales at £104m
Tesco-owned garden centre retailer Dobbies recorded a 6.2% increase in like-for-like sales in the year to February.
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NewsGame’s two most senior executives exit
Game’s two most senior executives, including chief executive Lisa Morgan, have stepped down from the business as it revealed sharp falls in full year profits and turnover, and announced plans to close more than 100 stores.
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NewsBurberry expects record profits as UK outperforms
Burberry said its full-year profits will be “at record levels” following a stronger than anticipated end to the year.
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NewsFlying Brands’ garden division suffers from bad weather
Flying Brands’ garden division has been behind expectations due to bad weather with sales of bedding plants during spring.
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NewsAsos revenue up 35% as international sales surge
Online fashion retailer Asos achieved a 35% uplift in revenue to £223m in the year to March 31 with full-year pre-tax profits expected to be in line with forecasts.
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NewsPrimark sales and profits soar
Primark grew sales 19% to £1.26bn and profits 18% to £144m in the 24 weeks to 27 February.
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NewsSimon Wolfson doubles pay after £1m bonus
Next chief executive Simon Wolfson almost doubled his pay last year after receiving a £1m performance bonus.
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NewsCargo profits rocket after drive to cut costs
Furniture retailer Cargo - which operates the Cargo and Homestyle fascias - more than tripled its pre-tax profits in the year to June 27, 2009, as it slashed costs and benefited from the buying power of its parent, Steinhoff.
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NewsFaith on brink of sale as John Kinnaird battles for MBO
The outcome of the sale process for Faith was due to be announced as Retail Week went to press.
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NewsDream profits and sales for bed market leader
Bed retailer Dreams has bucked the downturn to achieve pre-tax operating profits up 36% to a record £18.4m last year as it drove costs down and benefited from economies of scale.
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AnalysisJapanese department stores’ decline continues
This month, Japanese department store operators Takashimaya and H2O Retailing Corporation scrapped plans to merge their operations by 2011.
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OpinionThe value of self-help
Self-help is the order of the day among retailers. The phrase has consistently peppered store chiefs’ City updates and analysts have compiled buy lists based on retailers’ capacity for self-help.
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NewsJD Sports profit rockets 61%
JD Sports Fashion pre-tax profit surged 61% to £61.4m in the year to January 30.
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NewsMorrisons claim shareholders blocked a competitive pay package for Marc Bolland
Morrisons has claimed shareholders blocked plans to increase pay awards for its former boss Marc Bolland who was poached by M&S to take over as its chief executive.
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NewsAcquisition of HobbyCraft still on Halfords radar
Halfords is thought to still be interested in acquiring arts and crafts retailer HobbyCraft as the deadline for final bids, April 19, draws closer.
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NewsMorrisons awards shares to Philips
Morrisons has awarded two tranches of shares to new chief executive Dalton Philips, who took up his role last week.
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NewsBlacks chiefs regain focus as Sports Direct backs off
Blacks Leisure’s management celebrated the end of “an unwelcome distraction” when rival Sports Direct decided not to proceed with a takeover attempt.
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OpinionBad news for grocers’ shares
Food retailers’ shares have been dull for a while, left on the shelf by investors seeking value among general retailers and in other sectors.
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NewsLow inflation deals blow to grocers’ shares
The lowest food inflation in three years may make life more difficult for the big grocers, whose shares have been lagging their general merchandise counterparts.