All City & finance articles – Page 533
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NewsSigns of improvement for big-ticket retailers
There were indications of improved prospects among hard-pressed big-ticket retailers as Home Retail Group and Kesa issued updates and Carpetright held its AGM.
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NewsMarc Bolland vows to maintain growth at Morrisons in tough second half
Morrisons chief executive Marc Bolland has vowed that the Yorkshire-based grocer will continue to increase sales ahead of the market, despite facing tougher comparatives in its second half.
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NewsRetail rally halted by bout of profit taking
Store shares suffered a poor week, despite the reporting season getting off to an encouraging start.
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NewsLuke Johnson lambasts credit insurer ‘oligopoly’
Entrepreneur Luke Johnson has labelled credit insurers an “oligopoly”, citing their “en masse” withdrawal or reduction of coverage to the retail sector.
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NewsFurniture Village profits hit by crunch
For the year to March 29, profit before interest and tax was £2.4m, down from £7.1m a year earlier, when the retailer recorded its best-ever profit. Total sales fell 9.4% from the previous year to £162m, and like-for-likes were down 12.4%.
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NewsDebenhams update reveals steady year
Debenhams has delivered a robust full-year trading update and said profits are likely to come in ahead of last year’s.
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NewsZara goes online as Inditex profits decline
Fashion giant Inditex has suffered a profit drop of 8% to €375m (£330.6m) in the first half of the year as it revealed plans to launch its Zara brand online.
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NewsNext’s Simon Wolfson: sentiment won’t recover with economy
Next chief executive Simon Wolfson does not expect any fundamental return to improved consumer sentiment despite emerging signs of economic recovery.
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OpinionLehman’s ghost laid to rest?
Tuesday was the anniversary of Lehman’s collapse, which a year ago sent retail sales plunging within hours of its demise.
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NewsKingfisher preview sparks upgrades
Kingfisher was scheduled to issue its interims as Retail Week went to press, but the headline numbers were already known following last week’s administrative slip-up.
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NewsLakeland profits tumble in tough market
Lakeland, the kitchen and homewares specialist, famous for its innovative gadgets, suffered a profits fall last year as the shock of Lehman Brothers’ demise holed consumer sentiment.
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NewsFrench Connection posts loss
French Connection has revealed interim losses which forced it to close its Northern European retail division and make staff cuts to bolster profitability.
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NewsKingfisher profits climb
B&Q owner Kingfisher reported that measures to improve its UK and Ireland business were paying off after it reported a 35% rise in half-year profits.
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NewsNext raises annual earnings forecast
Fashion retailer Next has raised its annual earnings forecast after delivering a 6.9% rise in first-half pre-tax profit to £185.5m.
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NewsBest Buy profits slide in second quarter
US electricals giant Best Buy, which will open its first big-box stores in the UK next spring, has posted a 22% fall in profits for its second quarter.
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NewsDebenhams on track to hit profits despite sales fall
Debenhams has forecast a rise in annual profit despite store revamps impacting on the retailer’s sales.
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NewsDunelm sales recovery in the second half
Value homewares retailer Dunelm has reported pre-tax profit is up 6.8% to £52.5m in its full year results, helped by a strong sales recovery in the second half.
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NewsLosses widen for Adili
Losses for ethical etailer Adili, now trading as Ascensiononline.com, have widened to £1.9m in the year to April 30 from £1.58m the year before.
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NewsNew chair for Robert Dyas as debt deal nears
Hardware retailer Robert Dyas has lined up former Kingfisher director Geoff Brady as chairman and is concluding a debt-for-equity swap as it refocuses on trading following financial restructuring.
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NewsJewellery chain F Hinds suffers from Christmas trading hangover
Family-run jewellery chain F Hinds reported turnover in its last financial year was down 4% to £50.8m as it suffered from poor Christmas trading.