All City & finance articles – Page 535
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NewsFlight to value brings Wilkinson record sales
Value retailer Wilkinson has recorded its highest ever annual sales of £1.45bn, as it capitalises on shoppers’ continued flight to value in the recession.
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NewsProposals to tackle illegal downloaders divide retailers
Retailers are divided over Government proposals to switch off internet connections of illegal file sharers.
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NewsMarket wobbles but positive signs abound
The market was hit by a bout of nerves following the recent bull run and the FTSE 100 suffered its biggest loss of value in two months. General retailers performed slightly below the market but food groups, which have frequently been out of favour lately, remained almost flat.
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NewsRatings agency marks Marks & Spencer a ‘low credit risk’
Ratings agency Fitch has affirmed its BBB rating and “negative” outlook on Marks & Spencer.
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NewsThe Entertainer profits slide but Woolworths closures aid recovery
The Entertainer suffered a fall in pre-tax profits from £674,643 to £38,722 in the year to January 31, but the toy chain said it is on course to post record profits in its current financial year as sales soar.
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NewsClubcard will allay Tesco doubts, says broker
Broker ING has upgraded Tesco ahead of next month’s interim results, despite concern among some analysts that the grocer is suffering at the hands of resurgent rivals.
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NewsAnalysts welcome Majestic Wine changes
Majestic Wine revealed on Monday that it was reducing its minimum order size to six bottles after a trial in selected stores over the past year.
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NewsDSGi’s John Browett signals lift in consumer mood
DSGi chief executive John Browett has voiced optimism that the consumer economy is improving after shoppers proved willing to trade up in recent months.
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NewsMamas & Papas sales lift bucks downturn
Nursery and maternity specialist Mamas & Papas has defied the gloom to post a 28% uplift in total sales in its growing maternity range since the start of its financial year on February 1.
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OpinionA good write-up
There’s been plenty of writing down of retail assets over the past year or two, but precious little writing up.
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NewsNew Look valuation prompts hopes for a market revival
Valuations of prominent private equity-backed retailers are rising on the back of earnings momentum and investor appetite for quoted retailers.
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NewsRejected Nisa-Today’s suitor to rally support
Distribution group Bibby Line was expected to make moves to overturn convenience store buying group Nisa Today’s decision to reject its takeover bid last week, as Retail Week went to press.
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AnalysisWill retail rise to round two of VAT war?
A VAT increase is looking like an inevitability. George MacDonald asks what promotional feats retailers will need to pull off to counter the blow to consumer confidence in the January Sales season
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NewsGap international sales fall 12% in August
Like-for-like sales at Gap’s international division, which includes its UK stores, fall by 12% in August.
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NewsMore retailers expected to go bust in 2010
The number of retail businesses going bust is set to continue next year as rising unemployment is expected to continue to impact consumer spending.
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NewsHamleys losses soar but sales revival under way
Toy retailer Hamleys’ net losses leapt last year to £7.1m from £2.7m as interest rate charges and restructuring costs ate into the bottom line.
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NewsAnalysts cautious on Home Retail
There was a bearish view of Home Retail Group ahead of its second-quarter update, due on September 10.
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NewsFashion-driven online lift enhances Asos forecasts
Fashion was one of the drivers of online sales in July, bolstering confidence in clothing online specialists such as Asos.
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NewsRetail stocks lifted as FTSE bounces back
The FTSE 100 closed at a 10-month high on Tuesday. Food and general retailers alike were both up over the week although neither matched the All-Share rise.
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OpinionThe billion Dollar question
At last, a retail IPO. Dollar General’s flotation is happening in the States not the UK, but success would be a sign that markets may be fully opening again and that stores can win investor backing.