All City & finance articles – Page 537
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NewsRetail stock interest expected to continue
Stores rebounded after the recent bout of profit taking and outperformed the market, but food retail stocks remained mired ahead of results from Tesco and Sainsbury’s.
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NewsFindel focuses on costs as sales fall
Home shopping group Findel, which successfully raised £81m over the summer through a share placing and open offer, has posted a 5% fall in group like-for-like sales.
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NewsWeak releases dampen Game profits but outlook is positive
Computer entertainment group Game posted a slump in first-half profits, but the plunge was in line with expectations.
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Retail suffers as gloom outweighs IPO hopes
General retail stocks headed south and underperformed the market, despite rising speculation that a raft of IPOs - including a £1.7bn flotation of fast fashion group New Look - looks likely in the new year.
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OpinionMind your own shop
There seems to be a general consensus now that while 2009 may have been slightly better than many retailers expected, 2010 might be a little more challenging.
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NewsIdeal Shopping Direct losses flat in first half
Ideal Shopping Direct, the home shopping group, reported a pre-tax loss for the half-year but said a strategic review had helped stabilise the business and move it closer to profitability.
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NewsCBI: UK economy to emerge from recession in Q3
The UK economy is expected to emerge from recession through modest growth in the third and fourth quarters of this year, but constraints on demand will mean that growth in 2010 is fragile, according the CBI.
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NewsTopps Tiles confirms profit outlook and sees signs of stability
Specialist retailer Topps Tiles expects to report operating profit of between £10.5m and £14m – the range of analysts’ expectations – when it delivers full year results in November.
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NewsGame profits suffer against last year's record performance
Entertainment retailer Game has posted a 67% fall in first half profits but said trading had returned to more “normal” levels after last year’s record-breaking software launches.
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NewsBlacks Leisure warns covenant breach likely
Blacks Leisure has warned that it is likely to breach a banking covenant following difficult trading at its boardwear division and has struck a standstill agreement with its bank.
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NewsShop Direct Group sales up 7.4%
Shop Direct Group reported group sales up 7.4% to £1.7bn for its financial year ending April 30, but is taking a cautious view of consumer debt in the year ahead.
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NewsFindel concentrates on further reducing debt
Home shopping group Findel has reported like-for-like sales down 5% for the first 23 weeks of its financial year as it continues to focus on cash generation to further reduce net debt.
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NewsSpar benefits as recession-hit consumers stay in
Spar’s like-for-likes increased 5.2% in the three months to July as consumers stay in more and indulge in treats.
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NewsRepublic guns to break £200m sales barrier
Branded young-fashion retailer Republic wants to increase sales by a third this year to push past the £200m barrier.
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NewsDunelm to double openings in 2010 but remains cautious
Dunelm chief executive Will Adderley said the value homewares retailer intends to double store openings over the next year compared with last.
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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.