All City & finance articles – Page 538
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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.
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NewsHMV to open temporary stores for Christmas
Entertainment group HMV is to open up to 15 temporary shops over Christmas, including one in Bluewater, to capitalise on the disappearance of rivals Woolworths and Zavvi.
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NewsTheo Fennell confident of turnaround
The new management of luxury jeweller retailer Theo Fennell are confident they can take the retailer “back to basics” after suffering a loss of £3.3m.
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NewsPrimark posts good sales despite mixed weather
Primark has continued to deliver strong sales, the value fashion powerhouse’s parent Associated British Foods revealed in its pre-close statement ahead of November’s interims.
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NewsStrong UK trading drives Kingfisher’s first-half profits
B&Q parent Kingfisher revealed better than expected pre-tax profit figures this week for the six months to August 1, driven by a strong performance in the UK.