All City & finance articles – Page 547
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NewsShareholder discontent hinders Marks & Spencer
The next few weeks are likely to bring share price turbulence for Marks & Spencer. Shares were trading at 293.75p earlier this week – well above the 52-week low of 191.9p but down from a 363p high.
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OpinionWho is the right face for Marks & Spencer?
Whether Sir Stuart Rose stays on as Marks & Spencer’s executive chairman until 2011 or goes early, what matters is getting the successor right.
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NewsShock Kesa results top poor week for retail sector
Stores underperformed the market despite some impressive recent updates, and Anglo-French electricals group Kesa provided a reminder of how tough conditions remained with shocking results on Wednesday.
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NewsLuxury positioning protects sales and profits at Mulberry
Mulberry’s profits beat market expectations as its luxury positioning provided some cushioning against the economic downturn.
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NewsClinton Cards buys 196 Birthdays stores
Cards retailer Clinton Cards has confirmed the acquisition of 196 Birthdays stores from administrator Zolfo Cooper.
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NewsBack AGM resolution to split Sir Stuart Rose’s role, Pirc urges M&S shareholders
Influential shareholder adviser Pirc has added its voice to growing calls for Marks & Spencer to appoint an independent chairman next year.
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NewsMore boardroom unrest for M&S
Further boardroom tension has surfaced at Marks & Spencer over the timing of Sir Stuart Rose’s departure.
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NewsM&S chiefs waive share entitlements
Marks & Spencer executive chairman Sir Stuart Rose and executive director Steve Sharp are to waive share entitlements in the interests of “good shareholder relations”.
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NewsB&M Bargains sets sights on 400 stores as profits soar in downturn
Value retailer B&M Bargains has unveiled a sparkling set of full-year results and vowed to increase its store numbers to 400 across the UK.
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NewsRay Kelvin upbeat as Ted Baker sales surprise
Ted Baker chief executive and founder Ray Kelvin remains confident that shoppers are still spending despite being in the middle of a deep recession.
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OpinionDSGi begins to show spark
Electricals rivals Kesa and DSGi both post full-year results next week. There hasn’t been much spark in either lately. But as Best Buy limbers up to take on the European incumbents next year, there are signs that the pair are getting into shape.
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NewsSainsbury’s and Tesco updates cause a stir
Big grocers took the spotlight this week as Sainsbury’s and Tesco issued first-quarter updates. And what the pair had to say has implications for the entire retail sector.
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NewsChristmas savings specialist Park Group steady
Festive orders at Christmas savings specialist Park Group are “close to the level of a year ago”, according to the group.
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NewsSteady Game trading gets mixed reaction from City
Computer entertainment group Game reassured that trading has remained “in line with expectations” in recent months but did not disclose exact numbers.
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NewsHomebase scores for Home Retail Group
Recent sunny weather has helped DIY chain Homebase, which notched up a like-for-like sales increase of 3.8 per cent in the 13 weeks to May 30.
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NewsDeals struck on 210 Birthdays stores but 800 jobs to go
Birthdays’ administrator Zolfo Cooper has accepted two offers for a total of 210 stores. The deals safeguard 1350 jobs but 800 will go as the remaining 132 shops will shut.
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NewsTesco bond sale raises £430m
Grocery group Tesco has raised £430m through the sale of commercial mortgage-backed securities (CMBS).
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NewsOcado could float in 2010
Online grocery retailer Ocado could bag an estimated £600m next year if a float that is being considered were to go ahead, according to The Times.
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NewsSainsbury’s raises £445m to fund growth
Sainsbury’s is to raise £445m to fund an accelerated growth drive and deliver an extra 2.5 million sq ft of trading space by March 2011.
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NewsKesa to sell Swiss business
Kesa has entered exclusive talks with Swiss electricals retailer FUST to sell its Swiss operation for CHF20m (£11.4m).