Latest finance news – Page 316
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NewsTesco profits fall but sales up as turnaround plans bear fruit
Tesco’s half-year sales have risen but pre-tax profits fell, while chief executive Dave Lewis unveiled plans to rebuild margins to 4%.
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NewsForecourt retail giants merge and name ex-Asda boss DeNunzio chairman
Forecourts operator Euro Garages is to merge with continental counterpart EFR and has drafted in former Asda boss Tony DeNunzio as chairman.
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NewsScS back in the black as profits spurred by strong sales
ScS has reported a return to profit as the retailer eyes further bricks-and-mortar expansion and sales at its House of Fraser concessions increase.
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NewsLiam Gallagher’s Pretty Green reports soaring profits and sales
Menswear retailer Pretty Green’s full-year sales and profits rocketed in the year to September 30, 2015 and trading in 2016 has also been positive.
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NewsWoolworths mulls selling petrol station chain as it refocuses on grocery
Australian grocer Woolworths is considering selling its petrol station forecourt business in a move that could net it A$1.5bn (£890m).
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NewsCath Kidston sold to private equity group Baring Asia as chairman steps down
Lifestyle retailer Cath Kidston has been sold to private equity firm Baring Asia, and Asian expansion is at the top of the agenda.
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NewsThe Cotswold Company acquired by private equity firm True Capital
Private equity firm True Capital has acquired a majority stake in pure-play furniture retailer The Cotswold Company.
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NewsTheo Paphitis’s Ryman acquires specialist London Graphic Centre
Retail entrepreneur Theo Paphitis’s Ryman stationery business has bought art and design materials specialist London Graphic Centre.
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NewsWiggle sales rise but profits punctured by currency headwinds
Sports etailer Wiggle has reported rising sales in its last full-year but profits were hit as it was affected by currency movements.
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NewsLakeland cooks up sales growth but pre-tax profits slump
Lakeland has posted a 40% decline in full-year pre-tax profits as the cost of expanding its warehouse in Cumbria offset growing sales.
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NewsJack Wills sold to Liberty owner BlueGem as full-year profits tumble
Jack Wills founder Peter Williams has joined forces with Liberty department store owner BlueGem to acquire the fashion chain.
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NewsTesco faces £150m claim from shareholders after accounting scandal
Tesco is facing legal action from a group of 60 shareholders who claim to have lost £150m following the grocer’s accounting scandal.
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NewsBreakfast briefing: Retail news on Tesco, Jack Wills, Lakeland and more
Retail news round-up: Tesco faces £150m claim from investors, Lakeland profits dip and Dominic Chappell under SFO probe
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NewsLondon retailers dismayed as business rates revaluation sends costs soaring
Retailers in central London face “a hammering” financially as a result of the revaluation of business rates revealed on Friday.
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NewsBrexit not deterring shoppers but household finances under pressure
The outcome of June’s referendum to leave the EU and the weakened pound has not yet had an impact on shopping behaviour, according to figures.
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NewsH&M third-quarter profits hit by discounting and higher sourcing costs
H&M said its third-quarter profits were dented by increased discounting and higher purchasing costs triggered by a strong US dollar.
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NewsHMV posts pre-tax loss as physical music and film sales slump
HMV has posted a full-year pre-tax loss of £8.8m after sales of physical CDs, films and games continued their decline.
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NewsAgenda: Tesco, DFS, ScS and Dunelm post financial updates
Retail Week looks ahead to the next seven days in the industry with updates from Tesco, ScS, DFS and Dunelm all on the agenda.
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NewsConsumer confidence up in September as shoppers 'shrug off Brexit fears'
Consumer confidence rose across all measures in September for the second consecutive month, ranking the highest overall score since June.
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NewsBreakfast briefing: Retail news on John Lewis, consumer confidence and more
Retail news round-up: Andy Street to quit John Lewis to fight mayoral contest, consumer morale rises in September and HMV's sales down