Latest finance news – Page 428
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NewsTV channel Sit-Up falls into administration despite passing CVA last month
TV shopping channel Sit-Up, which operates Price Drop and Bid TV, has collapsed into administration just a month after it secured a CVA.
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NewsThe Co-op to quit 60% of Somerfield stores as it bids to rebuild reputation
The Co-operative Group is to exit 60% of the Somerfield stores it acquired just five years ago as it seeks to refocus and rebuild its reputation
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NewsCo-op reports 'disastrous' year as losses balloon to £2.5bn
Crisis-hit Co-operative Group has reported a group comprehensive loss of £2.5bn after a “disastrous” year.
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NewsMulberry issues another profit warning and cautions on future earnings
Luxury brand Mulberry has issued another profit warning after incurring charges on stores and the departure of its chief executive.
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NewsTesco boss Philip Clarke: 'I’m going to see this thing through'
Tesco chief executive Philip Clarke said he is determined to see through the turnaround of Tesco and vowed the grocer will emerge as a leader once again.
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NewsBurberry like-for-likes up 12% but warns exchange rates will hit profits
Burberry retail like-for-likes jumped 12% in its second half but the retailer sounded caution over the impact of exchange rates on profits.
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NewsBreakfast briefing: Retail news on Tesco and Burberry
Retail news round-up on April 16, 2014: Tesco profits fall as trading environment ‘changes more rapidly than ever before’ and Burberry second half sales rise.
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NewsVideo: Tesco chief executive Philip Clarke on the grocer's full-year profits fall
Tesco reported a fall in full-year profits today. Here, chief executive Philip Clarke talks about the results.
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NewsTesco profits fall as trading environment changes 'more rapidly than ever'
Tesco’s group trading profit plunged 6% to £3.3bn last year and boss Philip Clarke warned that the trading environment is changing rapidly.
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NewsAlbemarle & Bond rescued out of administration
Pawnbroker Albemarle & Bond has been bought out of administration by an international investor group led by private equity firm Promethean Investments.
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NewsInflation drops below 2% target for third consecutive month
Inflation fell to 1.6% in March, down from 1.7% in February and the third consecutive month it has been below the Bank of England’s 2% target.
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NewsDebenhams revises promotional strategy as profits tumble
Debenhams is revising its promotional strategy as first-half profits plunged owing to excessive discounting and weakness in its multichannel offer.
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NewsJD Sports full-year profits soar 27.3% driven by growth in core fascias
JD Sports full-year profit before tax and exceptional items surged 27.3% to £77m powered by growth at the retailer’s core JD fascia.
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NewsFrench Connection like-for-likes up 11% as turnaround gains traction
French Connection UK and Europe like-for-like sales jumped 11% in the fashion retailer’s first half.
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NewsHouse of Fraser confirms £480m acquisition by China's Sanpower Group
House of Fraser has confirmed it has been acquired by Chinese conglomerate Sanpower Group in a deal valuing it at £480m.
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NewsTesco investors line up potential successors to boss Philip Clarke
Tesco investors have lined up potential successors to boss Philip Clarke, naming Monsoon Accessorize boss John Browett as one possibility.
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NewsGovernment launches review of the business rates system
The Government has launched its consultation into the administration of the business rates system, urging retailers to air their views on the burdensome property tax.
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NewsBonmarché sales driven by product and customer service improvements
Bonmarché recorded a strong sales uplift, despite the wet weather at the beginning of the year, as a result of improvements across product and customer service.
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NewsNext chief executive Lord Wolfson takes home £4.65m
Next chief executive Lord Wolfson took home £4.65m including a £3.6m bonus in the fashion retailer’s last financial year.
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NewsKurt Geiger eyes UK growth as it completes management buyout
Kurt Geiger is targeting UK growth after completing a management buyout and splitting from its owner The Jones Group.