Latest finance news – Page 462
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News
Rewe Group to invest in small online companies
Rewe Group is to invest in small online companies to gain ground in ecommerce.“We want to establish sort of a business incubator for start-ups,” chief executive Alain Caparros told business title Wirtschafts Woche. He said that Rewe may have underestimated the dynamics of online operations.Rewe also wants to extend its ...
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NewsN Brown scales back catalogues as it benefits from online revolution
Home shopping group N Brown is scaling back catalogues as online sales soar.
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NewsAsos international boss Jon Kamaluddin to exit after nine years
Asos international director Jon Kamaluddin is to exit after nine years with the online retailer.
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NewsSports Direct profits soar due to 'resilient business model'
Sports Direct retail gross profit soared 22.7% to £104.8m in the nine weeks to March 31 as its business model proved resilient, according to chief executive Dave Forsey.
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NewsThorntons hits sweet spot as Easter sales climb in third quarter
Chocolatier Thorntons delivered a sales surge as shoppers gorged on Easter Eggs and celebratory confectionery. Profits will beat expectations.
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NewsCarpetright eyes beds market share after Dreams contraction
Carpetright has said it is ready for the “fight” in beds after market leader Dreams axed a third of its portfolio last month.
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NewsScotmid Co-operative profits fall despite sales increase
Scotmid Co-operative has reported a fall in full-year operating profits despite a strong second half performance.
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NewsCarpetright like-for-likes increase spurred by weather and refits
Carpetright has recorded a 5.6% rise in UK retail like-for-like sales in the fourth quarter as the cold weather and store refurbishment programme drew custom.
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NewsPrimark posts 7% rise in first-half like-for-likes as profits rise
Primark has reported a 7% rise in like-for-like sales in the first half while operating profits rose 55% to £238m from £154m in the same period last year.
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NewsDixons sells Swedish business Webhallen in Pixmania turnaround bid
Electricals specialist Dixons is to sell its Swedish business Webhallen to Norwegian firm Komplett AS as it streamlines its Pixmania operations.
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NewsCompany profile: Moss Bros
The suit retailer has pulled its socks up in recent years, and there is still plenty of growing room.
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News
German wholesale group Conway purchases Grupoil
German wholesale group Lekkerland-owned convenience chain Conway has taken over Spanish wholesaler Grupoil. The acquisition is in line with a strategy of strengthening Lekkerland’s traditional core business.The purchase will enable Lekkerland to further establish itself in the Spanish convenience sector.
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NewsVideo: Analysts debate Tesco’s US exit, UK store refresh and space race
Alex Lawson asks Panmure Gordon investment analyst Philip Dorgan and Verdict Research senior retail analyst Andrew Stevens whether Tesco is enacting the right strategy.
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NewsDIY group Kingfisher expands into Romania with 15-store acquisition
B&Q owner Kingfisher is to expand into Romania after acquiring 15 Bricostore shops from French retailer Group Bresson.
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NewsDebenhams blames snow for first-half profits fall
Department store group Debenhams’ pre-tax profits fell 5.4% to £120.3m in its half year as snowfall hampered sales in January.
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News
X5 Retail Group reports net sales increase
X5 Retail Group has reported sales of RUB126.3bn (£2.63bn) in its first quarter ended March 31, an increase of 8.1% year on year.The increase in net retail sales was driven by additional store space, price inflation, the positive performance of maturing stores added over the past two years and promotions. ...
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NewsAnn Summers eyes wholesale growth as it reports profits jump
Ann Summers is plotting wholesale growth after its tieup with Shop Direct helped to drive a profits rise in its last financial year.
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NewsTesco UK boss Chris Bush: I’ll rekindle shoppers’ love affair with Tesco
Tesco UK managing director Chris Bush has vowed to rekindle the British consumer’s affection for the grocer by making it the supermarket of choice rather than a default option.
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News
JD Sports Fashion: What the analysts say
JD Sports Fashion’s profits were hit by losses from outdoor retailer Blacks, which it acquired last year, however the City seems positive about its the long term prospects.
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NewsBurberry like-for-like sales up 7% driven by strong China performance
Burberry like-for-like sales were up 7% in the six months to March 31, driven by strong performances in China and Hong Kong.