Latest finance news – Page 469
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NewsRepublic collapses into administration as 150 head office staff axed
Fashion chain Republic has plunged into administration as 150 head office staff have been made redundant.
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NewsAlbemarle & Bond pre-tax profits plummet 33% in first half
Pawnbroker Albemarle & Bond’s pre-tax profits dropped 33% to £8.1m in its first half to December 31. However, retail sales jumped 16.7% to £10.5m, with profits up 32%.
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NewsFashion chain Republic poised to plunge into administration
Fashion retailer Republic is understood to be on the verge of administration, with administrator Ernst & Young waiting in the wings.
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NewsInflation grows 2.7% for fourth consecutive month
Inflation increased by 2.7% year-on-year in January for the fourth month in a row, the longest time which consumer price index growth has remained flat since records began in 1992.
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NewsCotswold Outdoor reports 14% increase in sales as it hits £100m mark
Cotswold Outdoor has reported a 14% increase in sales last year compared to 2011 and hit a milestone of £100m in turnover on Christmas Eve as shoppers purchased winter wares.
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NewsHomewares retailer Dunelm pre-tax profits soar 14.6% in first half
Homewares specialist Dunelm pre-tax profit soared 14.6% to £59.8m in its half year to December 29 as its store expansion continued with 10 superstores opened over the period.
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NewsBurberry finance director Stacey Cartwright quits after nine years
Burberry finance director Stacey Cartwright is to leave the luxury fashion retailer after nine years and takes a £4m share pay out with her.
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Revenue increase for LVMH’s Selective Retailing division
Revenue at LVMH’s Selective Retailing division, which includes beauty specialist Sephora, rose 22%, or 14% on a comparable basis, to e7.9bn (£6.8bn) in 2012. Profit from recurring operations increased 19% to e854m (£735.9m).The group said it continued to achieve “an excellent level of performance” and made market share gains across ...
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NewsCompany profile: Dunelm Mill
Value homewares retailer Dunelm Mill has carried strong momentum into 2013 after a blockbuster 2012, which echoed the Olympian efforts taking place in east London.
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NewsRetail growth to increase in next 10 years as more ‘considered consumer’ emerges
Retail sales are expected to grow at a faster rate over the next decade than the past 10 years as a “new era of buying” is ushered in by the rise of the ‘considered consumer’.
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NewsBusiness rates hike to put creation of 14,500 jobs at risk
The creation of up to 14,500 new retail jobs is under threat if the Government implements its planned 2.6% business rates hike in April, according to estimates.
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NewsLike-for-like sales rocket at fashion specialist SuperGroup
SuperGroup, owner of the Superdry brand, generated a retail like-for-like sales rise of 10.6% in its third quarter, as shoppers snapped up products such as jackets and knitwear.
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NewsBurberry appoints former BBC boss as chief operating officer
Burberry has appointed former boss of BBC Worldwide John Smith as its chief operating officer, in a new role for the luxury brand as it bolsters its multichannel capabilities.
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NewsOcado EBITDA climbs as it seeks to accelerate growth
Online grocer Ocado delivered a 23.9% surge in EBITDA to £34.5m last year as it generated double-digit sales growth after making improvements to its core offer.
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H&M reports sales increase
H&M’s sales including VAT for the full year 2012 rose 11% in local currencies.Net profit for the full year was up 7% to SEK16.87bn (£1.7bn) compared with SEK15.82bn (£1.59bn) in 2011.H&M opened 304 new stores worldwide in 2012 and will add 325 more this year, with the fastest rate of ...
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General merchandise retailer SOK reports net sales increase
General merchandise retailer SOK has reported net sales of e12bn (£10.34bn) for the 2012 financial year, up 5% compared with 2011. Supermarket sales rose 7.3% year on year, but sales in department stores and the automotive trade fell 3.3% and 8% respectively.Retail sales in Finland’s neighbouring countries totalled e466.3m (£401.8m), ...
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News'Midsummer murder' for retailers if Government pushes back rates revaluation
Retailers face a “midsummer murder” if the Government presses ahead with a postponement to business rates revaluation by two years.
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NewsBeales falls into the red as it refinances with asset-based deal
Beales has secured an asset-based refinancing with Burdale after it fell into the red as like-for-likes dropped 5.6% last year.
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NewsNightclub stake sale completes disposal of HMV Live business
HMV administrator Deloitte has sold the collapsed entertainment retailer’s share in its G-A-Y bars and Heaven nightclubs signalling the end of its live division.
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NewsUp to 100 HMV shops face closure as axe falls on store staff
Up to 100 HMV stores are set to close when their stock is sold, administrators will tell staff of the collapsed retailer this week, pulling the plug on 1,500 jobs.