Latest finance news – Page 470
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NewsJessops bought out of administration by Dragons' Den star Peter Jones
Collapsed camera specialist retailer Jessops has been bought out of administration by entrepreneur and Dragons’ Den star Peter Jones.
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NewsTheo Paphitis backs campaign to freeze business rates
Retail entrepreneur and star of Dragons’ Den Theo Paphitis is backing the Retail Week and British Retail Consortium (BRC) campaign urging the Government to freeze business rates.
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Apple loses market value after weak Christmas
Apple lost more than $50bn (£31.8bn) of its market value last week after shares slumped 12% because of weaker-than-expected iPhone sales at Christmas, reinforcing fears that the retailer and technology giant is losing its dominance in smartphones.Apple posted first-quarter group revenue of $54.5bn (£34.66bn), compared with $46.3bn (£29.44bn) in the ...
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NewsOak Furniture Land reports record sales and profits
Oak Furniture Land has reported a record year as profits shot up from £3.9m to £9.2m while sales more than doubled last year.
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NewsMothercare Australia placed into administration as trading deteriorates
Mothercare Australia has been placed into administration after trading conditions in the country deteriorated and talks to find a buyer for the business failed.
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NewsThe Hut Group lines up deal to take over footwear etailer Cloggs
Online retailer The Hut Group is in “advanced talks” over acquiring branded footwear etailer Cloggs to boost its presence in the online footwear market, it is understood.
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NewsThe Hut Group buys cycling accessories etailer Probikekit.com
The Hut Group, which is set to launch an IPO this year, has snapped up online cycling accessories business Probikekit.com from private equity firm Encore Capital for an undisclosed sum.
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NewsCarpetright UK like-for-likes edge up 3.2% but Dutch sales remain weak
Carpetright UK like-for-likes edged up 3.2% in its third quarter to January 26 but plunged 11.5% in the rest of Europe as sales at its Dutch business remained weak.
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NewsRBS chief defends two-year support for HMV before its collapse
Royal Bank of Scotland boss Derek Sach has defended the bank’s strategy to lend support to HMV, keeping it out of bankruptcy for two years, before it collapsed this month.
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NewsFormer Baugur boss Johannesson plans UK comeback
Former Baugur boss Jon Asgeir Johannesson hopes to make a UK comeback and is interested in buying into small companies.
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NewsBeales in talks to renegotiate debts amid tough trading conditions
Department store group Beales is in talks to renegotiate its debt as it battles difficult high street trading conditions.
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Metro reports net sales rise
Metro reported a 1.2% rise in net sales to e66.7bn (£56bn) for the full year to December 31, 2012. Adjusted for the disposals of Makro UK and Saturn France, sales rose by 2.3%. EBIT fell to e2bn (£1.68bn) from e2.4bn (£2.01bn) in 2011.Sales at Metro Cash & Carry rose by ...
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NewsHalf of retailers expect to shed jobs ahead of retail rates hit
Retailers are to axe staff as cost pressures including business rates eat into their profits according to the British Retail Consortium-Bond Pearce Retail Employment Monitor.
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NewsFortnum & Mason records profit slump after IT investment
Upmarket food department store Fortnum & Mason has reported a fall in annual profits as it was hit by IT problems in the run up to Christmas 2011.
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NewsFindel Group posts 10.2% sales increase in third quarter
Home shopping specialist Findel has posted a 10.2% increase in third quarter sales while group revenues are up 8.9% year on year in the calendar year to date.
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NewsWHSmith like-for-likes drop 5% but it delivers 'good profit'
WHSmith like-for-like sales dropped 5% for the 20 weeks to January 20, but the book and stationery retailer said it delivered a “good profit performance” during the period.
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Rakuten's Canadian Kobo ereader subsidiary exceeds market forecasts
Rakuten’s Canadian Kobo ereader subsidiary said it exceeded market forecasts during the second half of 2012.It sold more than 4 million devices during the six-month period, bringing its total number of registered users to 12 million.The company said ereader sales jumped by almost 150% in December, driven by market entries ...
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Casino reports sales growth
Casino has reported sales growth of 22.1% to e41.97bn (£35.25bn) in 2012, corresponding to a 4% organic rise (at constant consolidation and exchange rates).Fourth-quarter sales rose 3.2% to e12.9bn (£10.83bn). There was with an 8.5% rise for Casino’s international operations in Brazil, South America and Asia, compensating for a 2.2% ...
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Ahold records net sales increase
Ahold recorded an 8.5% increase in net sales to E32.8bn (£27.51bn) for its full year 2012. At constant exchange rates, sales were up 3.5%.In the fourth quarter, net sales rose 7.5% to E7.8bn (£6.54bn), and US sales advanced 4.3% to $6.1bn (£3.84bn). Sales in the company’s domestic market climbed 7.7% ...
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NewsVince Cable rejects calls for Government to support retail
Business secretary Vince Cable has dismissed criticism levelled at the Government in the past week that more needs to be done to help support the retail sector following a series of collapses.