Latest finance news – Page 518
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NewsFloors 2 Go collapses into administration
Specialist retailer Floors 2 Go has been put into administration and part of the business has been bought by a new company.
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NewsCo-op profits and sales hit by tough climate
The Co-operative Group has suffered a fall in first-half profits and sales in retail conditions described by chief executive Peter Marks as “the worst I have seen in over 40 years”.
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NewsTopps warns on profits as shattered consumer confidence takes toll
Topps Tiles has issued a profit warning after a steep trading downturn in recent weeks.
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NewsStrong value proposition drives full-year profit at Fragrance Shop
The Fragrance Shop has reported that operating profit rose by 37.8% in its full year, driven by its strong value proposition.
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NewsGarden Centre Group buys Country Homes and Gardens
Garden Centre Group has bought 12-store counterpart Country Homes and Gardens for an undisclosed sum.
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NewsWHSmith full year to be in line with expectations
WHSmith said that it expects full year figures to be in line with market expectations.
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NewsNo pay rise for SuperGroup's Dunkerton
Directors of fashion retailer SuperGroup, including founder Julian Dunkerton, will not take a pay rise this year
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NewsRetail bearing up but grocery volumes weak
Although retailers bore the brunt of last week’s riots, the sector kept its head above water despite lagging the All-share index.
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NewsSports retailers’ reputations intact despite ‘looter effect’
Sports retailers, including JD Sports, will not be damaged by their association with ‘looter fashion’, Oriel analysts are confident.
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NewsOcado’s lack of update raises City eyebrows
Broker Panmure has questioned why Ocado has not updated the City after the online grocer’s joint broker Goldman Sachs slashed its operating profit forecasts for the next three years.
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NewsGame multichannel deal pleases the sceptical City
A further push by Game into multichannel retail was welcomed by analysts, but the City wants to see the games specialist to “dramatically” reduce its store numbers.
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NewsFrench Connection stands confident
French Connection struck a confident note in an update last week when it reported UK like-for-like growth, increased year-on-year demand for its winter wholesale collections and that first-half profit would meet expectations.
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NewsPoundworld’s credit insurance pulled despite 500% profit rise
Discount chain highlights continued performance and supplier support as Euler Hermes stops cover
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NewsLife & Style bought out of administration
Fashion and homewares chain Life & Style has been bought out of administration by Sue Townsend, former director of academic bookseller Blackwell.
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NewsOcado co-founder cuts stake in grocer
The co-founder of Ocado and his wife have sold some of its stake in the online grocer, despite shares trading at their lowest level since the group floated last July
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NewsCustomers recognise our quality is improving, says Asda’s Clarke
Asda chief executive Andy Clarke is confident that the grocer’s efforts on quality are being recognised by customers, despite the tough climate taking a toll on its growth.
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NewsWilkinson profits hit by rising costs, VAT hike and exchange rates
Wilkinson pre-tax profits fell from £65m to £61m in the year to January 28 as the value retailer was hit by rising commodity prices, the increase in VAT and fluctuating exchange rates.
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NewsMorrisons founder to pay £210,000 fine over share sales
Supermarket veteran Sir Ken Morrison is close to reaching a settlement with the FSA over non-disclosure of share sales.
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NewsOFT investigates e-Spares acquisition
The Office of Fair Trading (OFT) is to investigate the acquisition of online spare parts retailer e-Spares by Connect Distribution Services.