Latest finance news – Page 540
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NewsOcado makes first quarterly profit as it bids to grow range
Online grocer Ocado has promised to focus on value, range and quality after it reported its first pre-tax profit of £300,000 in its fourth quarter.
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NewsTakeover talks reflect tough week for stores
Plunging consumer confidence, signs of slowing trading at bellwether department store group John Lewis and a Carpetright profit warning meant general retailers were left on the shelf by investors.
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NewsCarpetright cautions prices will rise in 2011
Floorings giant Carpetright is to hike up its prices by about 8% this year as it seeks to mitigate soaring costs including freight and petrol.
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NewsJD says chains will stay separate if talks with JJB are successful
JD Sports Fashion executive chairman Peter Cowgill has said that he plans to continue to run JJB Sports as a separate chain if he buys the business, and believes the JD management team can offer expertise to the struggling retailer.
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NewsRestructing firm buys HPJ Jewellers out of administration
Two newly formed companies backed by restructuring firm Gordon Brothers has bought HPJ Jewellers out of pre-pack administration.
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NewsCarpetright warns on profits as sales plunge
Carpetright has warned on profits as sales plunged in the UK and Ireland.
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NewsOcado records pre-tax profit in Q4 and reduces full year losses
Ocado has made a pre-tax profit in the fourth quarter of £300,000 and reduced pre-tax losses for the year by 52%.
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NewsHamleys up for sale
Frozen food chain Iceland also up for sale as Landsbanki sells off assets as part of winding up process
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NewsDouble-dip fears hit general retail stocks
Retail stocks were hit as the economy went into reverse, renewing fears of a double-dip recession, and Bank of England governor Mervyn King warned of plunging living standards.
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NewsPrimark records a 12% Christmas sales increase
Value fashion giant Primark shrugged off the effect of the snow before Christmas to record a 12% increase in sales, but warned that EBITDA margins will fall during the second half.
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NewsMulberry celebrates rocketing festive sales
Sales at luxury brand and retailer Mulberry soared over the festive period, showing consumer appetite for ‘It Bags’ is yet to be sated.
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NewsWHSmith sales slip over key period but margin improves
Bookseller and stationer WHSmith pleased analysts with improved margin despite a worse-than-expected sales decline during the peak period.
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NewsSnow takes edge off M and M’s Christmas
Sales at home shopping group M and M Direct jumped 15% in the six weeks to January 2, despite the loss of £2.5m of sales due to snow.
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NewsHomestyle profits drop 19% but Reid acquisition boosts turnover
Homestyle, the furniture retailer that operates chains including Harveys and Bensons for Beds, has revealed a 19% fall in profits in the year to June 26, while turnover increased.
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NewsDirectors leave Comet in the wake of dire trading update
Two Comet directors are to exit the business and redundancy consultations have begun with other head office staff as the electricals specialist battles to recover after disastrous Christmas trading.
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NewsBeales narrows losses by a third
Beales, the independent department store chain, has reduced its full year losses for the third year running.
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NewsWH Smith AGM blow
WH Smith suffered a blow at its AGM yesterday when nearly a third of its shareholders who voted refused to back the remuneration report.
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NewsAlexon warns on profits despite sales improvement
Womenswear group Alexon, which includes the Ann Harvey and Kaliko chains, reported group like-for-like sales up by 13.3% in the five weeks to January 22 but issued a second profit warning after gross margins were eroded.
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NewsWH Smith like-for-likes fall 5%
WH Smith group like-for-likes dropped 5% in the 21 weeks to January 22.
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NewsStaffing changes hit Games Workshop
Staff cuts hit first-half sales and profits at wargames specialist Games Workshop and the retailer is now determined to improve customer service.