Latest finance news – Page 545
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NewsTheo Fennell issues profit warning
Jeweller Theo Fennell has become the latest retailer to issue a profits warning as snow hit its Christmas sales.
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NewsGap like-for-likes dip over Christmas
Gap international like-for-likes, which includes the UK, were down 4% in the key Christmas trading period in the five weeks to January 1.
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NewsBestseller increases its stake in Asos
Danish fashion group and investor Bestseller has increased its stake in fashion etailer Asos.
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NewsSnow hits Next's Christmas sales but profits will meet expectations
Fashion retailer Next revealed it lost £22m in full-price sales because of snow in the run-up to Christmas but it remains on track to increase profits by between 7% and 10% this year.
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NewsHMV to shut 60 stores as it issues profit warning
HMV has outlined plans to shut 60 of its HMV and Waterstone’s stores in the next 12 months as sales have continued to fall over the Christmas trading period and the retailer warned on profits.
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NewsBlacks reports strong December sales
Blacks Leisure performed “very strongly” in December with like-for-like sales in its outdoor business up 10.2% for the month.
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NewsJJB to ask shareholders for further £50m
Troubled sports chain JJB Sports is expected to ask investors for a further £50m following the £31.5m promised before Christmas, according to reports over the weekend.
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NewsAsda reports "good" Christmas performance
Asda has reported a “good performance” in the run-up to Christmas, despite Arctic weather conditions.
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NewsITV man to be HMV FD
HMV Group has appointed David Wolffe, the finance director of ITV Studios, as its new finance director
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NewsBill Gates rides to JJB Sports' rescue as Clare stands down
JJB Sports has this morning disclosed details of a £31.5m cash call, boardroom changes and a further sales slump.
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NewsJJB Sports to launch £30m fundraising
Sports specialist JJB Sports is to stage a £30m fundraising and make boardroom changes, it is understood.
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NewsTesco buys 128 stores in Czech Republic for £34.3m
Tesco has acquired 128 convenience stores in the Czech Republic for 1.02bn koruna (£34.3m), bolstering its operations in central Europe.
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NewsDFS reports first quarter earnings flat at £15.2m
DFS, the specialist sofas retailer owned by private equity firm Advent, has posted flat earnings in its first quarter.
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NewsSale of Phones4U falls through
Private equity group Providence has pulled the sale of mobiles specialist Phones4U after turbulent debt markets undermined a deal.
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NewsSnow fears unjustified, broker Arden argues
Concerns about the impact of snow on retailers’ Christmas performance look overdone, Arden analyst Nick Bubb believes.
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NewsKidswear etailer AlexandAlexa to expand overseas after £1.5m investment
Venture capital firm MMC Ventures has invested £1.5m in luxury childrenswear etailer AlexandAlexa which will be used to drive international expansion.
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NewsDixons, Home Retail and HMV among most at risk from snow disruption
Electricals group Dixons, Argos-owner Home Retail Group and entertainment specialist HMV are among the retailers most likely to be affected by snow and icy conditions broker Numis believes.
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NewsAlexon warns on profits after snow takes toll
Womenswear group Alexon, owner of chains including Ann Harvey and Kaliko, revealed profits will fail to meet expectations after Arctic weather disrupted peak trading.
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NewsReiss' recession initiatives boost EBITDA
Reiss said its sub-brand launch 1971 Reiss and its revamped website helped UK EBITDA to rise 7% to £9.1m for the year to January 31 2010.
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NewsBurberry's Angela Ahrendts awarded £5.6m in shares
Angela Ahrendts, chief executive of luxury British retailer and brand Burberry, has been awarded £5.6m of bonus shares.