Latest finance news – Page 547
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NewsPPR scotches Burberry takeover talk
French luxury goods group PPR, the business behind brands including Gucci, Stella McCartney and Alexander McQueen, has quashed speculation that it intends to acquire British luxury retailer and brand Burberry.
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NewsPhones4U deal likely to be valued below £700m
Private equity firm BC Partners is likely to pay less than the £700m anticipated for Phones4U by present owner Providence Equity Partners.
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NewsRetail gets the thumbs up as it outperforms
Investors filled their shopping trolleys with general retail and food stocks alike. The former outperformed the market despite lacklustre BRC sales data for November but are still down year on year.
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NewsN Brown’s US debut shows potential
N Brown’s entry into the US market could add 15% to 30% to the top line in the medium term, broker Panmure Gordon wrote after a meeting with management.
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NewsDebenhams and Tesco top JP Morgan’s 2011 picks
Department store group Debenhams and leading grocer Tesco feature on broker JP Morgan Cazenove’s list of top stock picks for 2011, while fashion giant Next and supermarket group Sainsbury’s should be avoided.
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NewsKingfisher profits rise despite tough trading
Kingfisher’s third-quarter performance was well received by analysts despite a drop off at B&Q.
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NewsTesco set for strong Christmas after better-than-expected sales
Tesco reported that consumer sentiment is improving as it posted better-than-expected UK like-for-likes.
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NewsLombok turnaround puts it back into black
Furniture chain Lombok has bounced back into the black, after instigating a turnaround plan that saw it slash costs and shut stores.
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NewsActivist investor won’t lead to Kesa break-up, chairman vows
Kesa chairman David Newlands has downplayed the suggestion that stakebulding by investor Knight Vinke indicates sweeping change is likely at the electricals group.
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NewsTesco’s share growing but Morrisons falters
Tesco is back in the driving seat with aggressive promotions leading to a market share gain for the first time since May, while rival Morrisons’ share has slipped for the first time since 2007.
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NewsRetailers ramp up promotions as weather hammers trade
Eye-catching promotions used earlier than planned as sales badly affected by snowy conditions
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NewsMoss Bros confident as like-for-likes rise
Like-for-like sales at menswear group Moss Bros rose by 8.3% in the 18 weeks to December 4.
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NewsMulberry interim profits soar
Luxury brand and retailer Mulberry has posted a 207% surge in first-half pre-tax profits to £4.7m on sales up 38% and full year earnings are expected to beat market expectations.
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NewsMothercare doubles international sales target to £1bn by 2014
Maternity specialist Mothercare has revealed ambitious new international targets as it shows off its Indian business to investors.
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NewsComet suffers widening losses
Losses at electrical chain Comet widened in its first half when toughening trading conditions and spending on store refits and rebranding took a toll.
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NewsGame cautious as like-for-likes drop
Game UK & Ireland like-for-likes slumped 12.2% while total sales dropped 14.7% in the 44 weeks to December 4.
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NewsPhones 4U to double shop-in-shops in Dixons next year
Phones 4U will double its shop-in-shops in Dixons next year.
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NewsDolphin owner eyes Bathstore
Dolphin Bathrooms owner Sun European Partners has held early discussions with Bathstore over a potential acquisition of the business.
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NewsTesco reports improving UK sales as international remains strong
Tesco has reported improving sales in the UK in its third quarter, while its international markets delivered a “strong performance”.
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NewsFalling confidence hits Alexon
Womenswear group Alexon reported weaker-than-expected interims with house broker Investec cutting its full-year forecast.