Latest finance news – Page 551
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NewsAmerican Apparel reports further losses in third quarter
Struggling US fashion chain American Apparel like-for-likes dropped 16% over the third quarter to September 30.
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NewsRussian oligarch buys 3% stake in HMV
Russian tycoon Alexander Mamut has taken a stake in entertainment group HMV, it has emerged.
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NewsSupergroup Q2 sales surge 68.4%
Supergroup, the owner of trendy fashion brand Superdry, experienced a 68.4% surge in group total sales to £57.5m in the three months to October 31.
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NewsPrimark profits up 35%
Primark has reported an 18% increase in sales and like-for-likes up 6% for the year ending September 18.
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NewsTheo Fennell losses narrow in first half
Upmarket jeweller Theo Fennell narrowed its losses from £1m to £877,330 in the six months to September 30.
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NewsBolland plans clearout of brands as M&S profits rise
Marks & Spencer is to rationalise its clothing sub-brands and reduce the number of branded foods stocked as new chief executive Marc Bolland refocuses the business around the core M&S brand.
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NewsProfits up at Aurora
Womenswear group Aurora has reported EBITDA up by 36% to £17.8m in its first half.
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NewsAsos outlines global ambitions as profits leap
Online fashion retailer Asos has reported a surge in first-half profits and plans a range of initiatives to ensure continued growth.
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NewsApple director joins Kingfisher board
Kingfisher has appointed a boss of trendy technology firm Apple to its board in a non-executive capacity.
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NewsBest Buy UK posts £29m loss
Losses are rising at the fledgling Best Buy UK business but shoppers like the new arrival in the electricals sector, Carphone Warehouse revealed.
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NewsAlworths continues to grow after first year
Alworths, the variety store that sprung from the ashes of Woolworths, enjoyed a record week last week as it hits its first year anniversary today.
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NewsBullish outlook for retail despite jitters
General retailers were down over the week while their food counterparts were up - both underperformed a flattish market.
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NewsFSA fine won’t hit JJB’s forecasts
JJB Sports is to be fined £455,000 by the Financial Services Authority (FSA) for a breach of disclosure and transparency rules that occurred before its interim results in September 2008.
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NewsAsos launches French and German websites
Online fashion specialist Asos launched dedicated transactional websites serving France and Germany last week.
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NewsAnalyst warns on clothing margin pressures
Clothing margins are likely to come under pressure next year Investec fears and the broker has reappraised its stance on fashion groups as a result.
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NewsBlacks boss says bid interest shows turnaround has begun
Blacks chief executive Neil Gillis said the bid interest in the outdoor retailer was a sign that the turnaround plan was working.
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NewsNew stores aid TJ Hughes’s profit rise
Discount department store chain TJ Hughes posted a pre-tax profit hike of 22% to £6.8m for the year to January 30, compared with £5.3m the previous year, driven by store openings and growth in online sales.
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NewsBoots banks on its gift ranges to secure Christmas market share
Alliance Boots expects its “strong fun gifts” range to lift sales this Christmas and is confident of grabbing market share in the festive period.
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NewsCable backs retail sector as key to economic recovery
Business secretary Vince Cable outlined the importance of the retail sector this week, stating “retail is critical to the country’s recovery and something I greatly value”.
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NewsM&S on track to hit £500m online sales over Christmas
Shop Your Way initiative helps retailer to meet target three months ahead of year-end schedule