Latest finance news – Page 552
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NewsBreak-up merchants eye struggling DIY chain Focus
DIY chain’s owner appoints adviser as it considers options for troubled retailer
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NewsRace for space puts grocers' returns at risk
Fears have been raised that the rate of expansion by the big grocers will hit their financial returns and like-for-likes.
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NewsMorrisons posts 1.3% like-for-like growth in third quarter
UPDATED 11AM Supermarket group Morrisons notched up sales growth of 2.8%, excluding petrol, in the third quarter.
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NewsSelfridges sees 19% rise in pre-tax profits
Department store chain Selfridges has reported a 19% rise in pre-tax profits to £65.7m over the year to January 30.
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NewsSales rise at Next but so will prices
Fashion group Next has reported third quarter sales at the upper end of its guidance range and warned that clothing price rises will also be at the top end of expectations.
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NewsAlliance Boots health and beauty sales up 2%
Alliance Boots has reported sales up 2% in its health and beauty division to £3.637m in its mid-year update with like-for-like sales for Boots UK up 1.8%.
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NewsFindel profits to fall by £7m this year
Home shopping group Findel expects full-year profits to come in £7m below its expectations after contract delays at its educational division and accounting changes.
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NewsRicher Sounds profits slump 18%
Electricals retailer Richer Sounds has revealed its pre-tax profits slumped 18% to £2.8m in the year to the end of April.
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NewsIkea UK & Ireland full year sales edge up 1%
Furniture giant Ikea UK & Ireland experienced a 1% rise in like-for-likes in the year to August 31 as the retailer grew its share in a difficult big ticket market.
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NewsFocus brings in Lazard as owner considers its options
Focus DIY’s owners have hired bank Lazard to consider options that could lead to a sale of the home improvement chain.
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Shore Capital hires new retail analyst
Broker Shore Capital Markets has hired a new retail analyst.
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NewsRetail fears ebb but long-term risk stays
Fears for the retail industry because of the Government’s spending review seem to have been assuaged.
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NewsOcado rises on expansion prospects
Ocado shares rose at the start of the week when the home shopping group, which sells Waitrose groceries as well as other brands, said it could cater for 1.5 million more potential customers by expanding delivery to the Southwest of England and South Wales.
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NewsFlying Brands sales grow 12% despite setbacks
Home shopping group Flying Brands reported sales from its ongoing business rose 12% to £5.6m in the three months to October 1.
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NewsCarpetright sales fall 7.3% in ‘difficult’ market
Carpetright disappointed the City with its second-quarter update on Wednesday. The floorcoverings market leader suffered from unsettled consumer confidence and lower mortgage approvals.
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NewsDebenhams sticks to its guns over Christmas promotions
Debenhams will stick to its traditional promotional stance this Christmas, a strategy that it says is misunderstood by some observers.
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NewsShake-up for Peacocks as bidders circle
Peacocks has shaken up its management team as private equity houses circle the retailer.
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NewsBooths to boost sales with new own-brand
Booths, the grocer based in the Northwest of England, has revealed a 1.3% uplift in pre-tax profits to £7.6m as it launches a new own-brand to appeal to customers seeking value.
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NewsGo Outdoors triples profit to £4.3m and rejigs management
Outdoor specialist Go Outdoors’ pre-tax profits more than tripled from £1.2m to £4.3m in the year to January 3 and the retailer has rejigged management roles.
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NewsPhase Eight profits leap as changes bring flexibility
Womenswear chain Phase Eight more than doubled profits last year, after increasing its open to buy budget and focusing on refining its customer base.