Latest finance news – Page 554
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News
Grocer Stokes goes into administration
Family-owned independent grocer Stokes has gone into administration.
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NewsArgos suffers profits fall
Argos and Homebase owner Home Retail Group has posted a plunge in interim profits.
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NewsSports Direct profits up as bonus scheme pays off
Sports Direct gross profit increased 5.4% to £117m in the 9 weeks to September 26 as its bonus share scheme paid off.
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NewsNo charges to be brought against JJB Sports and Sports Direct, SFO concludes
The Serious Fraud Office (SFO) will confirm imminently that its investigation into Sports Direct and JJB Sports is over and no charges will be brought against the companies, the retailers revealed in regulatory announcements this morning.
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NewsLacklustre sales fail to dent general stores
General stores rose over the week versus the All-share index, even edging up on Tuesday when the latest BRC sales data showed a lacklustre performance.
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NewsKesa’s French powers of recovery
Electricals group Kesa showed off its French business Darty to analysts last week to demonstrate some of the growth avenues open there.
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NewsTed Baker profits boosted as customers smarten up
Strong sales of formalwear at Ted Baker helped to drive a 25% increase in first-half profits as customers looked for smarter product during the downturn.
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NewsM&S urges caution despite increase in sales
Marks & Spencer beat second-quarter sales expectations but chief executive Marc Bolland remained cautious about prospects. Despite Bolland’s wariness, and a rise in costs such as marketing, analysts upgraded their forecasts ahead of a strategic update next month.
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NewsN Brown on the acquisition trail after strong start to year
Home Shopping group N Brown is eyeing further acquisitions to drive growth as it revealed a strong first half.
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NewsJeweller F Hinds sees profits sparkle
F Hinds, the family-run jewellery retailer, has seen profits for the year more than treble to £3.2m, up from £990,048 in 2009.
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NewsLandlords join retailers in business rates battle
Retail landlords have lent their voice to the campaign against next year’s rise in business rates, warning that a disproportionate increase will endanger the economic recovery.
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NewsHomeform chief sets out his three-year plan
Kitchens, bedrooms and bathrooms specialist Homeform’s new chief executive has laid out a three-year plan to increase profits and enable an exit for owner Sun European Partners.
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NewsHalfords set to cut space as web sales accelerate
Retailer to cut space by at least 15% as online allows it to downsize its portfolio.
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NewsProfits up, sales down at WH Smith
WH Smith has announced a 9% increase in full-year profits this morning.
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NewsMothercare overseas sales overtakes UK sales
Mothercare has said overseas sales have overtaken UK sales for the first time in its first half.
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NewsKesa shares soar on Best Buy bid speculation
Speculation that a takeover of Anglo-French electrical group Kesa may be on the cards has prompted the retailer’s share price to soar.
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NewsN Brown first half profits up 5.5%
Home shopping retailer N Brown has revealed that its adjusted pre tax profit grew 5.5% to £44.1m in the six months to August 28.
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NewsRetail administrations slow
The rate of businesses going into administration has slowed to levels not seen since before the economic downturn, with the retail sector showing the “most pronounced drop”.
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NewsWickes like-for-likes rise 0.6% in third quarter
DIY chain Wickes like-for-likes grew 0.6% in the 13 weeks to October 2.
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NewsAge of food discounter over as Aldi racks up £54m loss
Aldi, the German discounter that became a byword for the shift to value in the recession, has suffered a dramatic reversal of fortune, turning a £93m pre-tax profit in the UK and Ireland into a £54m loss last year.