Latest finance news – Page 556
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NewsSluggish growth puts brokers off their food
Food retailers’ shares looked far from scrumptious ahead of Tesco’s interim results next Tuesday and Sainsbury’s second-quarter update a day later.
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NewsHalfords is ‘investment opportunity’
Motor accessories and bikes group Halfords remains on analysts’ buy lists despite the departure of finance director Nick Wharton and anticipation of weakening sales.
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NewsNext joins with Sears to sell clothing online in US
Next is to sell clothing online in the US in partnership with retail giant Sears.
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NewsGame eyes opportunities despite £18.8m loss
Game recorded a worse than expected first-half loss but new chief executive Ian Shepherd said there were “clear opportunities” when the market bounces back.
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NewsJJB takes cautious approach as volatile trading continues
JJB Sports slashed losses in its first half but investors took fright at volatile trading conditions since.
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NewsMint Velvet sales top £10m in first year
Womenswear chain Mint Velvet has notched up sales in excess of £10m in its first year of trading and “exceeded expectations”, said managing director Liz Houghton.
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NewsHome Bargains warns of tough times ahead
Value retailer Home Bargains has reported another record year but warned that the value sector is heading for tough times as margins are squeezed in the face of rising costs, and competition hots up.
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NewsVision Express fights to capture optical spend with promotions
Vision Express has launched a series of promotional initiatives after reporting strong figures for the 2009 financial year.
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NewsUnited Carpets reports "challenging" first half
United Carpets said trading has been “challenging” in the 25 weeks to September 30 as like-for-likes dropped 5.5%.
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NewsJJB Sports funding concern prompts big broker downgrade
Broker Singer has slashed its price target for JJB Sports by more than a third to just 8p because of concerns about the retailer’s funding and punishing trading conditions.
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NewsMoss Bros to axe staff as pre-tax losses widen
Menswear retailer Moss Bros is axing jobs as its pre-tax losses widened to £3.3m over the six months to July 31.
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NewsTopps Tiles full year sales up
Topps Tiles said it expects to report UK revenues up 2% to £182.4m in the 53 weeks to October 2.
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NewsJJB cuts losses but prepares for promotional blitz
JJB Sports has hailed “steady progress” in its turnaround after cutting losses and fattening margins in its first half.
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NewsWalmart to buy South African retailer Massmart, Asda’s Andy Bond to oversee
Walmart intends to push into Africa with the $4.2bn acquisition of general merchandise group Massmart.
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NewsTesco chief Sir Terry Leahy attacks investor short-termism
Tesco chief executive Sir Terry Leahy has criticised short-term investor attitudes and such shareholders’ superficial understanding of companies in which they hold stakes.
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NewsBestseller rules out bid for fashion etailer Asos
Danish retailer and investor Bestseller has ruled out bidding for online fashion specialist Asos.
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NewsVAT rise won’t hurt us, says JD Sports Fashion
JD Sports Fashion expects to feel little impact from the VAT rise in January and has posted a surge in first-half profits.
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NewsKesa pleases despite Comet concerns
Kesa Electricals, which owns UK chain Comet, posted first-quarter figures last week.
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NewsDunelm profits surge as Adderley passes baton
Value homewares retailer Dunelm reported a profit surge of 46% in its full year as it revealed that Will Adderley, its chief executive of 15 years, will step down.
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NewsSolid updates ensure retail shares pick up
Store shares shifted off the shelf last week as a raft of decent updates - albeit with the usual caveats about prospects - left investors wondering whether retailers had been oversold.