Latest finance news – Page 561
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NewsNext update and BRC data hits retail stocks
Retail stocks were left on the shelf following downbeat reports last week from Carpetright and Next and gloomy BRC July retail sales data this week.
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NewsRetailers plan Sales to capitalise on VAT rise
Retailers are aiming to capitalise on the VAT rise by planning targeted Sales and promotions in the run-up to the new year, according to a new report.
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NewsFlying Brands turnaround continues apace
Home shopping group Flying Brands is confident that renewed focus on its core gardening and gifts offer and a push for more online sales will strengthen the business as it continues with its turnaround.
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NewsUnited Carpets warns positive results will be hard to replicate
Floorings specialist United Carpets posted full-year results ahead of expectations but weaker current trading led to downgrades of this year’s profit forecasts.
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NewsResults fail to boost confidence in Kesa
Electricals group Kesa has much to prove as it pushes on with an improvement programme Investec said, rating its shares a hold.
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NewsEarly Sale tactics pay off for West End stores
Department stores reaped rewards by moving their summer Sales forward to benefit from the surge in Middle Eastern shoppers ahead of the Ramadan religious festival.
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NewsValue sector warning from M&Co as it doubles profits
The fashion retailer has defied the recession but says price increases will challenge value retailers
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NewsFindel sells loss making arm
Home shopping group Findel has sold its loss- making arm CWIO to The Hut Group to help reduce its debt.
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NewsJJB Sports shareholder ups its stake
JJB Sports has received a boost after US investment firm Harris Associates upped its stake in the beleaguered retailer to become its largest shareholder.
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NewsFlying Brands profits fall
Group pre-tax profits fell at multi-channel retail group Flying Brands after the disposal of some of its assets.
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NewsUnited Carpets full year profits rocket while current trading weakens
Floorings retailer United Carpets pretax profits soared 84.5% to £1.1m in the year to March 31, although current trading has weakened.
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NewsBeales buys Westgate department store in Rochdale
Indie department store chain Beales has bought the Westgate department store in Rochdale for £300,000.
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NewsJones Bootmaker up for sale with £50m price tag
A ‘for sale’ sign has been hoisted over footwear retailer Jones Bootmaker.
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NewsGrocery shares climb defies watchdog news
Food and general retailers alike edged up ahead of the market as the dog days of August got under way. Each continues to lag the All Share index over the year, however.
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NewsSmartphone shift is Carphone’s ticket
Broker Oriel initiated coverage of Carphone Warehouse with a buy note on the back of consumer adoption of smartphones and the potential of its constituent operations.
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NewsOcado has ‘everything to prove’, broker says
Ocado has a “racy valuation” but is a “sophisticated offering with everything to prove”, according to Collins Stewart analyst Greg Lawless.
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NewsWickes predicts tough times ahead for big-ticket market
DIY retailer Wickes anticipates a punishing big-ticket market for years to come as consumer confidence dips and the outlook for mortgage approvals is weak.
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NewsWolfson and Harris: tough times in store
Bellwether retailers Carpetright and Next spooked the City on Tuesday with cautious updates presaging punishing times for the stores sector.
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NewsFurniture chain Mark Elliot rescued from administration
Furniture chain Mark Elliot has been bought out of administration by investor SKG Capital.