Latest finance news – Page 566
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NewsOcado will make no money until 2014, adviser says
Online grocer Ocado will not make a profit until 2014, one of the banks advising it on an IPO has revealed.
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NewsPets at Home profits soar
Retailer achieves recession-busting performance and downplays VAT threat as it plans 150 more stores
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NewsDouble-dip recession fears spook the City
Renewed fears of a double-dip recession following austerity measures put the frighteners on the market on Tuesday, when every FTSE 100 stock fell.
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NewsJacques Vert to pay first dividend in 15 years
Womenswear retailer Jacques Vert will pay a dividend for the first time in 15 years following a swing to profit last year.
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NewsCarpetright eyes sales boost ahead of January VAT rise
Carpetright expects a sales fillip this autumn as consumers buy ahead of January’s VAT rise, and has posted an increase in preliminary profits.
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NewsTheo Fennell set to shine again after cutting losses
Upmarket jeweller Theo Fennell is on track to return to profit next year following a restructure, the return of its eponymous founder and plans to launch an affordable range.
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NewsBeales on a roll as profits leap 67%
Department store group Beales is poised to roll out men’s young fashion departments into all stores and make further acquisitions following a leap in pre-tax profits.
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NewsMatalan reaps rewards of investment
Value fashion and homewares retailer Matalan has reported a 30% increase in profits, driven by investment in products, stores and people.
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NewsDisney insists sparkle will return despite dip
Disney Stores has slipped back into the red in the year to October 3 after posting a pre-tax loss of £11.3m compared with a profit of £2.8m the year before.
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NewsBig-ticket retailers plan to turn timing of the VAT increase to their advantage
Big-ticket retailers are putting plans in place to capitalise on the timing of the VAT increase that takes effect on January 4.
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NewsTom Hunter puts shoe chain Office up for sale with £200m price tag
Retail entrepreneur Sir Tom Hunter has put his footwear chain Office up for sale, with a potential price-tag of £200m.
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NewsGrocers face muted growth, warns Bond
Asda chairman Andy Bond has cautioned that grocers face “two years of muted growth” as shoppers continue to tighten their belts in the tough climate.
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NewsDebenhams posts like-for-like sales fall and acquires 115 Faith concessions
Department store group Debenhams has reported a like-for-like sales fall of 0.4% for the 42 weeks to June 19 and has agreed to buy bust footwear retailer Faith’s concessions.
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NewsActivist investor builds stake in Kesa
Activist investor Knight Vinke has built up a 3% stake in Anglo-French electricals retailer Kesa, owner of the Darty and Comet chains.
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NewsCarpetright profit surges as UK business improves
Carpetright pretax profit grew from £16.7m to £22.3m in the year to May 1.
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NewsLiberty chief executive Geoffroy de La Bourdonnaye steps down
Liberty chief executive Geoffroy de La Bourdonnaye has stepped down from the premium London department store, following its sale to private equity firm BlueGem Capital Partners.
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NewsWarren Buffett increases stake in Tesco
Legendary investor Warren Buffett has increased his stake in supermarket group Tesco and now holds just over 3% of the grocer’s shares.
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NewsStruggling Game warns of loss in first half
Continued declining sales and a likely interim loss at computer entertainment specialist Game prompted downgrades by analysts.
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NewsRetailers in favour despite hike in VAT
Retailers can live with the effects of Tuesday’s emergency Budget: that was the snap judgement of store chiefs and investors alike to the Chancellor’s announcement.
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NewsFurniture Village bucks trend to more than double pre-tax profit
Furniture Village has more than doubled its profit before interest and tax from £2.4m to £5.4m in the year to March 2010 - but has warned that the outlook for the current year remains tough.