Latest finance news – Page 568
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NewsTesco and Sainsbury’s insist growth to come
Grocers positive despite high petrol prices and low inflation hitting Q1 sales
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Analysts see Alexon opportunity
Alexon reported a 5.4% drop in like-for-like sales in the 19 weeks to June 12 - an acceleration on the first 11 weeks when sales fell 4%.
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NewsHalfords seeks more deals as profits soar 27%
Car parts and cycles retailer Halfords is revving up to acquire more businesses after full-year figures showed the business is motoring.
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NewsJJB Sports chairman John Clare to be paid in shares
JJB Sports’ chairman John Clare has shown his confidence in the recovery of the sports chain by taking a share award only for his role at the retailer rather than cash.
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NewsMulberry posts 23% rise in sales
Mulberry has posted a 23% rise in sales for the year to March 31 as the luxury clothing and accessories house continues to grow its business internationally.
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NewsGame appoints new CEO
Game has appointed Vodafone UK consumer director Ian Shepherd as its new chief executive.
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NewsTed Baker appoints non-executive director
Ted Baker has drafted in commercial lawyer Anne Sheinfield as an independent non-executive director.
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NewsSainsbury’s like-for-likes slow
Sainsbury’s has reported like-for-like sales in its first quarter up 1.1% excluding petrol in the 12 weeks to June 12.
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NewsAlexon sales fall 5% since year end
Alexon Group, owner of womenswear retailers and brands including Ann Harvey and Kaliko, posted a 5.4% drop in like-for-like sales for the 19 weeks to June 12, partly driven by the volcanic ash cloud and the election.
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NewsBurberry boss receives £3.16m pay-out
Burberry paid its chief executive Angela Ahrendts £3.16m, which included her maximum bonus allowance, following a strong performance for the luxury group.
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NewsTesco’s UK performance hit by petrol prices and low food inflation
Tesco has reported UK like-for-like sales were up just 0.1% excluding petrol and VAT-adjusted in the 13 weeks to May 30, hit by rising petrol prices and low food inflation.
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NewsStrong start to the year for Ideal Shopping
Ideal Shopping Direct has had a positive start to its financial year with group sales, excluding recent acquisitions, up 10.5% in the 21 weeks to May 30.
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NewsTed Baker retail sales rise 20%
Fashion retailer Ted Baker posted a 20.4% rise in retail sales over the 19 weeks to June 12.
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NewsMajestic Wine pre-tax profits leap 117%
Majestic Wine has reported a 117% increase in pre-tax profit to £16m in its full year results as its minimum order change drove volume.
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News99p Stores lays out plans to become ‘one-stop’ shop
99p Stores has revealed another bumper year of sales and profits as it lays out plans to become a “one-stop” convenience shop by ramping up its food offering.
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NewsUncertainty hits food and general retailers
The week in retail was dominated by the surprise announcement of Sir Terry Leahy’s plans to retire as chief executive of Tesco next March. Tesco shares fell more than 2% on Tuesday as the City digested the news, but analysts were happy with the appointment of Tesco veteran Phil Clarke ...
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NewsKingfisher’s ‘self help’ drives 12% profit rise
Kingfisher chief executive Ian Cheshire has said its “self help” agenda has helped it achieve growth in a tough market as the DIY group posted a profit rise of 12% in the 13 weeks to May 1, slightly ahead of market consensus.
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NewsAsos seeks delivery partners and targets £1bn 5-year sales
Asos is stepping up its delivery options as it plans partnerships with high street stores where customers can pick up and return their Asos orders.
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NewsIceland ditches celebrities in its ads
Frozen foods retailer Iceland is to launch its new ad campaign with an Iceland customer as its star, after reporting another record year this week.
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NewsTough challenges that have to be faced by Tesco’s Philip Clarke
Tesco’s seamless succession planning has been lauded by the City as a success, but analysts warn that incoming chief executive Philip Clarke has a tough job ahead of him.