Latest finance news – Page 570
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News
JJB to expand own-brand and increase tie-ins in recovery bid
JJB Sports reported that growth in own-brand goods and more exclusive tie-ups with other brands will help bring customers back into stores and improve margins as it battles to turn around after suffering heavy losses.
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NewsGreater brand mix lifts Jones Bootmaker sales
Jones Bootmaker has delivered improving trade this year with like-for-like sales up 17% in the four months to the end of May.
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NewsAll Saints smashes sales targets after low-key New York launch
All Saints has put British fashion firmly on the global map after it racked up sales of nearly $1m (£680,000) in its first week of trading on New York’s Broadway.
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NewsOFT clears Sports Direct stake in Blacks
The Office of Fair Trading (OFT) has ruled that Sports Direct’s shares in Blacks Leisure did not create any competition issues.
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NewsSelf-help measures drive Kingfisher quarterly profits rise
Improved gross margin and cost productivity helped DIY giant Kingfisher post a rise in first quarter profits despite a like-for-like sales fall.
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NewsTesco staff to receive record shares payout
Staff at Tesco will be rewarded today with their share of a £105m bonus pot in the grocery giant’s biggest ever shares scheme.
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NewsTopps Tiles profit falls in first half
Topps Tiles adjusted profit before tax and discontinued operations fell from £8.7m to £7.8m in the 27 weeks to April 3 as consumer confidence remains subdued.
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NewsNew Look profits climb 17.7%
New Look has reported strong growth in sales and profits for its full year to March 27 with underlying operating profits for the fashion group ahead 17.7% to £163m.
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NewsMoss Bros like-for-likes climb 12.6%
Suit specialist Moss Bros like-for-likes climbed 12.6% in the 16 weeks to May 22, while total sales rose 12%.
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NewsDiscounters fear rise in VAT
Discount retailers have warned that a rise in VAT would smash their margins and result in some products being pulled off the shelves.
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NewsAurum wants Mappin to be ‘next Tiffany’
Jewellery group Aurum aims to lift sales above £350m this financial year with a plan to turn Mappin & Webb into “the next Tiffany”.
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NewsRetail prices tumble in climate of unease
General retailers took a bashing as turmoil embroiled the markets generally. Fears about the eurozone crisis and political tension in the Far East undermined the FTSE - every blue-chip stock fell on Tuesday.
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NewsAnalysts cool on French Connection
The City reacted coolly to French Connection’s interim management statement last week, which showed that the retailer improved margins but that like-for-like sales fell.
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NewsFlying Brands blossoms with florist acquisition
Home shopping group Flying Brands has beefed up its gifts division with the acquisition of online florist Flowers Direct.
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NewsBlacks suppliers help fend off Sports Direct
Blacks Leisure suppliers have been building stakes in the outdoor retailer in what has been seen as a defensive move to block any further bid approaches from Sports Direct founder Mike Ashley.
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NewsKingfisher and Topps Tiles updates won’t lift home sector gloom
Updates from Kingfisher and Topps Tiles next week are expected to paint a subdued picture of the home sector’s performance.
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NewsTop credit insurer to give retailers notice of future cover reductions
Credit insurance giant Euler Hermes has altered its ratings procedure to give retailers and suppliers the chance to challenge any decisions to reduce cover.
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NewsThorntons ‘in limbo’ as Davies makes exit
Thorntons faces a period “in limbo” after chief executive Mike Davies stepped down on Tuesday.
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NewsLess healthy foods face ‘fat VAT’ threat, Justin King warns
Sainsbury’s boss envisages tax change as Government tries to balance the books
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NewsSales at Signet hit by election uncertainty
Sales in the UK at Jewellery group Signet fell 0.2% on a like-for-like basis in its first quarter to May 1, as the election tool its toll on consumer confidence.