Latest finance news – Page 572
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NewsSports Direct stake in Blacks diluted after fundraising approved
Mike Ashley’s Sports Direct has had its stake in Blacks Leisure diluted after the outdoor retailer’s £20m fundraising was approved this afternoon.
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NewsMothercare sales pass £1bn but City profit expectations not met
Maternity specialist Mothercare generated full-year sales of more than £1bn for the first time last year but profits narrowly missed City expectations.
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NewsMenswear sales improve at French Connection
French Connection saw like-for-like retail sales in the UK and Europe fall 1.9% for the 14 weeks ended May 14, but performance was ahead of plan and better than last year thanks to improved gross margin and cost controls.
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NewsAsda Q1 like-for-likes fall 0.3%
Asda’s like-for-like sales excluding VAT and petrol have fallen 0.3% in its first quarter and the grocer expects conditions to remain tough.
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NewsTrade credit insurer demands more transparency
Credit insurer Coface is demanding more transparency from businesses in return for trade credit insurance.
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NewsOFT to probe Sports Direct stake in Blacks
The Office of Fair Trading is investigating Sports Direct’s stake in Blacks Leisure which it won ownership of in a High Court claim last week.
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NewsH&M like-for-likes decline 6% in April
H&M’s group like-for-like sales fell 6% in April compared with the same month last year.
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NewsWickes like-for-likes dip as consumers remain ‘wary’
Wickes owner Travis Perkins reported a 1.7% like-for-like decline in its retail business in the 17 weeks to May 1 as “wary consumers hold on to their money”.
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NewsAlliance Boots profit tops £1bn
Health and beauty giant Alliance Boots has reported profit has topped £1bn for the full year to March 31.
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NewsSports Direct wins High Court battle over shares
Sports Direct has won a High Court claim over disputed shares in its rivals.
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NewsConsumer confidence up despite economic concerns
Consumer confidence has risen to its highest level since November 2007 but many consumers are still concerned about the economy, bills and debt.
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NewsJón Ásgeir Jóhannesson resigns from House of Fraser board
Former Baugur boss Jón Ásgeir Jóhannesson has resigned from the board of department store group house of Fraser after a $2bn fraud lawsuit was filed against him in the US.
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NewsInconclusive election was ‘almost as bad as Lehman Brothers’
Store groups’ sales collapse after inconclusive election spooks shoppers
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NewsAurora hires ex-Asos man as online chief
Aurora Fashions has appointed former Asos marketing chief Hash Ladha to the newly created role of group multichannel director.
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NewsMcCarthy group injects £2m into skincare business
A consortium of private investors led by House of Fraser chairman Don McCarthy has injected £2m into beauty clinic chain DestinationSkin to fund expansion.
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NewsStrong growth at newly floated SuperGroup
Fashion specialist SuperGroup has confirmed that full-year profitability is on track to come in as it promised when it floated in March.
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NewsMorrisons presses on with promotions as sales slow
Morrisons is to continue its promotional drive this year after revealing a steep slowdown in sales growth in its first quarter.
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NewsRetail drifts as City ponders the big issues
Stores, particularly food retailers, underperformed a market convulsed by uncertainty as big issues such as the future of the euro and the outcome of the general election dominated headlines.
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NewsWaitrose still UK’s fastest growing supermarket
Waitrose has reported like-for-like sales up 3.4% in the quarter to the end of April, maintaining its position as the fastest-growing supermarket in the UK.
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NewsAustralian chain Coles poaches UK retailers
Australian grocer Coles has hired another clutch of UK retailers, reporting to retail and operations director Stuart Machin.