Latest finance news – Page 573
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NewsNew owner looks to exit Lombok after 10 months
Furniture chain Lombok’s owner, private equity firm Privet Capital, is seeking to exit the business less than 10 months after it bought it.
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NewsNew Asda boss Andy Clarke faces ambitious targets
Asda’s incoming chief executive Andy Clarke faces an “uphill battle” to achieve the retailer’s ambitious targets in food and non-food, according to City analysts.
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NewsMohamed Al Fayed: 25 crazy years in retail
Always controversial, always eccentric and not a man to be crossed, UK retail will be a less colourful industry following Mohamed Al Fayed’s £1.5bn sale of Harrods this week.
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NewsRefreshing French Connection
While market debutant SuperGroup has reported a surge in sales and likely profits, another fashion retailer in a similar mould is engaged in a battle to restore profitability.
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NewsBrokers look for continuity at M&S
Analysts took a relaxed approach to news that finance boss Ian Dyson is leaving Marks & Spencer.
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NewsDebenhams impresses with Danish acquisition
Analysts have reacted positively following a trip to see Debenhams’ Danish department store chain, Magasin du Nord, last week.
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NewsLiberty signs licensing deal with Italian menswear manufacturer
Liberty of London has signed its first licensing deal, the latest move in the department store’s attempt to become profitable.
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NewsClinton Cards like-for-likes dip
Clinton Cards has reported like-for-like sales excluding VAT were 1.7% lower in the 13 weeks to May 13 than the same period the previous year.
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NewsCurrys-owner DSGi unveils 6% like-for-like advance
Currys and PC World-owner Electricals group DSGi has posted a 6% rise in like-for-like sales in its second half and secured a new revolving credit facility.
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NewsSainsbury’s profits ahead of expectations
Sainsbury’s has reported underlying pre-tax profit ahead of expectations up 17.5% to £610m in its full year results.
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NewsMarks & Spencer outlines pension funding plan
Marks & Spencer has outlined the plan for its £800m pension scheme funding plan.
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NewsSales leap at Liberty
Sales at upmarket department store Liberty rose 40% in the first four months of this year, owner MWB has reported.
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NewsFlying Brands sales start to pick up
Jersey-based home shopping group Flying Brands will say at its AGM today that sales in its garden division in the year to May 7 hit £10.3m, down slightly on the £10.5m for the same period last year.
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NewsKesa sales hit by January’s ‘extremely poor weather’
Kesa group like-for-likes dropped 1.2% from January 9 to April 30 as poor weather hit sales, but the retailer said it expects full year adjusted pre-tax profits to be “significantly ahead of last year”.
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NewsWaitrose like-for-likes up 3.4%
Waitrose has reported its like-for-like sales for the 13 weeks to the end of April are up 3.4%.
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NewsSuperGroup full year sales soar 83%
SuperGroup, the young fashion business which owns brand Superdry and retail chain Cult, said that full-year group sales rose 83% to £139m in its first figures since it joined the stock market.
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NewsLiberty £32m sale moves closer
London department store Liberty has confirmed that it is in talks with private equity firm BlueGem Capital Partners about a possible £32m sale of the business.
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NewsBest Buy opening helps neighbour Currys deliver top trading result
Electricals group DSGi’s Currys megastore in Thurrock delivered one of its best trading weekends ever when rival Best Buy opened its first UK shop nearby last week.
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NewsFormer Bhs COO Paul Coackley leaves Arcadia
Arcadia Group chief financial officer Paul Coackley has left Sir Philip Green’s fashion chain.
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NewsRetail stock buoyant despite election fears
Retail shares were among the better performers as economic turmoil in Greece and political uncertainty ahead of the general election here took a toll on the market overall.