Latest finance news – Page 575
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NewsSupplier to relaunch Adams
Kidswear retailer Adams is poised to be relaunched on the high street after the brand name was bought out of administration by one of its suppliers.
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NewsMountain Warehouse to hike up expansion
Outdoor specialist Mountain Warehouse is gearing up for further expansion after reporting post-tax profits of £3.9m in the year to February 28, up 72% on last year.
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NewsAvatar set to bust DVD sales records and become biggest Blu-ray release
The DVD and Blu-ray release of blockbuster film Avatar has set the tills ringing in stores and online and is predicted to become one of the biggest releases of all time.
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NewsLord Kirkham upbeat after ‘bittersweet’ DFS exit
DFS founder Lord Kirkham has described the sale of his sofa chain to private equity firm Advent as “bittersweet” but vowed that the business would do “more of the same but at a much faster rate”.
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NewsAsda guns for share with price guarantee
Asda this week fired the latest salvo in the supermarket price war with the launch of a price guarantee as it tries to stem its market share decline.
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NewsSummer Sales brought forward due to Ramadan
Upmarket department stores are set to move their summer Sales forward in a bid to move to full-price autumn merchandise ahead of the lucrative pre-Ramadan shopping period.
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NewsWHSmith shines despite ash cloud dampening sentiment
WHSmith’s group pre-tax profit edged up 2% to £62m in its first half but despite beating analyst expectations, upgrades were dampened by the retailer’s airport stores being closed during the volcanic ash crisis.
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NewsDunelm slowdown ‘in line with expectation’
Value homewares retailer Dunelm’s slowdown in like-for-like growth met analysts’ expectations as it came up against tough comparables and suffered from a weaker sales period after Easter.
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NewsHobbyCraft sold to Bridgepoint Capital
HobbyCraft has been sold in a management buyout backed by private equity firm Bridgepoint Capital, as predicted by Retail Week last week.
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NewsPositive sales for PPR in first quarter
French retail group PPR reported a positive first quarter with sales up 1.3% on a like-for-like basis to €4.1bn (£3.56bn) in the first quarter of the year.
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NewsHMV Group Q4 like-for-likes slump 13.2%
HMV Group has reported difficult fourth quarter with like-for-likes slumping 13.2% but said its full year pre-tax profits will meet City expectations.
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NewsHome Retail pre-tax profits slip 11%
Home Retail Group – owner of Argos and Homebase – has reported pre-tax profit down 11% to £293m and announced a share buy-back of £150m.
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NewsCarpetright sales below expectations as it warns of tough year ahead
Carpetright like-for-likes in the UK & Ireland rose 1.5% in the 12 weeks to April 24, which was below internal expectations.
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NewsN Brown to enter the US after a record year
N Brown has confirmed plans to enter the US later this year as total sales for the home shopping group grew 4.2% to £690m in the year to February 27.
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NewsDunelm like-for-likes up 10%
Dunelm has reported like-for-like sales up 10% in the 42 weeks to April 24, boosted by a positive response to its new shop fit.
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NewsCarphone Warehouse bullish ahead of Best Buy opening
Carphone Warehouse Group has reported like for like sales up 3% in its European business in its fourth quarter, as the group gears up to open its first Best Buy store in the UK this Friday.
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NewsRepublic up for sale
Young fashion chain Republic has been put up for sale by its private equity owner Change Capital.
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NewsBill Grimsey to become Focus chair
Focus chief executive Bill Grimsey is to become chairman at the DIY chain with managing director Rob Gladwin taking over as chief executive.
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NewsFindel profits to be below expectations
Home shopping group Findel has reported full year sales up 1% to £582m but said it pre-tax profits would be below expectations after a review of some of its accounting entries.
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NewsOcado poised to appoint banks for IPO
Ocado is understood to be poised to appoint JPMorgan Cazenove, UBS and Goldman Sachs to advise on a possible £1bn flotation this summer.