Latest finance news – Page 581
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NewsSuperGroup close to IPO target despite City jitters
SuperGroup was expected to achieve an IPO valuation of £395m as Retail Week went to press.
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DSGi update may lead to shares uplift
Next Friday could be a catalyst for the shares of DSGi, when it will host a strategy day at its Currys Megastore in Thurrock, Essex.
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NewsLosses widen at Jysk despite strong sales
Danish furniture retailer Jysk’s UK operation has reported strong sales in its full-year accounts, although losses widened as start-up costs hit its bottom line.
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NewsFlowers direct chief moves to Shop Direct
Shop Direct has appointed Jonathan Wall, chief executive of online florist Flowersdirect.co.uk, as its new ecommerce director.
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NewsFat Face owner injects new capital to secure future growth
Fat Face owner Bridgepoint has injected £8.5m into the business to help the retailer’s expansion plans, it has emerged.
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NewsHome Retail profits to beat expectations despite Argos sales fall
A later than usual catalogue launch and wintry weather contributed to a like-for-like sales fall of 9.4% at catalogue store group Argos but parent Home Retail Group expects its full-year results to beat expectations.
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NewsSuperGroup to expand and launch marketing campaign after IPO
SuperGroup will use the £125m the expected float will raise to open 20 stores and launch a marketing campaign, founder Julian Dunkerton said.
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NewsHobbyCraft picks six suitors for second-round bids
Arts and Crafts retailer HobbyCraft has narrowed its list of suitors to six bidders.
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NewsCard Factory founders set to rake in £400m
Card Factory has received bids for the business from several private equity groups that could result in the founders taking home a £400m windfall.
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NewsBlacks Leisure starts store expansion
Blacks Leisure has begun a store rollout programme which it said is the next phase in the company’s turnaround plan.
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NewsMatalan founder to pay himself £250m dividend
Matalan founder John Hargreaves is set to pay himself a £250m dividend as part of refinancing plans at the value chain.
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NewsIPO to value SuperGroup at £395m
Fashion retailer SuperGroup is expected to reveal this week an IPO share price of 500p, valuing the business at £395m.
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NewsBlacks poised to seek deadline for Ashley bid
Blacks Leisure is likely to ask the Takeover Panel to issue a ‘put up or shut up’ notice to tycoon Mike Ashley’s Sports Direct following the latter’s disclosure that it is considering a takeover of its rival.
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QVC’s UK sales bolstered by second-half lift
UK sales at TV shopping business QVC climbed 2.3% to £367.9m in 2009 after a stronger second half.
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NewsCity sees opportunity as shares fall again
General retailers had another poor week and have lost about 10% of their value this year.
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Dunelm eyes expansion as profit and sales impress City
Dunelm’s pre-tax profits rocketed 69.3% to £46.2m in the 26 weeks to January 2 and the retailer is to double the size of its warehouse to support future expansion.
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Game to shrink portfolio amid tough trading
Entertainment retailer Game is to shut 18 stores and all of its 25 Debenhams concessions as it reviews its property portfolio in the face of “tough market conditions in 2010”.
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Hotel Chocolat outlines growth plan
Hotel Chocolat is to open between 10 and 15 stores this year, after reporting a strong start to the year with like-for-like sales up 14% in January.
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Interest in Tesco shares strong
US investor Warren Buffett raised his stake in Tesco to 3% this week, prompting a 3.2% rise in the grocer’s share price to 433p on Monday.
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NewsRWC2010: Retail poised for period of M&A activity, says Debenhams chief
Debenhams chief executive Rob Templeman has said the sector is poised for a period of mergers and acquisitions as the recovery gains momentum.