Latest finance news – Page 615
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NewsShareholder revolt embarrasses Home Retail
Home Retail Group, owner of Argos and Homebase, says it has “taken note” of investor concern about directors’ bonuses after a shareholder revolt at Wednesday’s AGM.
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NewsCredit insurance woe hits stock at Threshers
Threshers owner First Quench Retailing is understood to be sourcing stock from the grey market after its supply chain was interrupted by the reduction of credit insurance to some of its suppliers.
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NewsLagging Waterstone’s fails to dampen resurgent HMV
Entertainment group HMV impressed the city with improved profits, despite difficulties at its Waterstone’s books chain.
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NewsAsos’s staggering growth expected to slow
Heavy high street discounting and unemployment among younger shoppers is likely to slow the meteoric growth of Asos.
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NewsBeales plots ‘aggressive’ strategy to regain profits
Beales is confident of returning to profitability when the recession abates after outlining its strategy to see it through the downturn.
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NewsInstore losses more than double
Losses at mixed-goods retailer Instore have more than doubled from £2.2m to £5.8m. Like-for-likes fell 0.8 per cent in the year to February 28 and the total was down 0.3 per cent to £295.8m.
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Sobeys reveals net profit hike
Grocer Sobeys has revealed a net profit hike of 21.1 per cent to C$226m (£118m) in the year to May 2.Like-for-like sales increased 5.2 per cent while total sales climbed 7.2 per cent to C$14.76bn (£7.7bn) as a result of new stores and extensions, as well as sales and ...
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Colruyt’s pre-tax profits rise
Discount grocer Colruyt’s pre-tax profits rose 8 per cent to €549m (£467m) in the year to March 31, missing forecasts of €559m (£475m). Total sales increased 11.2 per cent to E6.3bn (£5.35bn), in line with forecasts.The retailer said: “Despite the economic crisis the Colruyt Group continues to invest in future ...
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NewsCastorama holds firm as French DIY sector shrinks
Castorama holds firm as French DIY sector shrinks
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Pre-tax profits rise at H&M
Pre-tax profits at H&M rose 6 per cent to Skr5.78bn (£452.9m) in the second quarter to the end of May. Sales excluding VAT soared 23 per cent to Skr26.5bn (£2.1bn), an 8 per cent increase in local currencies and a decline of 2 per cent on a like-for-like basis.Gross margins ...
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NewsGame like-for-like sales plummet
Computer entertainment retailer Game has reported a 15.4 per cent fall in group like-for-like sales in the 21 weeks to June 27.
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NewsWinding up of Woolworths made advisers £14m
Woolworths’ administrator Deloitte, restructuring specialist Hilco and other advisers were paid at least £14m to wind up the variety store group.
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NewsMarks & Spencer reports improved sales in first quarter
Marks & Spencer reported an improvement in UK sales in its first quarter, buoyed by its 125th anniversary campaign and the timing of Easter.
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NewsInstore pins hopes on Poundstretcher as losses mount
Instore will target the value market by converting all of its core store portfolio to its Poundstretcher fascia as it seeks to curb losses that more than doubled in the year to February 28.
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NewsCarpetright profits tumble 72 per cent
Carpetright’s group pre-tax profit has slumped 72 per cent to £16.7m in the 52 weeks to May 2, 2009 as the domestic performance pulled down the group.
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NewsBeales first-half profits slide as outlook remains uncertain
Department store operator Beales has revealed its pre-tax profits fell from £570,000 to £540,000 in the 26 weeks to May 2.
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News99p Stores guns for growth as profits soar
Value retailer 99p Stores is gunning to break the £200m turnover barrier and operate 120 stores by the end its financial year.
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NewsLuxury positioning protects sales and profits at Mulberry
Mulberry’s profits beat market expectations as its luxury positioning provided some cushioning against the economic downturn.
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NewsTepid fundraising does job for Debenhams
City analysts have labelled the subdued take-up of Debenhams’ shares as part of its £323m fundraising a “disappointment” but said the department store group is nevertheless stronger as a result.
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NewsBlacks upgraded on back of funding hopes
Broker Singer Capital Markets has upgraded Blacks Leisure on the assumption that the troubled retailer will successfully win additional funding.