Latest finance news – Page 649
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Negative retail updates soar in third quarter
Quoted retailers posted more negative updates in the third quarter than at any point in the last two years.
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Leading Baugur investor files for administration
Icelandic investment business Stodir, which is controlled by Baugur executive chairman J n sgeir J hannesson and which said in July it was acquiring 39 per cent of Baugur, has filed for administration.
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House of Fraser financier nationalised
Glitnir, the Icelandic bank that played a key role in Baugur’s acquisition of House of Fraser, has been nationalised.
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Rosebys enters administration
Value home furnishings retailer Rosebys has fallen into administration and is the latest high street victim of the credit crunch.
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News99p Stores sales up as shoppers pursue value
Value retailer 99p Stores has recorded a 7 per cent hike in like-for-like sales for the calendar year to date as cash-strapped shoppers flood to its shops.
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Topps tiles: The city view
Topps Tiles revealed like-for-likes have plummeted 13.1 per cent in the past eight weeks, but the specialist retailer has managed to renegotiate its loan covenants.
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Retail stocks relief short-lived as disappointing updates flood in
Last Friday’s rally following attempts in the US and UK to stabilise volatile markets benefited retail stocks, which surged.
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Park Group lifted as cautious shoppers save for Christmas
Credit-crunched shoppers have helped performance at Christmas savings company Park Group, which supplies products such as seasonal hampers and vouchers.
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B&Q initiative a hit as Kingfisher profits leap
Kingfisher-owned DIY giant B&Q is reaping the benefits of a scheme to improve store standards, having cut gaps on shelves by 25 per cent.
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Ocado seeks cash injection from investors
Online grocer Ocado is seeking 20 million to pay down net debt in the current climate, but says it is trading well despite the decrease in consumer spending.
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Maxeda confident of weathering storm as profits rise
Maxeda, the Dutch store group run by former Asda boss Tony DeNunzio, generated a leap in interim profits despite difficult retail conditions.
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Moss Bros first-half losses widen
Losses at menswear specialist Moss Bros widened during the retailer’s first half, when sales also fell.
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Sales fall for majority of retailers
Sales have fallen for the majority of retailers on the high street, with no respite in sight for October.
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Park Group sales rocket as customers spread cost of Christmas
Christmas savings retailer Park Group has been buoyed by the economic downturn as cash-strapped families save further ahead for Christmas.
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Park Group sales rocket as customers spread cost of Christmas
Christmas savings retailer Park Group has been buoyed by the economic downturn as cash-strapped families save further ahead for Christmas.
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Gap acquires US sports brand
Fashion retailer Gap has acquired US women’s sports and active apparel retailer Athleta for about US$150 million ( 81.3 million) in cash.
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Gap acquires US sports brand
Fashion retailer Gap has acquired US women’s sports and active apparel retailer Athleta for about US$150 million ( 81.3 million) in cash.
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JD Sports profits jump
JD Sports Fashion has bucked the high street gloom with pre-tax profits rocketing 71 per cent to 9.1 million in the 26 weeks to August 2.
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JD Sports profits jump 71%
JD Sports Fashion has bucked the high street gloom with pre-tax profits rocketing 71 per cent to 9.1 million in the 26 weeks to August 2.
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MFI 'seeks emergency funding'
MFI parent company Merchant Equity Partners (MEP) has appointed Argyll Partners to find new investors that can pump money into the company as a matter of urgency.