Latest finance news – Page 656
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Mothercare first-quarter sales advance
Mothercare has posted a rise in UK like-for-like sales and a surge in international revenues during its first quarter.
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Receivers called in at Dawnay Day
Two private shareholders of Austin Reed may be pursued for their assets as receivers were called in at Dawnay Day.
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Co-op buys Somerfield for £1.56bn
The Co-operative Group has sealed its long-awaited 1.56 billion deal to buy Somerfield.
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June like-for-likes down 0.4 per cent
UK like-for-like sales dipped 0.4 per cent in June, compared with the same month last year.
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Primark on track to beat market as sector suffers
Primark was expected to outperform the fashion market again as Retail Week went to press, but its like-for-like growth is thought to have levelled out as the market slowdown kicked in.
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BMB set to buy entire Pierre Cardin UK licence
Menswear supplier BMB is poised to acquire all of the UK licences for Pierre Cardin, in a deal that will have implications for Debenhams and Moss Bros.
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NewsFat Face sales jump
Fat Face sales soared 16.3 per cent from £108.6 million to £126.4 million for the full year to May 31.
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Interest rate held at 5%
The Bank of England has held the UK interest rate at 5 per cent as spiralling inflation outweighs concerns over slowing economic growth.
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Netto sales climb
Value retailers continue to pull in the customers, with Netto announcing a 7 per cent sales increase over the year to June 14.
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Shop price rise for June stays below inflation
June shop prices were 2.5 per cent higher than last year but below overall inflation, according to the BRC-Nielsen Shop Price Index.
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Marks & Spencer pulls out of Taiwan
Marks & Spencer is to close all its stores in Taiwan after just 14 months of trading in the country, dealing another blow to the embattled retailer.
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Qataris increase stake in Sainsbury's
The Qatar Investment Authority has upped its stake in Sainsbury’s to 26 per cent.
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Flying Brands to shut Greetings Direct after US move flops
Home shopping group Flying Brands is to shut its Greetings Direct business after its US launch failed.
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John Lewis sales slide 8%
John Lewis has posted an 8.3 per cent fall in sales at its eponymous department store business for the week to June 28.
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Baugur move to UK looks likely
Baugur, the Icelandic investor that controls swathes of the UK high street, is expected to announce today its intention to move to the UK.
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DSGi: the City view
There were few surprises in John Browett’s first set of full-year results as chief executive of DSG International but, although the results were well-flagged, Browett struggled to convince the City that better times lie ahead.
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Retailers slide as M&S’s share dive leads wave of falling stocks
While Marks & Spencer’s terrible performance in food grabbed the headlines on Wednesday, it was the general retailers that got a battering, as Sir Stuart Rose warned the market was at its toughest since the early 1990s.
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Findel sales up
Home shopping group Findel has disclosed a 3 per cent rise in group sales in its second quarter, compared with the same period last year.
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Asos set for overseas assault as profits race booms
Asos is poised to launch foreign-language versions of its web site as it sets its sights on international expansion to continue market-leading growth.
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99p Stores cashes in on weak economy
Single price-point retailer 99p Stores has reported strong growth as shoppers flock to its stores in an effort to better control their purse strings.