Latest finance news – Page 668
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M&S voucher drive sparks stock fears
Marks & Spencer has distributed 800,000 discount vouchers offering 20 per cent off clothing, food and homewares this weekend as the retailer attempts to drive sales in the final weeks of its financial year, according to a report in The Daily Telegraph .
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John Lewis tests ban on cheques
Department store John Lewis has taken a step away from accepting personal cheques with a trial in two of its branches.
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Elvi falls into administration
Plus-size fashion chain Elvi has fallen into administration after the retailer failed to secure new investment.
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Base enters administration
Men’s and boys’ fashion chain Base Menswear has gone into administration, following poor sales at its 18 UK stores.
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Interest rate cut to 5.25%
The Bank of England has cut interest rates by a quarter-point to 5.25 per cent.
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Sports Direct: The City View
Sports Direct moved up the City’s retail league after striking a deal with Chinese retailer ITAT.
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Base on a knife-edge as poor trading bites
Men’s and boys’ fashion chain Base Menswear was locked in crisis talks to stave off administration as Retail Week went to press.
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Morrisons’ soaring growth dents rival supermarkets’ share prices
Following share price rises in recent weeks, retail stocks went into reverse and food groups were hit most heavily.
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Jagtiani reignites Debenhams bid speculation
Retail tycoon Micky Jagtiani has renewed speculation that he may yet make a bid for department store Debenhams.
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Shop price inflation climbs 1.2 per cent
Shop price inflation in the UK was 1.2 per cent higher in January compared with the previous year, up from 1 per cent in December.
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Disposable incomes continue to fall in UK
British families are facing increasingly smaller disposable incomes, as bills and taxes grow faster than most incomes.
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The Works enters administration
Bargain bookseller The Works has gone into administration, as reported in this week’s issue of Retail Week .
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Carrefour to refocus stores and own-label food brands
Carrefour is expected to focus on a radical overhaul of the branding of stores and its own-label food business in France to deliver a “breakthrough year”.
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N Brown: the city view
The home shopping giant took analysts to dinner on Tuesday night, when it impressed them with its business strengths as well as its cocktails.
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Hopes rise for retailers as City says prospects are looking up
Another good week for the sector meant brokers chewed over whether it is once again the right time to buy on the back of retailers’ sharp re-ratings.
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Kinnaird set on Dolcis revival as landlords rally
John Kinnaird remains confident of launching a bid next week for footwear chain Dolcis, as he continues to rally landlord support.
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Sports Direct invites City for peace talks
Sports Direct has offered an olive branch to the City – the first sign that the retailer is willing to play ball as a public company.
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Otto begins review that could lead to UK sell-off
Otto UK is conducting a wide-ranging strategic review of its UK operation, which could result in its German parent selling off the UK home shopping group.
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WHSmith to return £90m to shareholders
WHSmith reported a 2 per cent fall in like-for-like sales over the festive period and is to return 90 million to shareholders.
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Woolworths agrees £385 million refinancing
Woolworths has agreed a refinancing package, with new four-year loan facilities totalling 385 million.