Latest finance news – Page 678
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NewsSainsbury’s store managers stand to clean up in Delta Two deal
Sainsbury’s fears an exodus of store managers if it is taken private by the Qatari-backed investment fund Delta Two.
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John Lewis and Waitrose sales still climbing
Own-brand womenswear, furnishings and electronics all strong at department store chain
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Auchan invests in Portugal as rival sells hypermarkets
Auchan is to plough €600 million ( 414 million) into its Portuguese retail arm amid speculation that it could acquire hypermarkets from rival Carrefour. The French food and general merchandise retailer is set to inject the cash over the next three years as part of a drive to expand its ...
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Debt crunch may sting profits, analysts warn
Brokers warned that the ongoing corporate lending crisis could take a slice of retailers’ profits if debt market turmoil continues. As the Bank of England stepped in to keep Northern Rock bank afloat, analysts tried to gauge the impact of tightening credit terms on the finances of store groups. Kaupthing ...
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Debenhams: the city view
There were sighs of relief in the Square Mile when Debenhams’ 52-week update brought no nasty surprises. Although like-for-likes fell 5 per cent and gross margin was down, profit forecasts will be met. Chief executive Rob Templeman flagged a more challenging retail environment, but said: “We believe the actions we ...
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City fears Northern Rock fiasco will erode consumer confidence
Cold weather will be better news for fashion retailers that suffered during the wet summer, but fears mounted that the consumer climate may turn truly arctic. The Northern Rock crisis could be the catalyst for shoppers to snap their purses shut. That fear was reflected in the general retail sector’s ...
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Inditex sales jump 19 per cent
New stores and a growing international presence helps push Inditex sales up to €4.12 billion
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Challenges ahead as Virgin becomes Zavvi
Virgin Megastores managing director Simon Douglas has admitted that rebranding Virgin Megastores to Zavvi will pose challenges for the retailer. This week, Virgin Megastores was sold as part of a management buy-out led by managing director Simon Douglas and finance director Steve Peckham. Douglas conceded that the Virgin name has ...