All Studio Retail articles – Page 6
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NewsFindel instigates review after losses reach £76.1m
Findel has instigated a full review of its business after losses widened for the group in what it described as a “challenging year”.
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Losses widen at Findel
Home shopping group Findel has increased losses to £76.1m in its full year to April 2, from £57.4m the year before.
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Retailers in favour despite hike in VAT
Retailers can live with the effects of Tuesday’s emergency Budget: that was the snap judgement of store chiefs and investors alike to the Chancellor’s announcement.
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Findel profits reduced after accounting errors found
Home shopping firm Findel has said its full-year profit will be reduced by £6.4m after it found accounting errors in its education division.
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Budget drives rise in stock held by short sellers
The proportion of some of the biggest retailers’ stock held by short sellers has risen on the back of uncertainty about the sector’s prospects ahead of next week’s emergency Budget.
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Uncertainty hits food and general retailers
The week in retail was dominated by the surprise announcement of Sir Terry Leahy’s plans to retire as chief executive of Tesco next March. Tesco shares fell more than 2% on Tuesday as the City digested the news, but analysts were happy with the appointment of Tesco veteran Phil Clarke ...
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Online retailer Kitbag trials first pop-up shop
Online sports retailer Kitbag makes its first foray into bricks and mortar today with a pop-up shop to celebrate this year’s football World Cup.
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Carphone Warehouse riding high on back of demerger
The launch of US electricals giant Best Buy in the UK grabbed the headlines this week, but it was also parent company Carphone Warehouse’s first trading update since its demerger last month.
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Findel profits to be below expectations
Home shopping group Findel has reported full year sales up 1% to £582m but said it pre-tax profits would be below expectations after a review of some of its accounting entries.
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Low inflation deals blow to grocers’ shares
The lowest food inflation in three years may make life more difficult for the big grocers, whose shares have been lagging their general merchandise counterparts.
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Findel chairman Keith Chapman steps down
Keith Chapman the chairman of home shopping group Findel has stepped down from his role at the business.
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Findel pre-tax losses to be higher after restatement
Home shopping group Findel is to restate results for the year to April 3, 2009, following a review of accounting entries within its education division.
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Findel mulls offloading home shopping brands
Findel is understood to be planning to divest two of its home shopping brands, Confetti and I Want One of Those.
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Findel debt reduction plan on track
Home shopping group Findel said its debt reduction plan is on track and pledged to restore sales growth to key operations as it updated on the 39 weeks to January 1.
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Findel like-for-likes slip 3%
Home shopping retailer Findel has reported like-for-like sales were down 3% for the 39 weeks to January 1.
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Findel focuses on debt reduction as profits sink
Home shopping and educational supplies specialist Findel suffered a sharp drop in operating profits and made an overall loss due to debt refinancing for the six months to October 3, as the retailer sought to stabilise the business.
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Findel reports first half loss
Home shopping group Findel has reported a loss for its first half but the retailer said it is confident its cost savings should help it to generate profit.
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Findel appoints new chief executive
Findel has today appointed a new chief executive, Philip Maudsley, and announced that current chief Patrick Jolly will leave the home shopping group.
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Findel focuses on costs as sales fall
Home shopping group Findel, which successfully raised £81m over the summer through a share placing and open offer, has posted a 5% fall in group like-for-like sales.
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Findel concentrates on further reducing debt
Home shopping group Findel has reported like-for-like sales down 5% for the first 23 weeks of its financial year as it continues to focus on cash generation to further reduce net debt.
