All City & finance articles – Page 289
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NewsMorrisons reveals 35% drop in first-half profits and plans to close stores
Supermarket giant Morrisons has revealed a 35% drop in pre-tax profits over its first half and plans to close 11 more stores, with up to 900 jobs under threat.
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NewsSports Direct faces down shareholder rebellion as directors backed at AGM
Sports Direct has weathered a rebellion by shareholders as all its senior directors were backed in a vote at today’s AGM.
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NewsThe Entertainer accelerates store roll-out as profits and sales surge
The Entertainer is upping its store expansion plans after full-year sales and profits rocketed in a gangbuster year for toys.
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VideoWatch: What are the reasons for the rise in food sales and will it last?
Senior analyst, European food retail at Bernstein, Bruno Monteyne discusses the findings from the BRC’s most recent retail sales report.
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AnalysisHow Conviviality Retail's £200m acquisition will shake up the drinks sector
Conviviality Retail’s acquisition of drinks distributor Matthew Clark has given it enormous buying power that could seriously disrupt the drinks retailing sector.
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NewsSports Direct maintains full-year guidance ahead of AGM showdown
Sports Direct has revealed its summer trading was “in line with expectations” and has maintained its revised full-year profits target.
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NewsLaura Ashley like-for-likes up 7% in first half but profits slip
Home and fashion retailer Laura Ashley has reported a slip in profits but a strong increase in like-for-likes in its first half.
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OpinionOpinion: Why pricing by spreadsheet is a risky business
All retailers, no matter their size, need the ability to quickly and efficiently manage and execute accurate prices to drive profit.
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NewsMike Ashley faces revolt from Sports Direct investor over his re-election
The re-election of Sports Direct founder Mike Ashley as the retailer’s executive deputy chairman will be voted against by Royal London Asset Management.
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NewsPrimark sales to jump 13% on back of aggressive store expansion
Primark expects sales to jump 13% for the year after a significant store expansion, while like-for-likes were impacted by the warm autumn.
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AnalysisIn the news: Departing Karen Millen chief executive Mike Shearwood
Qualified optician Mike Shearwood finds himself looking at retail through a new lens today, following his shock exit from the fashion specialist.
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NewsMulberry group finance director Roger Mather resigns
Mulberry group finance director Roger Mather has resigned after eight years with the luxury brand.
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NewsBeaverbrooks full-year sales boosted by luxury watch demand
Beaverbrooks has reported a return to the black, thanks to an upturn in demand for luxury watches and a continued revamp of its store estate.
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NewsCo-op swings to half-year profit but warns investment will hit full-year figures
The Co-operative Group has swung into the black after posting a pre-tax profit of £36m, driven by its core food convenience business.
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NewsMcColl's reveals 2.3% slip in Q3 like-for-likes in 'challenging' market
McColl’s has reported a 2.3% fall in third-quarter like-for-likes but its boss insists it was “solid progress” in what remains a tough market.
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NewsBooker Group gets CMA approval for £40m Londis, Budgens deal
Booker Group has been given the green light by regulators to complete its £40m acquisition of convenience retailers Londis and Budgens.
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NewsChristo Wiese claims value trend is 'here to stay' as Pep & Co launch successful
South African billionaire Christo Wiese believes consumers’ obsession with value is “here to stay” and the opportunity for up to 500 Pep & Co stores in the UK remains.
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NewsTesco 'chooses preferred bidder' for South Korean business as sale nears
Tesco is remaining tight-lipped on the future of its South Korean business despite reports that it has chosen a preferred bidder for the chain.
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NewsHalfords warns of falling cycling sales but remains confident on profits
Halfords has warned that cycling sales have plummeted in its second quarter to date, but bosses remain confident it will meet profit forecasts.
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AnalysisAnalysis: Original Factory Shop's quest to become the UK's best-loved retailer
The Original Factory Shop chief executive Tony Page has lofty ambitions for a retailer that he has dubbed a “well-kept secret”.