All City & finance articles – Page 401
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OpinionComment: Moss Bros set for growth
The Olympics effect on retail has been felt in some unexpected ways. At Moss Bros, the Games – along with the Jubilee celebrations and the Euro 2012 tournament – led to the deferral of weddings and an impact on its hire business in the first half.
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NewsSports Direct closes in on JJB Sports deal despite Adidas obstacle
Unwanted JJB Sports stores are likely to face rapid closure if, as expected, likely buyer Sports Direct snaps up the retailer’s prime stores and stock.
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NewsTopps Tiles to hit profit target after strong fourth quarter
Topps Tiles has forecast pre-tax profit will hit analysts’ consensus of £13.1m, while full-year like-for-like sales are likely to slip by 1%.
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NewsSpeculation mounts over Qatari interest in Sainsbury's
Speculation is mounting that Qatari investors are eyeing a bigger stake in Sainsbury’s.
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AnalysisData: Retail sales growth half pre-Lehman levels
The BRC said today that retail sales growth has slowed to half that achieved before the collapse of Lehman Brothers which signalled the start of the recession in 2008.
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NewsJJB Sports to appoint administrator but sale expected in "next few days"
JJB Sports intends to appoint KPMG as adminstrator and a pre-pack deal is expected in the “next few days”.
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OpinionNick Bubb's Verdict: HMV expects Christmas sales pick-up. Is this credible?
The new senior management team at HMV have only been in place for a couple of weeks, but already they are blaming poor recent trading on “a lack of new releases”…and predicting a strong pick-up at Christmas. Is this credible?
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AnalysisHMV: What the analysts say
HMV reported an 11.6% slump in like-for-likes in the 20 weeks to September 15 today attributed to a slow sumer release schedule. The City reacted negatively to the news.
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NewsSuperGroup shareholders rebel against boss Julian Dunkerton
Almost one in five shareholders of fashion retailer SuperGroup opposed the re-election of management and pay proposals at the company’s annual meeting on Thursday.
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NewsHMV like-for-likes slump 11.6% after poor summer release schedule
Entertainment retailer HMV suffered a like-for-like sales slump of 11.6% in the 20 weeks to September 15 but remains confident it will benefit from a strong release schedule in the run-up to Christmas.
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NewsKPMG promotes David McCorquodale to head of retail
Accountancy firm KPMG has promoted David McCorquodale to UK head of retail to replace Helen Dickinson, who is leaving to join the British Retail Consortium.
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OpinionComment: Hamleys deal opens the door to overseas growth
This week’s acquisition of Hamleys, which famously describes itself as the “finest toy shop in the world”, paves the way for the retailer to test that claim on a truly global scale.
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NewsMoss Bros like-for-likes up 5.7% as profits stabilise
Like-for-like sales at Moss Bros rose 5.7% in the first half of the year while pre-tax profit remained stable.
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NewsOcado third-quarter sales up 10%
Sales at Ocado grew 9.9% year on year to £162.6m in the third quarter as the rate of sales growth slowed, as the online grocer battled the negative impact of the Olympics.
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NewsRiver Island takes profit hit to keep prices sharp
River Island pre-tax profits tumbled 25% to £86.9m last year as the fashion retailer absorbed higher costs, rather than pass them on to consumers, and invested in the business.
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OpinionComment: Uphill slog to get Blacks in shape
The 80% plunge in first-half profits at JD Sports, mainly attributable to recently acquired outdoor specialist Blacks, looks pretty awful at face value.
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AnalysisAnalysis: Lessons from the September reporting season
A raft of retailers ranging from John Lewis to Argos and spanning food to homewares updated last week. Retail Week examines the picture they paint of retail conditions.
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NewsFrench Connection turnaround plan to take two years
French Connection expects to break even by the end of its financial year 2014/ 2015 after this morning revealing a series of measures aimed at turning the struggling business around.
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OpinionNick Bubb's verdict: Asos - a super online story
The old adage of caveat emptor (“let the buyer beware”) sprang immediately to mind when the Bestseller Group began to aggressively build a stake in Asos just over two years ago.
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NewsEuan Sutherland joins Kingfisher board
Kingfisher chief operating officer Euan Sutherland has joined the retailer’s board.