All City & finance articles – Page 420
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News
JCPenney unveils plans to enhance financial position
Troubled department store group JCPenney has unveiled plans to enhance its financial position, having burned through $10m (£6.56m) in the fiscal year ended February 2, prompting liquidity concerns. As part of the process, the retailer has drawn $850m (£556.7m) from its $1.85bn (£1.21bn) committed revolving credit facility. Proceeds will fund ...
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OpinionComment: Next Boss Wolfson’s bonus decision has wider implications
Next boss Lord Wolfson’s decision to share a £2.4m bonus with staff was not only eye-catching, it caught the mood of the times too.
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OpinionComment: How the retail sector rates as an investment opportunity
Investor and author Robert Allen once asked: “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”
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News
Rewe Group to invest in small online companies
Rewe Group is to invest in small online companies to gain ground in ecommerce.“We want to establish sort of a business incubator for start-ups,” chief executive Alain Caparros told business title Wirtschafts Woche. He said that Rewe may have underestimated the dynamics of online operations.Rewe also wants to extend its ...
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NewsN Brown scales back catalogues as it benefits from online revolution
Home shopping group N Brown is scaling back catalogues as online sales soar.
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NewsAsos international boss Jon Kamaluddin to exit after nine years
Asos international director Jon Kamaluddin is to exit after nine years with the online retailer.
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NewsSports Direct profits soar due to 'resilient business model'
Sports Direct retail gross profit soared 22.7% to £104.8m in the nine weeks to March 31 as its business model proved resilient, according to chief executive Dave Forsey.
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NewsCarpetright eyes beds market share after Dreams contraction
Carpetright has said it is ready for the “fight” in beds after market leader Dreams axed a third of its portfolio last month.
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NewsCarpetright like-for-likes increase spurred by weather and refits
Carpetright has recorded a 5.6% rise in UK retail like-for-like sales in the fourth quarter as the cold weather and store refurbishment programme drew custom.
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NewsPrimark posts 7% rise in first-half like-for-likes as profits rise
Primark has reported a 7% rise in like-for-like sales in the first half while operating profits rose 55% to £238m from £154m in the same period last year.
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OpinionComment: SuperGroup lives up to its name with ambitious plans for growth
SuperGroup, owner of the Superdry fashion brand, has just announced plans to support future growth with a new 500,000 square feet distribution centre as part of the company’s next major phase of development.
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NewsVideo: Analysts debate Tesco’s US exit, UK store refresh and space race
Alex Lawson asks Panmure Gordon investment analyst Philip Dorgan and Verdict Research senior retail analyst Andrew Stevens whether Tesco is enacting the right strategy.
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NewsDebenhams blames snow for first-half profits fall
Department store group Debenhams’ pre-tax profits fell 5.4% to £120.3m in its half year as snowfall hampered sales in January.
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OpinionComment: Retail chief executives leave on good terms
Last week Kate Swann unveiled her final set of results as chief executive of WHSmith.
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News
JD Sports Fashion: What the analysts say
JD Sports Fashion’s profits were hit by losses from outdoor retailer Blacks, which it acquired last year, however the City seems positive about its the long term prospects.
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OpinionNick Bubb's Verdict: JD Sports - is Mike Ashley going to finish it off?
Having seen off his other great rival, JJB Sports, Mike Ashley has famously said that he wants to finish off JD Sports as well: so how’s he doing?
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AnalysisTesco results: What the analysts say
The headlines might not look great for Tesco after it revealed a drop in group trading profit of 13%, but analysts are pragmatic about the grocer’s performance.
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NewsBurberry like-for-like sales up 7% driven by strong China performance
Burberry like-for-like sales were up 7% in the six months to March 31, driven by strong performances in China and Hong Kong.
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AnalysisWHSmith’s acquisition of Past Times: What do retailers need to know?
WHSmith’s diversification continues with the acquisition of the Past Times brand. Will it be a good fit and what are the wider plans?
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NewsWHSmith: What the analysts say
WHSmith this morning reported a 5% uplift in pre-tax profit to £69m in the six months to February 28, despite a 5% slump in group like-for-like. Retail Week takes a look at the City reaction