All City & finance articles – Page 423
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NewsKingfisher first half profits soar
DIY giant Kingfisher group adjusted pretax profit soared 24% to £439m in the 26 weeks to July 30, with two thirds of profits coming from outside the UK.
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NewsDunelm profits up 9%
Dunelm has reported pre-tax profit up 9% to £83.6m in its full year results despite the challenging consumer backdrop.
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OpinionNewness is the talk of New York
Goldman Sachs’ 18th Annual Global Retailing Conference in New York last week was held against a sombre backdrop of US economic indicators: consumer confidence lowering to near recession levels; disposable incomes and unemployment both stagnating; and a stock market in decline for the fourth consecutive month.
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NewsPrimark operating margins to be hit by high street discounting
Primark’s operating margin is expected to be hit slightly in its full year results after a higher level of discounting than is normal on the UK high street towards the end of the summer.
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NewsBoden profits surge 13% in 2010
Home shopping giant Boden like-for-likes grew 5% in first half of the year as it reports a profit surge in 2010.
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NewsAlexon calls in KPMG to advise on restructuring options
Alexon Group has appointed KPMG to advise on its restructuring options.
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OpinionKingfisher turns the page
The collapses of furniture retailers such as Floors2Go in the last month served to show that the furniture and home sectors are in a run-down state – a verdict reinforced by the BRC retail sales data this week.
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NewsInvestor worry grows as trading stays tough
Grocers, led by Tesco, bucked a gloomy market, but it was a poor week for general retailers as investors continued to wring their hands about general prospects, not helped when fashion group Alexon warned on profits.
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NewsDirectors incentivised to turn round JJB’s fortunes
JJB directors are to be incentivised with a reward scheme that would result in them winning as much as £73.5m in shares if they succeed in turning around the fortunes of the sports retailer.
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NewsDebenhams’ profit forecast slashed
Debenhams’ new chief executive Michael Sharp, who took over on Monday, would have hoped for a better City start to his tenure.
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NewsSuperGroup flagship to help brand expand product range
Superdry’s new Regent Street flagship store will allow the SuperGroup-owned brand to expand its product range, including a move into formalwear, according to chief executive Julian Dunkerton.
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NewsGrim outlook for Alexon after profit warning
Brokers warned of an increasingly difficult outlook for fashion group Alexon after the retailer issued another profit warning.
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NewsSports Direct shareholders vote in favour of controversial Ashley property deal
Sports Direct shareholders have voted in favour of a controversial deal which will see founder, and majority shareholder, Mike Ashley receive £86.8m from the company for 32 properties which he owns.
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NewsLaura Ashley half year profits soar 28%
Laura Ashley half year profits surged 28% making the retailer confident about prospects despite the punishing trading environment.
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NewsMorrisons profits up 8%
Morrisons has reported an 8% rise in underlying profit in its interim results to £442m but warned the trading environment would continue to be challenging.
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NewsB&Q hires from within as it makes two board appointments
B&Q has made two board appointments as director of store operations Damian McGloughlin is promoted to operations director and trade director Ian Herrett moves into the newly-created role of business development manager.
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NewsDoubts emerge over Comet sale
The sale of electricals retailer Comet looks increasingly unlikely to go ahead as it understood the two remaining potential bidders are seeking a dowry in the region of £150m-£200m.
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NewsSports Direct profits dip
Sports Direct gross profits suffered a dip after sales remained flat.
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NewsSuperGroup sales continue to soar
SuperGroup sales soared 66% to £54m in its first quarter in the three months to July 31.
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NewsRetail analyst Tony Shiret to join RBS
Tony Shiret, one of retail’s highly regarded analysts and a vocal critic of Marks & Spencer under Sir Stuart Rose, is to take up a new role at Royal Bank of Scotland.