All City & finance articles – Page 423
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NewsThe Hut Group appoints Richard Pennycook as chairman
Online retail business The Hut Group has appointed outgoing Morrisons group finance director Richard Pennycook as its chairman as it prepares to float on the Stock Exchange.
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NewsPawnbroker H&T full-year profits plunge as gold margins squeezed
Pawnbroker H&T Group full-year pre-tax profits plunged 27.7% to £17m due to “competitive gold margins” and store expansion costs.
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News
Printemps owner, Borletti Group enters talks with Qatari Holdings
The owner of the French department store group Printemps, Italy’s Borletti Group, has entered exclusive talks with Qatar’s sovereign wealth fund, Qatari Holdings (owner of Harrods in the UK) to discuss a takeover.However, last week the tussle for Printemps took a new turn. France’s largest department store group, Galeries Lafayette, ...
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OpinionComment: Debenhams' problems amount to more than just snow
With its surprise update this morning, on January like-for-likes falling around 10%, Debenhams won the unwanted distinction of being the first retailer of the year to complain about the snow.
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AnalysisDebenhams boss Michael Sharp: profit warning 'does not diminish long term growth prospects'
Department store Debenhams chief executive Michael Sharp insisted today’s shock profit warning was due to a “one-off issue” caused by January’s snowfall, the impact of which will be felt across the high street. Retail Week speaks to Sharp.
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AnalysisDebenhams' profit warning: What the analysts say
Debenhams today issued a first half profit warning as it blamed the snow for impacting sales. Retail Week takes a look at what the analysts say.
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NewsTreasury considers business rates rethink as pressure from retailers grows
The Treasury is studying ways to reduce the burden of business rates as the Government comes under pressure from retailers ahead of this month’s Budget.
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NewsAgricultural retailer Countrywide breaks into first half profit
Agricultural retailer Countrywide has broken into first half profit after investing in lowering prices and improving stores.
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OpinionComment: Philip Clarke: leading the charge
Tesco Group Chief Executive Philip Clarke was in the headlines again this week after making a rousing speech at the National Farmers Union (NFU) Conference regarding the nation’s on-going ‘horsegate’ scandal.
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NewsSports Direct founder Mike Ashley sells £100m of shares
Sports Direct founder Mike Ashley has sold £100m worth of shares in the retailer cutting his stake down to 64.4%.
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NewsUnited Carpets' share suspension lifted after administration
United Carpets Group has relisted its shares after a controversial pre-pack administration in which the company acquired its assets back from the administrators.
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NewsPrimark rules out retail park expansion despite debut success
Primark finance boss John Bason has ruled out widespread expansion in retail parks despite the success of its Milton Keynes debut.
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NewsConvenience retailer Nisa secures £100m of funding from Barclays
Convenience store retailer Nisa has secured £100m of refinancing from Barclays as the grocer’s sales continue to surge.
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AnalysisThorntons boss Jonathan Hart on its turnaround, marketing and international
Thorntons chief executive Jonathan Hart updates Retail Week on the chocolatier’s turnaround progress after this morning reporting a 2.9% increase in first half sales.
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NewsThorntons first half profits increase as turnaround gains pace
Chocolatier Thorntons first half pre-tax profits before exceptionals jumped £2.2m to £5.3m as sales edged up 2.9% to £133.7m.
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NewsPrimark reports "outstanding" first half as like-for-likes soar 7%
Value fashion retailer Primark’s like-for-likes are expected to soar 7% in its first half to March 2 thanks to weak comparatives and “good trading” over Christmas.
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OpinionComment: Morrisons will bring more than just convenience to its stores
Morrisons has never been shy about making bold, strategic moves. When it acquired Kiddicare, it seemed like a slightly curious acquisition.
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AnalysisKingfisher fourth quarter: What the analysts say
Kingfisher group like-for-likes dipped 3.4% in its fourth quarter, with UK and Ireland like-for-likes dropping 5.8% and France down 2.4%. Retail Week takes a look at the analyst reaction
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NewsKingfisher UK and Ireland fourth quarter like-for-likes fall 5.8%
Kingfisher UK and Ireland like-for-likes dropped 5.8% over its fourth quarter as it was hit by poor weather and weak consumer confidence.
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NewsSports Direct certain of hitting £270m EBITDA target as sales soar
Sports Direct is certain of hitting its full year £270m EBITDA target as group sales soared 21.1% to £589.5m in its last quarter.