All City & finance articles – Page 433
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NewsSainsbury’s faces margin worries
Following last week’s annual results from Sainsbury’s, broker MF Global said it is concerned that the grocer’s operating margin is benefiting more from lower depreciation, lease and staff costs than productivity on higher sales growth.
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News
Ocado’s great expectations
Having risen as high as 290p over the last year, online grocer Ocado’s shares have slid down to 200p.
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NewsSuperGroup loses lustre despite growing sales
Fashion retailer SuperGroup spooked the market with signs of slowing growth at its retail division, though total sales continued to soar.
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NewsClinton suffers but store revamps encourage City
Clinton Cards’ like-for-likes dropped 3% in the 40 weeks to May 8, slightly worse than the 2.7% drop recorded in its first half.
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NewsFounding family trust sells 1.5m Sainsbury's shares
Members of Sainsbury’s founding family yesterday sold 1.5m of their shares in the grocer, netting almost £5.3m.
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NewsMoss Bros like-for-likes up 8.2%
Menswear retailer Moss Bros like-for-likes jumped 8.2% in the 15 weeks to May 14, despite being up against tough comparatives this time last year.
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NewsMothercare to close a quarter of its UK stores as profits slump
Mothercare is to close 110 UK stores and renegotiate rents on a further 40 stores in over the next two years.
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NewsTopps Tiles appoints non exec Michael Jack as chairman
Topps Tiles has appointed former MP and non executive director Michael Jack as chairman.
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NewsJJB appoints former Safeway director Lawrence Christensen to its board
JJB Sports has appointed former Safeway director Lawrence Christensen CBE as non-executive director.
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OpinionCheshire’s grinning
The demise of Focus, pancaked under a pile of debt, brings long-expected consolidation in the DIY sector and a big beneficiary will be Kingfisher.
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NewsBrokers urge caution as retailers beat the market
Store stocks strongly outperformed the All-share index as the latest BRC data showed a sales surge in April, when grocers and some general retailers benefited from sunny weather and bank holidays.
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NewsPotential acquisitions raise share price for WHSmith
Speculation that WHSmith is considering acquisitions prompted a share price rise, after boss Kate Swann toured the City to meet investors following better than expected interim results last month.
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NewsMorrisons' Pennycook gets £1.25m sweetener
Morrisons has gifted finance director Richard Pennycook £1.25m in shares to encourage him to stay at the grocer.
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NewsTesco appoints Barclays' Sir Richard Broadbent as chairman
Tesco has appointed Barclays deputy chairman Sir Richard Broadbent as chairman as David Reid stands down.
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NewsOcado first half EBITDA up as sales growth slows
Online grocer Ocado said it is “encouraged by the progress of the business so far this year” as it revealed that EBITDA is expected to grow 12% in its first half.
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NewsN Brown full year profits rise 5.5%
N Brown’s full-year pre-tax profit rose by 5.5% and the home shopping retailer said it will open bricks and mortar stores for its Simply Be brand this year.
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NewsHarvey Nichols owner eyes Aurum
Harvey Nichols owner Dickson Poon is eyeing a takeover of jewellery group Aurum, it has been reported.
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NewsHMV nears Canada sale but Waterstone's talks stall
Struggling entertainment retailer HMV is close to selling its Canadian arm but negotiations to sell its book chain Waterstone’s have stalled.
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NewsWickes grows market share as like-for-likes rise 1.9%
Wickes like-for-likes increased 1.9% in the 17 weeks to April 30.
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NewsJJB shareholder takes role on its board
The director of one of JJB’s largest shareholders has been appointed to the sportswear retailer’s board.