All City & finance articles – Page 435
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NewsBRC calls for business rates to be frozen in 2013
The British Retail Consortium (BRC) is urging the Government to freeze business rates next year as retailers brace themselves for another crippling increase.
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OpinionComment: Light at end of tunnel for Argos
Structural issues are often blamed for Argos’ declining sales.
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NewsSports Direct shareholders reject Ashley bonus scheme
Sports Direct’s shareholders have not supported the proposed “super stretch” scheme which would have paid out a bumper bonus to Mike Ashley.
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NewsSports Direct sales surge as Olympics boosts sales
Sports Direct’s gross profit was up 20.4% to £211.1m in the 13 weeks to July 29 as the retailer “continues to go from strength to strength”.
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OpinionComment: Morrisons must reassure City
After the summer lull, the flow of trading statements begins again and the runes will be read ahead of the fast-approaching golden quarter.
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AnalysisMarks & Spencer: What the analysts say
Marks & Spencer unveils its new 148,000 sq ft Cheshire Oaks store today. The City welcomed new innovations in store but retained some reservations
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NewsConsumers want to bank with retailers, says poll
Consumers would rather bank with retailers such as John Lewis or Asda rather than the standard banking giants, according to a report by Uswitch.com.
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NewsJJB must submit survival plan within two weeks
JJB Sports’ management team has less than two weeks to finalise a restructuring plan.
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NewsShares in United Carpets suspended as it calculates store closure costs
Shares in United Carpets have been suspended as the retailer works out costs of multiple store closures.
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NewsErnest Jones drives strong Signet sales
H Samuel and Ernest Jones owner Signet has reported a 7.1% increase in like-for-like sales fuelled by a strong UK performance in the second quarter.
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NewsWHSmith expects full-year figures to be at top end of market expectations
WHSmith said it expects the outcome for the year to August 31 to “be at the top end of market expectations” in a pre-close trading statement today.
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NewsJD to dispose of Canterbury as it acquires OneTrueSaxon
JD Sports Fashion is to acquire the casual clothing brand OneTrueSaxon for £50,000 and has inked a deal to dispose of its rugby brand Canterbury to Pentland for £22.7m, three years after acquiring it.
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NewsCo-op profits tumble 16% in 'fiercely competitive food market'
The Co-operative Food’s underlying profit slumped 16% to £119m in the six months to June 30 amid “fierce” competition in the food sector and the “unrelenting consumer downturn”.
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OpinionComment: Competition hots up for Amazon
The launch of US bookseller Barnes & Noble’s Nook ereader in the UK this autumn will bring a welcome increase in competition in the ebooks market.
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OpinionNick Bubb's verdict: Asda - is PR more important than performance?
Most businesses would say that performance is more important than PR spin, but this afternoon the formidable Asda PR machine is in full flow after the Walmart Q2 sales figures were published in the US, as Asda is “never knowingly under-promoted”.
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AnalysisAnalysis: Is it RIP for JJB?
Another day, another story proclaiming the end is nigh for JJB Sports. Today it was the turn of JJB founder Dave Whelan to put his two pennies worth in, claiming the retailer’s future looked bleak.
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NewsJJB founder David Whelan raises concerns over retailer's survival
The founder of JJB Sports David Whelan said the future looks bleak for the struggling sports chain after US backer Dick’s Sporting Goods wrote off the value of its investment in the retailer yesterday.
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OpinionComment: Opportunity knocks at SuperGroup
Just as SuperGroup looked to be getting a stable management in place, the fashion retailer has suffered the sudden loss of its co-founder and chief executive for wholesale and international.
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NewsJJB shareholder Dick's writes off investment
JJB Sports shareholder Dick’s Sporting Goods has written off the value of its investment in the retailer just five months after injecting £20m into the struggling chain.
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NewsOcado insists it will not breach banking covenants
Ocado has defended itself against speculation it could breach its banking covenants and has emphasised it is able to fund its second distribution centre.