All City & finance articles – Page 439
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NewsHigher income shoppers will keep spending
Marks & Spencer, Kingfisher and Dixons will benefit this year from their older, higher income customer bases, according to broker Espirito Santo.
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NewsFormer Tesco director joins Ocado to head non-food
Ocado has poached a Tesco director to lead its new general merchandise team as it drives to diversify its offer.
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NewsSainsbury’s King warns slump in consumer confidence will persist
Sainsbury’s chief executive Justin King has signalled that consumer sentiment has collapsed since the beginning of the year and shows no signs of improvement.
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OpinionSmall stores are big business
The race for grocery space looks likely to be played out in the convenience sector in the next few years.
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NewsStore share prices hold up as updates begin
Food giant Sainsbury’s was among a raft of big names to report over the week, when general retailers held their own against the market.
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NewsCity awaits ‘key update’ from Asos
Etailer Asos’s next update, covering the fourth quarter and expected to be issued in mid-April, will be eagerly devoured by investors.
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NewsBank lines up cash injection for All Saints
Icelandic bank Kaupthing was on standby to provide emergency funding to fashion group All Saints as Retail Week went to press.
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NewsJJB granted second shot at survival after CVA agreed
JJB Sports has been given the green light for a company voluntary arrangement (CVA) by creditors and shareholders in order to stave off administration.
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NewsNext posts profit rise and warns that retail landscape has been transformed
Fashion giant Next has reported record profits but warned that the retail landscape has fundamentally changed.
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NewsSainsbury's Q4 like-for-likes up 1%
Sainsbury’s fourth quarter like-for-like sales grew 1% excluding fuel in the 10 weeks to March 19.
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News
Regional electricals chain bought out of administration
Norfolk-based electrical retail chain Bennetts has been bought by Lowestoft-based Hughes Electrical after it collapsed into administration earlier this month.
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NewsHMV shares rise as boss Simon Fox remains upbeat
HMV shares surged yesterday after chief executive Simon Fox remained upbeat on the entertainment retailer’s future.
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NewsPhones4U sold to private equity firm BC Partners
Private equity house BC Partners has bought mobiles specialist Phones4U for an undisclosed sum from Providence Equity.
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OpinionNew Malden turns to New York
Morrisons’ acquisition of a stake in New York online grocer FreshDirect came as a bolt from the blue.
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NewsStore revamps at heart of JJB’s recovery plans
JJB Sports chief executive Keith Jones is confident that its new business plan can revive the ailing sportswear retailer, despite like-for-likes slumping 13.5% from January 24 to March 13.
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NewsMorrisons pushes online with stake in US etailer FreshDirect
Morrisons is expecting to circumnavigate the pain of setting up an online food operation with the lessons it will learn from buying a 10% stake in US etailer FreshDirect.
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NewsMarkets are shaken by Japanese disaster
The earthquake in Japan shook the stock markets worldwide as investors assessed what the costs, commercial as well as human, might be.
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NewsDebenhams on track for profit growth
Department store group Debenhams assured the City that interim profits would meet consensus and be ahead of last year.
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NewsFrench Connection to up sales densities
French Connection has vowed to drive sales densities in stores after its UK and European retail arm slipped into the red.
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NewsPoor weather conditions hit Flying Brands’ profit
Multichannel retailer Flying Brands reported a fall in full-year group pre-tax profit as poor weather hampered its core gardening and flowers business during crucial trading periods.