All City & finance articles – Page 446
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NewsOcado makes first quarterly profit as it bids to grow range
Online grocer Ocado has promised to focus on value, range and quality after it reported its first pre-tax profit of £300,000 in its fourth quarter.
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NewsAlexon takes a step in right direction
Womenswear group Alexon generated a big like-for-like sales rise over Christmas but brokers were split about the message on profitability.
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OpinionBolland spreads M&S’s wings
M&S boss Marc Bolland started to make his presence felt with last week’s rejig of the general merchandise senior management structure. The rationale for the changes was to create the right framework for delivery of M&S’s business plan.
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NewsCarpetright warns on profits as sales plunge
Carpetright has warned on profits as sales plunged in the UK and Ireland.
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NewsWHSmith sales slip over key period but margin improves
Bookseller and stationer WHSmith pleased analysts with improved margin despite a worse-than-expected sales decline during the peak period.
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NewsHamleys up for sale
Frozen food chain Iceland also up for sale as Landsbanki sells off assets as part of winding up process
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NewsDouble-dip fears hit general retail stocks
Retail stocks were hit as the economy went into reverse, renewing fears of a double-dip recession, and Bank of England governor Mervyn King warned of plunging living standards.
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NewsDirectors leave Comet in the wake of dire trading update
Two Comet directors are to exit the business and redundancy consultations have begun with other head office staff as the electricals specialist battles to recover after disastrous Christmas trading.
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NewsSnow takes edge off M and M’s Christmas
Sales at home shopping group M and M Direct jumped 15% in the six weeks to January 2, despite the loss of £2.5m of sales due to snow.
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NewsMulberry celebrates rocketing festive sales
Sales at luxury brand and retailer Mulberry soared over the festive period, showing consumer appetite for ‘It Bags’ is yet to be sated.
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NewsHomestyle profits drop 19% but Reid acquisition boosts turnover
Homestyle, the furniture retailer that operates chains including Harveys and Bensons for Beds, has revealed a 19% fall in profits in the year to June 26, while turnover increased.
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NewsPrimark records a 12% Christmas sales increase
Value fashion giant Primark shrugged off the effect of the snow before Christmas to record a 12% increase in sales, but warned that EBITDA margins will fall during the second half.
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NewsBeales narrows losses by a third
Beales, the independent department store chain, has reduced its full year losses for the third year running.
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NewsWH Smith AGM blow
WH Smith suffered a blow at its AGM yesterday when nearly a third of its shareholders who voted refused to back the remuneration report.
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OpinionBanks are on board – for now
The extent of new lending by the banks continues to preoccupy politicians but for some hard-pressed retailers existing borrowing is front of mind.
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NewsWH Smith like-for-likes fall 5%
WH Smith group like-for-likes dropped 5% in the 21 weeks to January 22.
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NewsOcado shares rise amid bid speculation
Online grocery giant Ocado’s shares have been driven higher than ever by a mixture of takeover and stake-building speculation.
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NewsHMV shareholder backs management
One of HMV’s largest shareholders has defended the management of the embattled entertainment retailer after a difficult month of profit warnings and reduction of credit insurance.
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AnalysisInterest rates
With inflation still surging ahead of the Bank of England’s 2% target, a predicted interest rate hike this year could pose a threat to retail
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NewsRestructuring specialist plots turnaround of HPJ Jewellers
Gordon Brothers understood to be negotiating rents on stores but has administrators on standby