All City & finance articles – Page 447
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NewsGeneral retailers up but grocers subdued
Last week’s Super Thursday round of updates brought plenty of depressing news as big names such as Dixons and Halfords warned that profits would only make the low end of expectations.
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OpinionDixons down but not out
Now that most Christmas numbers are out, retail sector investors face a fundamental question: yes, the snow affected sales but were there deeper reasons for disappointing trading at particular companies?
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NewsPoor UK Christmas update prompts Tesco share drop
Tesco’s disappointing UK Christmas update resulted in a 4% drop in its share price last Thursday but the grocer insisted its performance was a blip because of the snow.
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NewsThe Conran Shop cashes in on pre-VAT rise spend
Upmarket retailer The Conran Shop has revealed a strong Christmas trading update as shoppers sought to beat the VAT increase.
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NewsSecond management buyout could save troubled British Bookshops and Stationers
Collapsed chain British Bookshops and Stationers could be revived under its existing management, which is understood to be attempting a second management buyout within a year.
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NewsHalfords insists slip in bike sales is temporary
Analysts have cut their forecasts on the back of Halfords’ worse-than-expected Christmas trading update.
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NewsBurberry’s sales rocket at retail and wholesale arms
Burberry’s sales soared 27% to £470m in the three months to December 31, when the upscale fashion group’s retail and wholesale arms both achieved double-digit growth.
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NewsAmazon agrees takeover of Lovefilm
Online giant Amazon has agreed the full acquisition of film rental specialist Lovefilm.
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NewsAsos sales up 59%
Fashion etailer Asos’ retail sales jumped 59% to £100m in the 3 months to December 31.
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NewsChange Capital among bidders for Bathstore
Change Capital, the private equity firm run by former Marks & Spencer boss Roger Holmes, is among those bidding for Bathstore.
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NewsTed Baker retail sales rise 7.6%
Fashion brand Ted Baker posted a 7.6% rise in retail sales over the crucial Christmas period and said pre-tax profit would be in line with expectations for the year to January 29.
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NewsJJB Sports shareholders expect profits to return
JJB Sports’ biggest shareholder expects the troubled retailer will return to the black this year.
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NewsDunelm down in the dumps while Topps Tiles impresses
Updates from home retailers Dunelm and Topps Tiles painted a contrasting picture of trading conditions in the sector.
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NewsShop Direct targets double-digit growth
Home shopping group Shop Direct is gunning for double-digit sales growth this year on the back of new brand launch Isme and expanded product lines across the group.
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NewsPeacocks delivers full-year profits increase as shoppers trade down
Peacocks Group, the fashion retail group that operates value chain Peacocks and mature womenswear business Bonmarche, said that EBITDA and sales rose across the group last year.
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NewsDebenhams warns of more price rises to come
Debenhams has flagged a double-digit price increase in outerwear for autumn 2011 and expects prices overall to increase by between 4% and 6% before VAT over the year.
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NewsInvestors still cold on the retail sector
General retailers and grocers were both left on the shelf by investors and the market was flat overall.
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NewsClinton to highlight value following slow Christmas
Clinton Cards is to emphasise its value credentials following a profit warning last week.
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NewsBrightHouse sees demand surge but stays cautious
Rent-to-own electricals and furniture retailer BrightHouse has revealed a strong Christmas but cautioned that current trading has been tougher. Like-for-likes increased 9.8% in the 13 weeks to December 31, 2010.
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News
M&Co’s sales weather the big freeze
Value retailer M&Co generated like-for-like growth over the eight weeks to Christmas Eve of 2.7% despite being “significantly” impacted by snow.