All City & finance articles – Page 454
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NewsBlacks like-for-likes plummet as turnaround plan is unveiled
Blacks like-for-likes plummeted 7.2% in its first half as new boss Julia Reynolds unveils her turnaround strategy.
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NewsMore bad news from Carpetright as sales continue to fall
Carpetright has announced a 5.2% fall in second quarter sales, and warned that full-year profits will come in at “the lower end of current expectations.”
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NewsRetail suffers as bad news hits confidence
The overall market was up but retail shares were down over the week, with a raft of bad news and concern about consumer confidence hitting the stores sector.
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AnalysisCarrefour sounds profit warning as sales slide
Last week, the world’s second largest retailer, France-based Carrefour issued its fourth profit warning saying it expected 2011 operating profit to fall by up to 20%, compared with 15% stated previously for its third profit warning in August.
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NewsKesa manoeuvres to keep ‘economic interest’ in Comet
Kesa could keep an economic interest in Comet, the embattled electricals chain it has put up for sale, under a proposal being discussed with private equity firm OpCapita.
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OpinionWHSmith pushes the envelope
WHSmith has never been the most exciting of retailers. In the last few years its City updates have followed the same reassuring yet predictable path – rising profits as further cost savings are found, and falling sales, particularly in its high street arm.
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NewsSharp sets out strategy as Debenhams records 10% profit increase
New Debenhams chief executive Michael Sharp has revealed his growth strategy for the department store, as he revealed full year pre-tax profit jumped 10% to £166.1m..
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NewsSports Direct profits jump 13.3% as sales grow
Sports Direct retail gross profit advanced 13.3% to £119m as sales thrive.
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NewsArgos continues to drag down Home Retail as profits slump
Argos has continued to drag down the performance of its parent Home Retail in the first half, as group pre-tax profit slumped 70% to £28m.
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OpinionComment: Ted Baker is no ordinary retailer
“Better product, better design. It’s that simple.” That was the explanation given by Ted Baker chief executive Ray Kelvin to analysts last week as he unveiled a 12.7% increase in first-half profits.
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NewsRising costs and promos take blame for dip in Clarks’ profits
Footwear retailer Clarks has blamed a poor performance in the UK for a steep fall in group profits in the first half to July 31.
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AnalysisMothercare in crisis: What do retailers need to know?
After a profits warning and the departure of chief executive Ben Gordon, where does the retailer go from here?
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OpinionThere is still a future for Mothercare in the UK
Brutal business, retail. For his first eight years at Mothercare, Ben Gordon could do no wrong.
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NewsMothercare suffers but retail improves
While retailers rose over the week, Mothercare’s shares went in the opposite direction as desperate trading in the UK claimed the scalp of chief executive Ben Gordon on Tuesday.
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NewsRecord travel performance helps WH Smith to higher profits
WH Smith’s profits rose 4% in the year to 31 August, helped by record profits from its travel division.
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AnalysisEmerging retailers: Still flying high?
Two years ago, 10 of the top emerging retailers gathered for a Retail Week photo shoot at the top of London’s Gherkin. Today, Charlotte Hardie revisits them to find out how they have fared amid the trials and tribulations of the continued downturn.
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NewsWickes Q3 like-for-likes down 2% as big ticket items suffer
DIY retailer Wickes like-for-likes slipped 0.5% in the 39 weeks to October 1, but worsened in the most recent 13 week period, falling 2%.
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NewsBurberry sales soar 30% in first half
Luxury fashion brand Burberry saw total revenue surge 30% to £830m in the six months to September 30.
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NewsMothercare chief executive Ben Gordon to exit
Mothercare chief executive Ben Gordon is to leave the struggling retailer by mutual consent with its board.
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OpinionComment: Are recessions as much about psychology as economics?
Show faith in the worth of your offer and it’ll rub off on consumers, says Simon Burke