All City & finance articles – Page 457
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OpinionKingfisher turns the page
The collapses of furniture retailers such as Floors2Go in the last month served to show that the furniture and home sectors are in a run-down state – a verdict reinforced by the BRC retail sales data this week.
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NewsSports Direct shareholders vote in favour of controversial Ashley property deal
Sports Direct shareholders have voted in favour of a controversial deal which will see founder, and majority shareholder, Mike Ashley receive £86.8m from the company for 32 properties which he owns.
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NewsLaura Ashley half year profits soar 28%
Laura Ashley half year profits surged 28% making the retailer confident about prospects despite the punishing trading environment.
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NewsMorrisons profits up 8%
Morrisons has reported an 8% rise in underlying profit in its interim results to £442m but warned the trading environment would continue to be challenging.
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NewsB&Q hires from within as it makes two board appointments
B&Q has made two board appointments as director of store operations Damian McGloughlin is promoted to operations director and trade director Ian Herrett moves into the newly-created role of business development manager.
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NewsDoubts emerge over Comet sale
The sale of electricals retailer Comet looks increasingly unlikely to go ahead as it understood the two remaining potential bidders are seeking a dowry in the region of £150m-£200m.
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NewsSports Direct profits dip
Sports Direct gross profits suffered a dip after sales remained flat.
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NewsSuperGroup sales continue to soar
SuperGroup sales soared 66% to £54m in its first quarter in the three months to July 31.
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NewsRetail analyst Tony Shiret to join RBS
Tony Shiret, one of retail’s highly regarded analysts and a vocal critic of Marks & Spencer under Sir Stuart Rose, is to take up a new role at Royal Bank of Scotland.
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NewsJJB directors to be rewarded on turnaround success
JJB directors are to be incentivised with a reward scheme if they succeed in turning around the fortunes of the ailing sports retailer.
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NewsAlexon Group in takeover talks as it issues profits warning
Alexon Group is considering possible takeovers of the company as it issues a profits warning.
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News
Comet sale decision looms as Kesa prepares for AGM
Kesa chiefs are expected to decide within a few days whether to proceed with a sale of electricals retailer Comet, following the submission of second-round bids today.
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NewsBig names suffer amid tough trading concerns
Shop stocks were out of favour in the wake of a profit warning from Topps Tiles, with bearish notes on some of the sector’s biggest names and general heebie-jeebies about trading.
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News
Analysts confident the only way is up for retail shares
Analysts believe store stocks are unlikely to crash further, despite big-name retail shares plunging last week, when specialist Topps Tiles also issued a profit warning.
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Opinion
Time to make a judgement call
Two of the retailers most mauled by the bears update next week, electricals group Dixons and Argos owner Home Retail.
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NewsMorrisons downgraded despite outperforming
Broker Oriel has downgraded Morrisons ahead of the grocer’s interims next Thursday.
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OpinionThe dark before the dawn
Retail Week gave its edition of August 12 the strapline ‘Retail’s Darkest Week’. This may turn out to be not too much of an exaggeration, but because of more than riots.
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NewsPIRC advises Sports Direct shareholders to block Mike Ashley deal
Sports Direct shareholders have been urged to oppose an £86.6m property acquisition from founder Mike Ashley by shareholder representative group PIRC.
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NewsWHSmith launches £50m share buy-back programme
WHSmith is to run another £50m share buy-back scheme this financial year following the success of last year’s programme.
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NewsOcado urged to shelve plans for second fulfilment centre
Online grocer Ocado should abandon plans for a £210m second customer fulfilment centre until it proves that it has a viable business from its first, according to a leading broker.