All City & finance articles – Page 458
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NewsMint Velvet sales top £10m in first year
Womenswear chain Mint Velvet has notched up sales in excess of £10m in its first year of trading and “exceeded expectations”, said managing director Liz Houghton.
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NewsUnited Carpets reports "challenging" first half
United Carpets said trading has been “challenging” in the 25 weeks to September 30 as like-for-likes dropped 5.5%.
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NewsJJB Sports funding concern prompts big broker downgrade
Broker Singer has slashed its price target for JJB Sports by more than a third to just 8p because of concerns about the retailer’s funding and punishing trading conditions.
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NewsMoss Bros to axe staff as pre-tax losses widen
Menswear retailer Moss Bros is axing jobs as its pre-tax losses widened to £3.3m over the six months to July 31.
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NewsTopps Tiles full year sales up
Topps Tiles said it expects to report UK revenues up 2% to £182.4m in the 53 weeks to October 2.
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NewsWalmart to buy South African retailer Massmart, Asda’s Andy Bond to oversee
Walmart intends to push into Africa with the $4.2bn acquisition of general merchandise group Massmart.
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NewsTesco chief Sir Terry Leahy attacks investor short-termism
Tesco chief executive Sir Terry Leahy has criticised short-term investor attitudes and such shareholders’ superficial understanding of companies in which they hold stakes.
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NewsSolid updates ensure retail shares pick up
Store shares shifted off the shelf last week as a raft of decent updates - albeit with the usual caveats about prospects - left investors wondering whether retailers had been oversold.
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NewsInvestments eat into River Island’s profits
River Island grew its sales nearly 8% last year, but profits fell as the company invested in the business, and trading conditions so far this year have proved challenging.
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News
Fiscal cuts spell five-year spending ‘crisis’
The Government’s fiscal austerity programme will create a five-year “crisis” for UK retailers as consumers rein-in spending amid tax rises, wage stagnation and low levels of savings, according to a report that draws lessons from the recessionary experiences of overseas retailers in the 1990s.
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NewsLakeland doubles profits as it cuts costs and drives product innovation
Homewares retailer Lakeland, darling of the middle classes, has more than doubled its full-year profits after cutting costs and focusing on product innovation.
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OpinionQuestions of confidence
Consumer confidence has been one of retail’s big talking points all year - but what about retail confidence?
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NewsBestseller rules out bid for fashion etailer Asos
Danish retailer and investor Bestseller has ruled out bidding for online fashion specialist Asos.
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OpinionBrazil finally comes of age
The Goldman Sachs Conference in New York last week assembled a powerful line-up of more than 50 leading retailers.
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NewsSales climb for Zara-owner Inditex
Inditex, the Spanish fashion retailer that owns Zara and Massimo Dutti, grew half-year sales by 14% while making its debut in India.
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NewsFashion retailers more positive as sector lifts
General retailers held their own in the run-up to Wednesday’s results from fashion groups French Connection and Next, which both made bullish noises about performance.
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OpinionDon’t read the last rites yet
Store stocks are enveloped in as deep a gloom as the Addams family’s mansion. But retail shares are not zombie investments and it’s too early to call in the undertakers.
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NewsDebenhams profits will trump City expectations
Department store group Debenhams expects headline profit before tax and exceptional items to hit £150m in the year to August 28, ahead of market expectations.
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NewsHMV hopes Christmas will halt sales plunge
HMV anticipates a good Christmas despite like-for-likes at its eponymous entertainment chain plunging 14.9% in the first quarter.
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NewsSnow+Rock sets out plans to grow as management buyout team takes over
Snow+Rock managing director Dion Taylor has said he will open further stores following the management buyout of the company that was completed this week.