All City & finance articles – Page 476
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NewsDobbies reports record sales at £104m
Tesco-owned garden centre retailer Dobbies recorded a 6.2% increase in like-for-like sales in the year to February.
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NewsGame’s two most senior executives exit
Game’s two most senior executives, including chief executive Lisa Morgan, have stepped down from the business as it revealed sharp falls in full year profits and turnover, and announced plans to close more than 100 stores.
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NewsBurberry expects record profits as UK outperforms
Burberry said its full-year profits will be “at record levels” following a stronger than anticipated end to the year.
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NewsFlying Brands’ garden division suffers from bad weather
Flying Brands’ garden division has been behind expectations due to bad weather with sales of bedding plants during spring.
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NewsPrimark sales and profits soar
Primark grew sales 19% to £1.26bn and profits 18% to £144m in the 24 weeks to 27 February.
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NewsAsos revenue up 35% as international sales surge
Online fashion retailer Asos achieved a 35% uplift in revenue to £223m in the year to March 31 with full-year pre-tax profits expected to be in line with forecasts.
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NewsSimon Wolfson doubles pay after £1m bonus
Next chief executive Simon Wolfson almost doubled his pay last year after receiving a £1m performance bonus.
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OpinionThe value of self-help
Self-help is the order of the day among retailers. The phrase has consistently peppered store chiefs’ City updates and analysts have compiled buy lists based on retailers’ capacity for self-help.
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AnalysisJapanese department stores’ decline continues
This month, Japanese department store operators Takashimaya and H2O Retailing Corporation scrapped plans to merge their operations by 2011.
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NewsDream profits and sales for bed market leader
Bed retailer Dreams has bucked the downturn to achieve pre-tax operating profits up 36% to a record £18.4m last year as it drove costs down and benefited from economies of scale.
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NewsFaith on brink of sale as John Kinnaird battles for MBO
The outcome of the sale process for Faith was due to be announced as Retail Week went to press.
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NewsCargo profits rocket after drive to cut costs
Furniture retailer Cargo - which operates the Cargo and Homestyle fascias - more than tripled its pre-tax profits in the year to June 27, 2009, as it slashed costs and benefited from the buying power of its parent, Steinhoff.
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NewsJD Sports profit rockets 61%
JD Sports Fashion pre-tax profit surged 61% to £61.4m in the year to January 30.
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NewsMorrisons claim shareholders blocked a competitive pay package for Marc Bolland
Morrisons has claimed shareholders blocked plans to increase pay awards for its former boss Marc Bolland who was poached by M&S to take over as its chief executive.
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OpinionCan private equity only sell to its own?
Simon Laffin Independent retail adviser and non-executive director
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NewsPoor weather prompts mixed Easter trading
Poor weather conditions dampened retailers’ sales during the early part of the crucial Easter trading weekend but there were also some welcome bright spots over the four-day break.
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NewsConcerns over Topps Tiles forecasts spark downgrades
A worse than expected update from Topps Tiles led to widespread downgrades to profit forecasts as analysts voiced concern over dampened appetite for home and big-ticket purchases.
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NewsCity unfazed by Mothercare like-for-like knock
Mothercare suffered its first quarter of negative like-for-likes in three years after the cold snap hit sales.
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NewsLow inflation deals blow to grocers’ shares
The lowest food inflation in three years may make life more difficult for the big grocers, whose shares have been lagging their general merchandise counterparts.
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OpinionBad news for grocers’ shares
Food retailers’ shares have been dull for a while, left on the shelf by investors seeking value among general retailers and in other sectors.