All City & finance articles – Page 484
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NewsSir Richard Greenbury defends Marc Bolland’s M&S reward
Sir Richard Greenbury, ex-chairman and chief executive of Marks & Spencer, who led the retailer to profits of more than £1bn for the first time, has defended the reward package given to incoming boss Marc Bolland.
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NewsBlacks seeks funds to rejuvenate store portfolio
Blacks Leisure has taken another step in its turnaround plan with a proposal to raise £20.3m through a placing and open offer.
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NewsPeacock Group back on form, says Richard Kirk
Peacock Group chief executive Richard Kirk said the group is expected to report a return to form in the year to March 2010 with EBITDA of £80m.
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AnalysisBest Buy could do worse than buy into Australia
While on the face of it an acquisition seems far fetched, Best Buy purchasing a top five player in a buoyant market wouldn’t be the craziest move.
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News
Half of stores and staff under threat at Ethel Austin
The administrator to value fashion retailer Ethel Austin has earmarked half of its 270 stores for closure.
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NewsAnalyst opinion mixed as Ocado eyes spring flotation
Online grocer Ocado has moved a step closer to a potential IPO and is understood to be gearing up for a spring flotation.
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OpinionRetail surgery: I have recently received a letter from a different lender than the bank we agreed our loan with, stating that now I owe them money. How can that be?
I have recently received a letter from a different lender than the bank we agreed our loan with, stating that now I owe them money. How can that be?
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NewsJane Norman sales revive after ‘disappointing’ year
EBITDA fell to £15.8m in the year to March 28, 2009, down from £29.5m the year before, according to accounts filed at Companies House. Sales were flat at £148.8m but heavy markdowns following what it described as a “disappointing” reaction to ranges in the second half of the year led ...
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News
HobbyCraft top target on Halfords acquisition list
A raft of potential buyers are circling HobbyCraft, including cycling and motoring accessories specialist Halfords and private equity house Isis, ahead of a February 26 deadline for first-round bids.
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News
Matalan sale talks collapse as investors baulk at £1.5bn price
The sale of Matalan fell through on Wednesday after potential buyers failed to meet owner John Hargreaves’ price expectations.
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NewsRetailers compete for share of £1.6bn Valentine’s sales bonanza
Retailers are gunning for a £1.6bn pay day from Valentine’s Day sales this weekend, with grocers hoping cash-strapped lovers eat at home rather than go out to a restaurant.
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NewsABI may challenge Marc Bolland’s M&S pay package
Incoming M&S chief executive Marc Bolland is facing objections from the Association of British Insurers over his £14.8m pay package.
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NewsHalfords considers HobbyCraft bid
Halfords is mulling a bid for the arts and crafts retailer HobbyCraft, according to reports.
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NewsSales growth slows to 15-year low in January as snow hits trade
Bad weather brought sales growth on the high street to a 15-year low in January down 0.7% on a like-for-like basis.
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NewsOcado appoints advisers ahead of float
Online food retailer Ocado has appointed advisors for ahead of a float which could come as early as May, according to reports.
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NewsThe Book People agrees £15m asset-backed loan deal
Direct bookseller The Book People has secured a £15m asset-based loan facility from specialist lender Burdale to support current and future working capital requirements.
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NewsBlacks Leisure to raise £20.3m for recovery drive
Outdoors specialist Blacks Leisure has unveiled proposals to raise £20.3m through a share placing and open offer.
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NewsDebenhams’ Rob Templeman linked to bid for DFS
Debenhams chief executive Rob Templeman is said to be considering a tie-up with private equity firm Cinven to mount a £500m bid for furniture group DFS.
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OpinionA lot is riding on New Look
The sour taste left by disappointing retail IPOs of the past and jitters about how retail conditions will shape up this year mean there’s a lot riding on how New Look’s much-anticipated IPO fares.
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NewsPoor January sales drag down retailers
General retailers were hit in the wake of poor January sales data from the British Retail Consortium and wider market turbulence at the end of last week.