All City & finance articles – Page 499
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OpinionMind your own shop
There seems to be a general consensus now that while 2009 may have been slightly better than many retailers expected, 2010 might be a little more challenging.
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News
Retail suffers as gloom outweighs IPO hopes
General retail stocks headed south and underperformed the market, despite rising speculation that a raft of IPOs - including a £1.7bn flotation of fast fashion group New Look - looks likely in the new year.
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NewsWeak releases dampen Game profits but outlook is positive
Computer entertainment group Game posted a slump in first-half profits, but the plunge was in line with expectations.
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NewsFindel focuses on costs as sales fall
Home shopping group Findel, which successfully raised £81m over the summer through a share placing and open offer, has posted a 5% fall in group like-for-like sales.
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NewsRetail stock interest expected to continue
Stores rebounded after the recent bout of profit taking and outperformed the market, but food retail stocks remained mired ahead of results from Tesco and Sainsbury’s.
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NewsFrench Connection looks at strategy as losses grow
French Connection has launched a strategic review after interim losses surged to £12.8m from £5.4m.
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NewsYouth unemployment won’t hit JD, says boss
JD Sports Fashion chief executive Barry Bown said he was cautiously optimistic about prospects for the year ahead and shrugged off concerns that rising youth unemployment could slow growth.
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OpinionThe empire strikes back
Tesco publishes its first-half results a week on Tuesday. Sainsbury’s follows with its second-quarter numbers a day later. And this year the pair’s performance – even though not over comparable periods – will be even more of a needle match than usual.
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NewsUK set for another tough year, warns Boden chief executive
Boden chief executive Julian Granville said that he expects the UK market to remain tough next year, as likely future tax increases bite into consumers’ disposable income.
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OpinionA new age of reason
Visits in the past two weeks to the US and Australia have unearthed encouraging signs to counter the fears of a recessionary pandemic that abounded 12 months ago.
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NewsHome Bargains to double stores as it speeds to £1bn sales target
Value retailer Home Bargains plans to smash its £1bn revenue target two years earlier than expected, after reporting record sales and earnings in its full-year accounts.
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NewsIdeal Shopping Direct losses flat in first half
Ideal Shopping Direct, the home shopping group, reported a pre-tax loss for the half-year but said a strategic review had helped stabilise the business and move it closer to profitability.
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NewsCBI: UK economy to emerge from recession in Q3
The UK economy is expected to emerge from recession through modest growth in the third and fourth quarters of this year, but constraints on demand will mean that growth in 2010 is fragile, according the CBI.
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NewsTopps Tiles confirms profit outlook and sees signs of stability
Specialist retailer Topps Tiles expects to report operating profit of between £10.5m and £14m – the range of analysts’ expectations – when it delivers full year results in November.
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NewsGame profits suffer against last year's record performance
Entertainment retailer Game has posted a 67% fall in first half profits but said trading had returned to more “normal” levels after last year’s record-breaking software launches.
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NewsBlacks Leisure warns covenant breach likely
Blacks Leisure has warned that it is likely to breach a banking covenant following difficult trading at its boardwear division and has struck a standstill agreement with its bank.
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NewsShop Direct Group sales up 7.4%
Shop Direct Group reported group sales up 7.4% to £1.7bn for its financial year ending April 30, but is taking a cautious view of consumer debt in the year ahead.
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NewsFindel concentrates on further reducing debt
Home shopping group Findel has reported like-for-like sales down 5% for the first 23 weeks of its financial year as it continues to focus on cash generation to further reduce net debt.
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NewsSpar benefits as recession-hit consumers stay in
Spar’s like-for-likes increased 5.2% in the three months to July as consumers stay in more and indulge in treats.
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