All City & finance articles – Page 500
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NewsLakeland profits tumble in tough market
Lakeland, the kitchen and homewares specialist, famous for its innovative gadgets, suffered a profits fall last year as the shock of Lehman Brothers’ demise holed consumer sentiment.
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NewsKingfisher preview sparks upgrades
Kingfisher was scheduled to issue its interims as Retail Week went to press, but the headline numbers were already known following last week’s administrative slip-up.
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OpinionLehman’s ghost laid to rest?
Tuesday was the anniversary of Lehman’s collapse, which a year ago sent retail sales plunging within hours of its demise.
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NewsNext’s Simon Wolfson: sentiment won’t recover with economy
Next chief executive Simon Wolfson does not expect any fundamental return to improved consumer sentiment despite emerging signs of economic recovery.
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NewsZara goes online as Inditex profits decline
Fashion giant Inditex has suffered a profit drop of 8% to €375m (£330.6m) in the first half of the year as it revealed plans to launch its Zara brand online.
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NewsDebenhams update reveals steady year
Debenhams has delivered a robust full-year trading update and said profits are likely to come in ahead of last year’s.
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NewsFurniture Village profits hit by crunch
For the year to March 29, profit before interest and tax was £2.4m, down from £7.1m a year earlier, when the retailer recorded its best-ever profit. Total sales fell 9.4% from the previous year to £162m, and like-for-likes were down 12.4%.
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NewsLuke Johnson lambasts credit insurer ‘oligopoly’
Entrepreneur Luke Johnson has labelled credit insurers an “oligopoly”, citing their “en masse” withdrawal or reduction of coverage to the retail sector.
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NewsRetail rally halted by bout of profit taking
Store shares suffered a poor week, despite the reporting season getting off to an encouraging start.
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NewsMarc Bolland vows to maintain growth at Morrisons in tough second half
Morrisons chief executive Marc Bolland has vowed that the Yorkshire-based grocer will continue to increase sales ahead of the market, despite facing tougher comparatives in its second half.
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NewsSigns of improvement for big-ticket retailers
There were indications of improved prospects among hard-pressed big-ticket retailers as Home Retail Group and Kesa issued updates and Carpetright held its AGM.
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NewsDunelm to double openings in 2010 but remains cautious
Dunelm chief executive Will Adderley said the value homewares retailer intends to double store openings over the next year compared with last.
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NewsRepublic guns to break £200m sales barrier
Branded young-fashion retailer Republic wants to increase sales by a third this year to push past the £200m barrier.
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NewsFrench Connection posts loss
French Connection has revealed interim losses which forced it to close its Northern European retail division and make staff cuts to bolster profitability.
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NewsKingfisher profits climb
B&Q owner Kingfisher reported that measures to improve its UK and Ireland business were paying off after it reported a 35% rise in half-year profits.
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NewsNext raises annual earnings forecast
Fashion retailer Next has raised its annual earnings forecast after delivering a 6.9% rise in first-half pre-tax profit to £185.5m.
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NewsBest Buy profits slide in second quarter
US electricals giant Best Buy, which will open its first big-box stores in the UK next spring, has posted a 22% fall in profits for its second quarter.
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NewsDebenhams on track to hit profits despite sales fall
Debenhams has forecast a rise in annual profit despite store revamps impacting on the retailer’s sales.
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NewsDunelm sales recovery in the second half
Value homewares retailer Dunelm has reported pre-tax profit is up 6.8% to £52.5m in its full year results, helped by a strong sales recovery in the second half.
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NewsLosses widen for Adili
Losses for ethical etailer Adili, now trading as Ascensiononline.com, have widened to £1.9m in the year to April 30 from £1.58m the year before.