All City & finance articles – Page 510
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NewsRay Kelvin upbeat as Ted Baker sales surprise
Ted Baker chief executive and founder Ray Kelvin remains confident that shoppers are still spending despite being in the middle of a deep recession.
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NewsDeals struck on 210 Birthdays stores but 800 jobs to go
Birthdays’ administrator Zolfo Cooper has accepted two offers for a total of 210 stores. The deals safeguard 1350 jobs but 800 will go as the remaining 132 shops will shut.
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NewsTesco bond sale raises £430m
Grocery group Tesco has raised £430m through the sale of commercial mortgage-backed securities (CMBS).
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NewsOcado could float in 2010
Online grocery retailer Ocado could bag an estimated £600m next year if a float that is being considered were to go ahead, according to The Times.
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NewsSainsbury’s raises £445m to fund growth
Sainsbury’s is to raise £445m to fund an accelerated growth drive and deliver an extra 2.5 million sq ft of trading space by March 2011.
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NewsKesa to sell Swiss business
Kesa has entered exclusive talks with Swiss electricals retailer FUST to sell its Swiss operation for CHF20m (£11.4m).
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NewsGame trading in line with expectations
Game Group has said that trading since February has remained in line with expectations.
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NewsTed Baker sales lifted by strong UK performance
Ted Baker has reported a surge of 15.2 per cent in retail sales for the 19 weeks to June 13 and said its gross margins have so far been in line with expectations.
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NewsMatalan defies retail gloom
Matalan has revealed that like-for-likes rocketed 8.2 per cent in the 14 weeks to June 6 after posting robust full-year results.
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NewsHot weather holds back John Lewis but helps Waitrose
Hot weather in the early part of last week held back John Lewis’s sales, but helped Waitrose to a strong week.
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NewsHamleys makes a loss of £2.7m
Iconic toy retailer Hamleys made a loss of £2.7m in the year to March 31, 2008 as its annual interest bill increased.
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NewsDavid Ross raises £38m from Carphone Warehouse share sale
Former Carphone Warehouse director David Ross, who stood down as deputy chairman last December, has sold 24 million shares in the retailer – about 15 per cent of his stake.
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NewsWoolworths dispute taken to High Court
Woolworths’ administrator Deloitte and BBC Worldwide are expected to face each other in court today over the value of the latter’s joint venture with the defunct variety store group.
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Steamer profits lift as it defies dire market
Kitchenware retailer Steamer Trading Cookshop has defied dire trading conditions to reveal a lift in full-year profits.
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NewsDebenhams drives down debts with share placing
Debenhams has raised £323m by placing new shares in a bid to slash its £972m debt pile.
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OpinionTesco still a dab hand
After Morrisons’ first-quarter update last week, Tesco and Sainsbury’s post their numbers on Tuesday and Wednesday respectively and they should make for compelling reading.
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News
Aggressive Ackman falls flat after failed Target coup
The latest boardroom battle that William Ackman, head of US hedge fund Pershing Square Capital Management, has waged has ended in tears – literally, according to US reports.
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NewsQS owner resolves to make profit despite losses of £21m last year
The owner of QS has vowed to make the value fashion retailer profitable this year despite recording a £21.4m pre-tax loss last year.
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NewsNet-A-Porter profits leap 234 per cent
Online retailer Net-A-Porter has seen profits increase by 234 per cent, from £3.0m to £10.1 in the year to January 2009.
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NewsDirectors take home less at Sainsbury's
Sainsbury’s chief executive Justin King’s total remuneration fell 6 per cent last year.