All City & finance articles – Page 525
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News
Sports Direct defies downturn with profit rise
Sports Direct has credited a “back to basics” strategy with a rise in first-half profits and said it will meet full-year profit forecasts.
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News
Pre-Christmas discounting hits record level
Retailers' pre-Christmas discounting has reached record levels and even deeper reductions are expected as store groups desperately clear stock.
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News
Best Buy announces redundancy plans as profits slump
US electricals giant Best Buy is offering voluntary redundancy to its 4,000 head office staff and will halve capex after profits slumped and sales fell in its third quarter.
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News
Inflation falls to 4.1 per cent
Inflation fell to 4.1 per cent in November from 4.5 per cent in October, the Consumer Prices Index showed.
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News
Carpetright profits plummet
Carpetright has issued a profit warning for the full year as it recorded a sharp fall in underlying first-half pre-tax profit of 67.6 per cent to 8.8 million in the 26 weeks to November 1.
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Opinion
Westfield holding its own
Back in Westfield, probably for the last time this year, the retail thrill-seekers are gone and in their place are shoppers and a lot of hungry people.
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News
Christmas spending intentions fall again
The amount shoppers intend to spend this Christmas has fallen again and the outlook for January Sales is uncertain, GFK NOP data exclusively revealed to Retail Week has shown.
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News
Kingfisher demands monthly rents for all retailers
Kingfisher, owner of the B&Q DIY chain, will this week ask landlords to offer monthly rental deals to all retailers - not just those in trouble.
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News
John Lewis posts record technology sales
John Lewis has continued to gain sales momentum after notching up a record week for its technology products.
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News
Strategic Retail suspends shares
The shares for Fads owner Strategic Retail have been suspended this morning after it placed three of its subsidiaries into administration.
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News
EUK redundancies begin after no buyer is found
Two-thirds of the staff at EUK, the Woolworths-owned entertainment distributor which is in administration, have been made redundant after no buyer was found for the business.
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News
US’s Safeway to slash costs and prices next year
US grocer Safeway will slash prices next year and also run an aggressive cost-cutting programme to help it almost double its free cash flow.
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News
Bid deadline set for 48% stake in grocer Mercator
Two shareholders in Mercator, one of southeast Europe’s biggest food retailers, have set a deadline for bids as they prepare to sell their 48.3 per cent stake.
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Opinion
David Ross row won’t hurt Carphone Warehouse
Carphone Warehouse shares hit a five and a half year low on Monday as controversy raged over co-founder David Ross’s treatment of shares.
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News
Primark maintains it will not be beaten by the downturn
Primark parent Associated British Foods (ABF) has reaffirmed its belief that the value fashion chain will ride out the downturn.
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News
Morrisons sales shine as it woos customers
Morrisons delivered an industry-beating like-for-like sales performance in its third quarter as it won new customers.
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News
Land of Leather: the City view
The sofas specialist disclosed on Tuesday that talks about a potential sale are over.
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News
Sector manages to raise its profile following series of uplifting events
Last week’s interest rate cut, better weekly numbers from John Lewis, a weather boost and cautious broker optimism about general retailers all helped lift the sector.
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News
Envy administration on cards, Kinnaird warns
Envy boss John Kinnaird has said he may be forced to put the fashion chain into pre-pack administration if landlords are not willing to help the struggling retailer by renegotiating rents.
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News
Loan repayment deal props up troubled JJB
JJB Sports has been handed a lifeline as banks have allowed its repayment of a 20 million bridging loan from Kaupthing to be deferred.