All City & finance articles – Page 532
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News
Interest rate cut fails to boost shoppers' festive spending plans
The dramatic interest rate cut earlier this month has done nothing so far to stimulate Christmas spending, updated GfK NOP data shows.
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News
Asos sales and profits soar
Online fashion retailer Asos has once again defied the economic downturn, reporting a jump in pre-tax profits of 68 per cent to 4.1 million for the six months to September 30.
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News
More Otto jobs under threat in costs review
Otto UK has revealed its on-going review could have an impact across all departments after entering into a consultation period with its buying and creative teams.
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News
Top Woolworths shareholder: business is worth £340 million
Property magnate confident the chain has a future or a buyer could be found, despite City critics.
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Analysis
Rent holidays: Survival of the weakest
For retailers staring into the abyss a break from paying rent can be a last-gasp solution but, asks Ben Cooper, is it really always going to be the lifeline they are hoping for?
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AnalysisCost cutting: The lean machine
In these cash-strapped times deep and sustainable cost cutting is the name of the game. Charlotte Hardie looks at how retailers can trim the fat without their service suffering.
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Opinion
Interest rate cut might just work
When the chief executive of Tesco reportedly breakfasts at the weekend with the Governor of the Bank of England, emphasising the extreme fragility of consumer confidence and pressing for an interest rate cut, it’s a sure sign of torrid times.
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News
Majestic profits plummet 25% as champagne loses its fizz
Majestic Wine suffered a 25.5 per cent drop in first-half pre-tax profits after champagne sales slumped as corporate customers slashed expenditure.
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News
Analysts hail Tesco’s Far East growth plan
The financial sun is rising on Tesco’s Far Eastern businesses, analysts believe following a tour of stores in the region.
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News
WHSmith: The City view
Analysts remained convinced of the merits of bookseller and stationer WHSmith following an update on Wednesday.
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News
An October to forget spells out mountain to climb at Christmas
The downward pressure on retail share prices lightened a little following last week’s swingeing interest rate cut but, the scale of the industry’s difficulties were reflected in appalling British Retail Consortium sales figures.
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Opinion
Retailers need to pull together
It’s only one month and not the three required to meet the technical definition, but the October total sales decline announced by the British Retail Consortium this week confirms that retail is entering recession.
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News
Woolworths' EUK asks customers for upfront payment
EUK, variety store group Woolworths’ entertainment supply division, has been forced to ask customers for upfront payments as the credit crunch bites.
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News
Sofa Workshop future ‘uncertain’, says auditor
Sofa Workshop auditor BDO Stoy Hayward has expressed reservations about the furniture retailer’s future.
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News
Ted Baker retail sales rise but wholesale slumps
Ted Baker has revealed total sales in the 13 weeks to November 8 rose 1.8 per cent, but wholesale sales slumped 21 per cent.
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News
TK Maxx sales increase in third quarter
TK Maxx has notched up a 4 per cent increase in third-quarter like-for-like sales.
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News
Unity reduces stake in French Connection
Unity Investments has reduced its holding in French Connection to 17.65 per cent.
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News
Best Buy warns on profits after 'seismic change' in shopper behaviour
US electricals giant Best Buy, which plans to make a high-profile debut in the UK next year in partnership with Carphone Warehouse, has issued a profit warning.
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News
Sir Philip Green buys Baugur’s 28% in Moss Bros
Sir Philip Green has bought Baugur’s 28 per cent stake in struggling menswear chain Moss Bros.
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News
Entry deadline extended for the Oracle Retail Week Awards
The industry is currently making exceptional efforts to ensure margins are maintained whilst continuing to improve the customer experience.