All City & finance articles – Page 545
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NewsFindel considers rights issue
Home shopping group Findel may launch a rights issue to put its finances on a more secure footing.
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Heron Frozen Foods sales jump but profits take a hit
Grocer Heron Frozen Foods has revealed a slide in its full-year pre-tax profits.
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Green shoots shrivel as rally grinds to halt
Green shoots shrivelled as, for the third week running, general retailers were in reverse. The sector’s amazing rally over the past few months has shuddered to a halt as a result of profit taking by investors, some nasty shocks and a still uncertain outlook.
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NewsMoody’s downgrades outlook on Tesco
Credit rating agency Moody’s has downgraded its outlook on Tesco to negative over concerns about levels of debt in the business.
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NewsSports Direct offloads JJB stake
Sports Direct has sold its 5 per cent stake in rival JJB Sports.
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NewsChapter 11 provisions take shine off Ahold’s US performance
International grocery group Ahold has reported that its US chains Stop & Shop and Giant-Landover delivered their best like-for-like performance “in many years” during the first quarter.
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NewsMystery investor buys JJB stake
A mystery investor has bought a stake of almost 5 per cent in JJB Sports.
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NewsAdili EBITDA to come in below expectations
Ethical e-tailer Adili said EBITDA would be below expectations after gross margins were hit by discounting needed in the tougher market.
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NewsClarks makes gains as rivals stumble
Clarks has revealed an annual profits rise of 16 per cent and said it will capitalise on the “relative disarray” of its high street competitors.
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NewsBlacks in talks to extend its banking facility
Blacks Leisure has entered into talks with its bank to extend its banking facility to help its long-term financial position.
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NewsCautious brokers upgrade Kingfisher on Q1 prospects
Brokers have increased profit forecasts for DIY giant Kingfisher in expectation of a good first quarter but remain cautious about longer- term prospects.
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Burberry optimistic despite profits slump
Shoppers are still splashing out on Burberry products, the luxury group maintained, despite its recent profits fall.The retailer, which suffered a 12.5 per cent drop in pre-tax profits to £175m for the year to March 31, described the past year as the “most challenging” that the luxury sector has faced. ...
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Hefty restructuring and poor trading hits Kesa
International electricals group Kesa will book restructuring charges of £9m and e10m (£8.8m) respectively at UK arm Comet and Spanish division Menaje Del Hogar.
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OpinionShould UK retailers stay home?
DSGi’s offloading of its Hungarian Electro World business for the princely sum of €1 makes business sense, even if it is another setback to the retailer’s international ambitions.
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NewsMarks & Spencer’s profit plunge triggers shares slide
General retailers were down over the week as Marks & Spencer posted a profits fall and investors took profits. Marks & Spencer’s lower profits were expected but some analysts were disappointed with what Pali International analyst Nick Bubb called an “underwhelming” accompanying statement.
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NewsJJB Sports posts a loss as sales slump
JJB Sports like-for-likes plummeted 23.3 per cent in the 16 weeks to May 17 as it revealed its supply suffered as a result of a lack of credit insurance.
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NewsNext shareholders revolt over pay plans
Next shareholders have revolted against the fashion retailer’s remuneration report.
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NewsTK Maxx first quarter profits rise
TJX Companies, the US parent company behind discount designer TK Maxx in the UK and Europe, has notched up record growth in its first quarter and revealed that profits at the European division have soared.
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NewsBurberry profits fall after tough year for luxury market
Profits at luxury group Burberry fell 12.5 per cent in its full year to March 31.
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NewsMarks & Spencer launches transformation drive as profits plunge
Marks & Spencer has launched a transformation programme called 2020 – Doing the right thing, to be headed by finance director Ian Dyson.