All City & finance articles – Page 553
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News
Credit insurer warns of more retail administrations
Credit insurer Euler Hermes has signalled more retail administrations on the horizon as trading conditions continue to worsen on the high street.
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News
Staples ups offer for Corporate Express
US office supplies retailer Staples has increased its offer for rival Dutch business Corporate Express by 14 per cent.
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News
Tesco snaps up RBS stake in Tesco Personal Finance
Tesco is to acquire Royal Bank of Scotland’s stake in Tesco Personal Finance for 1 billion, bringing to an end a joint venture with the bank that has lasted almost a decade.
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News
Moss Bros supplier on trail of Baugur stake
Menswear supplier Berwin & Berwin is understood to be interested in buying a slice of Baugur’s stake in Moss Bros after the Icelandic investor walked away from its 40 million takeover bid for the retailer.
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Opinion
More twists in Moss Bros saga
Baugur dropped a bombshell this week when it announced it had scrapped its offer for struggling menswear retailer Moss Bros. But, after the drawn-out process and bitter in-fighting, should we be too surprised?
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News
City slams upbeat ONS April retail sales data as incorrect
Office for National Statistics (ONS) figures showing resilient retail sales in April have been blasted by the City for painting a rosier picture than that experienced on the high street.
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Analysis
Retailers to suffer as shoppers feel the pinch of rising fuel costs
Will growing concern over the cost of fuel begin to change shopping habits? That was the question being posed this week as images of protesting truck drivers dominated the news.
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News
DIY chains take hammering over first quarter
The world’s two largest home improvement retailers, Home Depot and Lowe’s, have reported a meltdown in first-quarter profits as the US housing market continues to slump.
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News
Gap profits soar while Old Navy haemorrhages sales
Beleaguered US fashion group Gap has suffered a like-for-like sales dive in its first quarter, with chief executive Glenn Murphy describing the retail climate as “one of the toughest” in recent memory, despite profits soaring 40 per cent over the period.
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Analysis
First port of call
The gloomy market conditions mean that store systems have never been more critical. Joanna Perry finds out how retailers are keeping them up and running
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Opinion
Be prepared for the long road ahead
In my papers, share prices “plunge” or “soar”. On my screens, they have a slightly more boring habit of ticking up or ticking down.
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News
John Lewis sales fall again
John Lewis Partnership has suffered another drop in sales at its department stores.
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News
Grocery bills rise 5.8%
The cost of groceries have soared 5.8 per cent since the start of the year, according to a Verdict report.
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NewsBill Gates buys stake in Carpetright
Carpetright has been given an unexpected boost after Microsoft billionnaire Bill Gates bought a 3 per cent stake in the flooring and carpet specialist.
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Opinion
The Retail Week – May 30, 2008
While the American economy might be heading towards recession, New York still remains the epicentre of the retail world.
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Opinion
A discounter’s market
Shoppers, of course, have been watching the pennies this year. Yet, with the trend leaning towards staying in rather than going out to restaurants, the grocers have still achieved growth in sales of quality food.
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News
Brafman buys MKOne
Mark Brafman has bought value fashion retailer MK One out of administration for an undisclosed sum as predicted by Retail Week magazine on May 23.
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Opinion
A culture shock is well overdue
DSGi boss John Browett had to put up with some mickey-taking about his pledge to “transform the very DNA” of the electricals group.
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News
Browett’s plan for DSGi fails to impress the City
Analysts sharply marked down electricals group DSGi’s shares after chief executive John Browett unveiled his turnaround strategy last week.
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NewsClinton cards: the city view
Greetings card specialist Clinton Cards notched up a 1.2 per cent rise in third-quarter group like-for-likes, but is cautious about the outlook.