Sales at Home Retail Group upset the City January 14, 2010 SHARES in Argos and Homebase owner Home Retail Group (HRG) slid more than six per cent closing at 265.8p yesterday despite the company increasing its full-year profit forecast by £20m. The retailer estimated that its pre-tax profits for the current financial year to 31 March would hit £285m The revised figure came as a trading [...]
Primark sales surge thanks to boom in budget fashions January 14, 2010 PRIMARK owner Associated British Foods (ABF) revealed healthy trading figures yesterday – mainly thanks to the budget fashion arm. Primark’s 196-strong chain saw sales rise 19 per cent in the 16 weeks to 2 January, with house broker Panmure Gordon estimating a seven per cent like-for-like sales rise as consumers made their way to its [...]
Mothercare sees strong trade January 14, 2010 Mothercare said yesterday that sales rose 4.6 per cent in the third quarter, after a strong Christmas performance helped its core business record its 18th consecutive quarter of sales growth. International sales rose 9.3 per cent – 14 per cent at constant exchange rates – and the group said it was on track to meet [...]
New-look Liberty in sales boost January 14, 2010 Sales at London department store Liberty rose almost 18 per cent across the last 12 months, with fragrances, menswear and scarves leading the push over Christmas. The figures helped the group’s revenue rise by 20 per cent. Liberty re-opened with a fanfare last year after a revamp. Takings from its website have tripled since the [...]
The big freeze helps Halfords January 14, 2010 Bikes-to-car parts retailer Halfords yesterday said sales for the third quarter were up one per cent thanks to a seasonal lift from winter weather. The company said the rise had been fuelled by the sale of items associated with motoring on the cold snap – including new batteries. The group also saw strong growth in [...]
Thorntons has poor Xmas January 14, 2010 Chocolatier Thorntons has admitted that trade at its stores in the run-up to Christmas was disappointing – but claimed a move away from discounting had blurred the picture. Like-for-like sales at Thorntons fell by 4.4 per cent in the 14 weeks to 9 January. The company also suffered a 18.1 per cent decline in sales [...]
Snowy spell hits profits at clubbing firm Luminar January 14, 2010 NIGHTCLUB operator Luminar warned yesterday pre-tax profit for the year will be below expectations, blaming youth unemployment and the cold snap for compounding the effects of the recession on its business. Luminar said like-for-like sales in December were 13.8 per cent below last year, marginally worse than the 13.4 per cent fall it recorded in [...]
Restructuring plans put Travelzest back in black January 14, 2010 SPECIALIST tour operator Travelzest yesterday said its restructuring plans had improved profits, over a tumultuous year that saw it lose chief executive Chris Mottershead after wrongly suggesting he had misappropriated company funds. Travelzest said its pre-tax loss narrowed to just £0.042m from £3.59m last year, while it moved into the black on an operating profit [...]
2010 set to be difficult year for investors January 14, 2010 THE first six months of 2010 will be “incredibly bullish” but investment will tail off in the second half, according to new research by Williams De Broë. The portfolio management firm advises caution over emerging markets, fearing they are being artificially buoyed by foreign investment. Head of research Jim Wood-Smith said: “Our round-up is that [...]
Recovery in advertising industry isn’t here yet January 14, 2010 MECOM, the European newspaper firm led by former Mirror executive David Montgomery, yesterday said that the decline in its advertising revenues had started to slow. Ad sales in November and December were down just eight per cent, a major improvement on the 18 per cent fall in revenues over the entire year, and on the [...]
