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JD Sports' full year profits fall 20% on back of Blacks Leisure acquisition Wednesday, 17th April 2013
JD Sports Fashion plc on Wednesday posted a 20 per cent fall in full-year profit, as the retailer focused on turning around its Blacks Leisure operations. Profit before tax and exceptional items for the year fell to £60.5 million in the 53 weeks to 2 February, in line with analyst forecasts for the period.
American Apparel defies expectations as sales rise 9.8% Tuesday, 5th March 2013
American Apparel Inc took Wall Street by surprise on Monday, as its fourth quarter trading results revealed a growth in sales and net income. Sales rose 9.8 per cent to USD 173 million for American Apparel, while comparable-store sales were up 7 per cent in the quarter, and comparable online sales up 42 per cent.
The Kooples faces a loss for second year in a row Wednesday, 20th February 2013
The French fashion chain had to withstand yet another blow as it is reported that it swung to a loss for the second year in a row. This is despite the fact that total sales for 2012 saw a strong growth, estimated to come in at £15.2 million for the period. The loss came as a result of the pre-tax losses that rose 3 per cent to £1.17 million together with high marketing costs, resulting in an overall loss.
French Connection could reveal larger-than-expected losses after disappointing Christmas sales Wednesday, 16th January 2013
It’s thought French Connection could show a loss of £7.5 million to £8 million when its full-year results are announced in March, compared with the £5 million profit it achieved for the previous year. Having already predicted that the year would end with a loss, the retailer saw its sales decrease by 2.9 per cent during the Christmas period, a fall largely attributed to the company’s decision to delay the discounting of its products.
HMV names administrators with more than 4000 jobs at risk Tuesday, 15th January 2013
Music and entertainment retailer HMV last night confirmed it was calling in administrators after talks to secure funding came to an end. Accounting firm Deloitte had been named as the administrator and said it will continue to keep the business running while it seeks a potential buyer, although reports emerged on Tuesday that HMV was no longer accepting or issuing gift cards or vouchers.
Waitrose distribution deal ends, 400 fear job loss Monday, 14th January 2013
Following a decision to cease business with a distribution centre in Leicestershire, 400 jobs are in danger. According to a report by the Grocer, September could bring the centre’s contract with Waitrose close, causing potential job losses for the Kuehne &Nagel-owned centre.
Comet closes last stores as losses reach £230m Tuesday, 18th December 2012
The final Comet stores will close today as the electrical retailer’s collapse leaves losses of more than £230 million for landlords, suppliers, customers and HM Revenue & Customs. Some 45 remaining stores will close on Tuesday, along with the loss of 6,900 jobs just a week before Christmas.
Darty posts €11m half-year loss after “unsuccessful and expensive” expansion Thursday, 13th December 2012
Darty has announced it will be focusing on core markets after an “unsuccessful and expensive” expansion program into new territories. Europe’s third-largest electrical goods retailer on Wednesday said it would be cutting back its operations in southern and eastern Europe after announcing a pre-tax loss of EUR 10.8 million for the six months to the end of October.
HMV sells off live music assets for £7.3m Monday, 3rd December 2012
HMV has sold the Jazz Cafe, the Barfly in Camden, the Ritz in Manchester and the Lovebox Festival in a deal with Lloyds Banking Group said to be worth £7.3 million. The music and entertainment retailer sold MAMA Group, which it acquired for £46 million in 2010, to the private equity arm of Lloyds Banking Group this week.
HMV reports 11% sales slump Monday, 24th September 2012
HMV has reported a like-for-like sales slump of 11.6 per cent for the 20 weeks to 15 September, a figure that was “broadly unchanged” on its previous trading update. The beleaguered entertainment retailer, which currently operates 243 shops in the UK and Ireland, suffered a loss of £16.2 million for the year to April.