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Poundland owners eye £600m sale Tuesday, 7th May 2013
Poundland owners Warburg Pincus are reportedly considering a sale for the budget retailer, in a deal that could be worth £600 million. The Daily Express on Tuesday reported Warburg Pincus, a private equity group which bought Poundland for £200 million back in 2010, is now looking to sell the retailer on the back of a boom in business for value household goods.
John Lewis fetes arrival of spring as fashion sales surge Friday, 3rd May 2013
Hotter climes have helped fashion sales at John Lewis rise 19.6 per cent on the same week a year before. The department store on Friday reported a stronger week with sales up 5.3 per cent in the seven days to 27 April, as fashion sales managed to offset tougher trading at the retailer’s home and electricals and home technology directorates.
Adidas posts record-breaking growth in profit Friday, 3rd May 2013
Adidas on Friday posted its highest-ever gross profit margin as a hike in prices in its own stores helped offset weak consumer spending across Europe. Sales at the world’s second largest sports apparel maker fell 2 per cent during the first quarter, attributed to a lack of major sporting events.
Scottish retail sales struggle to keep up Thursday, 2nd May 2013
Scottish retail sales grew by 0.6 per cent in the three months to March, as Scotland struggled to keep pace with the British retail rates. Figures released on Wednesday by the Scottish Government showed the value of retail sales grew 0.6 per cent in the three months to 31 March, with volumes up just 0.3 per cent.
Best Buy to exit Europe with sale of Carphone Warehouse stake Tuesday, 30th April 2013
US retailer Best Buy Co Inc has sold its 50 per cent stake in a joint venture with Europe’s biggest independent mobile phone retailer Carphone Warehouse Group over to its European partner. The sale, thought to amount to around GBP 500 million, (USD 775 million) is the latest effort by Best Buy is scale back its overseas operations in order to focus on its troubled US business.
Wealth funds poised to snap up £500m Bluewater stake Monday, 29th April 2013
A number of sovereign wealth funds are said to be interested in purchasing Lend Lease’s stake in the Bluewater shopping centre in Kent. Based in Australia, infrastructure firm Lend Lease is thought to be considering the sale of its 30 per cent stake in a deal that could be worth £500 million.
Carrefour Q1 come in flat as tough trading in Europe drags down sales Friday, 19th April 2013
The world’s second largest retailer reported first quarter sales of EUR 20.8 billion, just below expectations as a fall in demand in Spain and Italy hit home. Sales for Carrefour’s first quarter failed to meet the average forecast of EUR 20.9 billion from a poll of Reuters analysts, as the supermarket battled against continued weak demand in its core European market.
Glasgow’s St Enoch centre put up for sale Friday, 12th April 2013
Owners Ivanhoe Cambridge are reportedly looking to secure a sale of around £180 million for the Glaswegian shopping centre. According to a report by the BBC, Ivanhoe is looking to sell the St Enoch centre after purchasing the development eight years ago for £350 million under a joint venture with US firm Mills Corporation.
Thorntons says full year profit should beat expectations thanks to Easter trade Wednesday, 3rd April 2013
Easter eggs on the production line at Thorntons. British chocolatier Thorntons PLC on Wednesday said full year profit should beat market expectations after “satisfactory” trading over Easter, Mother’s Day and Valentine’s Day. Thorntons said it expects pre-exceptional profit before tax for the year ending 29 June to come in above the current market expectations of £3.1 million.
Kingfisher posts 11.4% fall in profit Tuesday, 26th March 2013
B&Q and Castorama owner Kingfisher posted an 11.4 per cent fall in annual profit on Tuesday, in line with forecasts for the period. The group, which is Europe’s largest home improvement retailer, said it expects market conditions to remain challenging but is confident of its own prospects after battling a weak economy in Europe and unfavourable foreign exchange rates in the past year.