Home Retail not as bad as forecast January 13, 2011 SHARES in Home Retail Group jumped more than six per cent yesterday to hit their highest level since September, after the household goods retailer said sales had fallen less than analyst forecast. Analysts issued a slightly higher profit forecast for the full-year between £250m and £275m, following the more upbeat statement. Like-for-like sales at its [...]
Home Retail Group sales rally January 13, 2011 Home Retail said sales had fallen less than analysts expected at both its Argos and Homebase units in the run-up to Christmas, and forecast yearly profit in line with its own previous forecast. The company said it expected full-year pre-tax profit to be around the mid-point of its previously indicated range of £250m to £275m. [...]
Topps Tiles is upbeat as it pays dividend November 30, 2010 BRITISH tile and wood flooring retailer Topps Tiles was yesterday upbeat on its prospects in the face of tough economic headwinds, saying its focus on customer service has paid off and it will restart its dividend. “I do not really see there being any reason why we cannot continue to take market share. But if [...]
Gala Coral changes board as new chief is appointed November 8, 2010 CASINO group Gala Coral yesterday announced the appointment of former Marks & Spencer director Carl Leaver as its new chief executive, to replace interim CEO and chairman Neil Goulden, who is leaving the company. Leaver was the high street retailer’s director of international, home and direct businesses until 2009, having previously worked for De Vere [...]
Focus owners seek financial help or a sale October 31, 2010 THE owners of the UK’s fourth-largest DIY chain Focus are looking to investment bankers to advise on the future of the heavily debt laden business, which could lead to a sale. US based private equity firm Cerberus is taking advice from Lazard on the future of Focus, and is in talks with its banks about [...]
Home Retail hit as Argos sales dented October 20, 2010 HOME Retail Group yesterday said that cash-strapped customers were abandoning its cut price retailer Argos as sales dopped. The company, which also owns Homebase, revealed that its overall profit had dropped 12 per cent to £103m in the six months to 28 August. A plunge in demand for furniture, video games and televisions contributed to [...]
Home Retail hit as shoppers cut back October 20, 2010 Home Retail posted an expected 23 per cent fall in first-half profit as cash-strapped low-income shoppers trimmed their spending. The firm, which owns Argos and DIY business Homebase, said it made an underlying pre-tax profit of £95m in the six months to 28 August. That was in line with company guidance of a 20-25 per [...]
Home Retail Group issues bleak warning over profit September 9, 2010 HOME Retail Group yesterday warned that its half-year profits will be down by as much as a quarter due to the tough consumer climate. Like-for-like sales at its Argos stores dropped by 6.5 per cent in the six months to 28 August. Meanwhile, Homebase’s like-for-like sales dipped only 0.8 per cent as the good weather [...]
Home Retail Group says profit to dive by a quarter September 9, 2010 Home Retail Group forecast a 20-25 per cent reduction in first-half profit, with sales at its Argos stores continuing to fall as low income shoppers cut back on spending. The firm, which also owns the Homebase DIY business, said it expected to make a year to the end of February 2011 underlying pre-tax profit of [...]
ANALYST VIEWS: HOW IS KINGFISHER HOLDING UP IN LEAN TIMES? July 22, 2010 NICK BUBB | ARDEN PARTNERS We had hoped to see a small positive, on the view that the weather has been helpful and the World Cup impact overstated. The UK is in fact disappointing, with B&Q like-for-like sales down by 4.3 per cent, albeit gross margins are good. The read-across for Homebase and Home Retail [...]