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 [...]
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 [...]
Snow losers for traders looking for volatility January 16, 2011 THE Christmas trading results branded companies as either winners or “snow losers” last week. Tesco shocked the market by offering figures that analysts felt paled in comparison to Sainsbury’s. Thanks to 12,000 tonnes of grit, the supermarket deserved to take the title of winner of the festive race. Toy, clothing and leisure retailers also offered [...]
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 [...]
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 [...]
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 is hit by slump at Argos June 10, 2010 HOME Retail Group posted a bigger-than-expected drop in first-quarter sales at its Argos stores, hit by a drop in demand for video games and televisions. The group, which also runs Homebase, said economic conditions were challenging and uncertain but that it was still aiming to deliver flat profits over the full financial year, in line [...]
Home Retail is hit by slump at Argos June 10, 2010 HOME Retail Group posted a bigger-than-expected drop in first-quarter sales at its Argos stores, hit by a drop in demand for video games and televisions. The group, which also runs Homebase, said economic conditions were challenging and uncertain but that it was still aiming to deliver flat profits over the full financial year, in line [...]
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 [...]
Home Retail suffers as TV and video game sales slump June 10, 2010 HOME Retail Group posted a bigger-than-expected drop in first-quarter sales at its catalogue-based Argos stores, hit by a drop in demand for video games and televisions. The group, which also runs the Homebase, said economic conditions were challenging and uncertain but that it was still aiming to deliver flat profits over the full financial year [...]