MFI under pressure as shares dip October 20, 2005 Confidence in MFI’s stricken furniture chain was undermined further yesterday after a damning analyst report sent the shares into a nosedive. Richard Ratner, of Seymour Pierce, quoted “reliable sources” stating that the British showroom business had sought an extension of credit terms from trade suppliers. He also suggested that the division could be “put into [...]
Co-op shutting up shop October 18, 2005 The Co-op is in talks to sell two thirds of its loss-making department stores to Anglia Regional Co-operative Society as it prepares to exit the business. The food to funerals business intends to dispose of its 36-strong regional department store division within two years. It will close the 10 worst performing stores in February with [...]
Steady jog at Adidas October 13, 2005 German sporting goods company Adidas-Salomon said it was on course to meet its full year targets, despite its proposed €3.1bn (£2.1bn) acquisition of rival Reebok. Adidas chairman and chief executive Herbert Hainer told investors yesterday that the group remains on course to produce a 20 per cent increase in net income, operating margins of 11 [...]
Carphone tills ring October 13, 2005 Carphone Warehouse, the independent mobile phone company run by Charles Dunstone, said it was likely to ring up 35 per cent more profits in the first half of the year. The company also confirmed that as part of its expansion plans it would look at Onetel, the communications group being sold by Centrica. Carphone Warehouse [...]
GUS gloomy over retail sales October 13, 2005 Retail conglomerate GUS, which owns Argos and Homebase, yesterday predicted the retail sectors it serves would remain in negative like-for-like sales territory until at least September 2006. “We are planning on the assumption that like-for-like sales will remain in decline for the market as a whole for the next 12 months,” said finance director David [...]
JJB Sports declares a new price war October 13, 2005 Sportswear retailer JJB Sports said yesterday it was not afraid to start a price war by adopting a “more aggressive pricing policy”. Like smaller rival JD Sports the retailer has been a victim of the slowdown in consumer spending with like-for-like sales falling 8.8 per cent in the 26 weeks to 31 July. Operating profit [...]
