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Month: October 2017

BrightHouse to reimburse customers following FCA review

BrightHouse has announced a customer redress scheme after a review by the Financial Conduct Authority (FCA) identified some of its legacy processes. The news comes after the FCA confirmed in April that it was minded to authorise the rent-to-own electricals and furniture retailer, subject to specific conditions.

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Greenwoods rescued from administration

Menswear fashion chain Greenwoods has been rescued from the brink of collapse, after it was bought out of administration by Versatile International Trading. The move means 181 jobs have been saved, but 88 people will lose their jobs thanks to the closure of 22 stores






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Big Interview: Maria Raga, Chief Executive, Depop

Who has the world’s most recognised picture? Would it be the Mona Lisa , or perhaps the Queen’s profile that emblazons every coin in our pockets?






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Shoe Zone sales dip slightly

Shoe Zone has recorded a slight dip in sales in the preliminary report for its latest fiscal year. For the 52 weeks ending September 30, the footwear retailer raked in revenue of £158 million, compared to the £159.8 million recorded the year prior. Its net cash also stood at approximately £11.8 million, less than the previous year’s £15 million balance






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Carpetright lowers profit expectations as sales edge up

Carpetright has seen sales edge up over the last six months amid “volatile” markets in Europe and the UK, forcing it to drop its profit expectations. In the 25 weeks to October 21, like-for-like UK group sales grew 0.8 per cent, largely driven by a 2.1 per cent rise in sales in its flooring category. Growth was hampered by a “re-ranging activity” in its beds business in efforts to improve its product range.






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Skechers sees UK revival amid record results

Skechers has hailed a UK resurgence as its posts a double digit rise in sales and profits for its third quarter. For the quarter ending September 30 net sales jumped 16.2 per cent to £835 million compared to a year prior, breaking previous records. Gross profits saw a similarly significant jump of 21 per cent to £395 million alongside an earnings boost of 12.7 per cent to £88 million.






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Sainsbury’s branches out to formal menswear

Sainsbury’s has branched out to formal menswear for the first time, as the grocery giant capitalises on the increase in menswear sales in its Tu fashion division. The range, known as Tu Formal, is now available to buy online and in 250 of Sainsbury’s largest supermarkets.






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Habitat expands mini stores format after successful trial

Habitat has announced plans to roll out its mini store format inside four Sainsbury’s supermarkets by November after a successful trial in six locations. The furniture retailer is eyeing locations in York, Manchester, Newcastle and London, and once opened there would be 10 mini-format Habitat stores in operation – all of which are a mixture of standalone stores or stores-within-stores. Like the existing mini stores, the four new ones would take up 2000sq ft with an edited range of over 600 products across furniture, upholstery, lighting, homewares and textiles






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Cramer explains why low hopes have been driving earnings season’s winners

Jim Cramer said low expectations have led to some of the best stock runs of earnings season, like the one in Seagate.






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Cramer explains why low hopes have been driving earnings season’s winners

Jim Cramer said low expectations have led to some of the best stock runs of earnings season, like the one in Seagate.






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