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27/08/2001
Kingfisher approve Woolworths chain demerger
Kingfisher investors have approved the demerger of the Woolworths chain stores in the UK.
Shares in the retail chain store will begin trading next Tuesday. Former Railtrack boss Gerald Corbett, who joined in March to oversee the demerger, will head the newly separated business.
However, despite turnover of around 2.5 billion investors are viewing the move with scepticism. Investor confidence has taken a knock with news that the operating profits of Woolworths have fallen by 25 per cent as competition in the sector intensified this year.
The chain store is a unique part of the UK’s high street retail culture and is a leader in the retail of entertainment products. Video, DVD and CDs account for around 40 per cent of the stores’ turnover. Toys and confectionary are an important part of the business with the chain also owning the Ladybird range of childrenswear - the third largest retailer of clothes for children.
Woolworths originally part of the US chain store has been part of the Kingfisher group for almost 20 years.
There are currently 900 Woolworth stores throughout the UK. (SP)
Shares in the retail chain store will begin trading next Tuesday. Former Railtrack boss Gerald Corbett, who joined in March to oversee the demerger, will head the newly separated business.
However, despite turnover of around 2.5 billion investors are viewing the move with scepticism. Investor confidence has taken a knock with news that the operating profits of Woolworths have fallen by 25 per cent as competition in the sector intensified this year.
The chain store is a unique part of the UK’s high street retail culture and is a leader in the retail of entertainment products. Video, DVD and CDs account for around 40 per cent of the stores’ turnover. Toys and confectionary are an important part of the business with the chain also owning the Ladybird range of childrenswear - the third largest retailer of clothes for children.
Woolworths originally part of the US chain store has been part of the Kingfisher group for almost 20 years.
There are currently 900 Woolworth stores throughout the UK. (SP)
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Share surge as trading begins on Woolworths
Shares in UK store chain Woolworths have surged on their first hours of trading, up from an opening price of 25 pence to 31.25 pence.
Share surge as trading begins on Woolworths
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Kingfisher warns of potential drop in profit
Kingfisher, the owner of the B&Q home improvement chain, has announced that they are expecting reported retail profit for the first quarter to drop by 15%. Kingfisher also said that it expected like-for-like sales to decline by around 6% in the first quarter.
Kingfisher warns of potential drop in profit
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Woolworths To Return Online
Failed retailer Woolworths is to return as an online retailer, in an unexpected move, following the acquisition of the name by Shop Direct. Just weeks after the company went into administration, which saw the closure of more than 800 stores, Daily Telegraph owners Sir David and Sir Frederick Barclay confirmed they have bought the brand.
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200 Jobs At Risk After BHS Enters Administration
Northern Ireland's four British Homes Stores (BHS) have been taken over by administrators putting up to 200 jobs at risk. It is understood that the stores – in Belfast, Holywood, Newtownabbey and Lisburn – will continue to trade while administrator, Duff & Phelps, seek a buyer for the retail chain.
200 Jobs At Risk After BHS Enters Administration
Northern Ireland's four British Homes Stores (BHS) have been taken over by administrators putting up to 200 jobs at risk. It is understood that the stores – in Belfast, Holywood, Newtownabbey and Lisburn – will continue to trade while administrator, Duff & Phelps, seek a buyer for the retail chain.
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