Retail Sector

Carphone shares ascend on dividend assurance

Carphone Warehouse has vowed more cash to endorse its megastores Best Buy electronics as it seems to set up the subsidiary label in the UK.

Yesterday, the organization visualized it shares plunging up by 11 per cent to 341.75p as it too expressed that it anticipated shelling out its initial dividend at the conclusion of this fiscal year.

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Hèrmes Shares may acquire by LVMH

Luxury goods group LVMH Moët Hennessy Louis Vuitton SA stated out that the French stock market regulator that it can purchase further shares in Hèrmes International SCA as conditions and the market circumstances permit.

LVMH over the weekend stated out that it had risen up a stake of 17.1% in Hèrmes as a long-term investment.

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Tesco to offer Samsung Galaxy Tab for £529

British supermarket chain Tesco has started accepting pre-orders for the Samsung Galaxy Tab that has been priced at £529.

Although the price of the Galaxy Tab is displayed at £529, yet placing the mouse over the brand reveals its initial price tag of £599. Tesco apparently slashed the price in order to compete with rivals. It may be noted here that Carphone Warehouse is also offering the Galaxy Tab for £529.

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Reduced Customer Spending Increases Pressure on Home Retail Group

Argos and Homebase have seen their sales fall 6.5% and 0.8%, respectively, as their low-income customers cut back on spending. Half-year profits fell from £123 to £95 million as the amount of household cash flow available for discretionary goods decreases and spending confidence worsens. The job losses and decreased spending that is likely to follow the Government’s cutbacks exacerbate the situation.

Big ticket items such as furniture, video games and television suffered especially large cuts in revenue.

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Wines and assets sold by Pernod Ricard

Pernod Ricard has proclaimed the sale of many wine brands; as it goes on to strip its portfolio. The French giant stated that it has sold the Lindauer brand, also many other local wines from Gisborne and Hawke's Bay, in a contract valued E47m.

The brands, all along with their connected inventories and possessions, have been chosen up by a group of buyers finished up of Lion Nathan New Zealand and Indevin. The contract is subject to regulatory endorsement.

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