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Beale down on 'unprecedented' November

Thu, 26th Jan 2012 11:17

Beale, the department store chain, says retail sales in November saw "unprecedented" declines, which the group attributes to worries over the Eurozone affecting consumer behaviour.Like-for-like sales in the 11 weeks to January 14th were 7.0% below the prior year. Gross sales, which include 19 newly acquired stores from the Anglia Regional Co-operative Society (ARCS), were up by 47.7%.Over the full year pre-tax profits for the group were £0.54m versus a loss of £0.67m in 2010.Total revenues for the year were £62m, 27.6% up on 2010, although again the like-for-like figure is not as impressive, down 9.3%. Meanwhile, gross margins fell from 53.7% to 51.3%.Beale's Chairman, Keith Edelman said the purchase of the ARCS stores "strengthened the balance sheet, helping to withstand an extremely adverse retail environment that currently persists."The group's Chief Executive, Tony Brown, added: "We continue to review our cost base and to strive to realise the synergies from the integration."Shares in Beale were down 10% in morning trading. Over the last 12 months the stock has declined 17%.BS
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23 Jun 2016 13:11

Thursday broker round-up

(ShareCast News) - Ascential: Goldman Sachs reiterates buy with a target price of 278p. Sophos: UBS keeps at buy with a 300p target. SSP Group: JP Morgan keeps at overweight with a target price of 335p. Vodafone: HSBC upgrades to buy with a target of 175p. Bae Systems: Berenberg downgrades to hol

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27 Feb 2015 09:23

Beale Narrows Annual Loss And Improves Gross Margin, But Revenue Hit

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20 Feb 2015 09:50

Beale Takeover Offer From English Rose Declared Unconditional

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26 Jan 2015 12:28

English Rose Gets Binding Irrevocable Undertakings Over 34% Beale Stake

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19 Jan 2015 14:04

Beale to accept cut-price takeover offer from Perloff

Department store operator Beales has reluctantly accepted a takeover offer from property entrepreneur Andrew Perloff. Perloff, who along with his family owns 29.72% of Beales, has offered 6p a share in cash, a 48% discount to Friday's close of 11.5p. The offer, which is carried out through a new ve

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19 Jan 2015 13:25

UPDATE: Beale Board Backs Discounted Takeover By English Rose

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19 Jan 2015 09:45

Beale Shares Plunge As Board Backs Discounted Takeover By English Rose

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22 Sep 2014 15:38

Broker tips: BAE Systems, Tesco, Dairy Crest

Analysts at UBS believe BAE Systems is in the right segments of the defence industry – aerospace and high-end technology – to capitalise on the increased emphasis on higher technology military operations. That is manifestly the case when one looks at the recent 50 nations for Air Power

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19 Sep 2014 08:04

Beale Says Group Sales Lower After Closing Loss-Making Stores

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11 Sep 2014 13:00

Sector movers: Retailers fall as Next and Home Retail disappoint

Poorly-received updates from the likes of Next and Home Retail Group ensured that the UK-listed general retail sector was firmly in the red on Thursday afternoon. High street giant Next delivered a solid first half with both sales and profits ahead of the company's original expectations, but under a

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7 Jul 2014 14:55

Sector movers: M&S caution, rate-hike speculation dampen retail stocks

General retail stocks were under the weather on Monday as investors showed nervousness ahead of results from High Street bellwether Marks & Spencer and reacted to rate-hike speculation. Shares in M&S were down 1% this afternoon before its fiscal first-quarter update due out Tuesday morning which wi

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3 Jul 2014 11:42

Beale Pretax Loss Narrows, But Cautions On Tough 2014

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3 Jul 2014 08:58

Beale self-help slims losses

- Reduces half-year losses - Recent trading boosted by UK recovery, self-help initiatives - Confident business is in process of turning around Department store operator Beale trimmed half-year losses and said recent trading has been bolstered by the improving UK economy and a number of self-help in

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24 Apr 2014 07:41

UK MORNING BRIEFING: Unilever, AstraZeneca Suffer Weak 1st Quarters

LONDON (Alliance News) - UK shares have opened higher Thursday following strong results reported by US technology bellwethers Apple and Facebook overnight.

A number of major UK companies also reported early Thursday, but with a less positive tone.

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24 Apr 2014 05:14

UK AGM, EGM Calendar - Week Ahead

UK AGM, EGM Calendar
Thursday, April 24
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