More shops help H&M boost sales

Clothing retailer Hennes & Mauritz has reported a boost in sales during September thanks to an increase in the number of stores in its chain.

Clothing retailer Hennes & Mauritz has reported a boost in sales during September thanks to an increase in the number of stores in its chain.

The Swedish company said turnover increased 9% on the same month last year as the number of shops in the group expanded by 140.

99% support for MFI £1 sell-off

STRUGGLING furniture chain MFI was yesterday given shareholder backing for the sale of its 200 stores for just £1.

More than 99% of shareholders voted in favour of the sale of its loss-making retail arm to private equity firm Merchant Equity Partners for the nominal fee.

Barclays set to woo millionaires

BARCLAYS said yesterday it will shell out £375m on encouraging a greater number of millionaires to open accounts with the bank.

The group's wealth management arm is eager to take advantage of the growing number of millionaires, including Premiership footballers and popstars.

Compass settles UN row for £40m

CATERING giant Compass settled its £600m lawsuit over United Nations contracts yesterday for less than £40m.

Compass was in dispute with Monaco-based Es-Ko and Swiss rival Supreme Foodservice amid allegations of corruption in the awarding of UN contracts to its Eurest Support Services (ESS) unit.

EMI puts faith in new releases

MUSIC group EMI said yesterday albums from Robbie Williams, Norah Jones and Tina Turner will help it to meet full year expectations, despite a 5% slide in first half revenues.

EMI said the drop - which was 3% on a constant currency basis - was due to the group's release schedule which favours the second half.

Sharp slump in Alexon profits

DOLCIS-TO-BAY Trading retailer Alexon yesterday reported a sharp slump in profits after losses widened at two of its four trading divisions.

The Luton-based group said the challenging trading environment resulted in half-year pre-tax profits of £1m in the six months to July 29, compared with £7.9m a year earlier.

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