ANALYST VIEWS: HOW BAD WAS THE PERFORMANCE OF ARGOS? June 9, 2011 TOM GADSBY | MATRIX GROUP These are pretty dire figures. We expected another tricky quarter for Argos, but the like-for-like sales fall is well below the expected range. While the decline in profits over the past two years is cyclical rather than structural, a clear upturn in consumer demand would be needed for the shares [...]
Andy Hornby eyed for Coral June 26, 2011 ANDY Hornby, the former chief executive of Alliance Boots, has been named as a frontrunner for the top job at Coral, the bookmaker. Hornby, 44, stood down from Alliance Boots, owner of the high street chemist, in March, after saying he needed “a few months’ break”. However, according to weekend reports, he is tipped to [...]
Andy Hornby eyed for Coral June 26, 2011 ANDY Hornby, the former chief executive of Alliance Boots, has been named as a frontrunner for the top job at Coral, the bookmaker. Hornby, 44, stood down from Alliance Boots, owner of the high street chemist, in March, after saying he needed “a few months’ break”. However, according to weekend reports, he is tipped to [...]
Home Retail execs in line for pay hikes despite profit drop June 1, 2011 HOME Retail Group executives are in line for pay rises despite a tough year in which the company issued a profit warning. The owner of Homebase and Argos proposed in its annual report that chief executive Terry Duddy and finance director Richard Ashton should receive raises. Under the remuneration proposal, to be presented to shareholders [...]
Home Retail execs in line for pay hikes despite profit drop June 1, 2011 HOME Retail Group executives are in line for pay rises despite a tough year in which the company issued a profit warning. The owner of Homebase and Argos proposed in its annual report that chief executive Terry Duddy and finance director Richard Ashton should receive raises. Under the remuneration proposal, to be presented to shareholders [...]
Argos slump adds to Home Retail’s woes June 9, 2011 SHARES in Argos owner Home Retail Group fell 13.3 per cent yesterday after it said the catalogue retailer’s sales fell more than expected in the past quarter. Argos was hit hard by customers’ reluctance to buy expensive electronics and big-ticket household goods, causing its sales to slump 9.6 per cent to £817m in the past [...]
Argos dents Home Retail April 20, 2011 HOME Retail Group boss Terry Duddy yesterday unveiled a massive shake-up at its Argos chain with dozens of new ranges and the launch of a home shopping TV channel. The chief executive admitted that a profit slump at the discount retailer had been triggered by a downturn in high street spending but that more could [...]
Home Retail shares hit in profit alert March 10, 2011 HOME Retail Group, the owner of Argos and Homebase, issued a profit warning yesterday, saying worried shoppers were reining in their spending. The company said that it now expected pre-tax profit for the year to 26 February to be between £250m and £255m. In January it had forecast full-year year profit of about £263m, down [...]
US investor gives Home Retail a boost April 5, 2011 HOME Retail Group saw its shares jump yesterday after US private equity firm Madison Dearborn Capital Partners upped its stake. The Argos and Homebase owner issued a profit warning last month but was buoyed by the move from across the Atlantic. Tradewinds Global Investors, controlled by Chicago-based Madison, held 4.25 per cent of Home Retail’s [...]
THE TIPSTER April 17, 2011 EARNINGS get into full swing this week. Tomorrow sees retail giant Tesco reporting its prelims. Most retail stocks have had it hard recently, with profit warnings being issued left right and centre, but in the last couple of weeks buyers have been attracted back into these stocks, believing the weakness presents a buying opportunity. Capital [...]