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 [...]
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 [...]
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 [...]
Debenhams upbeat despite tough market March 15, 2011 Debenhams said it was well placed to cope with a worsening consumer market by focussing on growing profit margins rather than chasing sales. The department store chain, which trades from 166 stores in Britain, Ireland and Denmark and about 60 franchised outlets in 23 countries, forecast first half pre-tax profit in line with a market [...]
BEST OF THE BROKERS March 13, 2011 F&C ASSET MANAGEMENT Deutsche Bank has downgraded the asset manager from “hold” to “sell” with a target price of 76p. The broker sees two new risks from the firm’s results last week that are not reflected in the current share price: a decline in equity investment performance and a dispute with key client Millennium BCP. [...]
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 [...]
FTSE falls below 6,000 level as Middle East woes weigh February 22, 2011 BRITAIN’S top share index closed lower yesterday as troubles in the Middle East clouded sentiment, but bumper consumer confidence figures from the US spurred a late rally and boosted commodity stocks. The FTSE 100 closed down 18.04 points or 0.3 per cent lower at 5,996.76, having finished at a two-week closing low on Monday. “The [...]
Businesses back work drive January 24, 2011 A government drive to get more young people into employment through work experience has been welcomed by business groups. Firms including Homebase and McDonald’s pledged to offer placements to unemployed 18 to 21-year-olds. CBI director of employment policy Katja Hall backed the drive: “No experience is more valuable to a young person looking for a [...]
Snow losers for traders looking for volatility January 16, 2011 THE Christmas trading results branded companies as either winners or “snow losers” last week. Tesco shocked the market by offering figures that analysts felt paled in comparison to Sainsbury’s. Thanks to 12,000 tonnes of grit, the supermarket deserved to take the title of winner of the festive race. Toy, clothing and leisure retailers also offered [...]
Home Retail not as bad as forecast January 13, 2011 SHARES in Home Retail Group jumped more than six per cent yesterday to hit their highest level since September, after the household goods retailer said sales had fallen less than analyst forecast. Analysts issued a slightly higher profit forecast for the full-year between £250m and £275m, following the more upbeat statement. Like-for-like sales at its [...]