Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Best of the Brokers for 13 June 2014 June 12, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TED BAKER Cantor Fitzgerald has reiterated its “buy” rating for Ted Baker, maintaining its target price of 2350p after results this week. The broker believes that management’s focus on high standards and international expansion will ensure the retailer has a wealth of opportunities [...]
Ted Baker sales rise as overseas growth pays off June 10, 2014 TED BAKER posted a 17.9 per cent jump in first quarter sales yesterday, as the fashion retailer’s tailoring and quirky prints won over customers overseas where it had been opening more stores. Retail sales rose 15.8 per cent in the 19 weeks to 7 June, helped by 48.1 per cent growth in its online business. [...]
Analyst Views: What did you think of Ted Baker’s quarterly trading update? June 10, 2014 JOHN STEVENSON | PEEL HUNT Another strong performance from Ted Baker, delivering around nine to 10 per cent like-for-like sales growth against stunning prior year comparatives. We leave forecasts unchanged for now, but reiterate our “buy” stance, underpinned by attractive medium term international expansion plans. FREDDIE GEORGE | CANTOR FITZGERALD The trading update was better [...]
London Report: BT falls on Sky’s sports news as FTSE closes flat June 10, 2014 AFTER two days of gains in which the FTSE 100 moved ever closer to its record high, London’s main share index yesterday dipped slightly as warring pay TV broadcasters dragged on the index. The London market closed on 6873.55, down 1.45 points or 0.02 per cent. BT Group fell 2.36 per cent to 396.50, the [...]
UK shares, stock markets and corporate news: What you need to know before the open June 10, 2014 A lower open is expected for European markets this morning, as investor wariness hangs around. Record lows for bond yields demonstrate a turnaround for Eurozone sovereign debt, but also compound fears that deflation could haunt the bloc. Stock market investors have been responding well to the European Central Bank announcements made last week, yet currency [...]
Ted Baker sees group revenues surge 18pc June 10, 2014 Ted Baker has reported a 17.9 per cent jump in group revenues in the 19 weeks to 7 June. Retail sales surged 15.8 per cent – comfortably above several analysts’ calls; Jefferies had expected a 15 per cent increase. During the period, the high-end clothes specialist opened new stores in Glasgow, Heathrow Terminal 2, several [...]
London Report: Economic data puts focus on UK housing market and growth June 9, 2014 ECONOMIC data out this week is set to shine a light on the UK’s steady return to health after the recession. The Office for National Statistics will tomorrow release April’s manufacturing data, which is forecast to show a 0.3 per cent rise in output. Construction output data – also likely to show a rise for [...]
Primark set to launch its first stores in the US April 23, 2014 ASSOCIATED British Foods (ABF) is taking Primark to the US, the FTSE 100 conglomerate announced yesterday, as it reported a 26 per cent leap in the budget clothing chain’s profits. Primark is set to open a 70,000 square foot store in Boston in 2015 and it is also in talks to open a further eight [...]
Improving economy lifts demand at Hammerson’s shopping malls April 23, 2014 HAMMERSON, the Anglo-French shopping centre landlord, said yesterday that an improving UK economy had helped to drive demand for its sites. The developer signed UK leases at eight per cent above estimated rental value in the period from 1 January to 22 April, and by one per cent in France. Footfall across its UK sites [...]
Retail successes and failures in the US April 23, 2014 Primark is making its first foray into the US, which has in the past proved to be a tough market to crack and one often described as the graveyard of UK retailers. However alongside a number of failures there have been several success stories. BurberryBurberry has proved to be one of the biggest British retail [...]