Rentokil gears up for City Link sell off option October 14, 2012 RENTOKIL Initial, the business service group, is set to conduct a make or break review of its loss making delivery arm City Link at the end of the year with a view to selling off the business. The FTSE firm, which offers pest control, laundry and parcel delivery services, is gearing up to sell the [...]
Flybe cutting costs to get back on track after profit warnings April 10, 2012 REGIONAL airline Flybe remains on course in spite of market turbulence, it said in a trading update yesterday. The firm, which made its third profit warning of the financial year in January, said moves to cut costs and boost revenues per seat have helped it steady its position in the first quarter of 2012. It [...]
Capital Shopping Centres suffers as both footfall and lettings dip April 25, 2012 CAPITAL Shopping Centres (CSC) yesterday gave a grim update on how the retail sector was faring in the tough economy as it said that its occupancy rates had fallen while fewer people were hitting the shops. The company, whose malls include the Lakeside in Essex and the Trafford Centre in Manchester, said the tough economy [...]
Next surprises with warning of autumn lull September 13, 2012 SHARES in Next tumbled 7.2 per cent yesterday after the fashion chain braced investors for a slow autumn. The group announced a better-than-expected 10.2 per cent rise in pre-tax profits to £251.3m for the six months to July. But Next spooked the markets by admitted that sales were “disappointing” in August and early September. Revenues [...]
Next surprises with warning of autumn lull September 13, 2012 SHARES in Next tumbled 7.2 per cent yesterday after the fashion chain braced investors for a slow autumn. The group announced a better-than-expected 10.2 per cent rise in pre-tax profits to £251.3m for the six months to July. But Next spooked the markets by admitted that sales were “disappointing” in August and early September. Revenues [...]
Sainsbury’s sees boost in market share March 21, 2012 J SAINSBURY boss Justin King said the retailer’s success “was not dependent on others failing” as the group continued to win market share from rivals like Tesco and posted a surge in fourth-quarter sales. Justin King described himself as a “competitive guy” as the UK’s third largest supermarket reported a 2.6 rise in like-for-like sales [...]
London rejoices as Megafon IPO defies the odds November 28, 2012 MEGAFON, the mobile telecoms group controlled by Russia’s richest man, Alisher Usmanov, became the second largest share offering in Europe this year as it raised $1.7bn (£1.06bn) yesterday in London and Moscow despite concerns which had earlier led Goldman Sachs to step aside from the deal. The deal was assisted in its final stages by [...]
Retail failures fell last quarter but fail to improve from 2011 September 30, 2012 THE NUMBER of UK retail failures showed no sign of abating in the first nine months of the year, as retailers continued to struggle against a tough economic backdrop and weak consumer spending. Figures from accountancy firm Deloitte show that although retail administrations fell in the third quarter – from 33 last year to just [...]
HMV sales drop over quiet summer September 21, 2012 Embattled music retailer HMV said today that like for like sales dropped nearly 12 per cent over in a “very quiet” summer. Like for like sales fell 11.6 per cent in the 20 weeks leading up to 15 September and total group sales fell 14.8 per cent, following the closure of 60 of their 273 [...]
Hobbs gets the ladies on board without quotas December 2, 2012 NICKY Dulieu, the boss of fashion retailer Hobbs, has managed to recruit a nearly all-female board since taking up the helm in 2008 but insists that imposing quotas is not the way to increase the number of women in the boardroom. Asked whether she was in favour of quotas, Dulieu told City A.M: “I genuinely [...]