Home Retail sales enjoy a sunshine lift June 11, 2009 HOME Retail Group yesterday brought some cheer to the market after its Homebase chain reported its first positive sales figures in two years. The DIY chain yesterday posted a 3.8 per cent increase in like-for-like sales for the 13 weeks to 30 May, beating market expectations. Homebase said total sales, which include those from new [...]
Home Retail Group fights off an investor rebellion over exec pay July 2, 2009 HOME Retail Group, the owner of Argos and Homebase, yesterday saw off an investor rebellion over proposed changes to pay plans at its annual shareholders meeting. A resolution to approve a new executive bonus scheme, which will see some managers paid up to 150 per cent of their salaries in cash, was passed. However, 35.7 [...]
IS IT SUNNY SIDE UP FOR HOME RETAIL? June 11, 2009 JOHN STEVENSON KBC PEEL HUNT“Home Retail Group’s first quarter trading update has seen a notable boost to seasonal lines as Homebase at last delivers like-for-like sales growth. Argos sales were also ahead of expectations, although margins remains under pressure. We note a strong performance in toys, no doubt benefiting from the demise of Woolworths, a [...]
BEST OF THE BROKERS June 14, 2009 HOME RETAIL GROUPSeasonal performance at Homebase appears to have driven consensus forecasts higher, said Nomura analysts as they reiterated their “buy” rating on the stock and upped their target price to 288p. The broker says the firm is on track to reduce full year total costs. ITVGoldman Sachs removed ITV from its “Conviction List” and [...]
BEST OF THE BROKERS June 14, 2009 HOME RETAIL GROUPSeasonal performance at Homebase appears to have driven consensus forecasts higher, said Nomura analysts as they reiterated their “buy” rating on the stock and upped their target price to 288p. The broker says the firm is on track to reduce full year total costs. ITVGoldman Sachs removed ITV from its “Conviction List” and [...]
Alliance Boots woos HBOS’s Andy Hornby June 7, 2009 FORMER HBOS chief executive Andy Hornby is poised to become the new chief executive at high street giant Alliance Boot, giving him the chance to restore his reputation. Andy Hornby resigned from HBOS in October 2008, waiving a £1.6m bonus after the bank’s near collapse. Italian billionaire Stefano Pessina has been running Alliance Boots as [...]
THE LONDON REPORT June 7, 2009 CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday. Today’s 17-week trading statement from JD Sports Fashion is [...]
THE LONDON REPORT June 7, 2009 CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday. Today’s 17-week trading statement from JD Sports Fashion is [...]
SIR VICTOR BLANK May 17, 2009 SIR VICTOR BLANKCHAIR, LLOYDS BANKING GROUP EDUCATED at Stockport Grammar School and Oxford, Blank began his career with Clifford-Turner (now Clifford Chance), where he became an expert in takeover law and was made partner in 1969, at the age of 26. Blank joined Charterhouse in 1981 as head of corporate finance, rising to serve as [...]
SIR VICTOR BLANK May 17, 2009 SIR VICTOR BLANKCHAIR, LLOYDS BANKING GROUP EDUCATED at Stockport Grammar School and Oxford, Blank began his career with Clifford-Turner (now Clifford Chance), where he became an expert in takeover law and was made partner in 1969, at the age of 26. Blank joined Charterhouse in 1981 as head of corporate finance, rising to serve as [...]