Best of the Brokers for 25 March 2014 March 24, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com LLOYDS Investec has returned to a “buy” rating on the bank, two months after downgrading it to a “hold”, and sticks to its 85p target. The broker says it’s safe for investors to get back into the water now Lloyds has tackled its PPI [...]
Tesco relief as US tycoon takes on Fresh & Easy September 10, 2013 TESCO has finally put an end to its ambitious bid to crack the US market after agreeing yesterday to sell its Fresh & Easy business to American billionaire Ron Burkle. The supermarket giant is expected to take a £150m hit on the divestment to Buckle’s investment vehicle Yucaipa, which will take on 150 [...]
The week in brief March 16, 2014 Reebok unveils new logo In the second overhaul of the sportswear company’s logo in its 121-year history, Reebok has unveiled a new design to reflect its focus on fitness. Chief marketing officer Matt O’Toole said: “The new brand mark signals a clear purpose for our brand.. It is a symbol of change – an invitation [...]
Best of the Brokers for 29 April 2014 April 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DIAGEO Credit Suisse has cut the drinks group from “outperform” to “neutral” with a target reduced from 2,200p to 1,950p. The broker has also lowered its profit forecast for the coming year by eight per cent to reflect weaker growth in the US and emerging [...]
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 [...]
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 [...]
Troubled group’s shops to spend £100m in cutting prices of goods April 24, 2014 THE CO-OPERATIVE group became the latest supermarket chain to slash its prices yesterday, as it fights back against growing competition in the convenience sector. The retailer, which admitted earlier this year to years of underinvestment, is spending £100m this year in cutting prices of every day essential products such as bread, milk and bananas. It [...]
What you need to know before the open May 29, 2014 European markets are expected up this morning, with the focus on the latest first quarter GDP number from the US. Bond prices continued to rise yesterday – in peripheral as well as UK and German ones – with the market still firmly decoupled from equities. Data-wise, things are quiet in Europe, with the significant numbers [...]
Letters to the Editor – 28/05 – Ukip’s rise, Best of Twitter May 27, 2014 Ukip’s rise [Re: Why it’s hard to be optimistic about the future of UK politics, yesterday] Your point about Ukip needing to deal with the Lib Dem problem of being one thing to one set of supporters, and another to a different set, is spot on. It’s odd seeing so many younger metropolitan supporters regard [...]
Sainsbury’s to trial selling clothing online June 9, 2014 Sainsbury is to take on its high street and supermarket rivals by selling its clothing brand TU online for the first time. People close to the company previously said that clothing margins were too low justify delivering clothes bought online to customers. However in a statement yesterday Sainsbury’s said it will pilot selling [...]