Best of the Brokers for 18 March 2014 March 17, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com MICRO FOCUS Barclays upgraded Micro Focus from “equal weight” to “overweight” yesterday with a raised target price of 900p (from 800p). The broker expects that Micro Focus is soon to return to organic growth of up to five per cent now that its [...]
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 [...]
Tesco linked to China merger August 8, 2013 Tesco is expected to announce today an agreement to merge its operations in China with a division of state-run retailer China Resources Enterprise. Citing people close to the talks, Sky said that the supermarket group, is set to sign an agreement to merge its store estate in China with that of Vanguard, which is a [...]
London Report: UK data to show economy is on path to recovery June 2, 2014 ECONOMIC indicators out this week are expected to show the UK recovery continuing at a healthy pace. PMI survey data for services, manufacturing and construction are likely to show strong growth throughout May. Blerina Uruci, of Barclays, expects services PMI to hit 60 in May, up from 58.7 and well above the 50 figure which [...]
Bottom Line: Everyone loves a sale – and Asos shares are in middle of a big one June 5, 2014 ALMOST every other day, Asos customers are sent promo emails alerting them to the latest offer on the retailer’s vast fashion website: 25 per cent off dresses; save on festival fashion; free delivery on men’s hats. Yesterday, the tables were turned. Investors hit the sell button on Asos shares, sending them into freefall to end [...]
The week in brief April 6, 2014 Advertising Week Europe draws to a close This year’s conference came to an end last week, after a roster of the industry’s best-known names gathered to discuss themes including native advertising, programmatic buying and the importance of young talent. Among the stars in attendence were Idris Elba, James Corden, and Sainsbury’s outgoing chief executive Justin [...]
VEC lands third British e-cigarette company as industry booms June 9, 2014 US Victory Electronic Cigarettes (VEC) has acquired its third British e-cigarette company in six months for $104m (£62m). Ten Motives, one of the largest and fastest growing e-cigarette companies in Europe, was founded in 2008 by former telecoms Art Devlin. Ten Motives has long term relationships with leading retailers, such as Sainsbury’s, Tesco and Bargain [...]
VEC lands third British ecigarette company as industry booms June 9, 2014 US Victory Electronic Cigarettes (VEC) has acquired its third British ecigarette company in six months for $104m (£62m). Ten Motives, one of the largest and fastest growing ecigarette companies in Europe, was founded in 2008 by former telecoms Art Devlin. Ten Motives has long term relationships with leading retailers, such as Sainsbury's, Tesco and Bargain [...]
Inside Track: Tesco executives ponder a spin-off for Asian business September 11, 2013 IT’S hardly on the scale of Royal Bank of Scotland, but Tesco’s retrenchment from the empire-building of Sir Terry Leahy means it will soon struggle to describe itself using the adjective “global”. Fresh from its exit from Japan, a retreat into a joint venture in China and this week’s announcement of the part-sale, part-closure of [...]
Deloitte opens digital office in the capital’s technology district April 28, 2014 DELOITTE has followed KPMG, Tesco and William Hill by moving its digital operations team into the heart of London’s Tech City with a new office in Clerkenwell. The business services firm said it will move 170 staff from its 400-strong UK digital division into the new office on Clerkenwell Green. “If you look at how [...]