ANALYST VIEWS: CAN WH SMITH CONTINUE TO HIT TARGETS WITH CUTS? April 14, 2011 NEIL SAUNDERS | VERDICT It’s the familiar story of an increase in profits on the back of a decline in overall sales, brought about by cost reductions and margin enhancements. The danger is that as cost savings become more difficult to extract, the business will have a weaker consumer proposition and will continue to see [...]
FTSE falls with investors still cautious ahead of US results April 14, 2011 BRITAIN’S top share index fell yesterday, led by Reckitt Benckiser after the company said its chief executive was retiring, and with banks weaker on renewed worries about sovereign debt levels. The FTSE 100 fell 46.64 points, or 0.8 per cent, to 5,963.80, its lowest close since 31 March. The index is up 1.1 per cent [...]
WH Smith hikes dividend as profit rises April 14, 2011 Newspaper, books and stationery retailer WH Smith posted a three per cent rise in first-half profit and hiked its dividend as higher profit margins offset lower sales in a tough trading environment. The group, which trades from over 570 high street stores and more than 500 outlets at airports, train stations, hospitals and motorway service [...]
THE WEEK AHEAD April 10, 2011 COMPANY NEWS • Today, Alcoa reports its first quarter earnings. This will give traders indications to what extent higher commodity prices are feeding through into profits. Alcoa is the world’s largest miner of bauxite and refiner of alumina. • Also today, beleaguered BP will host an EGM, while on Thursday it will have to face [...]
THE WEEK AHEAD April 10, 2011 COMPANY NEWS • Today, Alcoa reports its first quarter earnings. This will give traders indications to what extent higher commodity prices are feeding through into profits. Alcoa is the world’s largest miner of bauxite and refiner of alumina. • Also today, beleaguered BP will host an EGM, while on Thursday it will have to face [...]
WH Smith buys 22 new shops February 8, 2011 WH Smith expanded its high street presence yesterday as it spent £1.05m on 22 stores from the administrators of failed retailer British Bookshops and Stationers. The company, which began life as Sussex Stationers in 1938, called in Zolfo Cooper in January after struggling with snow and cashflow difficulties. Smiths will add the stores and staff [...]
Nomura loses fourth star to Bank of America Merrill Lynch February 1, 2011 BANK of America Merrill Lynch has poached Peter Bell, a star investment banker, from Nomura. Bell (right) will join Merrill in the spring – after a spell of gardening leave – where he will team up with former Nomura Co head of global investment banking Christian Meissner, as well as former banking colleagues Adrian Mee [...]
WH Smith in margin boost January 26, 2011 WH SMITH said yesterday a drop in sales over Christmas had been offset by a rise in profit margins. Sales in the two months to 22 January dropped four per cent at the newspaper, stationery and book chain. Like-for-like sales, which strip out the effect of new store spaces, fell by seven per cent. The [...]
WH Smith in margin boost January 26, 2011 WH SMITH said yesterday a drop in sales over Christmas had been offset by a rise in profit margins. Sales in the two months to 22 January dropped four per cent at the newspaper, stationery and book chain. Like-for-like sales, which strip out the effect of new store spaces, fell by seven per cent. The [...]
WH Smith sales drop – but margins improve January 26, 2011 WH Smith said higher profit margins offset a bigger-than-expected fall in sales over Christmas, due to disruptions caused by severe winter weather. The newspaper, books and stationery group said sales at town centre stores open over a year fell seven per cent in the eight weeks to 22 January, excluding entertainment products, which it plans [...]