John Lewis sales stalled by strike and sunshine October 15, 2010 RETAILER John Lewis said sales growth slowed last week, as a strike on London Underground and a brief Indian summer meant fewer shoppers in its stores. The employee-owned company, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said on Friday sales at its 28 [...]
Wolseley is confident as profits rise December 7, 2010 WOLSELEY, the world’s largest plumbers and builders merchant, posted a 39 per cent rise in first-quarter trading profit, helped by top-line growth in all regions. The FTSE 100 company said underlying operating profit rose to £159m in the three months to end-October, with like-for-like revenue up four per cent to £3.47bn. “This is a business [...]
Wolseley is confident as profits rise December 7, 2010 WOLSELEY, the world’s largest plumbers and builders merchant, posted a 39 per cent rise in first-quarter trading profit, helped by top-line growth in all regions. The FTSE 100 company said underlying operating profit rose to £159m in the three months to end-October, with like-for-like revenue up four per cent to £3.47bn. “This is a business [...]
Heineken sales slump as downturn hits drinkers October 27, 2010 HEINEKEN yesterday reported third-quarter sales at the bottom of expectations, as poor summer weather, austerity measures, and low consumer confidence hit European and US drinking. The Dutch brewer – whose main brands are Heineken and Amstel – said volumes rose sharply in Africa, Asia and Latin America but were lower overall on a like-for-like basis [...]
BEST OF THE BROKERS November 1, 2010 CARNIVAL Shore Capital rates the cruise operator a “sell” with a target price of 2,724p. The broker argues that the firm’s share price corresponds to consumer confidence, which continues to soften in the long-term. Profit at the company is also linked to oil prices, with every $10-per-barrel rise knocking 25 cents from earnings per share, [...]
Ladbrokes suffers as punters stake less May 14, 2010 LADBROKES has seen revenue dip by six per cent in the first four months of 2010, as punters staked less in its betting shops. the group said that in UK stores the amount placed on bets plunged by ten per cent. Meanwhile profits from gaming machines fell after VAT was put back up to 17.5 [...]
Austerity hits European consumer confidence September 22, 2010 CONSUMER confidence across the European Union (EU) fell in September to -11.8 points from -11.2 in August as concerns over Europe’s economic recovery returned. Across the 16-member euro area, which excludes the countries like the UK that have not joined the single currency, confidence was up fractionally to -11.2 from -11.4 in August. However, following [...]
Carpetright says 2011 will still be tough October 27, 2010 CARPETRIGHT said yesterday like-for-like sales over the last three months have fallen because of continuing tough market conditions – and warned of a difficult 2011 ahead. Group sales dropped by 5.2 per cent in the twelve weeks to 23 October compared to the previous period, with 0.5 per cent of the downturn attributable to the [...]
ECONOMIST VIEWS: HOW CONFIDENT DO YOU THINK UK HOUSEHOLDS ARE? September 26, 2010 HOWARD ARCHER | IHS GLOBAL INSIGHT “With the latest evidence pointing to a significant moderation in growth in the third quarter, we suspect that consumers may have become gloomier again about the economic outlook and how they might be affected. In particular, consumers remain worried over the fiscal squeeze that will increasingly bite.” ALAN CLARKE [...]
UK consumers are at their most confident in two years January 28, 2010 CONSUMERS are at their most confident in almost two years despite Britain’s flagging growth prospects, according to a leading index published today. The GfK/NOP consumer confidence index rose two points to -17, which is 20 points higher than it was this time last year. Consumers are also feeling happier about the economic situation over the [...]