Salesman who still has faith in the high street February 17, 2013 SOME entrepreneurs stumble upon their calling accidentally. Not this one. The founder of one Britain’s few contemporary retail success stories describes himself as the archetypal entrepreneur. Jason Bannister had always wanted to start his own company, but didn’t always know where. A brief stint working in a golf club pro shop when he was 15 [...]
Kingfisher puts B&Q’s Ireland unit into bankruptcy protection January 31, 2013 B&Q IRELAND was placed into a form of bankruptcy protection yesterday in a last-ditch attempt to save the loss-making chain. The company, which is owned by FTSE 100 group Kingfisher, operates nine stores in the Republic of Ireland but has been hit by the downturn in household spending. It has also failed to renegotiate rents [...]
LondonMetric makes first buy January 31, 2013 LondonMetric Property has snapped up six retail warehouses for £92.4m, its first acquisition since the company was created through the merger of London & Stamford Property and Metric Property Investments this month. The retail parks, all near London, are 98 per cent let to tenants including B&Q and Halfords, it said yesterday.
Co-op poaches new group chief from Kingfisher December 19, 2012 THE Co-operative Group has hired a senior retail executive with no prior financial services experience to be its new chief executive, as it prepares to expand the size of its banking business. The banking and supermarket conglomerate said Euan Sutherland, currently chief operating officer at home improvement retailer Kingfisher, will replace Peter Marks when he [...]
What the other papers say this Morning December 6, 2012 FINANCIAL TIMES Regulator sat in on Deutsche audits German regulators were briefed about Deutsche Bank’s valuation of a clutch of complex derivatives now under investigation by the Securities and Exchange Commission. The revelation potentially sets up a transatlantic regulatory conflict with US investigators. Deutsche reiterated a statement that the allegations were “wholly unfounded”. The bank’s [...]
FTSE ends week little changed November 30, 2012 The FTSE 100 closed down slightly today, as mid-session gains vanished by the end of the day. The flagship index was down 0.06 per cent at 5,866.82 but November still finished as one of the best-performing months of the year for London stocks. The markets were hit by this afternoon’s release of figures showing record-high [...]
Dixons steals Comet’s place in the spotlight November 29, 2012 THERE are two kinds of people in this world: winners and losers. And if the contrast between rivals Dixons and Comet’s recent luck is anything to go by, the same looks to be true of companies. Luckily for Dixons, it looks like Comet’s demise has put the firm’s star firmly in the ascendant. Its shares [...]
What are Kingfisher’s growth prospects? November 29, 2012 JAMES GRZINIC JEFFERIES Kingfisher confirmed deteriorating French and Polish demand, with B&Q’s UK sales also subdued. On a more positive note, a resumption in gross margin shows how self-help is an important driver to offset macro challenges. FREDDIE GEORGE SEYMOUR PIERCE The results were broadly in line with expectations…We continue to be concerned that the [...]
Kingfisher hit by French woes November 29, 2012 THE CHIEF executive of Kingfisher said uncertainty over the French government’s future tax policies had hit consumer confidence in its largest market, as it posted a six per cent drop in third quarter profit. The group, which runs B&Q and Screwfix in the UK as well as Castorama and Brico Depot in France, reported profits [...]
Profits fall at B&Q owner November 29, 2012 Profits at DIY group Kingfisher fell by six per cent in the third quarter to £257m, due to a tough sales environment in the UK and France. The owner of the B&Q chain saw UK and Ireland sales fall by 3.8 per cent on a like-for-like basis. The firm is badly affected by the stagnating [...]