CITY MOVES | WHO’S SWITCHING JOBS December 18, 2011 The Miles Partnership Sue Shipley is to join the search firm as a partner to specialise in retail. Shipley was previously the global practice leader at Odgers Berndtson, where she led successful searches for the chief executives of Primark and Thorntons, the managing director of Wickes, and the director general of the British Retail Consortium. [...]
Banks and miners fuel FTSE gains December 7, 2011 Miners and banks fuelled a lift in the FTSE 100 as investor sentiment improved ahead of a crunch Eurozone summit. The blue chip index mirrored Asia and the US where markets recovered from the ratings blow from Standard & Poor’s, which threatened to downgrade 15 nations, including Germany. There is mounting optimism that Eurozone leaders [...]
Banks and miners fuel FTSE gains December 7, 2011 Miners and banks fuelled a lift in the FTSE 100 as investor sentiment improved ahead of a crunch Eurozone summit. The blue chip index mirrored Asia and the US where markets recovered from the ratings blow from Standard & Poor’s, which threatened to downgrade 15 nations, including Germany. There is mounting optimism that Eurozone leaders [...]
High street brands in fight for middle ground October 11, 2011 ACCORDING to YouGov’s Household Economic Activity Tracker, 55 per cent of UK consumers are more price conscious than they were a month ago, compared to only two per cent who are less price conscious than in September. With the uncertainty about the economy continuing and people keen to make sure they are not overspending, winning [...]
AB Foods reports flat earnings September 12, 2011 Primark-owner Associated British Foods said it is on track to deliver flat annual earnings on Monday with better than expected sugar profits helping to offset lower than forecast margins at its discount fashion chain. The food and retail group said it expected Primark’s annual like-for-like sales to rise three per cent after a similar rise [...]
FTSE holds gains as Italy nears crisis November 8, 2011 BRITAIN’S top share index rose yesterday, as earnings from UK corporates such as Lloyds Banking Group and Vodafone were received positively by investors, although Eurozone worries meant gains were vulnerable to profit taking. Miners and integrated oils, rising with commodity prices, also helped the UK’s benchmark index close up 56.52 points, or one per cent [...]
ANALYST VIEWS: IS AB FOODS PERFORMING WELL IN TOUGH MARKETS? September 12, 2011 GRAHAM JONES | PANMURE GORDON We have pencilled in 10 store openings at Primark next year, we remain bullish about the expansion opportunities across Continental Europe, where trading has remained strong, and believe the pipeline for new stores remains good. We reiterate our Buy recommendation and 1200p price target ANDREW WOOD | BERNSTEIN Despite having [...]
ANALYST VIEWS: IS AB FOODS PERFORMING WELL IN TOUGH MARKETS? September 12, 2011 GRAHAM JONES | PANMURE GORDON We have pencilled in 10 store openings at Primark next year, we remain bullish about the expansion opportunities across Continental Europe, where trading has remained strong, and believe the pipeline for new stores remains good. We reiterate our Buy recommendation and 1200p price target ANDREW WOOD | BERNSTEIN Despite having [...]
AB Foods hit by slowdown at Primark February 28, 2011 A SLOWDOWN at Primark’s British stores hit the shares of owner Associated British Foods (ABF) yesterday as tax rises and inflation squeezed consumer spending. The budget retailer’s like-for-like sales growth slowed to three per cent in its first half. Primark has been a star performer for the company but with materials like cotton spiralling in [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]