Primark warns over rising cotton prices November 9, 2010 Primark owner Associated British Foods warned the sharp hike in cotton prices will hit margins at its discount fashion chain as it beat forecasts with a 25 per cent rise in full-year earnings. Chief executive George Weston said that Primark will not surrender its price leadership status in clothing and will take a hit to [...]
Haye uncertain on future after Klitschko damp squib July 3, 2011 BRITAIN’S David Haye admits he is having second thoughts about retiring after losing his WBA heavyweight title to Wladimir Klitschko in Germany on Saturday night. Haye has long insisted he would quit the ring in October, when he turns 31, but refused to commit following his unanimous points defeat to the Ukrainian, who also holds [...]
Haye uncertain on future after Klitschko damp squib July 3, 2011 BRITAIN’S David Haye admits he is having second thoughts about retiring after losing his WBA heavyweight title to Wladimir Klitschko in Germany on Saturday night. Haye has long insisted he would quit the ring in October, when he turns 31, but refused to commit following his unanimous points defeat to the Ukrainian, who also holds [...]
FTSE extends gains as talk of takeovers boosts the market July 5, 2011 THE FTSE 100 rose for an eighth straight trading day yesterday, as earnings hopes lifted Tullow Oil and bid talk boosted Reckitt Benckiser. Tullow, up 3.8 per cent, said it expected to post record first-half revenues as it ramped up output in Ghana and also said it was a few weeks away from completing a [...]
There could be baa-bad news for retailers afoot June 6, 2011 DE-BLEAT-ING sheep numbers across the globe could have traders flocking into short positions on retail stocks later this year. Wool hit a 23-year high last week. Clothing retailers were decrying the increase yesterday, speculating on how long they can absorb the cost. The UK managing director of Hugo Boss Bernd Hake said that they would [...]
ANALYST VIEWS: CAN AB FOODS RETURN TO GROWTH AS COSTS RISE? April 27, 2011 JEREMY BATSTONE-CARR | CHARLES STANLEY We have long held AB Foods management in high regard and admire the candour with which the company faces up to its operational challenges. However, we will be lowering our earnings estimates in the light of these results and believe that the shares’ rating leaves little to go for. ANDREW [...]
Miners buoy FTSE but ratings threat casts shadow May 24, 2011 Mining stocks put the FTSE 100 on the front foot in early trading as metal prices rose – boosted by Goldman Sachs recommending investors to buy into commodities. Commodities trader Glencore made its full market debt and rose slightly from its price on the so-call grey market, but remained below the 530p offer price of [...]
BEST OF THE BROKERS April 19, 2011 ASSOCIATED BRITISH FOODS Credit Suisse rates the retail group “overweight” with a target price of £10.60. The broker expects underlying group earnings to reach £353m, a rise of 6.6 per cent on last year, when ABF reports half-year results next Wednesday. It thinks like-for-like sales at Primark will be down three per cent, with the [...]
ANALYST VIEWS: CAN AB FOODS CONTINUE TO GROW AS COSTS SHOOT UP? February 28, 2011 CLIVE BLACK | SHORE CAPITAL ABF has revealed more divisions reporting either slowing sales growth or margin pressure than we had anticipated. Such challenges are likely, to our minds, to compress the upward momentum of the shares in the near term. We reiterate our ‘hold’ recommendation. GRAHAM JONES | PANMURE The shares have come off [...]
Forget Primark. Buy Chanel for value September 16, 2010 WITH fashionistas flocking into the capital for the start of London Fashion Week today, shopaholics might be itching to join the festivities and splash out on designer wares. It might sound unlikely, but there are certainly worse ways to make an investment. According to research by Mintel, Brits spent £46.2bn on clothing and adornments in [...]