Home Retail hit as shoppers cut back October 20, 2010 Home Retail posted an expected 23 per cent fall in first-half profit as cash-strapped low-income shoppers trimmed their spending. The firm, which owns Argos and DIY business Homebase, said it made an underlying pre-tax profit of £95m in the six months to 28 August. That was in line with company guidance of a 20-25 per [...]
CITY A.M. | SHADOW MPC EDGES CLOSER TO A RISE IN INTEREST RATES April 6, 2011 ALLISTER HEATH | CITY A.M. “With consumer price index inflation of 4.4 per cent and heading upwards, it’s time to end over two years of ‘emergency’ levels of interest rates. The Bank rate should be edged up by 0.25 per cent this month.” SIMON WARD | HENDERSON “Half-point rise. The economy has rebounded solidly in [...]
Confidence is on the up in spite of cuts September 13, 2010 CONSUMER confidence rose last month bucking the downward trend of the previous three months as expectations for the future of the economy appeared to improve on the back of positive second quarter GDP growth and improving employment statistics. Nationwide’s consumer confidence index rose five points to 61 in August although the index remains significantly below [...]
HSBC drags FTSE back as investors eye inflation forecasts May 11, 2011 Banking giant HSBC sapped some of the confidence from the blue chip index today as it announced that it was aiming to slash costs by £2.1bn. The news followed a bruising start to the week for banks who have already earmarked billions for potential payouts over dubious insurance protection sales. HSBC fell 1.3 per cent [...]
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 [...]
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 [...]
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 [...]
BEST OF THE BROKERS September 28, 2010 CARPHONE WAREHOUSE RBS initiates coverage with a “sell” rating and a target price of 180p. The broker believes the company’s mature core retail operation depends too much on competing in the crowded smartphone market. RBS predicts profits of more than ten per cent below consensus estimates, with earnings per share in 2012 forecast at 13.5p. [...]
Weak rise in high street sales September 6, 2010 SALES on the high street picked up slightly last month but the positive performance was flattered by an extremely weak August 2009, the British Retail Consortium (BRC) will say today. Like-for-like sales values, which strip out the effect on sales of changes in floorspace, rose one per cent in August compared to the same period [...]
Weak rise in high street sales September 6, 2010 SALES on the high street picked up slightly last month but the positive performance was flattered by an extremely weak August 2009, the British Retail Consortium (BRC) will say today. Like-for-like sales values, which strip out the effect on sales of changes in floorspace, rose one per cent in August compared to the same period [...]