ANALYST VIEWS: WHAT IS DRIVING THE ADVANCE OF ASOS IN A TOUGH CONSUMER ENVIRONMENT? January 19, 2011 PHILIP DORGAN | ALTIUM SECURITIES With the launch of the US website going well, ASOS has accelerated its growth, as expected and management has reinvested margin gains in the offer, again, as expected. We are maintaining our ‘Hold’ recommendation. We are bullish that ASOS will hit its sales target, but think that the short-term outlook [...]
Blacks sales in festive rise January 4, 2011 BLACKS Leisure said it had been boosted by sales over the festive period with total sales in its outdoor business up 12.9 per cent in December. Blacks confirmed that it is still in talks with parties – which it has not named – about a possible takeover of the company. Like-for-like sales were up 10.2 [...]
De Beers returns to profit February 11, 2011 De Beers, the world’s largest diamond producer, returned to a profit in 2010 as production rose 34 per cent amid a strong recovery in diamond prices, although it remains cautious about the market this year. It posted net earnings after one off items of $598m (£372), compared with a net loss of $220m in 2009, [...]
Asos sales beat forecasts January 19, 2011 British online fashion retailer ASOS forecast year profit in line with market expectations after sales growth accelerated in its third quarter. ASOS, which targets internet-savvy 16 to 34 year old women looking to emulate the designer looks of celebrities like Kate Moss, Sienna Miller and Alexa Chung but at a fraction of the price, said [...]
BEST OF THE BROKERS January 18, 2011 GREENCORE RBS rates the Irish convenience foods producer “buy” with a target price of €1.50. The broker believes Greencore enjoyed solid trading over Christmas, though it expects raw material cost inflation to continue to dampen profits. RBS believes its short-term price is likely to be driven by its proposed merger with Northern Foods. PRUDENTIAL Nomura [...]
JJB Sports to fight for new rent proposal February 13, 2011 JJB SPORTS was heading for a battle with its landlords and other retailers after confirming its company voluntary agreement (CVA) is to include the renegotiation of two-fifths of its rent payments. The company has warned its biggest landlords, including British Land, Henderson and Prudential, that if its terms for discount rent and tenancy breaks for [...]
William Hill in lift from online betting profit January 19, 2011 BOOKMAKER William Hill has said its annual operating profits are set to be at the top end of forecasts. It reported strong revenue growth in the final three months of 2010, in part thanks to a big jump in online business. Web-related revenue grew by a quarter compared with a year earlier, while retail revenue [...]
William Hill in lift from online betting profit January 19, 2011 BOOKMAKER William Hill has said its annual operating profits are set to be at the top end of forecasts. It reported strong revenue growth in the final three months of 2010, in part thanks to a big jump in online business. Web-related revenue grew by a quarter compared with a year earlier, while retail revenue [...]
Nintendo shows off new 3DS January 19, 2011 NINTENDO yesterday announced it will release its much anticipated 3DS in Europe on March 25. The handheld console will feature one 3D screen and one touch-screen, as well as a motion sensor, a gyro sensor and the ability to take 3D photographs. It will also allow users to download games from a platform similar to [...]
Nintendo shows off new 3DS January 19, 2011 NINTENDO yesterday announced it will release its much anticipated 3DS in Europe on March 25. The handheld console will feature one 3D screen and one touch-screen, as well as a motion sensor, a gyro sensor and the ability to take 3D photographs. It will also allow users to download games from a platform similar to [...]