Retail sales down by 1.8pc February 19, 2010 UK retail sales fell by 1.8 per cent between December and January – the biggest drop in 18 months – according to official figures. The reduction in sales volumes in the month after the Christmas period plunged three times faster than analysts had forecast. The Office for National Statistics (ONS) report said unusually heavy snow [...]
Ted Baker results receive a boost from Xmas trade March 25, 2010 FASHION retailer Ted Baker yesterday reported an almost ten per cent hike in annual profits. The UK firm saw pre-tax profits of £19.5m for the year until 30 January. That was up from £17.8m in the previous 12 months. Sales across Ted Baker businesses went up by 15.4 per cent to £136.5m. Founder and chief [...]
Glencore sees Xstrata tie-up May 3, 2010 SWISS mining and commodities trading powerhouse Glencore is working on a £55bn merger with Xstrata, the London and Geneva-listed metal extraction giant. Advisers to Glencore are understood to be drawing up plans for the privately-held company to join the public arena through a reverse takeover of Xstrata. Glencore, which already owns 34.4 per cent of [...]
TRAPPINGS OF SUCCESS COME IN ALL GUISES May 7, 2010 WELL, well; what a difference 24 hours can make. This time yesterday, we had a perma-grinning David Cameron hopping about the country like a kangaroo on speed, the impeccably-dressed Samantha at his side, while the blue camp awaited their chance at a Tory majority, hearts in mouths. We had Nick Clegg bouncing around like an [...]
Currys owner says turnaround on track March 19, 2010 CURRYS and PC World owner DSG International has said its turnaround plan is on target. The company pledged to deliver better profits and that its programme of revamping stores was on schedule, in a trading update. It will now accelerate the roll-out of its Megastore and 2-in-1 – combined Currys and PC World – stores. [...]
BEST OF THE BROKERS March 22, 2010 NEXT BNP Paribas Wealth Management has maintained its “neutral” stance on clothing retailer Next, ahead of the company’s full year results expected out on Thursday. BNP said that Next reported an upbeat Christmas trading period in January but the harsh weather at the start of the year could take the shine off the numbers. RANDALL [...]
West End booming for landlord Shaftesbury February 12, 2010 WEST End landlord Shaftesbury has seen buoyant trading over Christmas and New year, with lettings exceeding predicted prices. The company, which owns large areas of theatreland, said the West End had enjoyed a booming Christmas period. Around 70 per cent of the company’s portfolio comprises shops, restaurants and leisure and property for leisure uses but [...]
Ethel Austin closes 114 stores February 24, 2010 More than 1,000 staff at Ethel Austin lost their jobs yesterday after the stricken fashion retailer’s administrator was forced to close 114 stores. The move came after the Merseyside-based chain, together with Au Naturale, its homewares sister company, fell into administration this month, for the second time in two years, after poor Christmas trading and [...]
Sports Direct considers bid for Blacks March 2, 2010 SORTS Direct says it is considering a takeover offer for Blacks Leisure. Mike Ashley’s Sports Direct, which has brands including Slazenger and Dunlop, already owns almost 30 per cent of Blacks shares. It said it is “evaluating a possible cash offer for the entire issued and to be issued share capital of Blacks”. The company, [...]
Imperial a decent tip to finish in top three March 18, 2010 WE’VE had the thriller in Manila and the rumble in the jungle. Now it’s the War of the Wolds. Kauto v Denman III isn’t going to be quite the classic decider we have all wanted since the Tank and AP had that difference of opinion the first time they stepped out together at Newbury. Kauto [...]