HMV looks to live music to boost fortunes March 26, 2010 HMV is pinning its growth hopes on live music as it forges ahead with a restructuring of the business. In a strategy update the firm pledged a turnaround of its Waterstone’s bookstores which traded poorly over Christmas, and said it would maintain the current level of dividend. HMV said that its transformation into an entertainment [...]
Bolland takes the helm as M&S chief May 4, 2010 A NEW era was ushered in at Marks & Spencer yesterday as former Morrisons chief Marc Bolland took the hot seat at the retailer. The Dutch executive faces the pressure of living up to a £15m remuneration package as he takes on the challenges of shaking up the company’s clothing range. Modernising the stock while [...]
A champion of British grub May 20, 2010 FOUNDING a restaurant would test the nerves of even the most hardened entrepreneur. Ensuring the food and décor are both delicious and attractive is one thing, but in London a new restaurant can sink or swim based on a review. Iqbal Wahhab, founder of Borough Market’s Roast, which opened in October 2005, swam, but not [...]
A champion of British grub May 20, 2010 FOUNDING a restaurant would test the nerves of even the most hardened entrepreneur. Ensuring the food and décor are both delicious and attractive is one thing, but in London a new restaurant can sink or swim based on a review. Iqbal Wahhab, founder of Borough Market’s Roast, which opened in October 2005, swam, but not [...]
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 [...]