Retailer H&M’s like-for-likes ease worries December 17, 2012 SWEDISH clothing giant, Hennes & Mauritz yesterday posted a smaller than expected drop in like-for-like sales for November compared to same month last year, easing fears of large markdowns to reduce unsold stock amid weak demand in key markets. The retailer said local-currency sales at stores open a year or more shrank one per cent [...]
Vodafone’s second Ono takeover bid in deciding vote tomorrow March 11, 2014 SHAREHOLDERS of Spanish cable operator Ono will consider Vodafone’s second takeover bid tomorrow, understood to be an improved offer of between €7bn (£5.8bn) and €8bn. Last month Ono rejected Vodafone’s initial bid of €7bn, instead sticking to its original plan to pursue a public float. People close to the deal told City A.M. that Ono’s [...]
Apple iPhone 6 preview: The A to Z of what to expect ahead of the big launch event September 8, 2014 We’re finally here. It’s less than 24 hours before the not-so-secret but kind-of-secret launch of what everyone expects to be the iPhone 6 and Apple’s first wearable device. It’s going to be a big surprise if it turns out Tim Cook has something else up his sleeve considering the healthy doses of rumour and speculation [...]
Western retail business looks to Russian capital for new markets September 3, 2013 EUROPEAN retailers are increasingly shifting their focus eastwards, as Moscow becomes a top destination for shoppers and consumer spending. Mark Faithfull, the editor of Retail Property Analyst, said: “Moscow is the obvious starting point for international retailers looking to expand”. He added that while luxury products were the first to find the market, familiar brands [...]
Ono investors reject second Vodafone bid March 13, 2014 ONO SHUNNED Vodafone’s improved takeover bid yesterday as the Spanish cable operator continues to race forward with plans for an initial public offering (IPO). Ono’s shareholders – including investment funds Providence Equity Partners, Thomas H Lee Partners and Quadrangle Capital – voted to proceed with IPO plans over coming weeks, despite Vodafone’s offer which was [...]
Abercrombie & Fitch disappoints as same-store sales plummet August 22, 2013 ABERCROMBIE & Fitch reported comparable sales and profit far below Wall Street expectations yesterday, blaming a drop in store visits by shoppers, and the teen retailer said business will decline even more during the current back-to-school quarter. The company said comparable sales, which include online sales and sales at stores open at least a year, [...]
Hamilton top but not satisfied yet May 11, 2014 BRITAIN’S Lewis Hamilton stormed to the top of the Formula One drivers’ championship by winning his fourth straight race yesterday, but insists that he “struggled” with his Mercedes and can still get more from the car. Hamilton held off a late challenge from team-mate Nico Rosberg to win the Spanish Grand Prix in Barcelona, with [...]
Signet buys American jewellery chain Zale in deal worth $1.4bn February 19, 2014 SIGNET, the jewellery company behind H.Samuel and Ernest Jones, has strengthened its foothold in the US after snapping up smaller rival Zale for $690m (£414m). Signet said yesterday it has agreed to pay $21.00 per share in cash, a 41 per cent premium to Zale’s closing price on Tuesday. The deal, including Zale’s debt of [...]
Any Other Business – 10/02 February 9, 2014 Do you remember our story about Lucy Kuy, the City-based Catlin employee who turned to ITV’s Take Me Out to find true love? Well Kuy almost met her match on Saturday night when a fellow City-ite showed up on the show. London-based broker and East End-er Arry (yep, his parents decided to drop the H) [...]
Baby drama won’t hinder England bid March 13, 2014 ENGLAND’S quest to win a first Six Nations title in three years will not be hampered by the last-minute loss of prop and expectant father Joe Marler, according to head coach Stuart Lancaster. Marler was initially included in Lancaster’s starting XV to take on Italy tomorrow, but doubts over his ability to join his team-mates [...]