AO World shares steady after update showing 40pc growth April 10, 2014 SHARES IN newly-listed fridge seller AO World steadied yesterday after the firm’s maiden trading update confirmed it was on track to deliver 40 per cent revenue growth. AO, which floated in February, has been routed this week along with other tech stocks in London and the US on fears that a bubble was forming within [...]
Tech rout slams UK online giants April 8, 2014 BRITISH technology shares were pummeled for a second day yesterday as waves of uncertainty surrounding the sector continued, despite a recovery across similar stocks in the US. The FTSE 100 dropped for the second day in a row, falling over 32 points to 6,590.69, hampered by the poor performance of tech stocks. The top tech [...]
UK tech stocks sink as US bubble fears hit market April 7, 2014 LONDON’S tech stocks stumbled yesterday after US jitters surrounding the sector late last week reached the City, having sent Asia’s tech stocks into freefall overnight. The FTSE 100’s three week rise abruptly ended as the index fell 72.7 points to 6,622.84 after a sell-off on a number of blue-chip tech stocks hurt investor sentiment. Microchip [...]
Expansion costs knock a fifth off profits at Asos April 2, 2014 ASOS boss Nick Robertson admitted yesterday that launching in China had been tougher than anticipated after start-up losses in the country and investment in expanding warehouses elsewhere dragged first half profits down by 22 per cent. The online fashion retailer made a pre-tax profit of £20.1m in the six months to 28 February compared with [...]
Analyst Views: Did Asos’ update change your outlook for the group’s strategy? April 2, 2014 JOHN STEVENSON | PEEL HUNT With significant global growth potential remaining and an earnings margin potential that is materially above current performance, we believe the recent sell-off provides a good buying opportunity, noting that a pick-up in more recent trading levels after a soft February are likely to provide a step up in sales momentum. [...]
What you need to know before the open April 2, 2014 European markets are set to open up this morning after positive data from the US. Corporate data House prices in March grew by 0.4 per cent, slower rate then previous months, according to the Nationwide building society. House prices are now 9.5 per cent higher than they were at the same point last year. Fashion [...]
Asos’ profit takes a hit as retailer announces £2.5bn sales goal April 2, 2014 Asos has announced a 22 per cent fall in profit before tax to £20.1m the six months to February, as heavy investment in customer proposition, infrastructure, personnel and capacity takes its toll. But expansion costs were expected by and for the fashion retailer, and Numis has described it as “loaded with investment for growth” this morning. [...]
Boohoo.com shares hit new low despite 62 per cent leap in sales March 31, 2014 SHARES in Boohoo.com fell briefly below their offer price yesterday for the first time since their market debut, despite the online fashion retailer reporting a jump in full-year revenues. The Manchester-based company had its first day of trading on 14 March and saw shares open at 85p – well above the offer price of 50p. [...]
Bottom Line: Chinese ambition trumps a market return March 31, 2014 ALMOST 25 years ago, a Hong Kong retail tycoon called Dickson Poon stunned London by taking a chance on Harvey Nichols – a fading department store in dire need of a makeover. Poon was one of the first to spot a trend that now seems obvious; the Asian shopper’s thirst for designer labels that has [...]
London Report: Mortgage lending data to shine light on housing boom March 30, 2014 MORTGAGE approval data for February, due out today, are likely to highlight more growth in the heated housing market. The figures will be closely watched after the Bank of England last week warned some borrowers may be overstretching themselves in the current fast-moving market. Purchasing Managers’ Index (PMI) data for manufacturing, construction and services published [...]