Asos boss denies bid talks as the retailer posts soaring profit October 25, 2012 ASOS boss Nick Robertson yesterday dismissed talks of a bid by Amazon after the online fashion firm posted soaring sales abroad. He poured cold water on speculation that he had met with Amazon boss Jeff Bezos saying “I have not spoken to Amazon in three years.” The retailer, which has changed its year-end from March [...]
Asos posts soaring profits October 25, 2012 Fashion retailer Asos this morning posted pre-tax profits of £44.5m in the year to August, up from £31.7m the year previously. Retail sales at the AIM-listed retailer rose to £538m over the year, with UK sales edging up to £205m. It posted a strong performance in overseas markets, and international sales were up 64 per [...]
Why investors should take a stake in high-growth UK tech companies October 22, 2012 THE campaign to reawaken the London tech initial public offering (IPO) market has kicked off. Recent announcements from Downing Street and the London Stock Exchange should result in some small but important regulatory changes. They are important steps towards making London a major hub for tech IPOs. But regulation is not the only barrier to [...]
UK set to celebrate the official end of the recession after Games boost October 21, 2012 THE UK is this week expected to officially exit recession, with news from the Office of National Statistics set to confirm the double dip is over. The ONS will publish its first estimate of third quarter GDP, with analysts predicting impressive growth, due in part to the Olympics. Howard Archer, of IHS Global Insight, said: [...]
Best of the Brokers October 16, 2012 ASOS Morgan Stanley has started covering the online retailer with an “overweight” rating and a target price of 3,000p, cheering the firm’s superior sales offering and entrepreneurial management team. BT The telecoms group is Nomura’s top pick in the sector, with a “buy” rating and a price target of 260p. BT is set to benefit [...]
Analysts give mixed welcome as Bostock joins Asos board October 10, 2012 ANALYSTS yesterday welcomed the long-anticipated announcement that Asos has hired Kate Bostock to join its ranks but questioned whether the former Marks & Spencer executive would fit into the online retailer’s culture. Asos confirmed that Bostock, would join its board in January as executive director, product and trading. Bostock stepped down from her role as [...]
M&S clothing head joins Asos October 10, 2012 AIM-listed fashion retailer Asos this morning confirmed the appointment of ex-Marks & Spencer executive Kate Bostock. Bostock, former head of general merchandise at M&S, will join Asos in January as executive director for product and trading. Bostock announced her departure from M&S in July after a period of poor trading, although she did not officially [...]
What the other papers say this Morning October 9, 2012 FINANCIAL TIMES Channel Islands unite over deficits Guernsey and Jersey are setting aside centuries of rivalry to defeat a common foe: the budget deficit. Senior politicians on the two islands, which have struggled to balance their books since the onset of the financial crisis in 2008, are considering radical moves to combine public services, including [...]
Best of the Brokers October 9, 2012 CAPITA Seymour Pierce has downgraded the FTSE 100 professional services company from “buy” to “hold” saying “there was not enough new information at the investor day presentation to warrant an increase in our target price”. The broker added that it was “ disappointed to hear international expansion does not feature greatly in the company’s plan”. [...]
Former Amazon UK head set to take Asos chair October 1, 2012 ONLINE fashion retailer Asos revealed yesterday it has hired the former managing director of Amazon UK to be its new chairman, replacing Waheed Alli, who will step down after 12 years with the firm. Brian McBride, who spent six years at the helm of Amazon’s UK business, will succeed Lord Alli at the beginning of [...]