WH Smith posts profit boost despite a slide in sales on the high street April 16, 2015 Stationery chain WH Smith reported a four per cent rise in half-year profits even as sales fell on the high street, after winning new contracts to open travel outlets overseas. The retailer, which has 740 travel outlets and 621 high street stores, reported pre-tax profits of £72m in the six months to the end of [...]
Hipster bonanza: Etsy’s shares have gone berserk after its IPO April 16, 2015 It turns out hipster craft site Etsy is as popular with New York's clued-up investors as moustache wax and skinny jeans. Shares in the site, which launched its IPO today, have more than doubled, to $33. That's a stonking start for the company, which has been much-mocked with sites such as the now-closed Regretsy. Having [...]
Goldman Sachs just a posted stellar set of first quarter results April 16, 2015 Investment bank Goldman Sachs kicked off earnings season Stateside with a strong set of first quarter results, thanks to a flurry of trading by its fixed-income and currencies desks. The bank beat expectations with earnings of $2.75bn (£1.84bn), or $5.94 per share, in the three months to March. Analysts polled by Reuters had been expecting $4.26 [...]
Morrisons share price falls as new boss David Potts cuts jobs at head office to hire 5,000 shop floor staff April 16, 2015 Morrisons is cutting hundreds of roles in its head office while simultaneously going on a hiring spree for its shop floor. The troubled supermarket, which last month revealed full year losses of £176m and brought in a new chief executive after Dalton Phillips left under a cloud, is expecting to make 720 head office roles [...]
Weak euro helps Unilever deliver better-than-expected sales growth April 16, 2015 The figures The slowdown in emerging markets hasn't stopped Unilever from recording a 12.3 per cent increase in turnover to €12.8bn (£9.22bn) in the first quarter of 2015. Even when your economy isn't growing as rapidly as it once did – looking good still remains a priority. Shares rose by over three per cent in [...]
Debenhams share price rises on surprise profit rise ahead of forecasts April 16, 2015 The figures Pre-tax profits at Debenhams were up 4.3 per cent to £88.9m during its first half, ahead of analysts expectation of profits remaining flat on last year's £85.2m. Group statutory revenue was up 1.6 per cent to £1.3bn. Group like-for-like sales were up 1.3 per cent for the 26 weeks to 28 February. The retailer also [...]
Mothercare share price shoots up with turnaround on track despite currency headwinds April 16, 2015 The figures Mothercare improved sales at home and abroad in the fourth quarter, but currency headwinds are still blowing. In the UK sales inched up 1.5 per cent on the same period last year, a turnaround from consecutive declines in previous quarters and like-for-like sales were up 5.1 per cent after a 4.5 per cent [...]
Life is short. Have an affair: Infidelity site AshleyMadison.com in attempt to woo London bankers April 15, 2015 A controversial dating website which helps married people cheat on their spouses has unveiled plans to list in London due to the capital’s “laissez-faire” attitude to extra-marital affairs. Canada-based AshleyMadison.com – which has the slogan “Life is short. Have an affair” – said it wants to raise $200m (£135m) through a listing later this year [...]
Bank of America cuts costs to get back in the black April 15, 2015 Bank of America swung back to profit in the first quarter of the year as diving costs offset a small fall in revenues to improve the giant lender’s fortunes. Profits came in at $2.98bn (£2bn) for the quarter, compared with a loss of $514m in the same period of 2014. Revenues slid six per cent [...]
Legal & General paid chief Nigel Wilson £4.2m last year April 15, 2015 Insurance boss Nigel Wilson made £4.2m in 2014, up from £4m the year before. The total remuneration received by Wilson, who heads up insurance and investment group Legal & General, included a base salary of £808,000 and also £2m from a three-year performance share plan which vested last year. To qualify for the full [...]