B&Q owner boosted by summer sun July 23, 2009 KINGFISHER, the owner of DIY chain B&Q, yesterday reported a surprise rise in like-for-like sales in the second quarter, as cash-strapped consumers snapped up summer accessories thanks to a spell of barbeque weather. Kingfisher, which also operates Castorama in France, said it grew its market share in the 10 weeks to 11 July, but that [...]
Esporta appoints new chief exec December 3, 2009 A retail expert is limbering up to become the new boss of health club group Esporta. Esporta said former Somerfield supermarket chief operating officer John Cleland would take over as chief executive from 14 December. Cleland, 44, has also held senior roles at DIY chain B&Q and US supermarket group Wal-Mart in the UK and [...]
BEST OF THE BROKERS November 17, 2009 BT GROUPJP Morgan downgraded BT to “neutral”, saying that the group delivered on earnings in its first-half, but that there is reduced upside and scope for positive surprises. This and the increased pension liability drove the downgrade to the broker’s valuation, with the target price dropping to 170p. It believes the pending pension review will [...]
Profits sizzle at B&Q as barbecue sales rocket June 2, 2009 WARM barbecue weather boosted sales at DIY chain B&Q in the first quarter, helping parent group Kingfisher report a 40 per cent jump in profits yesterday. The retailer said that profits in the 13 weeks to May 2 were £128m, smashing analyst expectations, which were around £34m lower. Chief executive Ian Cheshire said the group [...]
Profits sizzle at B&Q as barbecue sales rocket June 2, 2009 WARM barbecue weather boosted sales at DIY chain B&Q in the first quarter, helping parent group Kingfisher report a 40 per cent jump in profits yesterday. The retailer said that profits in the 13 weeks to May 2 were £128m, smashing analyst expectations, which were around £34m lower. Chief executive Ian Cheshire said the group [...]
THE TIPSTER DUBAI FEARS ARE BATTERING BRITISH BANKS November 29, 2009 THE shock announcement that Dubai World was unable to meet its debt obligations last week put intense pressure on stocks and currencies worldwide. Investors were concerned that British banks might have significant exposure to Dubai and the UK financial institutions got a battering. But with the uptrend of the latest bull run still intact, the [...]
HOW ENCOURAGING ARE THE EARLY PROFIT FIGURES FROM KINGFISHER? September 8, 2009 NICK BUBB PALI INTERNATIONAL “Next year may well be a big disappointment to fans of the ‘V-shaped’ recovery in the UK, but Kingfisher has a proven track record, balance sheet and self-help programme. We think it’s safe to push up our target price from 250p to 270p, given further upgrade potential on B&Q.” MATTHEW MCEACHRAN [...]
HOW ENCOURAGING ARE THE EARLY PROFIT FIGURES FROM KINGFISHER? September 8, 2009 NICK BUBB PALI INTERNATIONAL “Next year may well be a big disappointment to fans of the ‘V-shaped’ recovery in the UK, but Kingfisher has a proven track record, balance sheet and self-help programme. We think it’s safe to push up our target price from 250p to 270p, given further upgrade potential on B&Q.” MATTHEW MCEACHRAN [...]
Profits spike at Kingfisher September 8, 2009 KINGFISHER, Europe’s largest home improvement retail group, yesterday rushed out first-half profit figures following an administrative error, though the better-than-expected results cheered investors and sent its shares to a two-year high. The group, which owns B&Q in Britain and Castorama in France, said it expects to report an underlying pre-tax profit of between £285m and [...]
Profits spike at Kingfisher September 8, 2009 KINGFISHER, Europe’s largest home improvement retail group, yesterday rushed out first-half profit figures following an administrative error, though the better-than-expected results cheered investors and sent its shares to a two-year high. The group, which owns B&Q in Britain and Castorama in France, said it expects to report an underlying pre-tax profit of between £285m and [...]