JD Sports’ share price climbs as it posts another set of record results as profits soar April 14, 2016 JD Sports Fashion is showing rival Sports Direct how to do it: sales and profit have soared to record highs in the full year, with pre-tax profits leaping 45 per cent. The figures Sales at the group rose 20 per cent to £1.8bn in the year to 31 January, while profit before tax jumped to [...]
House of Fraser posts first profit in a decade April 13, 2016 House of Fraser has posted a return to profit for the first time since 2006, as the venerable department store business goes from strength to strength under its Chinese parent. The figures Sales were up 4.2 per cent to £1.3bn for the year to 30 January, with online sales up 26.8 per cent. They now account [...]
Tesco drags Sainsbury’s and Morrisons share price down too April 13, 2016 Tesco might have hoped for a better reaction to its news that it has returned to profit this morning than for investors to send its share price tumbling. Perhaps it was the relatively cautious statement given by chief executive Dave Lewis, or the fact that while profits were above consensus expectations, sales missed by a touch. Or [...]
City A.M. debate: Watch the key moments from our head-to-head between mayoral candidates Zac Goldsmith and Sadiq Khan April 13, 2016 Last night saw mayoral candidates Zac Goldsmith and Sadiq Khan go head-to-head to try and convince Londoners to vote for them come 5 May. The two MPs exchanged heated words over the issue of Islamophobia and claims of racism that have tainted the campaigns in recent weeks, with Goldsmith rejecting claims that he had be [...]
WH Smith’s reports double-digit profit growth in first half – and yes, adult colouring-in books are still a thing April 13, 2016 WH Smith has delivered strong first half results, with profit and earnings up double-digits and an improvement in high street sales. But investors appeared unimpressed: WH Smith's share price was down 4.1 per cent in morning trading. The figures The stationer reported group pre-tax profit of £80m for the six months to 29 February, up 11 [...]
Tesco’s share price drops as supermarket misses sales forecasts but beats consensus on profit April 13, 2016 Tesco's share price fell 4.7 per cent on the open this morning, despite the supermarket returning to profit and sales growth. The supermarket was the biggest faller on the FTSE 100 in early trading – and it was dragging some of its rival grocers down with it. [stockChart code="TSCO" date="2016-04-13 09:17"] The figures The troubled supermarket's [...]
FCA bans RBS Libor submitter from working in financial services April 12, 2016 The FCA has banned former Royal Bank of Scotland staffer and Libor submitter Paul White from working in regulated financial services again, saying it would have fined him £250,000 "were it not for White's serious financial hardship". White, who worked as a Japanese Yen (JPY) and Swiss Franc (CHF) Libor submitter, is "not a fit and proper [...]
Londoners, take note: There’s going to be a huge anti-austerity march from Gower Street to Trafalgar Square this Saturday April 12, 2016 Londoners, take note – there's going to be another huge anti-austerity march in the capital this weekend, with thousands of people being bussed in from around the country to demonstrate against the Conservative government's cuts. The March for Health, Homes, Jobs and Education will take place on Saturday 16 April, with participants meeting at Gower Street [...]
Sports Direct bags Oxford Street address for high end retailer Flannels April 12, 2016 Times might be tough for Sports Direct at the moment, but that isn't stopping the business splashing the cash – specifically on a shiny new property on Oxford Street. The premises, at 161-167 Oxford Street and 36 Poland Street, has been acquired freehold from CIP Property, a nominee of Aviva Investors for £108m. Sports Direct said [...]
Costa boss Chris Rogers to leave after 11 years as Royal Caribbean exec takes the ship’s wheel April 12, 2016 Whitbread's share price fell this morning, after the group revealed Costa managing director Chris Rogers is leaving the firm after just over a decade. Rogers, who joined Costa as financial director in 2005 before moving up to the top job in 2012, will step down from the board on 20 April, but will stay on until 1 July [...]
