John Lewis is upbeat on 2012 March 7, 2012 THE CHAIRMAN of John Lewis has predicted a modest recovery for retailers this year despite unveiling a sharp fall in annual profits. Charlie Mayfield told City A.M. the sector would shift from “decline to growth” this year following a “bloody difficult” 2011. He added: “I’m not in any way underplaying how serious the challenges are. [...]
Price matching was expensive but worth it March 7, 2012 NEVER knowingly undersold. It has been the guiding principle behind the John Lewis offering since 1925. Despite this the group still has an upmarket image, as exploited by a famous Dixons advert in 2009. “Step into middle England’s best loved department store… where an awfully well brought up young man will bend over backwards to [...]
CITY VIEWS: WHY IS JOHN LEWIS BEATING THE HIGH STREET? March 7, 2012 ANMOL CHIBBER | DZ BANK “It attracts the higher end of the market. The rich are getting richer while the poor are getting poorer. It is also known for its quality, service, and matching prices.” MICHAELA MORAN | BANK OF AMERICA “People know what they are buying at John Lewis. It’s reliable. You know you [...]
THERE’S NEVER A BAD TIME FOR BORIS TO ASK FOR CASH March 7, 2012 BORIS Johnson likes to make much of the fact that he has convinced the private sector to give him oodles of cash. Barclays gave £25m to help pay for his Boris bikes while Emirates, the airline, will pay £36m over the next ten years to sponsor the Thames cable car. But his method of extracting [...]
LEIGH PEMBERTON TO GO ON AND ON March 7, 2012 RIvals across town, who have forever been envious of Credit Suisse star banker James Leigh Pemberton’s brains, good humour and especially his contacts, have been talking wishfully about his possible early retirement. “Not so,” says the great man to The Capitalist, when asked the direct question. “It ain’t happening. I haven’t got anything better that [...]
Sale of BMI takes its toll on Lufthansa March 7, 2012 DEUTSCHE Lufthansa posted a net loss of €13m (£10.86m) in 2011, after taking a larger-than-expected charge on the sale of its British Midland unit. British Airways owner IAG in December agreed to buy Lufthansa’s British Midland for £172.5m in the race to grab the loss-making unit’s coveted runway slots at London Heathrow. A loss of [...]
Olympics to boost London businesses March 7, 2012 THE OLYMPICS will lead to a business boom for London as the city is showcased to heads of states who will use their visit as a diplomatic opportunity, insisted the Department for Transport’s London director Jonathan Sharrock yesterday. Deloitte director Mark Naysmith said: “Two weeks before the Athens Olympics the smell of fresh paint lingered [...]
Funeral firm Dignity posts a year of steady growth March 7, 2012 FUNERAL company Dignity said death and taxes had helped it grow last year, after it posted a 1.3 per cent rise in pre-tax profit to £40.3m. The firm, which conducts more than one in every ten funerals in the UK, said its tax bill had dropped from £10.8m to £6m in the year, mostly thanks [...]
HOLIDAY AT HOME IN 2012 March 7, 2012 VISITENGLAND, the national tourist board, yesterday launched a campaign aimed at boosting domestic tourism in the UK. Its TV advert, which airs today for the first time, features actress Julie Walters (pictured), and is aimed at showcasing the special 20.12 per cent discount deals on offer on attractions and accommodation during the Olympic year. Picture: [...]
Bill Gates puts music sales service online March 7, 2012 BILL GATES has stepped into the online song sales market by launching his music licensing business, GreenLight, as an internet service which could evolve to rival iTunes. GreenLight, the three-year old entertainment rights vendor, has ventured online with the backing of music giants Warner, EMI, Universal and Sony ATV and already has a portfolio of [...]
