ANALYST VIEWS: HAS THE PROFIT WARNING AFFECTED YOUR OUTLOOK? February 8, 2012 JOHN STEVENSON | PEEL HUNT Retail sales were in line with forecasts and little changed from the Christmas interim management statement, with wholesale on track for second half expectations. Given the relative unimportance of January trading and weak fourth quarter comparatives ahead, we were therefore surprised management took the opportunity to cut profit-before-tax guidance to [...]
Amazon library of TV grows on Viacom venture February 8, 2012 AMAZON has joined forces with Viacom to bring a range of TV shows to its customers, marking the latest advancement in the internet giant’s online streaming battle with Netflix. Amazon Prime members will be able to stream thousands of episodes from the American media conglomerate – including MTV’s Jersey Shore, Comedy Central’s Chappelle’s Show, and [...]
Four bidders in the battle to save Peacocks February 8, 2012 ADMINISTRATOR KPMG has received four second-round bids to buy the collapsed retailer Peacocks – or parts of it – out of administration, it is understood. Edinburgh Woollen Mills is thought to be one of the bidders still in the running, while Pakistani textiles tycoon Alshair Fiyaz also emerged as a surprise bidder this weekend. KPMG, [...]
Virgin Media posts its first annual profit February 8, 2012 FIVE years after it was launched with an estimated £20m branding exercise, 13 giant poster sites around Britain and a television ad campaign voiced by Uma Thurman, Virgin Media has swung into the black for the first time. The cable operator posted net income of £75.9m, its first annual profit since it was launched in [...]
DMGT revenue up despite ad spend decline February 8, 2012 BRITISH newspaper group Daily Mail & General Trust (DMGT) said yesterday that overall revenue for the quarter rose two per cent at £495m, boosted by reinforcement in its digital areas. Although the company said its trading was broadly in line with expectations, it also said a decline in advertising revenues at its national titles accelerated [...]
BNY MELLON ANNOUNCES BOAT RACE MERGER February 8, 2012 CHANGE IS afoot for one of the UK’s most traditional sporting fixtures, after Bank of New York Mellon yesterday stepped in to sponsor The Boat Race. For the first time from 2015, the women’s event, whose sponsorship by BNY Mellon company Newton Investment Management remains unchanged, will leave Henley to take place on the same [...]
Thomas Cook puts India arm on sale as losses rise February 8, 2012 THOMAS COOK said yesterday it has managed to hold onto market share with winter and summer bookings “broadly stable”, despite reporting widening losses as it struggles to rein in its financial woes. The holiday firm, which was rescued by its banks after a cash crisis late last year, said underlying operating losses had more than [...]
EasyJet wins bonus support February 8, 2012 EASYJET’S war of words with major shareholder Sir Stelios Haji-Ioannou shows no signs of a cease-fire as the no-frills airline approaches its shareholder meeting later this month. The carrier yesterday welcomed support from the Association of British Insurers and investor group ISS for its executive pay package. Advice from these influential groups gives easyJet a [...]
SALES SOAR ACROSS RALPH LAUREN BRANDS February 8, 2012 DESIGNER Ralph Lauren reported better-than-expected results for the holiday quarter yesterday, helped by double-digit sales growth at its own stores as well as increased sales to department stores. Ralph Lauren, with brands ranging from mid-tier basics to high-end luxury labels such as Polo, Club Monaco and Chaps, said revenue rose 17.2 per cent in its [...]
Emerging markets push comes too late February 8, 2012 WHEN times get tough, branded products are the first things to go. British consumers know there is little difference between Fairy and a supermarket’s own-label washing up liquid. The trend is more pronounced among younger consumers, who will protect luxuries such as their iPhone and designer clothes by buying staples from the supermarket economy ranges. [...]
