Shard could signal crisis, claims BarCap January 11, 2012 THE DEVELOPERS of the Shard skyscraper could be forgiven for having pre-completion nerves yesterday, after a pair of gloomy research papers cast a pall over the tower. The Shard will be entering a rough rental market when it completes in May, according to research by BNP Paribas Real Estate. Last year, take-up of office space [...]
Michael Page looks abroad January 11, 2012 RECRUITMENT company Michael Page is to go ahead with plans to enter more emerging markets where it sees long-term growth opportunities, it said yesterday as it reported that growth slowed further in the fourth quarter. Michael Page said that, while being mindful of a tough global economy that has rapidly stunted growth levels over the [...]
The proof is in the pudding at Sainsbury’s January 11, 2012 J SAINSBURY has reported a record Christmas despite the gloomy economic backdrop, as cash-strapped customers treated themselves during the festive season. Britain’s third largest supermarket said like-for-like sales excluding fuel and VAT and rose 1.2 per cent in the third quarter to 7 January, above analysts’ consensus of 0.9 per cent. The grocer reported 26m [...]
ANALYST VIEWS: HOW DID SAINSBURY’S FARE AGAINST RIVALS? January 11, 2012 PHILIP DORGAN | PANMURE GORDON A continued strong performance from Sainsbury… we believe that it continues to be underestimated by the market. True, its reported sales growth period is longer than for Morrison… but we believe that it had a good Christmas. KEITH BOWMAN | HARGREAVES LANSDOWN In all, Sainsbury has again surprised on the [...]
LITTLE CHEF MAKES BIG CLOSURES January 11, 2012 Restaurant chain Little Chef is to close 67 of its outlets in a move expected to cost up to 600 jobs. Its owner RCapital, which rescued the chain in 2007 and hired Heston Blumenthal to revamp its image as part of a Channel 4 show, said the closures were “essential” to allow the firm to [...]
Supergroup posts robust sales growth January 11, 2012 SUPERGROUP, the company behind Superdry fashion label, has reported robust trading during the Christmas period as it held off from discounting its clothing and put warehousing problems firmly behind it. The group, which has expanded to 70 stores in the UK including a new store opening on Regent Street, said like-for-like sales increased by 5.8 [...]
Greggs boosted by mince pies January 11, 2012 Baker Greggs posted better-than-expected sales over the Christmas and new year period as shoppers snapped up record numbers of sweet mince pies, festive bakes and giant gingerbread men. The Newcastle-based firm, which also sells bread, sandwiches and to over 6m customers a week, said sales at stores open over a year jumped 5.1 per cent [...]
Sales boost at Fortnum & Mason January 11, 2012 Fortnum & Mason, the world-famous food emporium, has posted record sales for the full year to 17 July 2011, despite shouldering hefty costs after it was targeted by Uncut protesters for tax evasion last year. The group said sales rose by eight per cent to £54.9m compared with £50.9m the previous year, boosted by strong [...]
Promotions help N Brown grow January 11, 2012 N Brown, the British internet and catalogue home shopping firm, returned to sales growth in the run-up to Christmas, though to achieve this it had to step up promotions. The Manchester based company, which targets mature and larger customers, said yesterday its revenues increased by 2.3 per cent in the 19 weeks to 7 January, [...]
Trade deficit up as exports decline again January 11, 2012 EXPORTS fell and imports rose in November, reversing October’s positive figures and suggesting trade is not giving a strong boost to the UK economy, according to data released yesterday by the Office for National Statistics (ONS). Goods imports rose by £381m in the month to £34.84bn, while exports fell by £395m to £25.74bn. The deficit [...]
