Analyst Views: Can Kingfisher get back to growth after its latest results? September 11, 2013 KEITH BOWMAN HARGREAVES LANSDOWN The results are broadly in line with forecasts, with management, unlike the chancellor, still cautious and hesitant in proclaiming an economic recovery. Weather volatility has played a major part, whilst divergence in consumer confidence across its geographical footprint continues to impact. JAMES GRZINIC JEFFERIES There is little of surprise from [...]
Kingfisher cuts back on space to save on costs September 11, 2013 B&Q OWNER Kingfisher said yesterday it is to scale back or exit 18 of its stores across the UK as the DIY retailer looks for ways to ease its lease burden and boost profitability. Several retailers, including Topshop owner Arcadia, have been shedding stores as leases come up for renewal to reflect changes in [...]
Sports Direct smashes forecasts September 11, 2013 SPORTS DIRECT, Britain’s biggest sporting goods retailer, posted a big rise in sales yesterday as shoppers snapped up its cut-price deals and helped sustain a strong run for the shares that pushed the firm into the FTSE 100 index in this week’s reshuffle. The company, controlled by billionaire Newcastle United owner Mike Ashley, said trading [...]
Bottom Line: Hart’s turnaround plan sweetens shares September 11, 2013 AFTER a tortuous few years, things finally seem to be on the up for Thorntons. Shares may have dipped slightly yesterday but that was pure profit taking – to be expected after a 14 per cent rally earlier in the week after activist investor Crystal Amber upped its stake. Two years into his [...]
Thorntons gets taste of success as profit returns September 11, 2013 THORNTONS customers have rediscovered their sweet tooth as the chocolatier reported a return to profit yesterday, thanks to strong appetite from grocers and the launch of new products. Profit before tax and exceptional items jumped to £5.6m in the year to 29 June from £0.9m the previous year, the retailer said yesterday, beating City forecasts. [...]
Facebook hits a fresh high September 11, 2013 FACEBOOK shares rose more than three per cent to a new high yesterday, valuing the world’s largest social network at $106bn (£67bn), as investors focused on its recent mobile advertising advances ahead of a speech by its chief executive. The stock briefly hit $45.07 shortly after 2 pm on the Nasdaq – highs not seen [...]
J Crew hurt as margins drop September 11, 2013 US CLOTHING chain J Crew has seen earnings fall 21 per cent as lower margins hurt revenue growth. The chain, whose clothing is a favourite of President Barack Obama’s wife Michelle, reported a profit of $17.5m (£11.1m), down from $22m a year earlier. Revenue increased 6.4 per cent to $559.1m. However, gross margin fell to [...]
Arm boosted by Apple’s latest iPhone line up September 11, 2013 SHARES in semiconductor manufacturer Arm Holdings jumped four per cent yesterday, spurred by excitement surrounding Apple’s new smartphone lineup announced on Tuesday. Arm’s processors will be used in the new iPhone 5s that uses high end chips to power a phone with more than double the speed of the previous generation iPhone. Mike van Dulken, [...]
EU plans to phase out roaming charges in telecoms shake-up September 11, 2013 THE European Commission yesterday proposed a price cap on cross-border phone calls in Europe and asked for veto power over sales of mobile spectrum, as part of a fresh attempt to overhaul the bloc’s telecommunications sector. Other elements of the proposals include cutting red tape for operators with cross-border businesses, allowing providers to charge more [...]
Sales force cut at struggling BlackBerry September 11, 2013 STRUGGLING smartphone maker BlackBerry has cut dozens of sales staff from its US office in a sign of further decline in the company. BlackBerry has struggled in recent years to compete with rival smartphones from Apple and Google. On Monday it was reported that Fairfax Financial, BlackBerry’s largest shareholder, had approached several Canadian investment funds [...]
