ASOS looking swish with 19pc increase in quarterly sales March 12, 2015 ASOS, the online clothing retailer, reported a fashionable 19 per cent increase in sales to £290.1m, up from £244m last year, for the three-month period to 28 February. The better-than-expected performance was a welcome relief for the firm after a difficult 2014 forced it to issue a string of profit warnings as shares plummeted and [...]
Hugo Boss sales target scrapped on low spending March 12, 2015 High-end German fashion house Hugo Boss yesterday scrapped its sales target for 2015 because of slower spending in Europe, the US and China, sending its shares lower. Like other companies targeting more affluent customers, Hugo Boss has been hit by lower spending abroad by Russian and Chinese shoppers. Its original revenue target of €3bn (£2.15bn) [...]
Morrisons could cut dividend as earnings slump March 12, 2015 THE DAUNTING task facing the new boss of Morrisons was illustrated on yesterday when UK’s fourth biggest supermarket reported its lowest annual profit in eight years and warned investors it would cut its dividend. The profit slump, a third straight decline, reflects Morrisons’ decision last year to spend £1bn on price cuts over three years [...]
Cineworld profits double: Fifty shades of payday for movie theatre chain March 12, 2015 Cineworld’s annual pre-tax profits more than doubled to £67.3m, despite a decline in 2014 box office sales. The UK’s largest cinema chain had revenue up by 52.5 per cent to £619.4m, up from £406.1m, in the 53-week period ending 1 January 2015. Chief executive of Cineworld, Moshe “Mooky” Greidinger, said it had been a hard [...]
Analyst Views: How does the future look for Morrisons its under new leadership? March 12, 2015 DARREN SHIRLEY | SHORE CAPITAL Without material leasehold obligations compared to its peers, and a comfortable pension position, we see the group as being in a relatively favourable position to commence shareholder friendly initiatives in the medium to long term. Shore Capital reiterates our “buy” stance on Wm. Morrisons shares. DAVID STODDART | EDISON INVESTMENT [...]
Euro industrial production in slow recovery March 12, 2015 INDUSTRIAL production growth in the Eurozone declined at the start of the year despite a weaker euro and cheaper oil prices. Industrial production dropped by 0.1 per cent in January compared with December, according to figures released yesterday by Eurostat. Less volatile, longer-term numbers were healthier, showing 1.2 per cent growth year-on-year. Additionally, December’s monthly [...]
Cheaper oil takes trade deficit to lowest level for over 14 years March 12, 2015 The UK’s trade deficit has dropped to its lowest level since 2000, official figures show. The UK imported £600m more than it exported in January, according to data released yesterday by the Office for National Statistics (ONS). It compares to the £2.1bn trade deficit in December. Around half of this fall was due to a drop [...]
Antofagasta in water deal with Los Pelambres mine protestors March 12, 2015 Shares in mining firm Antofagasta were up by 1.36 per cent yesterday, after it announced an agreement had been reached with protestors who were blocking access to its operation at the Los Pelambres mine in Chile. Normal operations are set to resume in the next few days. Protests have been ongoing at the site since [...]
Mulberry ends year-long chief exec search with Thierry Andretta March 12, 2015 MULBERRY has appointed Thierry Andretta as its new chief executive, ending a year-long search to replace Bruno Guillon, who stepped down following falling share prices and several profit warnings. Andretta joined the luxury handbag company last year as an independent non-executive director and has recently been engaged as a consultant to assist with reviewing Mulberry’s [...]
Lenta profits up despite Russian economy slump March 12, 2015 Ruassian retailer Lenta has defied the massive downturn in the country’s economy to see profits rise by a third in the 12 months to 31 December. The retail chain expects to continue growing at this pace for the duration of 2015 despite the ongoing fallout from the rout in oil and western sanctions. Sanctions have [...]
