Kesa Xmas sales dragged down by Comet January 19, 2011 Comet owner Kesa Electricals has reported a drop in sales due to “softer trading” at the UK chain caused in part by bad weather. Like-for-like sales across the group, which also owns Darty France, fell by four per cent, with sales at Comet down 7.3 per cent. Like-for-like sales at Darty fell 1.8 per cent, [...]
Asos sales beat forecasts January 19, 2011 British online fashion retailer ASOS forecast year profit in line with market expectations after sales growth accelerated in its third quarter. ASOS, which targets internet-savvy 16 to 34 year old women looking to emulate the designer looks of celebrities like Kate Moss, Sienna Miller and Alexa Chung but at a fraction of the price, said [...]
Land Securities plans new Scottish mall January 19, 2011 Land Securities, UK’s largest listed landlord and developer, said its new projects have seen strong new lettings and plans to start work on a retail development in Scotland due to growing demand. “The first quarter of 2011 is likely to see mixed news flow around the consumer and the economy, but we expect occupational demand [...]
Wetherspoon sales growth accelerates January 19, 2011 JD Wetherspoon has reported accelerating sales growth in the second quarter of its fiscal year and said it was confident of a reasonable performance in 2011. The pub operator, which has nearly 800 premises across Britain, said sales at pubs open more than a year rose by three per cent in the 12 weeks to [...]
Inflation hits eight-month high of 3.7 per cent January 18, 2011 A surge in oil prices drove consumer price inflation up far more than expected in December to an 8-month high of 3.7 per cent – well above the Bank of England’s own forecasts. The Office for National Statistics said the annual rate of CPI rose to 3.7 per cent in December from 3.3 per cent [...]
RBS sells Priory Group for £925m January 18, 2011 Royal Bank of Scotland has announced the long-awaited sale of the Priory Group, the care homes operator famous for its celebrity clientele, to buyout firm Advent International in a deal worth up to £925m. RBS had been in talks with several private equity and buyout firms over much of last year, and the sale marks [...]
Carphone sees earnings at top end of forecasts January 18, 2011 Carphone Warehouse, Europe’s biggest mobile phone retailer, expects full-year earnings at the top end of forecasts, driven by a strong performance at its US joint venture, it said. The group, which owns 50 percent of a venture with US electricals retailer Best Buy as well as a 47.5 per cent stake in Virgin Mobile France, [...]
GSK’s profit “wiped out” by legal charge January 18, 2011 GlaxoSmithKline will record a legal charge of £2.2bn for the fourth quarter, effectively wiping out its profit, as it settles further claims related to Avandia and sales practices. The charge equates to an after-tax cost of £1.8bn, more than the £1.45bn the drugmaker had been expected to make in net income during the three months [...]
SABMiller in Asia sales boost January 18, 2011 Brewing giant SABMiller beat forecasts with a three per cent rise in beer volumes in the last three months boosted by growth in Africa and Asia offsetting a fall in Colombia, hit by the heaviest rain for 50 years. The London-based brewer of Miller Lite, Peroni and Grolsch said y that beer price rises helped [...]
Cameron says bank bonuses not a “done deal” January 17, 2011 Prime Minister David Cameron said that he was still talking to banks about their bonuses and that big payouts at state-backed lenders were not a “done deal.” Asked about reports of a £2.5m payout for Royal Bank of Scotland chief executive Stephen Hester, Cameron said: “It isn’t a done deal … You will have to [...]
