DIY expert nails the top job at Kingfisher September 10, 2014 Veronique Laury set to become only one of five female FTSE 100 chief executives FEW PEOPLE on this side of the Channel will have heard of Veronique Laury, but after renovating three houses of her own, the incoming chief executive of Europe’s largest retailer has knowledge of the DIY sector that goes beyond just the [...]
Sir Ian Cheshire bows out after seven years turning around the B&Q and Castorama owner September 10, 2014 KINGFISHER chief executive Sir Ian Cheshire announced yesterday he was to leave after seven years at the helm, having doubled pre-tax profits at the DIY chain and helped to steer it out of the recession. Sir Ian, who will be replaced by Castorama boss Veronique Laury, said that Kingfisher needed a chief executive to commit [...]
Skanska wins £600m Battersea Power Station building contract September 10, 2014 Skanska has been chosen as preferred bidder to redevelop the Battersea Power Station building, it emerged yesterday, in a major coup for the Swedish construction firm. The company is understood to have beaten Balfour Beatty, Lend Lease and Mace to win the estimated £600m job. A formal announcement is expected to be made within the [...]
House market recovery lifts Dixons’ sales September 9, 2014 DIXONS CARPHONE, the newly formed high street giant, said yesterday it had made a strong start to the year, with sales basking in the aftermath of the World Cup and benefitting from rising consumer confidence. Chief executive Sebastian James said that the recovery in the housing market helped to boost demand and that while consumer [...]
Hotel demand helps Whitbread sleep easy September 9, 2014 WHITBREAD said yesterday that sales sprinted ahead in the second quarter of the year as major sporting events such as the Commonwealth Games helped to boost trade at Premier Inn. The FTSE 100 leisure conglomerate, which also owns Costa Coffee, posted a 12.8 per cent rise in sales in the 11 weeks to 14 August, [...]
Analyst Views: Will you make any changes to your Whitbread forecasts following this update? September 9, 2014 WYN ELLIS | NUMIS We have increased our 2015 earnings before interest and tax forecast by three per cent to £508.6m on the back of yesterday’s very encouraging update… Management says that, Whitbread remains on track for another good year… We concur and expect the shares to respond positively. GEOF COLLIER | DEUTSCHE BANK Management [...]
Chapel Down gets taste for crowdfunding September 8, 2014 Chapel Down has turned to crowdfunding to raise up to £4m for its next phase of growth as Britain’s biggest wine-maker more than doubles in size. The Kent-based group, which makes sparkling and still wines as well as craft beers, said yesterday it is seeking to raise between £1m and £3.9m through Seedrs, the UK [...]
Associated British Foods nears deal for first Primark warehouse in the US September 8, 2014 ASSOCIATED British Foods said yesterday its clothing giant Primark was close to striking a deal for a warehouse in the US to support its first foray in the country. Primark is set to open a 70,000 square foot store in Boston in 2015, and it is also in talks to open a further nine shops [...]
Electrolux to take on US rivals with $3.3bn GE Appliances buy September 8, 2014 SWEDISH giant Electrolux confirmed yesterday it hs agreed to buy GE’s appliances business for $3.3bn (£2bn) in its biggest deal to date, boosting its US presence. Electrolux, whose brands include AEG, Zanussi and Frigidaire, is the world’s second-largest home appliances company with sales of SEK 109bn (£9.5bn) last year. Following the deal, the US will [...]
Retailers cheer as sales recover September 8, 2014 RETAIL sales picked up again in August, with the high street enjoying its strongest growth since January this year. Like-for-like sales rose by 1.3 per cent in August compared with same time last year and a 0.3 per cent dip in July, according to the latest data from KPMG and the British Retail Consortium (BRC). [...]
