Warm weather boosts Primark as it buys Pavilions shopping mall July 10, 2014 Associated British Food (ABF) said yesterday that Primark’s acquisition of Pavilions shopping centre in Birmingham to house a four-floor store was “an exception to the rule” as it posted a fresh set of soaring sales. Finance director John Bason said the deal would pave the way for a 150,000 square feet store in around two [...]
Halfords speeds ahead as sales given boost from Tour de France July 10, 2014 Chris Froome and Mark Cavendish might have crashed out of the Tour de France, but sales at Halfords have raced ahead. The bike-to-car parts retailer yesterday posted a 7.9 per cent jump in like-for-like retail sales in the quarter to 27 June thanks to “exceptional” sales in cycling, which surged 21.3 per cent. Chief executive [...]
Fat Face puts IPO in past with record sales July 9, 2014 Fat Face said yesterday it had put its botched flotation plans behind it for now and that it was “business as usual” after the retailer delivered record full-year sales and profits. After an impressive start to the year, London’s new issues market balked at the sheer number of companies coming to the market, prompting Fat [...]
Justin King bids farewell to Sainsbury’s after 10-year reign July 9, 2014 Justin King bade farewell yesterday after 10 years as chief executive of Sainsbury’s, reassuring shareholders at the annual meeting in Westminster that the retailer was well equipped for the future and that he was leaving the business “in safe hands”. His successor Mike Coupe paid tribute, describing King’s “passion” and dedication as an inspiration. Chairman [...]
Galliford Try to deliver record full-year profits July 9, 2014 GALLIFORD Try is set to report a record full-year profit driven by its housebuilding arm, which continues to benefit from the strengthening UK housing market. The FTSE 250 group said yesterday that pre-tax profits are likely to be at the upper end of analysts’ range of £92.8m to £95.2m when it reports in September. That [...]
Marks & Spencer asks for more time as new website hits sales July 8, 2014 Marks and Spencer boss Marc Bolland yesterday called for more time for the effects of the retailer’s website overhaul to take effect after the high street stalwart posted its 12th consecutive quarter of falling non-food sales. The 130-year-old retailer broke away from its technology supplier Amazon and launched its own custom-built £150m website in February, [...]
The Marks & Spencer AGM: Shareholders vent frustration as promises fail to deliver July 8, 2014 “We'll be home by Christmas!” That tragically optimistic prediction made by soldiers marching off to war in 1914 jumped to mind yesterday when Marks & Spencer boss Marc Bolland stood up in front of shareholders at a hall within Wembley Stadium and pledged to have the website returning to growth in time to enjoy [...]
Blackstone poised to buy City watchdog’s Canary Wharf HQ July 7, 2014 PRIVATE equity giant Blackstone is poised to buy the Financial Conduct Authorities headquarters in Canary Wharf in a deal thought to be worth around £165m. The company is understood to have placed 25 North Colonnade under offer for around £15m below the initial price set by its owners Evans Randall when it was placed on [...]
Burberry to push ahead with pay proposal amid fall in share price July 7, 2014 BURBERRY is expected to push ahead with a vote on Friday to award its new chief executive Christopher Bailey a £20m-plus pay deal after opposition from one of the UK’s biggest shareholder bodies hit shares yesterday. Burberry’s share price fell two per cent yesterday after the Investment Management Association put an “amber top” rating on [...]
Taylor Wimpey backs stricter mortgage rules July 7, 2014 Taylor Wimpey yesterday welcomed new Bank of England rules to temper the housing market as “a positive move” as the housebuilder delivered a strong first half of the year. The group said a strengthening housing market helped sales rates and prices of its new homes come in at the top end of forecasts, while operating [...]
