Mild autumn boosts profit at Kingfisher December 1, 2011 KINGFISHER posted better-than-expected third quarter profits yesterday, after the unseasonally mild autumn weather helped boost sales at the retailer’s stores in the UK and France. Europe’s biggest DIY company, which runs over 800 stores across the continent, posted a 13.9 per cent rise in operating profit to £273m in the the 13 weeks to 29 [...]
DO KINGFISHER’S RESULTS SIGNAL GOOD NEWS FOR THE FULL YEAR? December 1, 2011 RICHARD HUNTER| HARGREAVES LANDSDOWN Kingfisher has significantly exceeded estimates and the share price rewarded accordingly with a strong early hike… Even prior to this strong update, the shares had had a good run over the last three months. Today’s numbers seem unlikely to dampen this optimism, with the general market view of the shares as [...]
Banks warn that Vickers has underestimated cost of reform December 1, 2011 ROYAL Bank of Scotland and Santander reckon the official cost estimate of the Vickers reforms are too low, according to documents published yesterday by the House of Lords. The Independent Commission on Banking’s estimate that the changes it proposed in September to avoid another banking bailout will cost the industry between £4bn and £7bn “are [...]
Greene King enjoys strong profits boost December 1, 2011 GREENE King, the pub owner and brewer, yesterday reported higher half-year profits, after benefiting from an upturn in trading as consumers continued to eat out in their local pubs. The 212-year-old firm, which runs 2,410 pubs and restaurants including the Loch Fyne seafood chain, said the consumer environment remained tough, with cost inflation rising ahead [...]
BAT starts court fight over brand-free cigarette packets December 1, 2011 BRITISH American Tobacco (BAT) yesterday launched a High Court challenge against an Australian law that will require plain packaging of cigarettes from December 2012, saying it infringes intellectual property rights. This legal action comes just days after tobacco giant Phillip Morris sued the government over this plan, which will require all cigarettes to be sold [...]
COACH DISAPPOINTS IN HONG KONG DEBUT December 1, 2011 US luxury handbag maker Coach dropped in its trading debut in Hong Kong yesterday as thin volumes in its depositary receipts limited their appeal to local investors. The company’s Hong Kong depositary receipts (HDR), each representing one tenth of Coach’s common stock, closed at HK$48.50, a decline of 0.5 per cent, while the Hang Seng [...]
SABMiller acquisition of Foster’s given green light by shareholders December 1, 2011 SHAREHOLDERS in Foster’s Group overwhelmingly backed SABMiller’s A$9.9bn (£6.4bn) acquisition deal in a vote yesterday, giving the takeover the go-ahead. Ninety-nine per cent of shareholders voted in favour of the acquisition by the beer company behind Castle, Grolsch and Miller Lite, which was given the green light by the Australian government on Sunday. The bid [...]
Tesco makes new push into online movies December 1, 2011 CUSTOMERS who buy a DVD from Tesco will also be able to watch the film online in a new venture launched by video-on-demand website Blinkbox and the supermarket giant. This is the first time a major retailer has bundled a material product with its digital version, in a sign that DVDs are becoming increasingly obsolete. [...]
CITY VIEWS: WOULD YOU SHOP IN THE CITY AT WEEKENDS? December 1, 2011 LUCY DILLAWAY | CALYX “I would if the trains were working. I live in East London, and the DLR is not always on. The trains aren’t consistent on the weekend, so it’s hard to come in. I’ll shop near home or online instead.” NICKY DOCKREE | AWD “Normally I’d go to the West End to [...]
City shops open their doors to weekend trade December 1, 2011 IN a push to encourage shopping in the City, the Royal Exchange and Leadenhall Market will open this Saturday and Cheapside will be pedestrianised. This will be the first time Cheapside has been open for business on a weekend in over a century. Over 150 stores will be trading, with many offering discounts and complimentary treats [...]
