Target sees profits jump on credit card spending November 16, 2011 US discount retailer Target yesterday reported a forecast beating rise in third quarter profits. The company saw a 3.7 per cent increase in third-quarter profits, helped by solid spending and improvement in credit card spending at its stores. The company said that it earned $555m (£351.9m) or 82 cents per share, in the three-months to [...]
ABERCROMBIE & FITCH HIT BY HIGHER COSTS November 16, 2011 ABERCROMBIE & Fitch said yesterday that its third-quarter profits rose slightly but higher costs for materials such as cotton took their toll. Profits edged up to $50.9m (£32.2m) – lower than analysts’ forecasts, compared to $50m in the same period last year. Revenue rose nearly 22 per cent to $1.08bn from $886m.
EXPANDED MAREX SPECTRON CALLS ON BORIS FOR BISHOPSGATE MOVE November 16, 2011 WE ARE positive about the outlook for our business, said broker Marex Spectron when it unveiled its 83 per cent boost in operating profits on Tuesday night. No charitable donations were paid out during the year to 31 March – just dividends to shareholders of £5.3m – but all that changed as of yesterday, when [...]
Game shares slump 46pc on warning November 16, 2011 GAME Group shares tumbled 46 per cent yesterday after it warned it will not hit its full-year targets. The video games retailer was relying on the release of blockbuster titles including Modern Warfare 3, Battlefield 3 and Skyrim to give it a much-needed boost in the run up to Christmas but those hopes appear to [...]
ANALYST VIEWS: HOW BAD ARE GAME’S RESULTS? November 16, 2011 DAVID JEARY | INVESTEC Software launches are going well, but tailing off faster than historically, and with no new hardware coming through and an obviously weak consumer market, we are placing our forecasts and recommendation under review, despite solid progress on the strategic initiatives. JON JACKSON | KILLIK & CO Major software titles are launching [...]
Infineon sees gloomy 2012 as consumer demand remains low November 16, 2011 German chipmaker Infineon said its full-year revenue would likely fall, hit by a slowing economy and growing caution among customers in industrial and chip card markets. The company, which makes chips for products ranging from cars to electronic passports, said it expected revenue to be a mid-single digit percentage below last year. It also lowered [...]
Vivendi sees boost from new releases November 16, 2011 BLOCKBUSTER video game sales gave a power up to French conglomerate Vivendi, with a blistering Christmas period already guaranteed thanks to its record breaking Modern Warfare franchise. Its Activision games unit saw a year-on-year jump in profits for the first nine months of 38.6 per cent, with revenues up 4.8 per cent. The firm said its [...]
CWW’s chairman snaps up stock after price collapse November 16, 2011 CABLE & Wireless Worldwide (CWW) chairman John Barton has snapped up £23,000 worth of shares in the company after its dramatic price collapse yesterday. The company tanked after reporting losses of £443m – fueled by writedowns of more than £620m – and said it planned to scrap its dividend. Chief executive John Pluthero – who [...]
Reed Elsevier says it is on track November 16, 2011 Anglo-Dutch publishing and events group Reed Elsevier has posted a one per cent rise in underlying sales for the first nine months of the year and said macroeconomic uncertainty had only a marginal effect on its results. Each of its five business areas showed underlying growth, excluding the effect of trade shows that happen every [...]
Auto Trader cash for Guardian November 16, 2011 Guardian newspaper owner GMG is set to collect a dividend of some £45m from its stake in motoring classifieds business Auto Trader. GMG will share a bumper pay-off with co-owner Apax Partners, which bought its stake from GMG in 2007. The cash will be welcomed by the media group, which has struggled to climb into [...]
