Next shrugs off rain and beats profit forecasts August 1, 2012 SHARES in Next leapt almost seven per cent yesterday after the fashion retailer raised its profit guidance and beat targets for first-half sales growth, boosted by a stellar performance at its online Directory business. The company, which trades from over 500 stores in the UK and Ireland and nearly 200 stores overseas, said total sales [...]
ANALYST VIEWS | DOES NEXT WIN THE RETAIL OLYMPIC GOLD FOR ITS PERFORMANCE? August 1, 2012 KATE CALVERT SEYMOUR PIERCE While not quite a gold medal winning performance from the official Olympic supplier of clothing and homewares, Next has delivered a highly commendable one nonetheless, slightly above the top end of its guidance. Next is a well run and highly cash generative company. BETHANY HOCKING INVESTEC This statement is further evidence [...]
BlackRock hires executives in attempt to grow business August 1, 2012 FUND management giant BlackRock yesterday announced an expansion of its senior leadership team and the reorganisation of its investment unit as part of wider efforts to grow its business. The New York-based investment firm has added eight executives to its global executive committee, bringing the total to 21, according to an internal memo. BlackRock chief [...]
JCPenney to cut out staff August 1, 2012 STRUGGLING US retailer JCPenney is phasing out check-out counters in a bid to cut staff and boost profits. Chief executive Ron Johnson said the store aims to remove the counters by 2014, replacing them with self check-out machines. The beleaguered shop is also planning to replace traditional bar codes on price tags with high-tech radio [...]
Nokia shares leap on takeover talk August 1, 2012 Shares in Nokia rose by as much as 14 per cent yesterday on speculation that the ailing tech firm will be sold to Chinese electronics giant Lenovo. Lenovo swiftly dismissed the rumours, with a top executive calling the talk “a joke”. Nokia shares fluctuated wildly before closing up 2.5 per cent. “This must be a [...]
BMW boosted by exports August 1, 2012 Carmarker BMW shrugged off a weak European car market to post a smaller than expected drop in quarterly profits yesterday, highlighting the widening gulf between the continent’s export-oriented premium car makers and their ailing mass market rivals. Earnings before interest and tax were €2.27bn (£1.8bn), down 19 per cent from its all-time record second quarter [...]
E.ON closes oil power plant early August 1, 2012 Energy firm E.ON is to close its huge 1,380-megawatt oil-fired power plant on the Isle of Grain more than three years early because the station is no longer needed for power generation, the company said yesterday. The plant has been idle for the past two years as its role of providing back-up electricity at peak [...]
Wiggins: Sir? Forget that, Brad will do August 1, 2012 NATIONAL hero Bradley Wiggins insists he has no interest in a knighthood, virtually the only honour to still elude him after he triggered wild celebrations by sweeping to a fourth Olympic gold medal in the men’s cycling time trial yesterday. Wiggins beat world champion Tony Martin of Germany by a comprehensive 42 seconds over the [...]
If England don’t win this Test, they’re not the world’s best August 1, 2012 THIS second Test is the most important England have played for quite some time. South Africa are not going to be easy to beat and they comfortably won the first. The reality is we have to win this because the third Test is at Lords where the pitch is pretty flat; if South Africa want [...]
Rowers Glover and Stanning gain Britain’s first gold August 1, 2012 HEROIC rowing pair Helen Glover and Heather Stanning predicted a Team GB medal landslide at Dorney Lake after bringing Great Britain’s five-day wait for gold to a glorious end yesterday. The duo, who both only took up the sport four years ago, left Australia and New Zealand, who took silver and bronze respectively, trailing in [...]
