Wal-Mart sales still slide February 22, 2011 WAL-MART yesterday posted its seventh consecutive quarterly drop in sales at established US stores and said it will take some time to turn things around in its biggest market. The world’s largest retailer, whose shares closed down 3.1 per cent, has struggled with pricing as it has lost customers to cheaper stores while recovering from [...]
Milestone as velodrome is unveiled February 22, 2011 THE 2012 Games may still be more than 550 days away, but London officially received its first Olympic venue yesterday when the velodrome was declared open. British cycling stars Sir Chris Hoy, who helped to design the 6,000-seat venue, and Victoria Pendleton were in attendance at the Olympic Park in Stratford for the unveiling. The [...]
Home Depot income beats expectations February 22, 2011 THE WORLD’S largest home-improvement retailer, Home Depot, has posted sales of $15.1bn (£9.3bn) in its fourth quarter results. Analysts had predicted lower revenues of $14.8bm. The US firm, which operates 2,248 retail stores worldwide, also updated its profit forecasts for this year on the back of the stronger than expected performance. It said it now [...]
Bopara digs sorry England out of a crisis February 22, 2011 ENGLAND captain Andrew Strauss admitted his side got out of jail after Holland came within a whisker of causing a major World Cup upset. Ryan ten Doeschate’s magnificent 119 helped Holland set a challenging target, boosted by some woeful bowling and comical fielding, of 293. Strauss led from the front in response with 88, but [...]
Shares fall for HP after weak result February 22, 2011 HELWETT-PACKARD failed to meet investors’ sales expectations, resulting in a fall in shares. The US technology giant said revenue for its first fiscal quarter of this year climbed 3.6 per cent to $32.3bn (£20bn), below forecasts of $33bn. Shares in the firm fell 12 per cent in after hours trading to $42.4 following the news. [...]
England set to keep faith with Tindall February 22, 2011 ENGLAND coach Martin Johnson is expected to again entrust Mike Tindall with the England captaincy after opting not to recall Lewis Moody to the starting line-up for Saturday’s crunch RBS 6 Nations clash against France at Twickenham. Moody, who has only just returned after five weeks out with a knee ligament strain, may yet be [...]
Macy’s eyes growth as profits lift by 50pc February 22, 2011 MACY’S, the US department store chain, has increased its fourth-quarter profits by 50 per cent, predicting further growth this year. The retailer, which also operates the Bloomingdale’s brand, saw sales increase to $8.27bn (£5.1bn) in the 13 weeks to 29 January this year. Net income for the firm was $667m over the period, up from [...]
Bookseller halts dividend February 22, 2011 BARNES & NOBLE, the world’s largest bookseller, has suspended its dividend payments after a drop in profits. Net profits for the three months to the end of January fell to $60.6m (£37.6m) for the US retailer, down 25 per cent from the $80.4m recorded a year earlier. The results, impacted by a poor holiday period [...]
Revenue up as public purse hits a surplus February 22, 2011 CHANCELLOR George Osborne received a double boost yesterday, after the government recorded its largest monthly surplus for two years, and the US treasury secretary gave a ringing endorsement of the coalition’s austerity plan. The government’s preferred measure of borrowing, which excludes financial sector interventions, revealed a £3.7bn surplus, as tax revenues soared. Total borrowing including [...]
ECONOMIST VIEWS: IS THE GOVERNMENT ON COURSE TO SLASH THE DEFICIT? February 22, 2011 HETAL MEHTA | DAIWA CAPITAL The figures are a relatively small improvement from a wretched position last year when we had the first ever January deficit. The government still has a long way to go in terms of reining in its expenditure. Next month’s budget will show how committed it is to bringing the public [...]
