FASHION NEWS December 9, 2010 PAUL SMITH WINTER SALE The winter sale begins on 27 December, offering 30 per cent off the original price. Savings on men’s tailoring and women’s bags and shoes will be standout, and customers on the Paul Smith mailing list receive a 50 per cent discount on the original ticket price until 4 January. For special openings [...]
Hedge accounting rules change December 9, 2010 The International Accounting Standards Board has announced plans to revolutionise hedge accounting for financial instruments by brushing aside existing rules and introducing a set of core principles instead. IASB chairman Sir David Tweedie said the changes, announced yesterday, would add simplicity to hedge accounting, while allowing for more easily identifiable risk management. Accountancy body ICAEW [...]
IG bullish for 2011 despite woes in Japan December 9, 2010 SPREAD betting group IG achieved first-half revenues of £157m, up nine per cent on the previous year despite “subdued” trading and difficulties in its Japanese arm, it said yesterday. The UK, its biggest market, saw sales grow four per cent to £83m in the six months to 30 November, up from £79.9m a year earlier, [...]
CITY MOVES | WHO’S SWITCHING JOBS December 9, 2010 Adam & Company The private bank has hired Graham Storrie as managing director. He joins from parent company Royal Bank of Scotland, where he was most recently managing director of specialist advice. He brings with him over 30 years of experience in banking, investments and advice, having worked for organisations such as Standard Life, where [...]
MULBERRY SEES PROFIT SOAR December 9, 2010 MULBERRY, the luxury goods group specialising in bags, has reported a surge in profit, thanks to higher sales keeping up prices. The company’s pre-tax profit was £4.7m in the six months to 30 September, compared with £1.5m a year earlier. Mulberry said higher sales meant there was little end of summer season stock left to [...]
Mothercare speeds up its foreign plans December 9, 2010 MOTHER and baby products retailer Mothercare is accelerating its expansion overseas, particularly in India, and has raised its profitability target for international stores. Mothercare, which is taking analysts on a tour of its operations in India, said yesterday it expected total overseas network sales to double to £1bn by 2014. As well as expansion in [...]
Cue Card won’t fluff his lines December 9, 2010 WHEN trainer Philip Hobbs identified tomorrow’s Stan James International Hurdle at Cheltenham (3.05pm) as Menorah’s next target immediately after last month’s Greatwood Hurdle win, I remember thinking how desperate I’d be to oppose him. Don’t get me wrong, last season’s Supreme Novices’ Hurdle winner is one of my favourite horses in training, it’s just that [...]
Moss Bros in sales rise boost December 9, 2010 MOSS Bros posted an 8.3 per cent rise in like-for-like sales for the first 18 weeks of the second half as the British menswear retailer’s improved product offering drew in more shoppers. The company, which has 150 retail outlets worldwide, said total sales for the 44-week period to 4 December were up 8.9 per cent [...]
Luminar seals new £99m finance deal from banks to keep business moving December 9, 2010 NIGHTCLUB business Luminar yesterday confirmed a £99m injection from banks. The owner of the Oceana and Liquid club brands has signed a three-year loan deal with Lloyds, Barclays and Royal Bank of Scotland. The money should give it some breathing space to pay down debts and see if the new strategy from chief executive Simon [...]
Rank sees figures come in at top end of forecasts December 9, 2010 GAMING firm Rank Group said it expects its earning per share to be towards the top end of analysts’ forecasts for 2010, although it added that the outlook for next year remains challenging. It said analysts’ estimates for adjusted earnings per share were 9.5p to 9.8p, with a mean average of 9.6p. “The outlook for [...]
