HOW WOULD AN IRISH BAILOUT WORK? November 15, 2010 Q.WHAT FINANCING OPTIONS ARE AVAILABLE? A. The European Union safety net consists of the European Financial Stability Mechanism (EFSM), which can lend up to €60bn and the European Financial Stability Facility (EFSF), which is backed by €440bn worth of Eurozone government guarantees. On top of that, the International Monetary Fund (IFMF) can lend additional money [...]
Majestic sees its wine sales flow faster November 15, 2010 MAJESTIC Wine said yesterday its half-year profits had jumped by a fifth as it said it continued to benefit from slashing its minimum order from 12 bottles to six. Reduced competition on High Street sales had a positive impact after the First Quench group – whose brands included Threshers – plunged into administration. Majestic made [...]
H&M hits its revenue targets November 15, 2010 FASHION giant H&M yesterday posted a slight rise in sales at established stores, up three per cent last month from 2009’s figure. The Swedish retailer said total sales, which includes newly opened stores, were up 13 per cent in October. Figures for overall sales and for stores open a year or more were exactly in [...]
CITY VIEWS: WILL RETAILERS HAVE A BETTER CHRISTMAS THIS YEAR ? November 15, 2010 ALEX READ | BDB BROKERS “I definitely think people will be worried about what they spend this year and will decide to cut back. People usually get into debt to pay for Christmas and worry about it in January, but I think people will try and avoid that this year.” LUKE GARRATT | DWF SOLICITORS [...]
WHAT HAS ENABLED MAJESTIC TO BUCK THE TOUGH CONSUMER TREND? November 15, 2010 KEITH BOWMAN | HARGREAVES LANSDOWN The half-year performance has been underwritten by a management decision to reduce the minimum order from twelve to six bottles, with the initiative proving popular with both existing and new customers. KATHARINE WYNNE | INVESTEC Majestic’s move to the six-bottle minimum appears to have added another gear to what was [...]
Halfords finance chief unveiled November 15, 2010 Halfords unveiled its new chief financial officer yesterday – poaching Andrew Findlay from Marks & Spencer to be finance director. He replaces Nick Wharton, who is heading to furnishings group Dunelm. Findlay, presently director of finance, tax and treasury at M&S, will start in February. Halfords reports its half-year results tomorrow. Profit for the half-year [...]
Paul to open 50 shops in capital November 15, 2010 French bakery Paul will open 50 shops in London over the next four years, creating 1,000 jobs. The chain, which sells bread, pastries and sandwiches, revealed the plans as it appointed a new chief executive to its British arm, James Fleming. The first of its new stores will open within six weeks as Paul looks [...]
Aston Martin hits Harrods November 15, 2010 Aston Martin’s latest luxury car, the Cygnet, has gone on display at Harrods in Knightsbridge. The car takes pride of place in the luxury retailer’s window, and will be on display until 11 December. The car goes into full production in 2011, with a price tag of around £30,000. The car is aimed at being [...]
Facebook eyes email service as beats eBay November 15, 2010 FACEBOOK is now worth a staggering $41bn (£25.5bn), valuing it ahead of online auction site eBay. The valuation, based on shares traded on SecondMarket, an exchange for privately held companies, makes Facebook the third largest online firm in the US. It still trails in the wake of Google, which is worth $192.9bn, and Amazon, worth [...]
Motorola eyes splitting the firm in January November 15, 2010 MOTOROLA is aiming to split the company into two separate units as early as January, according to co-chief executive Greg Brown, who will take the top job at its government and business division. Motorola previously said it would split in two in the first quarter creating Motorola Mobility, which will sell mobile phones and television [...]
