FedEx cautious forecast keeps US stocks on hold September 16, 2010 US stocks were little changed yesterday as mixed economic data and a cautious forecast from economic bellwether FedEx kept the market locked in its recent tight trading range. Shares in FedEx fell 3.7 per cent to $82.72 after the company forecast quarterly profit below Wall Street’s expectations and warned the recovery may slow. A drop [...]
John Lewis in recovery as its profit rises September 16, 2010 JOHN Lewis warned yesterday that trading conditions were likely to get tougher as tax hikes and public spending cuts hit shoppers, even as it reported a 28 per cent rise in first-half profit. The group, owned by its 70,000 staff, said its strong first-half performance gave it confidence that both its department stores and grocery [...]
Kesa in sales lift thanks to World Cup TV boost September 16, 2010 ELECTRICALS retailer Kesa beat forecasts for first-quarter sales, with trade boosted by robust demand for televisions in the run-up to the World Cup and more sales over the internet. “After a positive first quarter we still anticipate that our markets will remain challenging for the remainder of this financial year,” the firm said yesterday. Kesa, [...]
Campari in deal to buy William Grant brands September 16, 2010 CAMPARI Gruppo has agreed to buy three brands from William Grant for £100m. Carolans, Frangelico and Irish Mist, which William Grant acquired from the Irish company C&C group, will be taken by Campari. Under a ten-year agreement, William Grant will continue to blend and bottle the liqueurs in Ireland. It said there would be no [...]
Kingfisher in warning over tough times September 16, 2010 KINGFISHER yesterday said that it had beaten its first half profit forecast – but the home improvement giant warned that consumer confidence would not be fully restored until at least 2012. The B&Q owner made a pre-tax profit of £354m in the 26 weeks to 31 July, which it achieved through cost cutting rather than [...]
Booker in fruit and veg boost September 16, 2010 BRITAIN’S biggest cash and carry wholesaler Booker reported a six per cent rise in second-quarter sales, helped by the World Cup and sales of fresh fruit and vegetables. The group, which supplies over 300,000 caterers and retailers from 172 branches throughout Britain, said its outlook for the year as a whole remains unchanged. Analysts expect [...]
Shoppers hit cards again ådespite economic gloom September 16, 2010 SHOPPERS are splashing out with their credit and debit cards at a near-double digit rate, figures showed yesterday. Card users put 9.2 per cent more on plastic last month than they did in the same month of the previous year. August was the fourth month in a row during which the annual rate of growth [...]
Robert Wiseman warns on profit as price war hits September 16, 2010 Robert Wiseman Dairies yesterday said it expected stiff competition to hurt its operating profits for the second half and next year, sending the shares down by nearly a third. The company that procures, processes and delivers milk to customers across the UK forecast second-half operating profit falling by around £7m and by £16m in 2012. [...]
Halfords says finance director to take over the reins at Dunelm September 16, 2010 HALFORDS group finance director Nick Wharton is to leave the cycle and motoring retailer to become chief executive of budget home furnishing chain Dunelm Group. Wharton will leave the company on 30 November but before his departure he will present Halfords’ interim results and oversee the renewal of its banking facilities. Chief executive of Halfords, [...]
Margins too tight to bear September 16, 2010 THE British dairy market is notoriously competitive, but investors were not prepared for yesterday’s shock profit warning from Robert Wiseman. Although its first-half numbers are in line, the second half is going to turn sour. Full-year profits are now forecast to be £7m lower than thought. A crushing round of price negotiations with Tesco is [...]
