AANALYST VIEWS: IS BURBERRY ON A WINNING PATH? July 13, 2010 KATHARINE WYNNE | INVESTEC “The luxury sector has not done universally well, but Burberry has a lot of sales to tourists from countries like the Japan and the US (boosted by favourable exchange rates which brought more shoppers in). They also do very well with gifting. “ SAM HART | CHARLES STANLEY “Longer term prospects [...]
Luminar sees its sales crash July 13, 2010 Shares in Luminar tumbled by 13 per cent at one stage yesterday before closing 4.4 per cent lower at 11p after the nightclubs operator said sales in the first 19 weeks of the year were down 19.9 per cent. Luminar blamed the World Cup for the poor performance. The company behind the Oceana and Liquid [...]
Northern Foods revenues slide July 13, 2010 Food manufacturer Northern Foods said sales fell in the first quarter of its fiscal year, reflecting its decision to pull out of low margin contracts. The company, which makes own-label products for retailers as diverse as premium food seller Marks & Spencer and discounter Aldi, said yesterday comparable sales were down 1.6 per cent in [...]
Intel reports best quarter for 42 years July 13, 2010 INTEL yesterday reported second-quarter revenue of $10.8bn (£7.1bn), describing it as the firm’s “best quarter” ever in its 42-year history. Intel, which is the world’s largest chipmaker, said revenue in the three months ended 26 June totalled $10.8bn, compared with $8bn in the year-earlier period and the $10.25bn expected by analysts. The company posted operating [...]
Telefonica gets tough on PT July 13, 2010 02 owner Telefonica will seek international arbitration if it does not reach a deal this week with Portugal Telecom (PT) in a tug-of-war over ownership of Brazil’s biggest mobile phone company. Telefonica is understood to have hardened its stance after weekend talks with PT failed to bear fruit. The Portuguese government used a “golden share” [...]
Mobile banking giant Monitise clinches new Visa deal as placing hands it £32m July 13, 2010 Mobile banking specialist Monitise said it would raise £32.4m through a share placing and subscription, and extended its partnership with credit card giant Visa by a year, sending Monitise’s shares up 12 per cent in early trading. The company said it would raise £23.6m by placing 114m shares at 20.75p a share, which is a [...]
Infosys hopes for revival in outsourcing demand July 13, 2010 Infosys Technologies edged up its forecast on a revival in outsourcing demand from its mainstay financial clients yesterday, but its shares fell as markets worried a weak European economy could curb orders. India’s second largest outsourcer reported a surprise 2.6 per cent drop in April to June profit and its sales contribution from Europe fell [...]
iPhone 4 gets thumbs down July 13, 2010 INFLUENTIAL independent watchdog Consumer Reports yesterday delivered a blow to Apple when it said it cannot recommend Apple’s iPhone 4 to buyers. The news followed its own tests confirming the device’s well-publicised reception glitches. The organisation, which publishes guides on everything from cars to TVs, said it had also tested other phones – including the [...]
Sky and Virgin finish TV deal July 13, 2010 British Sky Broadcasting and Virgin Media yesterday announced Sky has completed the acquisition of its rival’s television unit VMtv, following regulatory approval in Ireland. VMtv has now been re-named the Living TV Group. Sky has paid Virgin Media an initial £105m, with up to £55m extra to be paid after it gains UK regulatory clearance. [...]
BMW driven to hike 2010 sales outlook July 13, 2010 Germany’s BMW raised its 2010 pretax profit and sales outlook yesterday, citing better-than-expected earnings at its automotive business and buoyant luxury car markets around the world. Shares in BMW and archrival Daimler jumped on the news as robust demand for high-performance autos like the BMW Z4 roadster and the new 5-series continues to rebound from [...]
