Ocado growth forecasts slashed August 11, 2011 Goldman Sachs has cut its sales and earnings forecasts for online grocery group Ocado after the firm said its lack of warehouse capacity was continuing to hinder growth. Goldman, one of Ocado’s two brokers, revised its 2011 sales forecast down two per cent, and cut its 2012 forecasts by five per cent. It said forecast [...]
AB InBev ups price to cover slowing sales August 11, 2011 ANHEUSER-BUSCH InBev, the world’s largest brewer, lifted core profit in the second quarter as price rises compensated for weak beer sales in its main markets of the US and Brazil. The group, which makes Stella Artois, Beck’s and Budweiser, said beer volumes in the UK had fallen by 17 per cent after it came up [...]
World’s largest brewer benefits from its exposure to the emerging markets August 11, 2011 IN years gone by, people used to respond to economic turmoil by hitting the bottle. If they’re drowning their sorrows this time round, they aren’t drinking beer brewed by Anheuser-Busch InBev, at least not in the West. In North America, volumes fell 1.4 per cent in the second quarter and they were off 4.3 per [...]
Blacks replaces Bernstein with interim chair August 11, 2011 FORMER Selfridges chief executive Peter Williams (pictured) has been made interim chairman of ailing Blacks Leisure. The outdoor retailer’s leading shareholder Mike Ashley forced out chairman David Bernstein after withdrawing his support at last week’s shareholders’ meeting. Julia Reynolds, the new chief executive, only started a few days ago. Williams becomes interim chairman as the company [...]
UK still tough says Grainger August 11, 2011 GRAINGER expects the UK property market to continue being affected by the subdued economy, and says that it is making good progress integrating the first three housing portfolios under its Lloyds RAMP agreement. The housebuilder said it had made £79.5m of sales in the four months to the end of July, and had a further [...]
Heathrow passengers soar to record as US traffic rises August 11, 2011 HEATHROW was used by more air passengers in July than in any previous month, with 6.9m people passing through the airport, owner BAA said yesterday. Passenger numbers were up 2.5 per cent on the same period a year ago, as long haul flights, particularly to and from the US, fuelled the rise. BAA’s three Scottish [...]
AirAsia chooses adviser for IPO August 11, 2011 LONG-HAUL budget carrier AirAsia yesterday chose Morgan Stanley as the adviser for its proposed initial public offering (IPO). The airline, run by Tony Fernandes, said its planned listing is on track for next year, though a decision on where to list is yet to be finalised.
Thomas Cook UK chief quits August 11, 2011 THOMAS Cook announced yesterday that the head of its British retail division Ian Derbyshire is stepping down, a week after chief executive Manny Fontenla-Novoa departed following the group’s third profit warning in a year. The company said he was leaving to take the helm at his family’s child activity business in north west England.
Metrodome buys Psycho rights owner for £1.6m August 11, 2011 BREAKFAST at Tiffany’s rights owner Hollywood Classics has been snapped up by Metrodome in a deal worth £1.6m. Metrodome will gain access to 600 independent movies as well as 100 classic films from studios including Universal, Paramount, Twentieth Century Fox, Warner Bros and the UK Film Council. Highlights include the Godfather and Alfred Hitchcock classic [...]
Potter boosts Bloomsbury August 11, 2011 PUBLISHER Bloomsbury has once again been boosted by the magic of Harry Potter. The release of the latest movie version of JK Rowling’s boy-wizard has waved a wand over sales figures for the entire range of children’s novels. This, coupled with surging ebook sales, led to a “significant improvement” in sales during July and August. [...]
