M&S gloomy on outlook for retailers July 13, 2011 MARKS and Spencer is seeing its market share grow with sales nudging up but warned of a tough road ahead for the retail sector. Chief executive Marc Bolland said that the freshening up of product lines had fuelled sales growth, with healthy eating ranges proving particularly successful in its food halls. Like-for-like UK sales excluding [...]
ANALYST VIEWS: IS BOLLAND TAKING M&S IN THE RIGHT DIRECTION? July 13, 2011 FREDDIE GEORGE | SEYMOUR PIERCE The statement is relatively reassuring and at this stage management is happy to flag up no change to full-year 2012 forecasts. Trading would have benefited from a reasonably buoyant April helped by the late Easter and royal wedding while May was weak. NICK BUBB | ARDEN M&S is keeping its [...]
Asia boosts Burberry’s first quarter July 13, 2011 SHARES in Burberry leapt to yet another record-high yesterday after the British luxury brand reported a 34 per cent underlying growth in quarterly sales. The fashion house outshone market expectations, posting revenues of £367m for the three months to 30 June, with Asian countries leading the growth. Sales from Burberry’s retail operations, which make up [...]
Wetherspoon in revenue rise July 13, 2011 JD WETHERSPOON reported higher fourth-quarter sales and said an encouraging performance from its recently opened pubs should help it achieve a reasonable full-year outcome, despite rising costs and weaker consumer confidence. The pub company said its like-for-like sales for the 11 weeks to 10 July were 1.6 per cent up, with year to date sales [...]
SuperGroup eyes overseas expansion as profits impress July 13, 2011 SUPERGROUP boss Julian Dunkerton said yesterday the company would consider opening more flagship stores across the globe as it recorded a bumper annual profit. The retailer announced a pre-tax profit for the year to 1 May of £47.3m, up 110 per cent. A highlight of the year for the company was the purchase of a [...]
Thorntons in sales dive July 13, 2011 Chocolatier Thorntons has said store sales were down by more than ten per cent as it predicted another year of tough conditions on the high street. Like-for-like sales at its 364 company-owned stores fell by 10.6 per cent in the eight weeks to 25 June. The firm is to close up to 180 shops over [...]
Topps Tiles in sluggish trading July 13, 2011 Topps Tiles has admitted it faces another quarter of “subdued” trading as the sluggish house market and low consumer confidence continues to hit demand. The floor coverings firm, which has 313 UK stores, said like-for-like sales declined by 1.9 per cent in the 13 weeks to 2 July, compared with a 1.2 per cent fall [...]
Amazon seals cheaper Kindle deal July 13, 2011 Amazon.com said yesterday it has struck a sponsorship deal with AT&T to sell a less expensive version of its Kindle 3G digital reader. Amazon’s Kindle 3G, which allows users to buy electronic books without having to subscribe to a wireless network, costs $189 (£118.22). The AT&T sponsored device, which will also include built-in ads on [...]
Sales drop at Icap as trade hits $878bn July 13, 2011 ICAP, the brokerage founded by former Tory party treasurer Michael Spencer, posted a four per cent drop in first-quarter sales yesterday. The London-listed firm said the slip was in line with its expectations, blaming the large number of public holidays and a tough comparator due to an “abnormally high” level of activity around the “flash [...]
Spencer bets on digital future of broking July 13, 2011 ICAP thrives on volatility, so the continued double-digit volume growth in many of its trading divisions in the past quarter wasn’t a surprise. But both the market and the comparative period last year were tough to beat, so its four per cent revenue fall didn’t alarm investors either. Where Michael Spencer’s interdealer broker really continues [...]
