Three London schemes given the go-ahead January 16, 2013 AUSTRALIAN property giant Lend Lease has won planning consent for a £1.5bn regeneration scheme in London’s Elephant & Castle area. Southwark Council yesterday approved the scheme, which aims to create 2,500 new homes, shops, restaurants and community facilities by 2025. Lend Lease said the development will create over 5,000 new jobs and the largest new [...]
Marketing spend boosted but industry expectations still low January 16, 2013 MARKETING spending has recently seen its highest increases for over a year, research released today reveals. However, this rise was modest, and most business leaders are gloomy about industry prospects over the coming months, according to research from trade body the Institute of Practitioners in Advertising (IPA). The IPA’s Bellwether report, seen as an indication [...]
Wetherspoon costs increase January 16, 2013 JD WETHERSPOON outpaced rival operators during Christmas, the pub chain reported yesterday, with like-for-like sales rising eight per cent over the festive period. However, a surprising hit to profit margins spooked City investors. The company, which runs over 800 pubs, said margins were around 8.2 per cent, which is 1.1 percentage points lower than last year, due [...]
Lovefilm brings stateside shows to UK January 16, 2013 LOVEFILM has inked a deal with US network NBCUniversal that will bring shows such as 30 Rock (pictured), the US version of sitcom The Office, and 1980s cult classic Knight Rider to its streaming service. Amazon-owned Lovefilm is aiming to boost its catalogue in the wake of competition from Netflix, which has invested in exclusive [...]
Poor Christmas trade at French Connection UK January 16, 2013 SHARES in fashion retailer French Connection were hit yesterday after it warned of a larger-than-expected loss as Christmas sales were hurt by lower demand and a decision to delay discounting. French Connection said it expected an adjusted pre-tax loss of £7.5m to £8m for the year to 31 January, much larger than the £5.47m analysts [...]
Investors abandon Thorntons despite lift in overall revenue January 16, 2013 SHARES in Thorntons fell seven per cent yesterday after the chocolatier posted a slump in sales at stores open more than a year, despite enjoying a lift in total revenue. Total sales for the 14 weeks to 12 January increased by 5.4 per cent to £4.5m, boosted by commercial sales which rose by 26.4 per [...]
N Brown says revamp has driven growth January 16, 2013 N BROWN, the catalogue and online retailer posted a strong rise in sales yesterday, after it revamped product ranges, sharpened prices and invested in a bigger marketing push. The company said sales rose 8.5 per cent in the 19 weeks to 12 January while sales at stores open more than a year rose 7.9 per [...]
The popularity of ebooks helps to boost profits at Bloomsbury January 16, 2013 THE RISE of ebooks has led to increasing profits at Harry Potter publisher Bloomsbury, despite shoppers spending less on books. The company said that a 58 per cent rise in sales of ebooks meant lower printing and distribution costs, and fewer customers returning books. Ebook sales exploded over Christmas as record numbers of ereaders were unwrapped. [...]
Kobo ereader sales double January 16, 2013 SALES of Kobo ereaders have grown much faster than expected in the last six months, the company revealed yesterday, with the WHSmith partner saying that sales of its devices have doubled in the past year. The firm said sales in December were up nearly 150 per cent on the previous year, and that it had [...]
Analyst Views | What effect does Bloomsbury’s update have on your rating? January 16, 2013 GARETH DAVIES NUMIS Sales of key title sales were down two per cent (we had hoped for flat), but better margin dynamics in a digital world meant profits have still risen, implying a better than expected margin. Earnings uncertainty leaves us comfortable with our ‘Hold’ rating and 138p target at this stage. MALCOLM MORGAN PEEL [...]
