HOLLISTER BRAND BOOSTS ABERCROMBIE August 4, 2011 ABERCROMBIE & Fitch said yesterday that net sales rose 23 per cent to $916.8m (£563.1m) in the second quarter from a year ago, as shoppers flocked to its stores, especially its surf-themed Hollister chain. Revenue in stores open at least one year rose nine per cent overall, while international sales jumped 74 per cent to [...]
Adidas raises 2011 forecast August 4, 2011 Adidas raised its year forecasts again yesterday after demand for its three-stripe branded sportswear from Chinese and US customers led to a five per cent rise in second quarter sales. Adidas, the world’s second-largest sports clothing company after Nike, has already raised its sales outlook twice this year as demand for sportswear soars. The German [...]
Ladbrokes profits slump August 4, 2011 Betting firm Ladbrokes reported a worse-than-expected 33 per cent decline in first half pre-tax profit, and said it remained cautious on the outlook for the UK economy. The company, which has more than 2,700 betting shops, said pre-tax profit fell to £76.6m from £114.7m the year before, reflecting a one off interest rebate which boosted [...]
Ocado adds new Oxford base August 4, 2011 Online retailer Ocado is to open a new regional depot near Oxford to tackle capacity problems at the online grocer. Due to open in November this year, the 43,000 sq ft warehouse will be able to process 10,000 orders a week. The new site will take pressure off existing sites in Weybridge and Coventry, as [...]
ABERDEEN SETS SAIL FOR COWES IN STYLE August 4, 2011 THE RECEIVED wisdom about sailing is that it is equivalent to “standing under a cold shower tearing up £20 notes”. Make that “standing under a fire hydrant tearing up £50 notes” and the description is spot on, said double gold-winning Olympian Sarah Gosling, as she sheltered from the rain in Bow Churchyard outside Aberdeen Asset [...]
Asia boosts Robert Walters August 4, 2011 BRITISH recruitment firm Robert Walters has posted a 23 per cent increase in first–half net fees, boosted by international growth. Markets outside the UK contributed 74 per cent to its net fee income, with the company’s Asia Pacific business growing 29 per cent. Both China and Thailand enjoyed a doubling of net fee income, after [...]
FSA charges ex-Mizuho man with insider dealing August 4, 2011 THE FSA has charged former Mizuho investment banker Thomas Ammann and two of his associates with insider dealing, the regulator said yesterday. Ammann, who was fired from the bank shortly after he was arrested in November last year, was also charged with money laundering and encouraging insider dealing. Christina Weckwerth, who is based in Germany, [...]
CITY MOVES | WHO’S SWITCHING JOBS August 4, 2011 Kentz Corporation The holding company of the Kentz engineering and construction group has appointed Christian Brown as group chief operating officer. Brown, who had a 17-year career with Kellogg Brown and Root before joining Foster Wheeler in 2009, will initially be based in the London office before transferring to Houston in June 2012. Paul Lewis, [...]
BEST OF THE BROKERS August 4, 2011 CAIRN ENERGY Deutsche Bank rates the oil explorer “buy” but has cut its target price from 480p to 450p in light of the firm’s failure to find oil in Greenland. However, the broker sees the share price slump as a buying opportunity, particularly below a floor price of 345p. Deutsche reckons Greenland contributed 34p to [...]
FTSE crashes to lowest level in 11 months on Euro turmoil August 4, 2011 BRITAIN’S top share index tumbled and closed lower for the fifth consecutive trading day yesterday, depressed by global growth concerns and sovereign debt worries ahead of key US jobs data. Inmarsat shares plunged 19.3 per cent, hitting their lowest level in more than two and a half years after the satellite operator abandoned growth forecasts [...]
