Asda sales slow as it forecasts a bleak Christmas November 15, 2012 ASDA, the UK’s second largest supermarket, reported a slowdown in third quarter like-for-like sales growth yesterday and struck a sober note in its outlook on the Christmas quarter. Like-for-like sales rose 0.3 per cent in the three months to 30 September, down from 0.7 per cent in the previous quarter and 2.2 per cent in [...]
Ted Baker goes up a size as its quarterly revenues surge 22pc November 15, 2012 TED BAKER yesterday reported that sales have jumped by more than a fifth since the same time last year, as it manages to buck the high street gloom and continues with its overseas expansion. The British fashion brand said revenues rose 22.1 per cent in the 13 weeks to 10 November compared with the same [...]
Like-for-likes at H&M in October hit by weak European demand November 15, 2012 HENNES & Mauritz (H&M), the Swedish fashion giant, yesterday reported a surprise drop in October sales as it suffered from weak consumer demand in crisis-hit Europe. The world’s second largest fashion retailer said like-for-like sales fell by five per cent in October, sending shares down almost three per cent yesterday. Total sales, which include new [...]
Swiss firm Maus Freres snaps up Lacoste November 15, 2012 LACOSTE has been snapped up by Swiss family-owned group Maus Freres in a deal which valued the French brand at €1bn (£0.8bn), Maus Freres said yesterday. Founded in 1933 by French tennis champion Rene Lacoste, his descendants have decided to sell their remaining stake to the Swiss retailer, which already own 35 per cent, after [...]
Savills on track for higher profits November 15, 2012 Property agent Savills said yesterday it was on track to deliver annual profits ahead of forecasts despite a slowdown in transaction volumes in many of its markets. In an interim statement for 1 July to date, Savills said prime London residential and Asia Pacific continued to trade well while its commercial business increased market share. [...]
Derwent makes £23m acquisition November 15, 2012 Derwent London has snapped up 9 and 16 Prescot Street in Whitechapel for £23m. The buildings, which total 111,000 square feet, are let until 2015 to the Cooperative Bank and an Indian restaurant. Reporting its third quarter figures, the developer said it expects a four to five per cent growth in rental values over 2012, [...]
JLT signs largest letting of the year November 15, 2012 Jardine Lloyd Thompson (JLT) is to move its headquarters to The St Botolph Building in the City, sealing London’s largest letting deal this year. The insurer said yesterday it has signed a 25 year lease with Minerva – owned by Delancey and AREA Property Partners – for 287,000 square feet, at a rent of about [...]
Investec’s asset income eases profit pressure November 15, 2012 INVESTEC’S profits fell in the first half of the year, with the poor state of the world economy hitting trading, lending and investment incomes, the bank and asset manager’s results showed yesterday. Profits dropped 5.8 per cent, coming in at £168.5m in the six-month period, down from £178.9m in the same period of last year. [...]
3i restructure gathers pace as firm trims overseas office staff November 15, 2012 LISTED alternative investor 3i, which invests in businesses and infrastructure, yesterday said it remained on track to restructure the firm after cutting 104 staff and shifting its focus onto its debt management business. The company, which invests in private equity infrastructure and debt funds, said it wanted to reduce staff numbers by a third by [...]
E&Y gets Farepak audit complaint November 15, 2012 Ernst & Young (E&Y) faces disciplinary action over its audit of the parent company of Farepak, the savings firm that collapsed shortly before Christmas 2006. The Financial Reporting Council said it has filed a disciplinary formal complaint against the big four auditor and one of its former staff for signing off Farepak’s 2005 accounts and [...]
