What does the future hold for Morrisons? November 8, 2012 KATE CALVERT | SEYMOUR PIERCE The recent share price underperformance had anticipated a weak update and indeed, Morrisons’ update was disappointing. We expect underperformance to continue into next year as changes to its marketing & promotional strategy will take time for consumers to become aware of. CLIVE BLACK | SHORE CAPITAL The recent market share [...]
Cold weather heats up tills at Supergroup November 8, 2012 SUPERGROUP has seen sales jump in the second quarter of the year as colder weather boosted sales of coats and hoodies from its Superdry label. Chief executive Julian Dunkerton said: “When it dropped three or four degrees in one day…you are selling more of your heavy knits and jackets and you get more of a [...]
McDonald’s struggles in October November 8, 2012 McDonald’s yesterday reported a 1.8 per cent drop in October sales at established restaurants around the world, its first monthly sales fall since March 2003, hurt by stiff competition in a weak economy. Analysts, on average, expected a 1.07 per cent decline in sales at restaurants open at least 13 months, according to Consensus Metrix. [...]
Dairy Crest revenue drops 7pc November 8, 2012 Britain’s Dairy Crest Group, the maker of Cathedral City cheese, reported a 16 per cent fall in first-half profit as its core milk business continued to struggle. April to September adjusted pre-tax profit fell to £19.1m from £22.7m a year earlier. Revenue fell seven per cent to £688.2m. Revenue from dairies, which accounts for three-quarters [...]
Walt Disney boosted by ESPN November 8, 2012 Media giant Walt Disney posted higher quarterly profit on Thursday, lifted by an increase in attendance at theme parks and a gain in revenue at sports juggernaut ESPN. Disney reported diluted earnings per share of 68 cents for the quarter that ended in September, in line with expectations from Wall Street analysts. Net income rose [...]
Fourth quarter sees Eurozone even gloomier November 8, 2012 EUROZONE economic sentiment worsened yet further going into the fourth quarter, data showed yesterday, as worries surrounding member debt piles refused to go away. Expert respondents rated the euro area economic climate at 81.7 in the fourth quarter, according to the Ifo Institute, down from 88.9 in the third quarter – where 100 corresponds to [...]
Investors buy up Spanish long term bonds giving Rajoy time November 8, 2012 SPAIN showed yesterday that investors will buy even its long-term debt, with a successful bond auction that completed its 2012 issuance programme, giving the government breathing room to hold out before requesting international aid. Most analysts still think Spain will need to call on the European Central Bank’s firing power before long, but the smooth [...]
Seasonally-adjusted US jobless numbers show continued slide November 8, 2012 NEW JOBLESS claims in the US continued to creep down in the beginning of November, at least on seasonally-adjusted figures, according to data released yesterday. New unemployment insurance claims dropped 8,000 in the week ending 3 November, to reach 355,000, the Department of Labor showed. But the bigger drop-off came in total insured unemployment, which [...]
David Montgomery eyes Lepe back into the newspaper world November 8, 2012 It would be no exaggeration to say that the boutique investment banks are hurting due to the dearth of deal activity but in their favour they have increased their market share of deals and every so often they pop up quite spectacularly when one is least expecting them. Hence when BP bought (and then later [...]
Plenty of FTSE faces at Rudd’s Finsbury bash November 8, 2012 TO SW1 last night where senior City figures attended the annual drinks party given by Roland Rudd, boss of City PR outfit RLM Finsbury. Among the guest list were Stephen Hester of RBS, Chris Gibson-Smith of British Land, M&S chairman Robert Swannell, easyJet’s boss Carolyn McCall, Sir Charles Dunstone of Carphone. Roland’s sister Amber Rudd [...]
