Fourth quarter disappoints for Superdry brand May 10, 2012 JULIAN DUNKERTON, chief executive of SuperGroup, yesterday insisted the brand remained strong and “was looking forward to the future” after reporting disappointing fourth quarter sales. The owner of the SuperDry fashion label posted flat like-for-like sales in the 13 weeks to 29 April, blaming challenging retail conditions and poor weather in April. Last month SuperGroup [...]
ANALYST VIEWS CAN SUPERGROUP PUT PROBLEMS BEHIND IT AND DELIVER ON GROWTH? May 10, 2012 AMISHA CHOHAN MERCHANT SECURITIES The board needs to rebuild credibility with the market. The longevity of the brand is questionable. However, we believe the market has overreacted to the profit warning announcement in April 2012. The group has improved the infrastructure and personnel, which should enable growth for 2013. JOHN STEVENSON PEEL HUNT We believe [...]
Dixons Retail beats forecasts with sales rise May 10, 2012 DIXONS RETAIL has shrugged off the high street gloom and managed to win over cash-strapped shoppers as the owner of Curry’s and PC World reported better-than-expected sales. The group, which runs 640 stores in the UK and Ireland as well as outlets across Europe, yesterday said improved customer service and better ranges of products had [...]
Report slams border chaos as workers strike May 10, 2012 HEATHROW Airport managed to avoid unusually long queues at immigration yesterday in spite of strike action by border guards. The biggest queue recorded by owner BAA was a whopping one hour and 42 minutes long – more than twice the Home Office’s target, but currently par for the course at the poorly-staffed border. Hundreds of [...]
CITY VIEWS DO YOU HAVE ANY SYMPATHY FOR PUBLIC SECTOR STRIKERS? May 10, 2012 EMMA IBELL NOMURA No. They get a pretty good deal anyway. Their hours aren’t the same as in the private sector – what you put in is what you get out. The whole system is anarchic. KATRINA SARTORIUS EUROCLEAR Yes I do, I know people who have stuck it out in the public sector because of [...]
Growth fund is said to cost £33,000 a job May 10, 2012 THE coalition’s flagship fund to boost economic growth is attacked as an expensive let-down in an official report published today. The initial £1.4bn phase of the regional growth fund will deliver 41,000 jobs at an average cost of £33,000 each – broadly similar to previous job creation schemes, the National Audit Office said. The expected [...]
Crisis-hit Eurozone economies set to fall even further behind May 10, 2012 EUROPE’S troubled economies are falling further and further behind those in the rest of the continent and the world, two reports showed yesterday, suggesting the pain of the Eurozone crisis will not be over any time soon. The OECD’s leading index showed the German and British economies at a turning point, and likely to gather [...]
UniCredit’s capital base gives it a boost May 10, 2012 ITALY’S largest bank yesterday reported that it is now ahead of European capital requirements in its first results since its €7.5bn (£6bn) capital increase earlier this year. The lender also reported a 12.8 per cent rise in net profits on last year, bringing in €914m – but nearly half of the gain was due to [...]
ECB official warns interest rates may rise to fight high inflation May 10, 2012 NATIONAL governments spending too much in the good years and the structure of the Eurozone itself are to blame for the current crisis, a top European Central Bank (ECB) official said yesterday, warning that the ECB will put up interest rates if it needs to keep inflation under control. Economist Peter Praet told a banking [...]
Central bank calls for EU budget power May 10, 2012 THE EUROPEAN Central Bank (ECB) urged European governments yesterday to give the bloc’s institutions the power to force Eurozone member states to take the necessary action to rein in deficits. The future of the 17-nation currency bloc is in question as some countries, after years of overspending, struggle to get their budgets under control and [...]
