Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
Selfridges to buck the high street gloom November 6, 2011 SELFRIDGES, the British chain of high-end department stores, will this week report a surge in profits thanks to the resilience of the luxury goods market. The company, which is owned by Canadian billionaire Galen Weston, is expected to report a 19 per cent jump in profits later this week, after sales at is stories in [...]
BEST OF THE BROKERS November 2, 2011 CENTAMIN EGYPT Goldman Sachs has updated its estimates on the miner following third quarter production and financial results. It rates Centamin Egypt as a “buy” but reduces its target price from 290p to 280p, calling the results solid but unspectacular. Costs were slightly higher than expected and are reflected in next year’s estimates, with earning [...]
High street brands in fight for middle ground October 11, 2011 ACCORDING to YouGov’s Household Economic Activity Tracker, 55 per cent of UK consumers are more price conscious than they were a month ago, compared to only two per cent who are less price conscious than in September. With the uncertainty about the economy continuing and people keen to make sure they are not overspending, winning [...]
A week full of stock results: what to watch October 10, 2011 TO say we live in interesting economic times would be an understatement. Confidence is low and money is tight. And retail stocks often show investor nerves more prominently than other markets. But it isn’t all bad news: volatility in the market can serve to make the life of the spread better more exciting. So with [...]
High Street boosts discounts September 25, 2011 HIGH street retailers stepped up the battle to win over cash-strapped shoppers this weekend by slashing prices and launching promotions, days after Britain’s supermarkets announced fresh price cutting campaigns. Top fashion retailers including Next and Gap launched a two day “flash sale” over the weekend, with items discounted at 50 and 30 per cent respectively [...]
BEST OF THE BROKERS September 19, 2011 ASSOCIATED BRITISH FOODS UBS upgrades the Primark owner to a “buy” and ups its target price on the stock by six per cent to 1200p, to reflect increased estimates. The broker makes no change to its full year guidance for 2011 of flattish earnings, but raises 2012 estimates by three per cent to put earning [...]
Retail sales fall less than expected September 15, 2011 Retail sales fell slightly less than expected in August, but the underlying trend remained flat, as consumers continued to rein in spending at a time of great economic uncertainty, official data showed. The Office for National Statistics said sales volumes including automotive fuel fell 0.2 per cent last month, slightly better than forecasts for a [...]
WESTFIELD AT STRATFORD: OUR PICK OF THE SHOPS September 13, 2011 CLOTHES & ACCESSORIES ASPINAL OF LONDON The second standalone shop for this affordable heritage brand, Aspinal has a plum position at the start of the Street, and is a wonderfully windowy space, glinting with cufflinks, jewels and charms and full of its signature bright croc skin bags and wallets. FOREVER 21 There were nearly 400 [...]
AB Foods says Primark margin dented by sales September 12, 2011 AB Foods said yesterday that margins were being squeezed at its Primark stores as prices were slashed in the tough consumer climate. The company said it is having to cut prices and launch early sales to keep tills ringing, in an update before the end of its trading year on 17 September. AB Foods, which [...]