UK set to celebrate the official end of the recession after Games boost October 21, 2012 THE UK is this week expected to officially exit recession, with news from the Office of National Statistics set to confirm the double dip is over. The ONS will publish its first estimate of third quarter GDP, with analysts predicting impressive growth, due in part to the Olympics. Howard Archer, of IHS Global Insight, said: [...]
WH Smith boss Kate Swann to leave retailer October 11, 2012 WH Smith yesterday announced Kate Swann is to step down as chief executive next year after heading the retailer for almost a decade. Swann will hand over the reins to Steve Clarke, managing director of the group’s high street division, next July after overseeing its crucial Christmas period and ensuring “a smooth transition” of the [...]
Experian’s plan to sell price site to Ybrant fails September 26, 2012 CREDIT-CHECKING firm Experian said yesterday its long-awaited sale of PriceGrabber has fallen through, after purchaser Ybrant failed to close the transaction. Experian, which announced the $175m (£108.4m) sale in May, said it considers Ybrant to be in breach of contract for not sealing the deal by the final deadline. The UK office of India-based digital [...]
Home Retail Group boosted by sales growth at Argos September 13, 2012 HOME Retail Group yesterday reported a return to quarterly growth at its flagship Argos chain, with sales up 1.4 per cent at £867m. Online purchases paid a key role in this growth, as they rose by 16 per cent, representing 42 per cent of total Argos sales. But the wet summer weather hit the group’s [...]
FTSE 100 down as BAE and EADS in the spotlight September 13, 2012 The blue chip index was trading slightly down this morning, as the mega-merger between BAE Systems and EADS grabbed the headlines. Investors were also cautious ahead of a key policy decision from the US Federal Reserve, which is expected later. Publisher Centaur was a big riser in early deals, up 11.56 per cent, on news [...]
Best of the Brokers September 5, 2012 JD SPORTS Ahead of interim reports on 18 September, Singer Capital has moved JD Sports back onto its “buy” list from “fair value” with a target price of 790p. The broker expects a fall in profits before tax from £16m to £2.4m after the company absorbed Blacks at the start of the year, but has confidence [...]
Barnes & Noble names retailers August 30, 2012 US BOOKSELLER Barnes & Noble yesterday said it has struck up partnerships with three more British retailers to sell its Nook ereader, after high street giant John Lewis emerged as the first UK retail partner earlier this week. Foyles, Blackwells and Argos have signed up to sell the two devices – Nook Simple Touch and [...]
BEST of the BROKERS July 23, 2012 HOME RETAIL Numis has moved the owner of Argos and Homebase from “sell” to “add” citing an improvement in the electricals market following the digital switchover and latest iPad launch. STAGECOACH Jefferies has upgraded the transport firm from “hold” to “buy” and upped its price target to 335p, calling the stock “the default choice in [...]
Home Retail is lifted by Argos despite a slump at Homebase June 19, 2012 HOME RETAIL GROUP shares soared 23 per cent yesterday after the company surprised the City with better-than-expected sales at its embattled catalogue chain Argos. Like-for-like sales at Argos fell 0.2 per cent to £819m in the quarter to 2 June, after improved sales of laptops, tablets and ebook readers offset declines in TVs, audio and [...]
HOME RETAIL GROUP’S RESULTS SHOW SIGNS OF IMPROVEMENT? June 19, 2012 PHILIP DORGAN PANMURE GORDON A better-than-feared trading statement, although cash gross profits are still down for both businesses. We remain negative, as we believe that Argos has too many stores, too high a fixed cost base and is close to making losses. SIMON IRWIN LIBERUM CAPITAL Like-for-like sales are notably better than our forecasts…Our preference [...]