FTSE ends the day flat as Vodafone gains fail to make up for oil gloom April 19, 2012 BRITAIN’S blue-chip share index closed flat yesterday, as banks gave up gains after rising yields at a Spanish debt auction unnerved investors, but Vodafone outperformed on expectations it will make a bid for Cable & Wireless Worldwide. Vodafone, the world’s biggest mobile phone carrier by revenue, added five points to the index by the close, [...]
FTSE up as Spanish debt fears ease April 19, 2012 The FTSE 100 edged up this morning but trading was light as investors digested the results of a Spanish debt auction. Spain’s 10-year government bond yield surged above six per cent earlier this week, raising fears it may have to seek an international bailout. But this morning’s auction saw 10-year bonds sold at a yield [...]
Home Retail grapples with falling profits March 15, 2012 HOME RETAIL Group forecast its fifth consecutive year of falling profits as weak consumer demand and competition from internet and supermarket rivals continued to impact sales. Chief executive Terry Duddy said the company was on track to meet analysts’ expectations for the full-year, with an average underlying profit of around £99m. This marks a sharp [...]
ANALYST VIEWS: WILL WE SEE SALES IMPROVE AT HOME RETAILL ? March 15, 2012 PHILIP DORGAN | PANMURE GORDON There is not much to see here. The period has been short and is low volume. The figures are poor, but not unexpected. Argos may benefit from the demise of Game, but there are plenty of other retailers competing for the same business. DAVID JEARY | INVESTEC The news is [...]
Sales drop at owner of Argos and Homebase March 15, 2012 Home Retail, the owner of Argos and Homebase, reported a big drop in sales in the eight weeks to 25 February, sending shares down 0.6 per cent. Argos sales decreased 8.5 per cent, while like-for-like sales at Homebase dropped 6.5 per cent, worse than the full year decline of 2 per cent. Despite this Home [...]
Home Retail in line for profit warning March 14, 2012 HOME RETAIL Group’s profits for 2013 are expected to fall significantly short of expectations as sales at its troubled retailer Argos suffer from falling consumer demand and competition online. Analysts believe chief executive Terry Duddy and John Walden, the new managing director of Argos who joined last month, will issue a profit warning “sooner rather [...]
Apple can even generate buzz with no product March 6, 2012 APPLE’S new iPad has had an impact even before it is unveiled. The product’s overall Buzz score on YouGov’s BrandIndex has increased by two points since the announcement of its release less than a week ago. Looking at longer term trends over the last year, we have seen the uninterrupted rise in its recommend scores [...]
Cassin moves from adviser to finance head at the data firm March 1, 2012 BRIAN Cassin (pictured inset) is to leave Greenhill after 14 years at the end of April. And though the jump from investment bank to UK-listed data specialist Experian will be a change of pace, it won’t be a total culture shock for the Irish-born banker. Cassin has spent years advising the company, working with predecessor GUS [...]
New Argos boss handed free rein to shake-up firm February 23, 2012 THE NEWLY appointed managing director of Argos, the catalogue and shop chain, said he has been given a free rein to examine all options for the struggling business, including closing some of its 750 shops. John Walden, a 52-year-old American who started his job at the Home Retail owned business three days ago, said yesterday: [...]
Retailers pledge warranty action February 7, 2012 Dixons, Comet and Argos, Britain’s three biggest electrical retailers, have promised the UK’s competition watchdog they will improve the transparency of the extended warranties market to avoid a full-blown investigation. The Office of Fair Trading said yesterday its third study in just over a decade of the extended warranties market found consumers may not be [...]