Asda chief to step down as takeover rumours sweep City April 12, 2010 ANDY Bond is stepping down as chief executive of Asda in a shock move ahead of his unveiling of the company’s five-year strategy plan. Bond is stepping into a new role of chairman on the board of Asda – a subsidiary of US retail giant Walmart – the firm said yesterday. The role will start [...]
Asda chief Bond to step down April 12, 2010 ANDY Bond is stepping down as chief executive of Asda in a shock move ahead of his unveiling of the company’s five-year plan. Bond is stepping into a new role of chairman on the board of Asda – a subsidiary of US-giant Walmart – the company said yesterday. The role will start off full-time to [...]
Asda moves to beat tax rate April 11, 2010 Asda, the second largest supermarket chain in the UK, helped a number of senior executives dodge the new 50 per cent top rate of income tax by paying them a portion of their annual salary upfront in March. Asda would not confirm how many staff earning above £150,000 per year took up the opportunity. Meanwhile, [...]
Mything in action March 31, 2010 Film CLASH OF THE TITANS Cert: 12A THE first action blockbuster of the Spring is no classic, but as forgettable, brain-dead holiday entertainment it just about gets the job done. Starring man-of-the-moment Sam Worthington (Avatar, Terminator Salvation) as Greek demi-god Perseus, it’s a remake of the 1981 film that was chiefly notable for its stop-motion [...]
BEST OF THE BROKERS March 14, 2010 HOME RETAIL GROUP Charles Stanley said the group’s fourth quarter trading update covering the eight weeks to 27 February was mixed. Trading was impacted by poor weather in January, but the impact on profits has been limited as the period is traditionally a low volume one. The broker remains cautious especially over the growing threat [...]
Home Retail ups forecast March 11, 2010 HOME retail Group – which owns Argos and Homebase – has tipped its pre-tax profit for the year to come in at £290m. The figure is slightly ahead of its earlier forecast of £285m for the year to 27 February. Argos sales fell 9.4 per cent while sales at its home improvement operation Homebase declined [...]
Home Retail Group ups forecasts but Argos slumps March 11, 2010 HOME retail Group – which owns Argos and Homebase – has tipped its pre-tax profit for the year to come in at £290m The figure is slightly ahead of market forecasts for the year to 27 February. Argos sales fell 9.4 per cent while sales at its home improvement operation Homebase declined 0.6 per cent [...]
Banks and miners lift FTSE but retail shares take a dive January 14, 2010 STRENGTH in miners helped Britain’s top share index to a 0.5 per cent rise by yesterday’s close after soaring output figures from Rio Tinto boosted the sector, but retailers fell on weak trading updates. The FTSE 100 ended 24.72 points higher at 5,498.20 after falling for two days, pressured by China’s decision to tighten banks’ [...]
Sales at Home Retail Group upset the City January 14, 2010 SHARES in Argos and Homebase owner Home Retail Group (HRG) slid more than six per cent closing at 265.8p yesterday despite the company increasing its full-year profit forecast by £20m. The retailer estimated that its pre-tax profits for the current financial year to 31 March would hit £285m The revised figure came as a trading [...]
Argos sales lift fuels profit forecast rise at Home Retail Group January 14, 2010 ARGOS and Homebase owner Home Retail Group (HRG) has increased its full-year profit forecast by £20m after sales in the second half of 2009 beat expectations. The retailer now expects its pre-tax profits for the current financial year to 31 March to hit £285m. The revised figure came as a trading statement showed that Argos [...]