New Look to raise prices as the cost of cotton rockets November 11, 2010 BUDGET retailer New Look yesterday warned that its prices would be hiked by up to eight per cent as the cost of cotton continued to surge. The company, which provides cut-price fashions to young shoppers, saw UK sales drop 4.5 per cent in the 26 weeks to 25 September. Chief executive Carl McPhail said price [...]
Supergroup November 10, 2010 WHEN investors look back over 2010, they’ll see a graveyard of failed IPOs. Merlin, New Look and Travelport couldn’t even get away; those that did, such as Ocado and Promethean, haven’t lived up to expectations. One of the flotations that stands out from the crowd is Supergroup, which appears to be living up to its [...]
NATIONAL BUSINESS AWARDS CELEBRATE VERY BEST OF BRITISH November 9, 2010 “CELEBRATING” the Best of British was how Prime Minister David Cameron described the National Business Awards last night, speaking via a video link recorded before his trip to China this week. And a fine celebration the ceremony was too, honouring companies of all sectors and sizes across the UK economy, from niche tiddlers such as [...]
BEST OF THE BROKERS November 9, 2010 SPIRAX SARCO RBS rates the engineering group a “hold” with an increased target price of £19.25. The broker has upgraded its full year 2010 earnings per share forecasts by four per cent following a healthy interim management statement, and sees sales growth of five per cent in 2011 with strong growth in Asia. ASOS Singer [...]
Asos eyes international November 8, 2010 ONLINE retailer Asos is pinning its hopes on overseas expansion as it announced a 59 per cent surge in profit yesterday. The company’s profit boost represented a £7m rise in the six months to September. Asos, which offers cut price fashions aimed at 18-34 year-olds, saw a 50 per cent rise in retail sales to [...]
Asos in profit surge November 8, 2010 Online fashion retailer Asos today said profits were up by nearly two thirds. The firm made a pre-tax profit of £7m in the six months to September 30, up 59 per cent from £4.4m in the period last year. Revenue was up 45 per cent to £139.7m. Chief executive Nick Robertson said: “As we head [...]
Asos jumps on overseas sales October 14, 2010 ONLINE fashion retailer Asos said it was on track to meet full-year profit forecasts after a 47 per cent jump in second-quarter sales, led by demand from abroad and sales of aviator jackets and capes. Asos shares, which have more than doubled this year, fell around six percent as analysts worried about a slowdown in [...]
Asos sees sales surge by 47 per cent October 14, 2010 Online fashion retailer ASOS said it was on track to meet full-year profit forecasts after a 47 per cent surge in second-quarter sales. ASOS, which launched a US website last month, also said it expected to launch French and German versions by the end of the month. Retail sales jumped to £69.7m in the three [...]
BEST OF THE BROKERS October 5, 2010 NATIONAL GRID JP Morgan Cazenove considers the Ofgem decision on the framework for the next transmission and gas distribution to be a friendly move for National Grid’s shareholders. The broker gives the energy giant a “neutral” rating and says the new finance director may offer a fresh look at the financing challenges facing National Grid [...]
ANALYST VIEWS: WHAT IS SUPERGROUP’S RECIPE FOR SUCCESS? July 15, 2010 KEITH BOWMAN | HARGREAVES LANSDOWN “In the wake of recent comments from both Burberry and ASOS, Supergroup is again proving that the consumer is still ‘alive and kicking’ and prepared to spend money on the right offering.” FREDDIE GEORGE | SEYMOUR PIERCE “The company is gaining traction in womenswear, the international opportunity has been significantly [...]