Next’s share price is riding high after its trading update – but analysts’ reactions are a mixed bag August 3, 2016 The markets have responded positively to Next's second quarter update this morning, after the company announced sales were up 1.8 per cent so far this year – but analysts' reactions have been mixed. Augustin Eden, a research analyst at Accendo Markets said investors "shrugged off a disappointing trading update" as Next's share price rose after the [...]
Boohoo for Yahoo: Tech giant loses deal that generates $100m in annual revenue May 4, 2016 Yahoo has lost a major client, that brought it close to $100m in revenue annually, to tech company Synacor. AT&T is ending its 15-year-long partnership deal with Yahoo to host its website and other applications. According to the Wall Street Journal, most of the $100m Yahoo earned from the deal with AT&T was “pure profit”. [...]
Next widens and lowers full year guidance amid weaker demand for clothing and a slowdown in spending May 4, 2016 Next has widened and lowered its full year guidance on profits amid greater uncertainty in the retail sector, following its previous warning that the year ahead could be the worst since 2008. Presumably investors appreciated the heads up: Next's share price was up 2.5 per cent in early trading and as the day wore on [...]
No tears for Boohoo as profits and revenues soar April 26, 2016 Boohoo has reported a surge in profits and revenues for the full year as the fashion etailer woos even more customers worldwide. But clearly investors were hoping for more – Boohoo's share price fell 3.7 per cent on the open. The figures Revenues were up 40 per cent in the year to 29 February, climbing to [...]
Week ahead: Brexit expected to knock GDP and earnings April 25, 2016 Concerns over Britain leaving the European Union are expected to have weighed on gross domestic product (GDP) over the first quarter of 2016. Economists are expecting to see growth cooled to 0.4 per cent in the last three months, when the latest numbers are released on Wednesday. In the fourth quarter of last year the [...]
Missguided website crash: 50pc off sales causes technical problems for online retailer and leaves customers unable to complete orders March 14, 2016 The website of online retailer Missguided has suffered technical problems after announcing a sale leaving many of its customers unable to complete orders. An offer for 50 per cent off appears to have left the retailer, which counts Asos and Boohoo.com among its rivals, struggling to cope. Shoppers turned to Twitter to express their disappointment and frustration [...]
Top shareholder Old Mutual backs Sainsbury’s bid for Home Retail Group February 3, 2016 One of Home Retail Group's top shareholders has publicly backed Sainsbury's £1.3bn cash and shares offer for the Argos-owner, despite previously calling for a bid of at least 200p per share. Old Mutual, which owns a 3.6 per cent stake in Home Retail, making it the retailer's third largest shareholder, said it regards the latest offer by Sainsbury's [...]
Supermarket bosses have nowhere to hide January 13, 2016 Who said there’s blood on the high street? Retail stocks rose well into green territory yesterday, Morrisons up nine per cent and Debenhams a whopping 16 per cent higher, after both reported a jump in like-for-like sales. Defying City expectations, the pair of troubled FTSE-250 outlets remind us that retail should not be viewed as an [...]
Boohoo’s share price climbs as it ups guidance after sales soar January 12, 2016 Boohoo has raised its revenue guidance for the financial year as its sales soared 45 per cent in the four months to 31 December. The figures Boohoo has had a very strong period, with revenues up 45 per cent in the UK, 33 per cent in Europe and 52 per cent in the rest of the [...]
Northern Powerhouse: The North’s digital economy is booming but needs more infrastructure spending December 23, 2015 This year has seen the potential of the Northern Powerhouse truly realised and our digital sector sits at the beating heart of this agenda. The North’s digital economy is booming. It employs over 170,000 people and there has been a 57 per cent rise in new digital companies over the past three years. The UK’s [...]