Jump in Costa sales drives profit growth for Whitbread April 29, 2014 Leisure giant Whitbread has announced a boom in underlying profits before tax of 16.5 per cent to £412m for the financial year ending 26 February. Total revenue rose by a hefty 13 per cent to £2.2bn, with like-for-like sales rising by 4.2 per cent. Strong sales at both Premier Inn and Costa were significant drivers [...]
Court cases could mean payouts for delayed airline passengers April 28, 2014 A PAIR of appeals due in the next few weeks could cement new rights for passengers to claim compensation when their flights are delayed. A customer of Thomson Airways is going to the Court of Appeal in the hope of setting a precedent for other passengers who bring a claim more than two years after [...]
Facebook and Apple defy the tech critics April 23, 2014 TECHNOLOGY giants Facebook and Apple silenced talk of a tech bubble last night as they trumped all expectations, both delivering record earnings for the first quarter of 2014. Facebook’s booming mobile advertising business led the social network to revenues of $2.5bn (£1.5bn) in the quarter, above the expected $2.36bn, and profit of $642m, up more [...]
Arm shares hit as profit growth begins to slow April 23, 2014 ARM Holdings, whose chip technology powers Apple’s iPhone, saw its shares slide yesterday after a disappointing end to 2013 resulted in first-quarter profit rising less than in previous years. Sales of top-end smartphones, a market dominated by Apple and Samsung, were lower than predicted during the Christmas holiday season, leading to worries that the market [...]
Why the British love of greeting cards could help this company float on the stock market April 22, 2014 What employs 100,000 people around the country, has sales of £1.6bn and is stocked by one in six retailers around the country? No, not booze, it’s greeting cards. One of the biggest players in the sector, The Card Factory, this morning unveiled plans to float on the stock market. The company has used the British [...]
Investors cheer recovery plans for Debenhams April 15, 2014 DEBENHAMS’ shares climbed four per cent yesterday as investors welcomed plans to refocus its promotional strategy after a disastrous first half in which profits fell by almost a quarter. The department store group laid out plans yesterday to cut back on promotional activity, extend delivery times for online orders and partner with new brands to [...]
Debenhams loses out to rivals as profit plunges almost 25pc April 15, 2014 Debenhams has just announced a fall in half-year pre-tax profit of 24.5 per cent, to £85.2m. The drop is in line with expectations, the high street store stressed, but shows the still challenging and competitive environment, particularly in the UK, with which it’s having to cope. Chief executive Michael Sharp said the store’s taking “decisive [...]
City Matters: Why Britain should be watching Italy’s reformist new leadership closely April 14, 2014 THE TURNOVER of Italian governments has been a regular feature of the European political structure for many years. Matteo Renzi’s recent elevation into the Prime Minister’s position has therefore been regarded in some quarters with ennui. He faces formidable challenges – not least questionable support within the Parliament, and attempting to reform the Italian political [...]
Winter floods City at annual Christmas bash April 10, 2014 WITH May fast approaching you might think festive parties are a distant, mulled wine-filled memory but not for Winterflood Securities, which held its annual and undeniably epic Christmas party last night. The Old Billingsgate building down on the Thames provided a new but bountiful platform for the do. This year’s theme was old school City [...]
Clothing sales at M&S set to come up short April 7, 2014 MARKS & SPENCER chief executive Marc Bolland is expected to come under renewed pressure this week when the retailer posts yet another fall in underlying sales for its key clothing arm. The high street retailer is expected to report a decline of around one per cent in like-for-like general merchandise sales – which included clothing [...]