Cruddas takes the reins at CMC Markets January 16, 2013 PETER Cruddas, the majority shareholder in CMC Markets, was last night said to have seized the chief executive’s reins at the spread betting group after a difference of opinion with Doug Richards, who has held the job for the past couple of years. Industry sources said Richards had relinquished the role of chief executive, although [...]
Marketing spend boosted but industry expectations still low January 16, 2013 MARKETING spending has recently seen its highest increases for over a year, research released today reveals. However, this rise was modest, and most business leaders are gloomy about industry prospects over the coming months, according to research from trade body the Institute of Practitioners in Advertising (IPA). The IPA’s Bellwether report, seen as an indication [...]
Wetherspoon costs increase January 16, 2013 JD WETHERSPOON outpaced rival operators during Christmas, the pub chain reported yesterday, with like-for-like sales rising eight per cent over the festive period. However, a surprising hit to profit margins spooked City investors. The company, which runs over 800 pubs, said margins were around 8.2 per cent, which is 1.1 percentage points lower than last year, due [...]
Poor Christmas trade at French Connection UK January 16, 2013 SHARES in fashion retailer French Connection were hit yesterday after it warned of a larger-than-expected loss as Christmas sales were hurt by lower demand and a decision to delay discounting. French Connection said it expected an adjusted pre-tax loss of £7.5m to £8m for the year to 31 January, much larger than the £5.47m analysts [...]
The popularity of ebooks helps to boost profits at Bloomsbury January 16, 2013 THE RISE of ebooks has led to increasing profits at Harry Potter publisher Bloomsbury, despite shoppers spending less on books. The company said that a 58 per cent rise in sales of ebooks meant lower printing and distribution costs, and fewer customers returning books. Ebook sales exploded over Christmas as record numbers of ereaders were unwrapped. [...]
Allardyce livid at ref calls after cup dream dies January 16, 2013 MANCHESTER UNITED 1 WEST HAM UNITED 0 WEST Ham manager Sam Allardyce risked a fine from the Football Association with his criticism of referee Phil Dowd after Manchester United ended his team’s FA Cup campaign in last night’s third round replay. Allardyce was furious that Dowd awarded United a penalty, which Wayne Rooney could not [...]
Hammers set to face Rooney January 15, 2013 WEST Ham have been warned they will face stars Wayne Rooney and Nani in a strong Manchester United line-up in tonight’s FA Cup third round replay at Old Trafford. England striker Rooney has not played since injuring his knee over Christmas, while winger Nani is also set to return following a 15-match absence. Defender Nemanja [...]
HMV boss vows brand has high street future January 15, 2013 THE BOSS OF HMV said yesterday he was “convinced” the crisis-hit music chain still has a future on the high street, as a number of firms emerged as potential bidders for the company. Deloitte was officially appointed as administrator to HMV yesterday morning, putting 4,123 jobs at its headquarters and 223 stores at risk. But [...]
Ocado boosted by Christmas shopping rush January 15, 2013 ONLINE grocer Ocado said it enjoyed a very merry Christmas after posting a 14 per cent rise in gross sales to £91.6m in the six weeks to 6 January. “It was a very good festive season for us, evidenced by growth in orders, basket size and sales,” chief executive Tim Steiner said. “As has been seen [...]
Party food helps Co-op deliver a modest rise in yuletide sales January 15, 2013 BRITISH food retailer the Co-operative Group said yesterday that underlying sales grew 2.2 per cent at its food stores over the three week Christmas period, buoyed by sales of champagne, seasonal produce and desserts. The group, which is owned by over 6m consumers and says it is the fifth biggest food retailer in Britain, posted [...]