Relief for Apple as sales soar January 18, 2011 APPLE beat expectations with its quarterly results yesterday, buoyed by strong Christmas figures that saw the company sell 7.3m iPads, 16.2m iPhones and 19.5m iPods during the period. Analysts had expected earnings per share (EPS) of $3.95 versus an actual EPS of $4.64. Revenues were $26.7bn (£16.7bn) compared with a consensus forecast of $24bn. Apple executives will [...]
Angry Spurs fans planning to step up Olympic protest January 18, 2011 TOTTENHAM supporters are planning sit-in protests if the club presses ahead with controversial plans to leave their home of 112 years and move five miles across London to the Olympic Stadium in Stratford. Aggrieved fans desperate for Spurs to stay in their home borough say they are also considering boycotting games, as they and West [...]
Iron boosts Rio Tinto but coal suffers January 18, 2011 GLOBAL miner Rio Tinto posted a six per cent rise in iron ore production in the fourth quarter, powered by Chinese demand, but said coal production suffered after flood-related disruptions in Australia. Rio Tinto said in a production report yesterday that it produced 50.05m tonnes of iron ore in the fourth quarter versus 47.23m a [...]
Carphone says it will reach top of expectations January 18, 2011 Carphone Warehouse yesterday reported brisk trading, driven by a strong performance in its US joint venture with Best Buy. Europe’s biggest mobile phone retailer said it expects full-year earnings to be at the top end of forecasts. The group, which owns 50 per cent of the venture with Best Buy as well as a 47.5 [...]
BEST OF THE BROKERS January 18, 2011 GREENCORE RBS rates the Irish convenience foods producer “buy” with a target price of €1.50. The broker believes Greencore enjoyed solid trading over Christmas, though it expects raw material cost inflation to continue to dampen profits. RBS believes its short-term price is likely to be driven by its proposed merger with Northern Foods. PRUDENTIAL Nomura [...]
Richemont in sales boost led by China January 17, 2011 SWISS luxury goods group Richemont saw healthy sales growth in all business areas in its third quarter as wealthy Chinese customers continued to splash out on Cartier jewellery and timepieces. Overall sales for the three months to 31 December were up 33 per cent, beating analysts’ forecasts. Sales in the Asia-Pacific region rose 42 per [...]
Novus toasts Xmas party lift as revellers splash out January 17, 2011 CHRISTMAS revellers helped the owner of the Tiger Tiger bar chain to a boom in sales. Novus Leisure, the privately owned bar and restaurant operator – it also has Babble, Jewel and the Zoo Bar in Leicester Square – enjoyed an almost eight per cent surge in revenues in December and late November. Chief executive [...]
THE TIPSTER January 17, 2011 INDUSTRIAL giant General Electric reports its fourth quarter earnings on Friday. The company is often seen as something of a barometer for the global economy as a whole but the share price still remains somewhat depressed from the highs of 2007. Demand from emerging economies will continue to lend support to sectors such as its [...]
WEST END FESTIVE HIGH DESPITE SNOW January 16, 2011 Christmas shoppers defied the December snow to boost December sales in London’s West End by 3.8 per cent year-on-year. New West End Company, which represents 600 retailers on Bond Street, Oxford Street and Regent Street, said there was a huge sales increase in the final days before Christmas and in the end of year sales.
Mappin & Webb seeks to become Lord of the Rings January 16, 2011 LUXURY jeweller Aurum Holdings has posted strong Christmas trading results, despite taking a significant hit due to extreme weather conditions. The company, whose portfolio includes high street retailers Mappin & Webb and Goldsmiths, saw like-for-like sales for the five weeks to January 9 increase by 14.5 per cent. The results were boosted by a soaring [...]