BEST OF THE BROKERS January 16, 2011 DIXONS Seymour Pierce rates the retailer a “buy”, despite a weak Christmas sales performance and a computer glitch which wiped £15m off sales. The broker remains confident Dixons can recover in the long-term, despite a possible fall in sales in a difficult retail trading climate. It placed Dixons’ target price at 21p per share. TED [...]
Snow losers for traders looking for volatility January 16, 2011 THE Christmas trading results branded companies as either winners or “snow losers” last week. Tesco shocked the market by offering figures that analysts felt paled in comparison to Sainsbury’s. Thanks to 12,000 tonnes of grit, the supermarket deserved to take the title of winner of the festive race. Toy, clothing and leisure retailers also offered [...]
THE TIPSTER January 16, 2011 DISCOUNT pub group JD Wetherspoon has a trading update due out on Wednesday that should offer some insight as to the impact bad weather had on sales in the pre-Christmas period. A degree of this has presumably been priced in already although broker sentiment does seem to be building against the stock. IG Index is [...]
TRAVEL NOTES January 16, 2011 Dukan Diet’s idyll Let us hope the troubles in Tunisia are over soon. The year’s must-do diet has launched a residential programme in Tunisia at the idyllic Residence Tunis. The three-part plan will see you drop pounds through reducing carbohydrate and fat, gorging on 28 different vegetables and eventually, resuming your normal diet. One for [...]
Northern Foods still open to other takeover bids says CEO January 13, 2011 NORTHERN Foods reported in line Christmas trading yesterday, as its acting chief executive said the door was open for tycoon Ranjit Boparan to make a counter bid that could derail its merger plans. Northern Foods is set to put its £1.7bn merger with Irish food manufacturer Greencore to a shareholder vote on 31 January, but [...]
Tesco shares drop on poor Xmas figures January 13, 2011 TESCO shares took a hit yesterday as it announced disappointing Christmas sales figures. Like-for-like sales in the UK missed forecasts, rising just 0.6 per cent in the six weeks to 8 January. The company blamed the poor weather on the performance with its larger stores worst hit. Tesco shares were one of the poorest performers [...]
Halfords hit as bike sales fall January 13, 2011 HALFORDS issued a worse-than-expected profit forecast yesterday as poor sales of children’s bicycles over Christmas hit the retailer. Cycle sales fell 16 per cent on a like-for-like basis as parents bought gadgets and electronic games instead of bikes. The weakness in bicycles was in contrast to strong car maintenance sales which were up 12 per [...]
Analyst views: Will Tesco bounce back from poor Christmas sales? January 13, 2011 PHILIP DORGAN | ALTIUM SECURITIES If we were to be critical, then we would say it has fallen short of how the market would have expected it to have performed from the time of its third-quarter announcement, whereas Sainsbury’s has actually done better. CLIVE BLACK | SHORE CAPITAL The good ship Tesco UK is certainly [...]
Dixons sees trade dented as the dire weather claims another retail victim January 13, 2011 DIXONS Retail yesterday forecast full-year profit around the bottom end of market expectations after Christmas sales were hit by December’s adverse weather. The company, which runs the Currys and PC World chains in Britain, UniEuro in Italy, Elkjop in Nordic countries and Kotsovolos in Greece, said it expected underlying profit before tax in the range [...]
Game bullish for full-year despite fresh competition January 13, 2011 COMPUTER games retailer Game Group posted 2.1 per cent lower like-for-like sales over Christmas and said annual profit would be within analysts expectations despite increasing competition from downloads. The company has been hit by an absence of new console launches in 2010, increased competition from supermarkets and changing gaming habits, with people increasingly playing mobile [...]