Ted Baker revenue rise is fuelled by womenswear October 7, 2010 FASHION chain Ted Baker yesterday reported a 25 per cent leap in half-year profits but issued a cautious outlook for the full-year due to the “uncertain economic environment”. For the 28 weeks to 28 August, pre-tax profits rose to £7.5m while group revenues came in at £88.1m, up from £76.6m the year before. Womenswear sales [...]
Thorntons profit slumps with rising cocoa price taking its toll October 6, 2010 CHOCOLATE maker and seller Thorntons posted a 2.4 per cent fall in full-year profit as own store sales fell and said it expected market conditions to remain tough. The firm, which issued a profit warning in May, said yesterday it made a profit before tax of £6.1m in the year to 26 June. That compares [...]
Weak US employment figures give Fed room for fresh policy stimulus October 6, 2010 US private employers unexpectedly shed jobs in September, reinforcing the conviction that the US Federal Reserve as early as next month will embark on another round of monetary policy stimulus to support the economic recovery. ADP’s national employment report yesterday said US private employer payrolls fell by 39,000 jobs in September. The median forecast from [...]
Christmas will come early to the high street October 6, 2010 HIGH-STREET retailers have every reason to be cautious right now. If it isn’t the government squeezing households’ disposable incomes with one hand and hiking VAT with the other, then surges in the prices of commodities such as cotton, which is at a 15-year high, are threatening margins. Only last month Next chief executive Simon Wolfson [...]
THE TIPSTER October 4, 2010 NON-FARM payroll data this Friday should provide the usual fireworks. Marking the start of the final quarter of 2010, this is a crucial figure. Markets have been jumpy amid continuing uncertainty about the global economy and this monthly release has moved stocks around dramatically in the past year. Its trajectory in the coming months could [...]
BEST OF THE BROKERS October 4, 2010 AHOLD RBS has lowered its target price, but still rates the food retailer a “buy” with a target of €11.80. The broker has cut earnings per share forecasts for 2010 to 2012 by four to six per cent, chiefly due to the recent strength of the euro against the dollar. It believes the departure of [...]
THE TIPSTER October 3, 2010 SUPERMARKET J Sainsbury had a bumper summer with the share price plotting a course towards the 400p mark. The trading statement, due mid-week, has potential to bring buyers back in. For as long as talk of a double dip recession is kept at bay retailers may be in for a good Christmas. But be warned, [...]
M&C Saatchi expects Xmas adverts boost September 30, 2010 AD AGENCY M&C Saatchi hopes a bumper Christmas for retailers will help it beat full-year expectations. The update came as Saatchi posted a 17 per cent rise for pre-tax profit to £6.3m and the same size sales rise to £58.2m, for the six months to the end of June. The news adds to hopes that [...]
Theo Fennell dismisses VAT rise September 29, 2010 Jeweller Theo Fennell said yesterday January’s VAT rise is not a worry as most of its affluent customers are from overseas and not liable for the tax. Chairman Rupert Hambro said the business had performed well over the last six months, while both its flagship Fulham Road and City stores have been upgraded. The company’s [...]
Nintendo 3DS not ready in time for Xmas September 29, 2010 NINTENDO has failed in its bid to rush its new 3DS handheld games console out in time for Christmas. The Japanese firm announced yesterday the device, which claims to create a 3D effect without the need for glasses, will be released in February in its home country and March in Europe and the US. The [...]