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 [...]
Intelligent luxury under a hot blue sky January 16, 2011 ABU Dhabi sounds like a heady jumble of car, construction and human. In the daytime, the air is thick with noise as it is thick with the pervading haze of dust blown in from the sandlands to the south and thrown up by the never-ending construction. It softens the otherwise relentless sunshine, rendering everything (including [...]
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 [...]
Dixons year profit to be at bottom end January 13, 2011 Dixons Retail, Europe’s No. 2 electricals retailer, forecast full-year profit around the bottom end of market expectations after Christmas sales in the UK were hit by December’s poor 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 [...]
Mouchel pans Costain’s new takeover bid January 6, 2011 CONSTRUCTION firm Costain made an increased all-share offer for struggling business services group Mouchel yesterday, which valued the firm at around £150m, excluding its near-£100m debts. Mouchel, which acts as a consultant on infrastructure projects, rejected the offer yesterday afternoon, claiming that the bid significantly undervalued the business. Costain said it would offer 0.5947 new [...]
The nerd’s revenge: only elites need apply January 6, 2011 AN investment banker’s quandary: how do you get your favourite clients to invest a large chunk of cash in a private firm on the basis of little financial information and a huge valuation? If anyone knows, it’s those ex-Ivy Leaguers at Goldman. Surely practised in the art of sending out intriguing invitations to events for secret [...]
Four of the best resorts for a wild and wicked break January 3, 2011 BEST FOR CRAZY PEOPLE REVELSTOKE, CANADA WANT to go somewhere genuinely new and yet nonetheless outrageously awesome? Try Revelstoke. Deep in the Canadian Selkirks, this remarkable resort only opened in Winter 2007. It is still, partially, a work in progress, but when it’s complete, it will be North America’s largest ski area, with a colossal [...]
Behind the scenes at the house of KRUG December 19, 2010 KRUG, the grand old Champagne house, has been feeling a little unloved of late. Revered across the world as a wine that’s emblematic and long-lasting, it is perhaps perceived as a Champagne to be bought, sold and stored, rather than drunk in celebration. This was not always so, and Krug wants to have fun again. [...]
Kesa profit is up but Comet falling behind December 8, 2010 ELECTRICALS group Kesa yesterday reported a 52 per cent rise in profit – helped by sales of televisions for the World Cup in the summer. But losses at its UK arm Comet increased to £5.4m from £1.5m, as the bill for store revamps and tough trading conditions took their toll. The company said it would [...]
A Twentieth Century business model can’t keep up with leaner competitors December 8, 2010 THERE isn’t anything particularly wrong with the way management is running Game Group. Like-for-like sales are still falling, an inevitability when one considers the unbelievable hype that surrounded the Nintendo Wii last year, but the declines are starting to narrow. The firm’s decision to focus on market share also appears to make sense, as does [...]