DSG hires ex-Majestic Wine boss September 8, 2009 DSG International, which owns the Currys and PC World chains, has drafted in former Majestic Wine boss Tim How as a non-executive director to help it get back on track. How previously led a management buyout of the wine warehouse chain in 1989, taking it through an Aim flotation in 1996 until he eventually left [...]
ANALYST VIEWS: WHAT DO YOU MAKE OF DSG’S TRADING UPDATE? September 2, 2009 MATTHEW MCEACHRAN SINGER CAPITALDSG indicates that revenues are slightly ahead of expectations. Overall, and ahead of the all-important winter trading period, and the World Cup next summer, this statement is encouraging. But, within this, like-for-like sales in the UK were down by 14-15 per cent. JOHN STEVENSON KBC?PEEL HUNTUK like-for-like sales remain challenging at both [...]
Sales outlook starts to improve for DSG… September 2, 2009 DSG, the electrical retailer behind Currys, Dixons and PC World, yesterday posted a smaller-than-expected fall in quarterly sales and said that the outlook had improved slightly. The firm also confirmed it had sold its loss-making Polish division for a nominal €1 (60p) to IDMSA Brokerage House, following the shedding of its other loss-making Swedish and [...]
Apple’s store on Regent St bears fruit September 1, 2009 APPLE’S flagship store in London is so successful that it rakes in more than double the amount of cash per square foot than most of its rivals. The Regent Street store took £60m for the year ending September 2008, giving it a sales density of £2,000 per square foot. In comparison, the average Currys store [...]
CITY MOVES WHO’S SWITCHING JOBS September 1, 2009 Martin CurrieThe investment management firm has appointed Alastair Barrie as global head of hedge fund sales and Clayton Cheek, pictured, as US head of hedge fund sales. Barrie joins from RBS, where he was a director of institutional business. He has also worked as director of global hedge fund sales at Henderson. Clayton, who will [...]
Mid-cap mania to dominate corporate news this week August 31, 2009 THIS week is shorter than usual due to the bank holiday and trading volumes are likely to remain low, but there are enough mid-cap firms reporting to keep life interesting. FTSE 250 biotechnology firm Dechra Pharmaceuticals kicks the week off with its final results, which are not expected to add very much to its pre-close [...]
BILL OF THE WEEK August 16, 2009 OUR BILL this week comes from four diners who sampled the Chino-Latino delights at St Martin’s Lane Hotel’s Asia de Cuba restaurant this week – though you wouldn’t envy them the rum-induced headache the next day. After warming up with Latino cocktails and starters – including fusion-themed tuna, calamari and duck dishes – they moved [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 2, 2009 THE SUNDAYSThe Sunday TelegraphDSG CHAIR ABANDONS CRYSTAL BALLThe outgoing chairman of DSG International, the Currys owner, has described the reduction in the retailer’s market size as “painful” and admitted he failed to see the downturn coming. Sir John Collins said he told John Browett, the electrical retailer’s chief executive, not to worry about the prospect [...]
BILL OF THE WEEK August 2, 2009 PERHAPS it’s just me, but there seem to have been an awful lot of City types eschewing their fine dining venues recently for local Indian and Chinese haunts where they can splash out, safe in the knowledge it won’t cost the earth. At £1,229.85, a curry for four people might sound like a pricey night [...]
CITY MOVES WHO’S SWITCHING JOBS July 20, 2009 KewillKewill, the provider of software and solutions that simplify global trade and logistics, has announced the appointment of Karen Bach to the board as chief financial officer (CFO) with effect from 17 August. Bach joins Kewill from Advanced Computer Software, where she was CFO, where she was closely involved in its over the last year [...]