Boohoo.com shares hit new low despite 62 per cent leap in sales March 31, 2014 SHARES in Boohoo.com fell briefly below their offer price yesterday for the first time since their market debut, despite the online fashion retailer reporting a jump in full-year revenues. The Manchester-based company had its first day of trading on 14 March and saw shares open at 85p – well above the offer price of 50p. [...]
City Moves for 01 April 2014 | Who’s switching jobs March 31, 2014 Hammerson The retail property company has announced the appointment of Sophie Ross as head of multichannel. She joins from Home Retail Group, where she held multichannel and marketing roles. HSBC Global Asset Management The asset management business has made two senior appointments to its equity product team. Nacho Font joins from DIAM International, where he was a [...]
Boohoo revenue soars 62pc March 31, 2014 Online fashion retailer Boohoo.com finished the year to 28 February with net revenues enjoying a year-on-year rise of 62 per cent to £109m, according to the company's year end trading update. Boohoo.com saw earnings before interest, taxes, depreciation and amortization for the period in line with expectations, increasing 200 per cent on the previous year. [...]
What you need to know before the open March 31, 2014 European markets are expected to open higher this morning in wake of last week's gains. Investors hope that the European Central Bank will take a more dovish approach to monetary policy and China will take steps to counter economic slowdown. German retail sales rose by a better than expected 1.3 per cent in February. Corporate [...]
Chinese on brink of House of Fraser bid March 31, 2014 HOUSE of Fraser is on the verge of a takeover by a Chinese conglomerate, in a landmark deal valuing the retailer at £450m. Chinese powerhouse Sanpower Group, led by 49-year-old multi-millionaire Yuan Yafei, has tabled an all-cash offer to buy out the 165-year-old British department store’s diverse patchwork of shareholders and its £160m of debts. [...]
What the other papers say this morning – 31 March 2014 March 31, 2014 FINANCIAL TIMES SocGen accused over Libya deals The Libyan Investment Authority has accused Société Générale of helping to funnel bribes worth tens of millions of dollars to close associates of Saif al-Islam, the son of former Libyan leader Muammer Gaddafi. The claim was made in a $1.5bn lawsuit filed against the French bank in London’s [...]
Bottom Line: Chinese ambition trumps a market return March 31, 2014 ALMOST 25 years ago, a Hong Kong retail tycoon called Dickson Poon stunned London by taking a chance on Harvey Nichols – a fading department store in dire need of a makeover. Poon was one of the first to spot a trend that now seems obvious; the Asian shopper’s thirst for designer labels that has [...]
London bounce for new listings on stock debuts March 31, 2014 NEWLY listed shares in London outperform the wider market by 10.5 per cent in the first year according to a new study, sharpening the investment potential of the current crop of firms seeking a listing. Newly listed shares, sold through initial public offerings (IPOs), also outperform their more established rivals over the first six months [...]
City Moves for 31 March 2014 | Who’s switching jobs March 30, 2014 Trowers & Hamlins Rebecca Wardle has been appointed real estate partner in the law firm’s London office. She specialises in large-scale property transactions, with a focus on site acquisition, development, joint ventures and estate regeneration. Edmond de Rothschild Group Greg Clerkson has been appointed head of global consultant relations in Edmond de Rothschild’s asset management [...]
Canary Wharf owner sees shares rocket 21pc on results March 28, 2014 Songbird Estates, the developer of Canary Wharf, has posted a pre-tax profit jump from £201.5m to £900.8m. Shares leapt 13 per cent at the open this morning, and are now up an impressive per cent at 235p per share. Underlying profits have dropped marginally to £22.4m, but the firm got a boost from surging London [...]