THE TIPSTER | Diageo set to toast sales August 20, 2012 THE international spirits maker and brewer, Diageo, will report earnings on Thursday. Currently on the cusp of buying Jose Cuervo tequila, the share price has increased by 13 per cent over the last six months and 50 per cent year-on-year. As with its last earnings report, it appears that the majority of revenue for the [...]
Next shrugs off rain and beats profit forecasts August 1, 2012 SHARES in Next leapt almost seven per cent yesterday after the fashion retailer raised its profit guidance and beat targets for first-half sales growth, boosted by a stellar performance at its online Directory business. The company, which trades from over 500 stores in the UK and Ireland and nearly 200 stores overseas, said total sales [...]
British Land acquires mall July 31, 2012 BRITISH LAND yesterday said it has bought a 50 per cent share in the Eden Walk shopping centre in Kingston-upon-Thames for £41.5m. The firm bought the stake in the 1960s mall from the Universities Superannuation Scheme, its partner on Whiteley Shopping Centre in South Hampshire, which is due to open next year. The pair plan [...]
Fee paying banking will be a very tricky sell July 22, 2012 MARKS & SPENCER ruffled some feathers last week when it announced that it would be charging for the use of its current account – between £15 and £20 a month, depending on whether you want insurance included. In return, customers will receive vouchers for free hot drinks in M&S cafés, M&S vouchers worth £40 and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 17, 2012 FINANCIAL TIMES M&S to charge for current accounts Marks and Spencer is set to become the first UK bank to shun free current accounts as it plans to charge all customers a monthly fee for banking services when it launches later this year. The retailer said it would offer two accounts, priced at £15 and [...]
M&S shakes up management as sales slump July 10, 2012 MARKS & SPENCER announced a raft of management changes yesterday and confirmed that its head of general merchandise Kate Bostock is to leave, as the retail giant revealed its worst quarterly sales figures in years. The company said Bostock will be leaving by mutual consent on 1 October and will be succeed by John Dixon, [...]
Web treats prove to be a real bargain July 10, 2012 SHOPPING is all about justification. “I need that extra jumper because…”. And when it comes to justifying our purchases, we turn to one of two options. “Because I’m worth it” or “because it’s cheap”. Buying decisions, beyond bare essentials, are about treats and bargains. That’s true even in cash-strapped times like the present. Earlier this [...]
RAPID RESPONSES July 10, 2012 Top level failure [Re: Osborne and Tucker have both been damaged by Libor row, yesterday] I’m staggered that both Paul Tucker and Bob Diamond didn’t take notes of their telephone conversations, or indeed have them recorded. Under Financial Services Authority regulations, many of us have to. We’d get fined or disbarred if we didn’t. Quentin [...]
Marks & Spencer hit by summer rains July 10, 2012 Retailer Marks & Spencer posted its worst underlying quarterly sales performance for three and a half years after the wettest April and June since records began hammered trade in womenswear. The firm, which sells clothes, footwear and homewares as well as upmarket foods, also said on Tuesday that the head of its non-food business Kate [...]
THE TIPSTER | Female fashion fails on attractiveness July 9, 2012 HIGH street retailer Marks and Spencer’s is today expected to announce its worst performance since the first quarter of 2009. Despite attempts to revitalise its female clothing arm through celebrity advertising, this area is clearly struggling and weighs on its non-food sector. Given that women’s clothing makes up 60 per cent of M&S’s general merchandise, [...]