Marks & Spencers has released another set of disappointing numbers – is the new boss the same as the old boss? April 8, 2016 So here we are again. Marks & Spencer has put out another set of dismal results, marking the 17th quarter of clothing sales declines out of 18 at what is the nation’s defining retailer. The story was similar to so many that we’ve heard before: general merchandise was a disappointment (although admittedly, the 2.7 per cent [...]
Marks & Spencer’s share price soars as it reveals better-than-expected fourth quarter figures in Steve Rowe’s first results (but clothing is still down) April 7, 2016 Marks & Spencer's share price soared more than three per cent this morning after posting a better-than-expected set of fourth quarter results – albeit yet another set of declines in general merchandise. The figures Group sales at the high street giant were up 1.9 per cent in the 13 weeks to 26 March, but as with [...]
Will Marks & Spencer’s new boss Steve Rowe “kitchen sink” the retailer? April 4, 2016 Marks & Spencer's new boss Steve Rowe picked up the reins from Marc Bolland on Friday – just days before the troubled retailer is due to reveal its fourth quarter figures. If M&S' most recent set of results is anything to go by, investors can probably expect another set of declines – particularly within general [...]
Bring me sunshine: FTSE 100 starts the day on a springlike note as miners bounce back March 30, 2016 Markets were clearly taking note of the weather this morning, with the FTSE 100 jumping almost 1.3 per cent to 6,183.8 points in the first minutes of trading. The market was pushed higher miners, who swung back from yesterday's losses to lead the FTSE. Anglo American rose 7.9 per cent to 516.4p, while BHP Billiton [...]
Market close: FTSE holds steady, but Glencore leads the commodities sector down March 29, 2016 The FTSE 100 clocked a so-so first day back in the office after Easter, remaining unchanged at 6,105. However, there was more than just leftover Easter eggs for traders to sink their teeth into. Commodities giants were left bruised after a note from Barclays warned that the sector could be in for a fresh rout. [...]
Fruit juices, drinks and smoothies might not be one of your “five a day” according to new sugar study March 24, 2016 Just a few weeks after it was revealed how much sugar was lurking in your Starbucks coffee drinks and a fortnight since George Osborne announced a sugar tax on soft drinks, it seems fruit juice could be another villain too. The authors of a new study have even gone so far as to suggest that [...]
Next warns year ahead will be worst since 2008 despite posting rise in full-year revenues and profits March 24, 2016 Next has warned the year ahead could be the most challenging since the recession, as it reported rises in both full-year revenues and profits today. The figures Next reported a five per cent increase in underlying profit before tax, totalling £821.3m from £782.2m last year. Operating profit rose by almost the same level, 4.9 per cent, to £851.8m [...]
Halfords and N Brown share price drops after UBS downgrade, blaming Brexit, Amazon and currency woes March 21, 2016 Shares in Halfords and N Brown have dropped sharply today after analysts at UBS slashed their ratings for both retailers in a bearish note on the sector. The Swiss bank's research arm, UBS Evidence Lab, has warned of on a whole shopping basket of challenges facing retailers this year, including short-term uncertainty over Brexit, wage inflation, currency and the increasing dominance of Amazon. [...]
Budget 2016: The ‘Graph of Doom’ and the UK’s £100bn secret weapon March 16, 2016 Another budget, another round of public funding cuts. Whatever the efficacy of George Osborne’s latest round of cuts to public services, one thing is increasingly clear: while government backs British business to flourish and focuses on ensuring the UK is ‘living within its means’, someone must fill the growing public services gap. When projecting their future spending power [...]
Silvertown Partnership prepares shortlist for funding of Royal Docks £3.5bn scheme March 15, 2016 The developers behind the £3.5bn regeneration of Silvertown Quays in London’s Royal Docks are in talks with several investors about the next stage of funding as work on the first phase of the 62-acre scheme gets underway. The Silvertown Partnership, a consortium of developers made up of Chelsfield Properties, First Base and Macquarie Capital, are currently [...]