Best of the Brokers for 10 October 2013 October 9, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com CREST NICHOLSON Goldman Sachs has started covering the housebuilder with a “buy” rating and a 530p target, as it lifts its forecasts for the entire industry. While GS thinks Rightmove, Persimmon and Talyor Wimpey are the best plays on the UK housing recovery, [...]
John Lewis retains crown as Britain’s most trusted retailer October 8, 2013 JOHN LEWIS has been voted Britain’s most trusted retailer, according to research out today that showed that overall trust in retailers has hit a four-year low. Of the 10,000 shoppers surveyed by consultancy firm OC&C Strategy, 96 per cent said they trusted the department store group, followed by other heritage brands Marks & Spencer and [...]
London Report: Retail gloom and US gridlock weigh on FTSE October 8, 2013 THE UK’S top share index slipped to three-month lows yesterday as weak data and downbeat analyst comments hit retailers and the fiscal deadlock in the United States kept broader sentiment subdued. In contrast to buoyant recent British data, retail sales growth slowed for a second month in September, according to BRC numbers. Analyst notes on [...]
M&S stock falls on analyst cut October 7, 2013 A STRING of broker downgrades hit shares in retailer Marks & Spencer yesterday, as analysts fretted over the chances of boss Marc Bolland’s autumn-winter clothing collection. Credit Suisse expects M&S to post a steep fall in first-half profits, with a 1.5 per cent drop in general merchandise sales. And Deutsche Bank cut forecasts for the [...]
Cranswick sausage sales sizzle but pig prices weigh on profits October 7, 2013 THRIFTY shoppers in search of cheaper meats such as pork and bacon helped boost Cranswick’s sales in the first half of the year. The Yorkshire-based company, which supplies retailers such as Marks & Spencer with pies and sausages, said total sales rose 15 per cent in the six months to 29 September. However it warned [...]
M&S director of Asia to leave at end of October September 30, 2013 MARKS & Spencer is to see more changes to its senior management after confirming last night that its Asia regional director is to leave after two years with the company. The high street retail giant said Pascal Martin is to step down at the end of October “to pursue new opportunities outside of the business”. [...]
Management shakeup for M&S as Asia exec leaves September 30, 2013 British retailer Marks & Spencer (M&S) is to see more change to its senior management. Sky News' City editor Mark Kleinman reported that Pascal Martin, the executive responsible for the 120 M&S stores in Asia, is to leave next month, having been with the company only since 2011. His replacement, says Sky, is Bruce Findlay, [...]
Nokia boss Elop takes £15.8m golden handshake to move back to Microsoft September 19, 2013 A Nokia announcement to shareholders has shown boss Stephen Elop received a €18.8m (£15.8m) sum to move to Microsoft (release). Tech giant Microsoft snapped up Nokia's mobile devices deal in a €5.33bn (£4.5bn) deal at the start of September. Elop's new role is as Microsoft's vice president of devices and services. That's a little more [...]
Best of the brokers for 12 September 2013 September 11, 2013 ADVANCED MEDICAL SOLUTIONS Numis stuck with its “hold” rating and 84p target for Advanced Medical Solutions, following results yesterday that were in line with estimates. The outlook for Advanced Medical Solutions remains positive with progress expected in the company’s Bulk business and US LiquiBand. MARKS & SPENCER Shore Capital reiterated its “buy” rating for Marks [...]
Marks & Spencer reveals plan to revamp its shops September 10, 2013 SHARES in Marks & Spencer rose two per cent yesterday as the latest phase of the retailer’s turnaround plan won the City’s approval. Chief executive Marc Bolland showcased a new layout for its womenswear range at the Oxford Street Pantheon store that it hopes to roll-out across the UK. The changes include a new shoe [...]