M&S misses sales forecast April 17, 2012 Marks & Spencer missed forecasts for underlying fourth quarter sales, with growth in food sales failing to offset a weaker outcome in general merchandise. The UK’s biggest clothing retailer, which also sells homewares and upmarket foods, said on Tuesday it would, however, meet expectations for 2011/12 profit. M&S said sales at stores open over a [...]
THE TIPSTER Not just any trading report April 16, 2012 British favourite Marks and Spencer has had a good run so far this year, rallying some 25 per cent before giving some of that back in the recent correction by stock markets. Today’s results will be keenly watched to see just how well its clothing sales have held up where they could benefit from the [...]
Food will help Marks & Spencer post fourth quarter sales rise April 15, 2012 MARKS & SPENCER is expected to post a modest rise in fourth quarter sales tomorrow, as strong food sales help to offset more subdued growth at its general merchandising division. Analysts predict Britain’s biggest clothing retailer, whose clothes are modelled by the ‘60s supermodel Twiggy, to reveal a 1.6 per cent lift in like-for-like food [...]
BEST of the BROKERS April 10, 2012 PETROFAC Liberum has cut its rating on the engineering group from “buy” to “hold” but leaves its target price on the stock unchanged at 1822p. As the shares are now within five per cent of the target, and ahead of new contract awards, the broker says Petrofac looks fair value. PETROPAVLOVSK Nomura remains positive on [...]
FTSE 100 dragged lower as fears of fresh slump weigh on bank shares March 29, 2012 HEIGHTENED worries over global economic growth, after more disappointing data from America and the UK, dragged Britain’s leading shares lower yesterday, with energy and banking stocks taking the biggest hit. The FTSE 100 index closed down 66.96 points or 1.2 per cent at 5,742.03, extending its falls into a third straight session and reaching a [...]
The best way to fit P Diddy’s suit? Keep him relaxed March 29, 2012 I have recently been over in LA fitting various people for the Golden Globes and the Oscars. The most frequent question I was asked was “what makes the perfect suit?” The first step is finding the right tailor. It needs to be someone you can relate to. They must understand your personality and how to [...]
Mining gains offset retail weakness March 29, 2012 The FTSE was broadly flat in early trading with a bounce back in the mining sector helping to offset weaknesses among blue chip retailers like Marks & Spencer. Official figures which yesterday saw the UK’s GDP figures revised down have hit investor sentiment while energy stocks are coming under pressure from volatile oil prices. But [...]
FTSE buoyed by retailers as investors eye Budget March 21, 2012 THE FTSE 100 headed up in early trading as retailers regained some momentum while investors were turning their attention to the Chancellor’s budget speech. George Osborne is expected to rejig taxes while seeking to keep his austerity plan on track. However figures showing that that public sector net borrowing hit a record for February cast [...]
FTSE pulled down by poor showing from energy stocks March 15, 2012 Britain’s leading share index slipped yesterday, weighed down by weakness in heavyweight energy stocks after recent gains, with investors also looking ahead to futures and options expiries. At the close, the FTSE 100 index was down 4.71 points or 0.1 per cent at 5,940.72, having shed 0.2 per cent in the previous session following five [...]
CITY MOVES | WHO’S SWITCHING JOBS March 14, 2012 KPMG Forensic KPMG has announced the appointment of James Siswick as director of its financial services forensic team. He will help drive the expansion of the firm’s financial crime business, with anti-money laundering and sanctions as his key areas of interest. Siswick joins after fourteen years at Deloitte, where he most recently worked as director [...]