Last Week in the City: Trade wars begin July 6, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (2 to 6 July 2018). The World Cup is “distracting” for participants in global markets, according to Citigroup. "We find that football is indeed distracting, subtly impacting market depth, traded volumes and execution cost,” the US [...]
Why Debenhams has had three profit warnings in a year and could Mike Ashley help? June 20, 2018 City grandee Crispin Odey, whose hedge fund holds a short position in Debenhams, said last year that the retailer was in a race with House of Fraser “as to who will go down first”. While House of Fraser’s fate will be sealed at its CVA on Friday, Debenhams’ future looks dark, with the embattled department [...]
Employee advocates could become the next generation of online influencers as brands search for new marketing methods April 30, 2018 RECENT scandals around the use of private personal data and incoming regulations such as the EU’s General Data Protection Regulation are pushing companies to find new methods of promoting their brands. One approach gaining ground is advocacy. Getting consumers to become an online advocate for a product and spread positive sentiment through the internet can [...]
Investors ignore disruptive weather at their peril March 5, 2018 The "Beast from the East" closed schools, kept trains in their sidings and hit Britain's productivity. But can inclement weather move the stock market by affecting investors' minds? Findings of a research project published in the Journal of Accounting Research in 2015 concluded that financial analysts respond more slowly to the implications of earnings announcements [...]
Primark hires former Zara Basic head Paula Dumont Lopez in bid to move up the clothing retailer ranks December 23, 2017 Primark has pulled in Paula Dumont Lopez, a former head of product at Zara Basic, as its new womenswear chief. The budget high street chain, which currently lags Marks and Spencer (M&S) and Next as the UK’s third largest clothing retailer, is to begin in January next year. Read more: Next’s sales return to growth [...]
Primark owner Associated British Foods (ABF) share price dips as it reports jump in revenue and profit November 7, 2017 Primark’s parent company has reported a jump in profit and revenue in the 52 weeks to 16 September The figures Associated British Food’s (ABF) group revenue was up 15 per cent to £15.4bn, while adjusted operating profit rose 22 per cent to £1.36bn. Primark sales were up 19 per cent year-on-year, rising from £5.95bn to [...]
Sunday Times Rich List 2017: Who topped the under-30 list, and who lost money this year? May 7, 2017 Singer Adele joined the Sunday Times Rich List of 1,000 richest people for the first time, and was the highest-ranking musician on the young rich list with a £125m fortune. Other musical millionaires on the under-30 list included Ed Sheeran, with £52m, and the boys from One Direction, who ranked higher than their former bandmate [...]
Sunday Times Rich List 2017: The wealth of Britain’s billionaires has boomed despite Brexit, but Mike Ashley, Sir Philip Green and Selfridges owning Weston family lose millions May 7, 2017 The wealth of Britain’s richest has rocketed with more billionaires than ever before, new figures reveal. Brexit failed to derail the rise of the super-rich and the collective cash of the world’s wealthiest topped a whopping £658bn – that’s up 14 per cent on last year. There are now 14 more billionaires in Britain than [...]
Where things stand one year after BHS went into administration April 25, 2017 BHS was almost 90 years old when it went into administration a year ago today, but all that remains of its legacy now is a string of empty shops and an online store. When retail tycoon Sir Philip Green sold the chain for just £1 to serial bankrupt Dominic Chappell in 2015, he set off [...]
Primark owner warns benefit of sterling’s fall will only last so long February 27, 2017 Primark owner Associated British Foods' (ABF) share price edged downwards this morning after it warned its boost from the devaluation of sterling will fade later in this year. The figures In its trading update, ABF said it expects Primark sales to be 11 per cent higher, when measured at constant currency, but that this growth would be "driven [...]