Best of the Brokers for 24 June 2015 June 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS RBC Capital Markets has downgraded the Primark owner from “outperform” to “sector perform” with a target price of 3,200p. The broker said that while Primark relatively rare international roll-out story, the company is lacking earnings momentum and its sees more [...]
B&M eyes more stores as sales jump by a third May 28, 2015 Bargain retail chain B&M has hiked its store expansion targets after reporting a near 30 per cent jump in revenue in its first year as a public company. The company, which sells everything from toys to electrical goods and furniture, yesterday said sales jumped 29.5 per cent to £1.6bn in the year to 28 March, [...]
Matalan chief Jason Hargreaves makes retailer a family affair May 14, 2015 Jason Hargreaves made a trip to Oxford Street earlier this year with his four-year-old daughter in tow. The managing director of Matalan, the out-of-town value fashion and homeware chain founded by his father, John Hargreaves, 30 years ago, came to view its first ever central London store at the east end of on Oxford [...]
Sunday Times Rich List 2015: London has more billionaires than any other city in the world April 26, 2015 There are more billionaires in London than any other city in the world, with 80 of them calling the capital home, cementing its status as a playground for the super-rich. London is home to 80 of the UK's 117 billionaires, who hold a combined wealth of £325bn, accounting for 59 per cent of the entire rich [...]
Best of the Brokers for 23 April 2015 April 22, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS Shore Capital reiterated its “hold” rating on the food processing group, which owns Primark. The broker predicts that downward pressure on Primark’s margins will continue, but added: “Primark’s progress has never been, and should never be expected to be a [...]
Associated British Foods’ share price falls as Primark sales fail to sweeten sugar business April 21, 2015 The figures Primark owner Associated British Foods (ABF) felt the pinch from falling sugar prices in its first half, with pre-tax profit across the group halving to £213m for the six months to the end of February, compared with £434m during the same period last year. The news caused shares in ABF to open three per cent down. [...]
Zara founder Amancio Ortega’s buying spree on Oxford St April 12, 2015 The billionaire founder of Spanish clothing empire Inditex has snapped up a cluster of buildings on the east end of London’s Oxford Street. Amancio Ortega, who founded the fashion giant Zara in 1975, is understood to have bought a development at 26-48 Oxford Street from property companies Land Securities and Frogmore through his investment vehicle [...]
FTSE hits a high but slips back despite UK inflation data – London Report March 24, 2015 ANOTHER day, another all-time high was the call yesterday for Britain’s top share index – although it did slip back at the close – and record low UK inflation data kept investors confident over the market’s longer-term prospects. The blue-chip FTSE 100 index rose as much as 0.4 per cent to a record intraday high [...]
John Lewis is named the retailer with the strongest reputation March 19, 2015 Middle-class shoppers’ favourite John Lewis was yesterday declared the retailer with the best reputation in Europe, the Middle East and Africa (EMEA), a survey found. The survey, by the Reputation Institute, also showed that among the firms whose reputation had improved the most between 2013 and 2014 were WH Smith and H&M. However, there was bad [...]
Sir Philip Green sold BHS for £1 – but can the high street stalwart be salvaged? March 16, 2015 It’s a rare day when retail mogul and the official patron saint of lost causes Sir Philip Green decides to throw in the towel. The tycoon’s decision last week to back out of BHS after 15 years of ownership and offload it to a previously unknown group of investors for £1 set the City’s retail [...]