Morrisons recovery continues September 13, 2018 Morrisons shares are lower today despite the company reporting a strong set of first-half figures. Same-store-sales for the six-month period jumped by 4.9% and second-quarter sales jumped by 6.3% – a nine year high. Stripping out one-off adjustments, profit increased by 9% to £193 million. When you factor in debt restructuring costs and charges relating [...]
City Moves for 13 September 2018 – who’s switching jobs at Punter Southall Aspire, Nomanini and Ofcom? September 13, 2018 Today's City Moves cover financial planning, fintech and telecoms. Take a look at these movers and shakers: Punter Southall Aspire Punter Southall Aspire, a leading investment, savings and workplace pensions company, has appointed Peter Selby as its new managing director of retail advice to manage its fast-growing financial planning business. Peter joins from Scottish Widows, [...]
City Moves for 13 September 2018 – who’s switching jobs at Punter Southall Aspire, Nomanini and Ofcom? September 13, 2018 Today's City Moves cover financial planning, fintech and telecoms. Take a look at these movers and shakers: Punter Southall Aspire Punter Southall Aspire, a leading investment, savings and workplace pensions company, has appointed Peter Selby as its new managing director of retail advice to manage its fast-growing financial planning business. Peter joins from Scottish Widows, [...]
Plus-size retailer N Brown Group announces departure of chief executive Angela Spindler September 12, 2018 Digital fashion retailer N Brown Group has announced chief executive Angela Spindler will step down at the end of the month. Current chief executive officer of the financial business, Steve Johnson, will step into the job until a permanent replacement is found. The online outlet, which stocks plus-size brands such as Simply Be and Jacamo, [...]
ERG’s post Brexit plans for Irish border revealed September 12, 2018 The Irish border issue can be resolved through "the mutual trust on which regular trade depends", a new proposal put forward by pro-Brexit MPs today has said. The European Research Group's 19-page document suggests existing technology will make border checks unnecessary, while physical inspections can be carried out at exporters' or importers' premises, with exemptions for "the [...]
Hermes posts huge profit spike as China demand pushes it to new heights September 12, 2018 Hermes delivered a record operating margin for the first half of 2018 today, as well as posting a 17 per cent jump in profit to reach €708m (£631m). The French luxury handbag maker saw group revenue rise by five per cent year on year to €2.9bn for the six months ending 30 June, with its [...]
Zara owner Inditex sales creep up as it expects profits to boom in second half September 12, 2018 The Spanish owner of high street store Zara Inditex today reported a steady increase in sales in the first half of the year. The figures The world's biggest clothing retail group said sales rose three per cent in the first six months of 2018, just surpassing €12bn (£10.7bn) for the first time. Net profit beat first half records, [...]
Dunelm to simplify after profits drop in ‘difficult and disappointing’ year September 12, 2018 Homeware retailer Dunelm has said it will simplify the business following a “difficult and disappointing” year, which saw profits fall nearly seven per cent. Read more: Mike Ashley proclaims House of Fraser strategy will be a 'game changer' The figures The company said revenue for the year ending 30 June was £1.05bn – 10 per cent [...]
More of the same from Apple? September 11, 2018 Earlier this year Apple made history in becoming the first US company to achieve a $1trn valuation, a level it maintained when it crossed above $207 a share last month. Since then the share price moved up to as high as $229.67 earlier this month, before embarking on a four-day slide prompted by some profit-taking, [...]
Alive and kicking: JD Sports thrives in struggling high street environment September 11, 2018 JD Sports sprinted ahead of its high street rivals as it boosted both profit and revenue margins in its interim results today. The figures The shoe and sportswear retailer posted a 35 per cent year-on-year hike in revenue to £1.85bn for the six months to the end of August while profits before tax stepped up [...]