Fund Brexodus slows in July after “quite extraordinary” investor outflows in EU referendum month August 25, 2016 Outflows from the UK fund industry continued in July, but slowed after a “quite extraordinary” investor exodus in June, the month of the EU referendum. Net outflows totalled £1bn in July – an improvement on £3.5bn in June – according to the Investment Association. The strongest outflows last month came from equity funds, £2.2bn, but [...]
Jeweller Tiffany & Co polishes up a sparkling rise in quarterly profit as sales continue to slide August 25, 2016 Dollar strength and weak tourism are still putting pressure on New York jeweller Tiffany & Co. Profit inched up however to $105.7m, sending its stock higher. Shares were up by six per cent in New York following the results announcement. A run of falling sales has sparked a change in strategy at Tiffany, which is now focusing its efforts on growing [...]
Pizza Express revenues up but struggles to keep same slice of the UK casual dining market August 25, 2016 Pizza Express posted robust revenue growth today but the casual dining group struggled to maintain its slice of the UK eating-out market. The figures Turnover grew by 14 per cent to £488m in the year ended 26 June, up from £423m in 2015. In the UK and Ireland like-for-like sales were down by 1.3 per [...]
Latest CBI retail survey another sign of post-referendum resilience August 25, 2016 A new survey from the CBI has shown retail sales smashed expectations in August and shopkeepers expect the good news to keep on coming, in yet more evidence UK consumers are shrugging off Brexit fears and splashing the cash this summer. The number of retailers saying volumes were better this month than they were last year stood [...]
You’ve got male: Jimmy Choo’s decision to man up has proven a hit August 25, 2016 Luxury shoe brand Jimmy Choo unveiled profits more towering than one of its signature wedges today, with operating profits rising more than 40 per cent. The figures Jimmy Choo said revenues had grown 9.2 per cent at reported currency rates in the six months to the end of June, or 3.8 per cent at constant currency. That pushed reported operating profit [...]
City Moves for 25 August 2016 | Who’s switching jobs August 25, 2016 Risk Focus Risk Focus, a provider of control and compliance for regulatory trade and transaction reporting to the global capital markets, has appointed Elena Gaetini as european head of business development and governmental affairs, extending the company’s reach in continental Europe. Elena joins from the Depository Trust & Clearing Corporation, where she served as the director for governmental affairs and the head [...]
Before the bell: What you need to know before the US market open August 24, 2016 It's another scorcher in London and the FTSE 100 is feeling the heat, though European markets are broadly mixed as they digest the Bank of England's latest bond-buying spree. Here's what you need to know before the market open at 2:30pm London time. The S&P is up by 0.8 per cent in the pre-market, while the Nasdaq [...]
The weather this weekend could have a surprising effect on beer sales August 24, 2016 With two of the summer's biggest events – the Notting Hill Carnival and the Reading Festival – due to take place this weekend, Britons will be keeping a close eye on the weather forecast as they make plans for the Bank Holiday. The Met Office has issued a heatwave alert – which prompted a health warning [...]
Paddy Power Betfair posts increase in revenue but loss of £48m in first half-year results since merger completed August 24, 2016 Paddy Power Betfair today revealed a loss of £48m due to merger-related costs in the first half of this year – but reported revenue growth across all divisions. The figures Revenues rose 18 per cent to £759m in the six months to 30 June, up from £642m in the same period of last year. The company [...]
John Lewis looks to boost footfall with £9m investment in its beauty halls August 23, 2016 John Lewis is investing £9bn in its beauty halls to bring new brands to customers and increase footfall. The Cambridge, Cribbs Causeway and Bluewater John Lewis stores will be refurbished and the company hopes to increase footfall in these locations by around 50 per cent. The retailer also plans to invest in its Peter Jones department [...]