Sales fall, but retailer’s shares up as back-to-school season approaches August 11, 2016 Kohl’s share price leapt 15 per cent in the US on Thursday morning after the department store retailer beat analyst expectations in its second quarter. The figures Sales in the three months to 30 July fell two per cent year-on-year to $4.2bn (£3.2bn). Net income for the period, meanwhile, came in at $140m, up eight [...]
The Jungle Book and Deadpool draw in moviegoers in first half for Cineworld August 11, 2016 Blockbusters including Deadpool and The Jungle Book drove a rise in revenues at Cineworld, while the chain has said it has a promising string of films on its side for the second half of the year. The figures Group revenue at the cinema chain rose 8.4 per cent to £356.7m in the six months to 30 [...]
Before the bell: What you need to know before the US market open August 11, 2016 Oil is falling and Australia's government is taking steps to stop Chinese firms from taking a controlling stake in its largest energy network: here's what you need to know before the market open at 2:30pm. US futures are pointing to a strong open. The S&P is up by 0.21 per cent, the Nasdaq is 0.24 per [...]
A Leonardo DiCaprio-backed startup is bringing mattress innovation to the UK August 11, 2016 Prepare for your sleep to be disrupted – but in a good way. A US startup with celebrity backing has launched in the UK and is hoping to shake up how Brits buy mattresses and the way we sleep. Casper, a two-year-old startup with multi-million dollar investment from Leonardo DiCaprio as well as venture capital [...]
Royal Mail’s pension scheme under pressure as costs set to double August 10, 2016 Royal Mail's pension scheme is facing closure after it warned trade unions and workers the plan will be "unaffordable" in as little as two years. Costs to maintain the fund are expected to balloon to over £900m by March of 2018, more than double the £400m currently. Royal Mail is now negotiating with trade unions over what [...]
Labour leadership contender Owen Smith wants an inquiry into working practices at Asos August 10, 2016 An urgent inquiry into working practices at online retailer Asos is necessary, Labour leadership contender Owen Smith has said. Smith today called for an inquiry to deal with employment practices at Asos, warning it is "the new Sports Direct". Writing to chair of the Business, Innovation and Skills Select Committee Ian Wright, Smith asked for consideration [...]
Before the bell: What you need to know before the US market open August 10, 2016 The UK economy is slowing down after its vote to quit the European Union and markets continue to knock on record highs. Here's what you need to know before the US market opens at 2:30pm London time. US markets are pointing up ahead of the open signalling the possibility of further all-time highs. The S&P is [...]
Watch is going on? Fossil shares jump despite rocky revenue performance August 9, 2016 US watchmaker and retailer Fossil’s share price jumped in after-hours trading despite the company reporting some rocky revenue figures. The figures Worldwide net sales during the three months to 2 July were down seven per cent to $54.6m (£42m). Fossil said the fall was driven by a “decline in the company’s multi-brand licenced watch portfolio [...]
New Look sales and revenue drop as gloomy market conditions weigh on the company August 9, 2016 New Look posted a disappointing set of results this morning, announcing a drop in sales and revenue. The figures New Look's UK like-for-like sales fell by seven per cent in the 13 weeks to June 25, and overall revenue fell by 4.2 per cent to £354.2m. Adjusted operating profit was also hit, down by 29 per cent to [...]
Boohoo’s share price reaches an all-time high after it upgrades forecast August 9, 2016 Online fashion retailer Boohoo's share price climbed 5.47 per cent in early morning trading, reaching an all-time high of 78.68p, after the company revised its expectations for the year upwards. The board announced its results for the current year will be "above expectations", with sales growth between 28 per cent and 33 per cent – up from an anticipated [...]