Tesco’s share price looks perky as company announces sale of Harris and Hoole coffee chain to Caffe Nero June 23, 2016 Supermarket chain Tesco is selling Harris and Hoole coffee chain to Caffe Nero, it said in its first quarter trading statement this morning. "Together, these sales allow us to place even greater focus on our core UK business," the company said. The retailer's share price was up by 2.82 per cent in early morning trading [...]
Shares in bookseller Barnes & Noble jump as it adapts to Amazon challenge June 22, 2016 Shares in Barnes & Noble jumped following the book giant's latest set of results which showed it's adapting to the challenge from Amazon. The group said it expects sales at its retail stores open at least a year to stay flat or rise by up to one percent this fiscal year, beating market expectations for an increase [...]
Britain’s bright Brexit future: A trader’s perspective June 22, 2016 I have been working in the City since I left school at the age of 15 in 1968, so I think it’s fair to say I know a bit about finance. As the founder and chief executive of CMC Markets, an online trading company with a market cap of approximately £800m which entered the FTSE [...]
Debenhams’ share price falters after retailer announces drop in sales June 22, 2016 Debenhams share price fell this morning as the struggling department store posted a drop in sales. The figures Like-for-like sales at the UK chain fell 0.2 per cent in the 15 weeks to 11 June. Discounting the effect of currency movements, this figure adjusted to a 1.6 per cent fall in sales. Online sales grew by seven [...]
H&M’s sales struggle as Swedish retailer is hit by stronger dollar June 22, 2016 H&M recorded its worst sales growth for three years as the fashion retailer was hit by the strength of the dollar. The figures The Swedish fast-fashion group posted pre-tax profits of SK7bn (£576.8m) in the three months to 31 March, a drop of 17 per cent compared to the same time last year. The company plans to [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Majestic Wine needs a lie-in and some paracetamol after hooking up with Naked Wines this year; but its share price looks healthy June 20, 2016 Majestic Wines announced a drop in pre-tax profits this morning, following its purchase of Naked Wines last April. Despite this, the wine merchant's share price climbed by 5.37 per cent in morning trading. The figures Majestic Retail posted a 41.3 per cent rise in sales for the year ending 28 March, up from £284.5m last year to [...]
Week ahead: Volatile markets are forecast ahead of the referendum June 20, 2016 Recent wild swings in the FTSE 100 are expected to continue until the European Union referendum on Thursday as polls show the electorate evenly split on the decision. At last week’s close, the FTSE rose from a four-month low, up 1.2 per cent, to 6,021.09 points. It was, however, down 1.5 per cent for the week, [...]
StreetDots rolls out 12 more London pitches for food vendors on back of three partnerships with British Land, Land Securities and TH Real Estate June 20, 2016 TECH start-up StreetDots today announced deals with three major land partners to expand its network of street-food “pitches” across London. In partnerships with British Land, Land Securities and TH Real Estate, the firm will open 12 more pitches across the capital. The pitches, in the form of large dots, play host to a rotating offer [...]
Majestic Wine raises glass to revenue boost after Naked Wines buy, but braces for store revamps and takeover costs to hit profits June 19, 2016 Majestic Wine, the favoured mass booze retailer of the middle classes, is expected to report a leap in sales tomorrow following its takeover of rival Naked Wines last year. Revenues at the firm are forecast to have risen 41 per cent in the year ending March 2016, from £285.4m to £403.2m, according to analysts at Investec. However, [...]