FTSE 100 falls after interest rates are left on hold – London Report November 6, 2015 The Bank of England’s (BoE) decision to keep interest rates at record lows for the 80th month wasn’t able to prevent the FTSE closing down last night, finishing with a loss of 0.8 per cent at 6,364.9 points. The FTSE had been trading in negative territory throughout the morning ahead the BoE’s announcement but rallied [...]
Handbag designer Kate Spade fashions a net profit of $2.3m for third quarter of 2015 November 5, 2015 Kate Spade & Company revealed today that it had fashioned a net profit of $2.3m (£1.5m) for its third quarter of 2015, up from a net loss of $9.1m for the same period last year. The company, best known for its quirky range of women’s accessories, also announced a rise in net sales to $277m from [...]
High street retailer confidence rises ahead of Christmas November 5, 2015 High street retailers are feeling more confident about Christmas this year, with the majority predicting a rise in revenues according to research from Barclays, despite warnings from retailers including SuperGroup and Marks & Spencer of challenges ahead. Barclays said 79 per cent of retailers surveyed expect revenues to increase over the Christmas period compared to [...]
Cain Hoy partners with China’s largest property company Vanke for £750m Shoreditch project November 5, 2015 China's largest property company has made its first foray into the European market after partnering on the £750m redevelopment of a Shoreditch site where Shakespeare’s Curtain Theatre once stood. Vanke has taken a 21 per cent stake in The Stage, joining a consortium of investors headed by US private equity firm Cain Hoy and joint venture partners MG Partners, Galliard Homes and Investec Property Finance. The [...]
Tech stocks: How does the all-time high of Facebook’s share price compare with Amazon, Twitter, Apple, Microsoft and Yahoo? November 5, 2015 Facebook's value has topped $300bn with shares hitting an all-time high following stellar third quarter results yesterday. The social network posted quarterly earning after the bell on Wednesday, showing sales soared by over 40 per cent and mobile growth boomed in the third quarter. “We had a good quarter and got a lot done,” chief exec Mark [...]
SuperGroup sales up 22.4 per cent – but chief executive Euan Sutherland warns over Christmas November 5, 2015 SuperDry parent company SuperGroup has reported a strong first half, but warned that Christmas could be a challenge with strong comparatives to beat. The figures The business has performed well in the first half to 24 October, with sales up 22.4 per cent across the group. The retail division drove much of the growth, up 30.9 per [...]
Morrisons third quarter results: Sales fall again but chief executive David Potts remains upbeat November 5, 2015 Sales continue to fall at troubled supermarket Morrisons – but the new team headed by David Potts are putting a brave face on the turnaround process. The figures In the 13 weeks to 1 November, total sales excluding fuel were down two per cent, while like-for-like sales dropped 2.6 per cent. The supermarket, which is at the beginning of [...]
Marks & Spencer dividend can’t hide fashion disaster as Next and Primark steal market share November 5, 2015 It's that time of year again. The nights are drawing in, the heating’s turned up, minor celebrities are switching on high street Christmas lights… and Marks & Spencer has revealed another disappointing half-year performance. Admittedly, shares rose yesterday – up 2.8 per cent – but this was more due to a modest improvement to margins and a [...]
Happy hour for Fever-Tree as tonic maker hikes full-year guidance November 4, 2015 Fever-Tree shares have rallied more than 13 per cent after the posh tonic water manufacturer raised its full-year guidance on the back of strong sales. The UK-based brand, which floated on Aim last year, said it anticipates results for the full-year to be “materially ahead” of expectations following “encouraging” sales both at home and overseas. [...]
Groupon’s share price is in freefall after posting disappointing results November 4, 2015 Groupon's share price has tumbled over 30 per cent as markets in America opened today, after having posted disappointing results yesterday. The online retailers share price was 30.65 per cent down as markets opened, at $2.80. Yesterday the company revelled its results for the third quarter of 2015, showing that revenues had dropped slightly to $713.6m (£462.9m), [...]