After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Strong growth expected after buoyant retail sales in Germany March 31, 2015 GERMAN retail sales dropped in February but remain at high levels that are expected to lead to better growth this year. Retail sales fell by 0.5 per cent from January to February according to figures released yesterday by Destatis, Germany’s statistical office. However, sales were 3.6 per cent higher than a year before. Sales in [...]
Veronique Laury: DIY is not dead, says chief exec of Kingfisher March 31, 2015 The chief executive of Kingfisher denied yesterday that the younger generation had fallen out of love with DIY, even as the home improvement chain announced the closure of one in six stores across the UK. Veronique Laury, who took the helm at Kingfisher in January, said: “I am not one of those who thinks DIY [...]
Yoox ties up with Net-A-Porter in €2.8bn merger March 31, 2015 ITALIAN Fashion retailer Yoox announced it would be merging with designer clothing website Net-A-Porter yesterday, in an all-share deal set to create the world’s largest online luxury clothing outlet. The new entity, Yoox Net-A-Porter will have combined sales of €1.3bn (£942m), with Net-A-Porter owner Richemont having a 50 per cent stake in the new firm. [...]
Eurozone deflation: Consumer prices fell 0.1 per cent in March March 31, 2015 While inflation in the Eurozone fell for a fourth consecutive month in March the rate of decline slowed again, meaning it's even closer to returning to inflation. Consumer prices fell 0.1 per cent in March in line with analysts expectations, and up from -0.3 per cent last month, according to a flash estimate from Eurostat, [...]
Kingfisher share price rises on plans to close 60 B&Q stores in UK and Ireland March 31, 2015 Kingfisher's profits fell last year despite an increase in sales, but plans to close 60 B&Q stores have sent shares up. The figures The DIY retailer, which owns B&Q among others, experienced a 2.9 per cent increase in sales last year, but its pre-tax profits fell 7.5 per cent to £675m. The figures, for the [...]
US set to rebound after poor weather March 30, 2015 CONSUMER spending in the US barely rose in February as households opted to save the extra cash from cheaper petrol prices. The reluctance to spend took the US savings rate to 5.8 per cent, its highest level for two years. Personal incomes rose by 0.4 per cent in February compared to the previous month, according [...]
Marks & Spencer patches up sales at clothing arm March 29, 2015 Marks and Spencer is expected to report an improvement in sales at its general merchandise arm as the retailer recovers from its recent warehousing debacle and thanks to fewer clothes being left on the shelves. Citi, joint broker to M&S, expects the high street chain to report a 0.1 per cent decline in underlying sales [...]
Best of the Brokers for 30 March 2015 March 29, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CAMBIAN GROUP ANALYSTS at Numis have raised their target price for Cambian by three per cent to 380p per share and reiterated “buy” following the health service provider’s acquisition last week of By the Bridge, fostering business that cares for children with high [...]
Is UK online fashion retailer Net-a-Porter about to be bought by Amazon? March 27, 2015 Is Amazon planning to get into high-end fashion retailing? The US tech giant is reportedly in talks to acquire Net-a-Porter, the British online luxury fashion retailer. It would be a bold move for Amazon, which already has clothing categories on its site – although many of the listings tend to feature the word "polyester". According [...]
Robust retail sales quell low inflation fears March 26, 2015 THE UK retail industry grew rapidly in February, dispelling fears that low inflation would be harmful to the economy. Some economists are concerned that if prices are dropping, consumers may opt to delay purchases. However, retail sales were 5.7 per cent higher in February than in the same month last year, according to figures released [...]