After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
French Connection shares left on the shelf after sales disappoint March 17, 2015 French Connection shares plunged by an unfashionable 10.66 per cent yesterday after the fashion chain posted worse-than-expected full-year sales and warned of challenging conditions on the high street. The retailer, which was founded in the early 1970s by Stephen Marks, has been trying to reverse its fortunes after years of weak sales and profit warnings. [...]
FTSE rises ahead of Osborne’s pre-poll Budget – London Report March 17, 2015 BRITAIN’S top share index edged higher yesterday to extend a recent rebound from last week’s lows, with gains coming in ahead of key policy announcements from the UK and the US. The FTSE 100 rose 0.5 per cent to 6,837.61 points, as shares of natural-resources producers ticked up and utilities pushed higher, led by a [...]
Sainsbury’s share price dips despite sales falling less than expected March 17, 2015 The figures Shares in Sainsbury's were trading down 1.1 per cent at 265 pence per share in late-afternoon trade today. They had initially opened more than two per cent higher this morning. The supermarket announced like-for-like retail sales including fuel fell 3.9 per cent in the 10 weeks to 14 March on price deflation and greater [...]
BHS confirms new chief executive is Darren Topp as the retailer makes transition to new owners March 17, 2015 BHS has confirmed Darren Topp as its interim chief executive, following the departure of long-standing head Richard Price. Topp has been at BHS for six years, and steps up from his current role as chief operating officer with immediate effect. The change at the top comes just days after the department store chain [...]
French Connection narrows losses as the turnaround nears completion March 17, 2015 French Connection has narrowed its full-year losses once again – but still failed to nudge into the black. The figures Group revenue fell 5.8 per cent to £178.5m for the year to January 31. However, French Connection shut nine underperforming (“non-contributing”) stores, brought more of its costs under control and made “some margin progression” [...]
Vaping bars replace travel agents as high street sees drastic revamp March 16, 2015 OUR online shopping habits – and the rise of e-smoking – are changing the face of the high street, a new study out yesterday revealed. In the past year, huge numbers of mobile phone shops, pawnbrokers and cheque-cashing businesses, clothes stores, travel agents and recruitment agencies have closed. In their place vaping bars, parcel packaging [...]
Rose offloads almost all his AO World stake March 16, 2015 WHITE goods retailer AO World yesterday announced that non-executive chairman Richard Rose had sold nearly all of his stake in the company for £10m. AO World, which floated on the London Stock Exchange a year ago, said Rose sold 1.3 per cent of its outstanding shares at a price of 180p. Its shares closed down 4.96 [...]
Blackstone pays out $1.3bn for Chicago’s iconic Willis Tower March 16, 2015 PRIVATE equity group Blackstone has announced that it will buy Chicago’s iconic Willis Tower for $1.3bn (£877m), the most ever paid for a US office building outside New York. The tower, at 1,450ft it is the 12th-tallest in the world, is a lucrative tourist attraction thanks to its Skydeck observation floor. Blackstone, normally known for [...]
Online retailers post sluggish February sales March 16, 2015 ONLINE retailers posted sluggish growth in February as the Christmas shopping spree continued to weigh on consumers, according to the latest monthly figures from industry analysts IMRG and Capgemini. Sales slumped by 12 per cent in February compared with the previous month, which in turn was down seven per cent on December, the IMRG Capgemini [...]
PureCircle sweetens sales as big brands adopt stevia products March 16, 2015 Sweetner producer PureCircle announced sales of $43.2m (£29.1m) for the six-month period to 31 December 2014. This represents a 24 per cent increase on the previous year’s $34.9m. The company, which uses the sugar substitute stevia, said revenue was driven higher by its incorporation into high-profile brands such as Pepsi and Coca-Cola. “Stevia is now [...]