After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
US retail sales predicted to have fallen – New York Report February 8, 2015 RETAIL sales figures for January are likely to be the highlight for the economic week in the US. Economists expect the sales to have dipped by around 0.5 per cent over January, following a fall of 0.9 per cent in December. A preliminary reading on US consumer sentiment from the University of Michigan is due [...]
Sofa giant DFS confirms £105m IPO on the London Stock Exchange February 6, 2015 DFS Furniture has confirmed plans for an international public offering (IPO) on the London Stock Exchange, through which it hopes to raise £105m to reduce debts and future financing costs. The furniture retailer, which is owned by private equity firm Advent International, says it has a quarter of the share of the UK's £3bn upholstered furniture [...]
Tesco probed over supplier mistreatment February 5, 2015 TESCO could be “named and shamed” if found guilty of breaching supplier rules, the grocery industry’s watchdog Christine Tacon said yesterday after launching her own investigation into Britain’s biggest supermarket chain. The retailer sent shockwaves through the industry in September when its new chief executive Dave Lewis revealed profits had been overstated by £263m following [...]
BT set for a year of scrutiny on £12.5bn EE deal February 5, 2015 BT has sealed its deal to buy mobile operator EE in a whopping £12.5bn transaction. The British telecoms giant said the deal will likely face a year of investigation by the UK’s merger and regulatory authorities completing sometime next year. The transaction will combine BT’s more than 10m retail customers and EE’s 24.5m mobile [...]
Fifty Shades of Grey: Surge in adventurous shoppers looking for sex toys, lingerie and bondage gear February 5, 2015 Retailers are preparing for a surge in sales of lingerie, sex toys and bondage gear as the saucy film Fifty Shades of Grey hits cinema screens. The hotly-anticipated film adaptation of the best-selling erotic book by E.L James, timed for release over the Valentine's Day weekend, is spurring retailers to stock up on titillating products [...]
Hargreaves feels the pain of funds industry sales dip February 4, 2015 WEAKER stock markets slowed Hargreaves Lansdown’s sales in the latter half of 2014, the company’s chief executive told City A.M. yesterday. Ian Gorham, who has been at the helm since 2010, said a slump in the FTSE between July and December had created a sluggish environment for retail funds sales across the industry. “It’s definitely [...]
Hugo Boss sales disappoint after weak demand February 4, 2015 German fashion retailer Hugo Boss has reported lower than expected earnings, blaming sluggish consumer demand and one-off costs related to a shake-up of its Middle Eastern distribution network. In an unscheduled trading statement released yesterday, the company said pre-tax earnings edged up by one per cent in 2014 to €437m (£327.5m), compared with analyst expectations [...]
Eurozone gets Christmas lift from fastest sales growth since 2007 February 4, 2015 CHRISTMAS shoppers defied the Eurozone’s problems at the end of last year, driving retail sales growth close to an eight-year high. The volume of retail sales in the currency bloc jumped by 2.8 per cent in December, compared to the same month a year earlier – the quickest year-on-year expansion since early 2007. Compared to November, [...]
Ralph Lauren share price tumbles as revenue forecast is slashed February 4, 2015 The figures Ralph Lauren’s share price opened 11 per cent lower on Wednesday after the company slashed its revenue outlook for the second consecutive quarter. Shares in the US retailer tumbled to a price of $150 per share after closing at $170 on Tuesday, with investors not encouraged by disappointing third quarter results. [...]
CD&R sells £370m stake in B&M discount chain February 3, 2015 THE NEW York-based private equity group CD&R last night launched a deal to sell up to 120m shares in B&M, the retail discount chain to raise around £370m. Sources suggested yesterday was the first time the group could dispose of shares since last year’s flotation. Shares in the group, which is run by the Arora [...]