Adidas share price up as sales growth in third-quarter boosts revenue November 6, 2014 German sports conglomerate Adidas yesterday outperformed analysts’ expectations by posting a nine per cent constant currency sales growth in its third-quarter results. The company saw a 21 per cent sales increase in retail over the period and a six per cent boost in wholesale. Warburg Research analyst Jorg Philipp Frey said the company’s “third-quarter, top-line [...]
How John Lewis took over Christmas – and restored festive cheer to all Britons November 6, 2014 When I was young, Christmas was a magical time, filled with wonder and delight. But as I grew older, and Father Christmas was revealed for who he really was (thanks dad), the shine wore off. Sure, I still look forward to it, but the crass commercialisation has slowly chipped away at this special time, and [...]
Sports Direct converts its Debenhams stake to put option – and increases its exposure to 12.7 per cent November 6, 2014 Mike Ashley has done it again. He's converted his standard investment (or “investment” as we call it) in Debenhams into a put option, increasing his exposure to the department store along the way. The move, which is actually taking place through Ashley's retail giant Sports Direct, involves disposing of the 4.6 per cent stake taken [...]
John Lewis Christmas advert 2014: Why are John Lewis festive ads such a big thing? And can Monty the Penguin live up to expectations? November 6, 2014 It’s not Christmas without an emotional, heart-warming, sometimes tear-jerking, advert from John Lewis. The unveiling of each new ad has become the unofficial kick-off of the festive period- move over Coca-Cola Santa, this year there's Monty the Penguin. Last year’s, featuring an animated bear and a hare, was the most popular yet with more than 13m [...]
Morrisons share price rises, despite 6.3 per cent fall in sales as Ocado tie-in fails to deliver November 6, 2014 If Tesco can take any consolation from its nightmare few months, it only has to look at rival Morrisons to realise it’s not in its struggle against the might of the discounters alone. In its third quarter results statement, Morrisons shortened its underlying profit before tax expectations after it recorded a drop in sales [...]
Eurozone retail trade suffers sharp decline November 5, 2014 RETAIL sales across the 18 countries of the Eurozone sank 1.3 per cent in September, data showed yesterday, in another sign that slumping demand is hurting the European economy. Germany, usually the Eurozone’s economic engine, suffered the biggest drop, losing 3.2 per cent in one month, the EU’s official Eurostat agency said. It was followed [...]
Old Mutual share price hit by weak South African growth November 5, 2014 Asset manager Old Mutual yesterday said its third-quarter sales were down, as weak economic growth in South Africa and the falling rand started to bite. Sales volumes fell five per cent to £6.2bn, from £6.5bn in the same quarter of 2013. Emerging markets sales fell most sharply, down 13 per cent to £2.4bn, on poor [...]
M&S boss Marc Bolland puts the focus on womenswear and a five gold rings chocolate Christmas cake November 5, 2014 Everyone knows Marc Bolland is a bit of a charmer. The M&S chief has been under pressure all year with disappointing clothes sales and a finance chief who decided every little really did help and hopped over to Tesco. But yesterday, at the retailer’s half-year results event, the suave Dutchman came out fighting, with compliments. [...]
Is today a turning point for Marks & Spencer’s share price? November 5, 2014 Marks & Spencer's share price has soared 8.3 per cent this morning, suggesting that investors were pleasantly surprised by its better-than-expected results. Although it marked its 13th quarter of declines, the 3.4 per cent drop in clothing was lower than consensus. Analysts this morning are suggesting this could be, if not the beginning of [...]
After magnificent year Primark shakes off retail’s winter blues November 4, 2014 PRIMARK’S “magnificent” performance over the past year caught the imagination of investors yesterday as shares in owner Associated British Foods (ABF) jumped 4.2 per cent on news of the discount retailer’s trading. Only last week, Next warned that the impact of the unexpectedly warm autumn was set to hit most high street retailers. However, ABF [...]