Game Digital share price rises as consoles help video games retailer return to profit October 16, 2014 Game Digital, the high street video games retailer which went public in June, yesterday reported full-year profits compared with a loss last year in its maiden results yesterday, benefiting from strong demand for new Xbox One and Playstation 4 consoles. Profits jumped to £7.3m during the year to 26 July, up from a loss of [...]
Kingston’s Bentall Centre up for grabs with £200m-plus price tag October 16, 2014 Bentall shopping centre in Kingston upon Thames has been put up for sale after one of its owners appointed advisers to sell its 50 per cent stake, with a price-tag of around £200m. It is one of the busiest malls in Greater London, with 700,000 square feet of space and 14m visitors a year from [...]
WH Smith CEO Steve Clarke says stationery chain is ready for lift-off October 16, 2014 Steve Clarke has often described himself as a shy person, but with strong full-year results to shout about yesterday, the WH Smith boss came out of his shell. The cheery Irishman, who took over from his long-serving predecessor Kate Swann in July last year, put the retailer’s success – and his good mood – down [...]
European stocks drop as fears over global slowdown gather pace October 16, 2014 European markets are taking a beating with fears over the global recovery and impact of the Ebola crisis hitting investor confidence. The FTSE 100 dropped 1.6 per cent, with France's CAC taking an even bigger hit shedding almost two per cent. Germany's DAX has lost 1.3 per cent. Anxiety over the health of the Eurozone [...]
WH Smith announces trial for standalone greeting cards stores as profits climbs October 16, 2014 WH Smith has achieved a pre-tax profit of £112m for the year ended 31 August, up nine per cent from the previous year. The FTSE 250 company which boasts 1,300 stores nation-wide also saw a total ordinary dividend per share of 35p, a 14 per cent increase on the previous year. Stephen Clarke, group chief [...]
World markets gripped by panic as £46bn wiped off UK stocks in single day October 15, 2014 The fear stalking global markets escalated yesterday as traders fled risky assets for safe haven investments to weather the turmoil. With concerns over the strength of the global economy and an increasingly gloomy Eurozone, the UK’s blue chip equity market plunged to a 15-month low as the clock ticked over – wiping [...]
Aldermore IPO flops as market flattens but Virgin Money pushes ahead with flotation plans October 15, 2014 Aldermore's advisers approached investors with a cut-price offer in a last- ditch bid to save the challenger bank’s stock market float, but failed to pick up enough sales, City A.M. understands. The firm pulled its initial public offering (IPO) yesterday, blaming “the recent deterioration of global equity markets”. The bank approached the IPO [...]
Dow falls over 400 points as S&P 500 goes into negative terriatory for the year October 15, 2014 Drops in US stocks have sent the S&P 500 into negative territory for the year, while the Dow dived over 400 points. At the time of writing the Dow had recovered from its 15,855 low to 15,595, still 2.02 per cent lower than at the open. The S&P 500 was down 2.1 per cent at pixel [...]
Burberry sales jump despite tough market October 14, 2014 BURBERRY warned yesterday that conditions in some of its markets, including China, were getting tougher, despite a 14 per cent increase in first-half sales, sending shares down almost four per cent. The luxury group said total revenues reached £1.1bn in the six months to 30 September, thanks to strong performance across all regions. However, it [...]
Profit warning puts thorn in Mulberry October 14, 2014 MULBERRY shares were looking the worse for wear yesterday after the troubled luxury leather goods group issued yet another profit warning. The English luxury brand has been attempting to turn itself around following an ill-fated attempt to move the brand upmarket under previous chief executive Bruno Guillon. But in a statement yesterday, Mulberry warned that [...]