Morrisons’ share price opens 4.2 per cent up, despite plummeting pre-tax profits September 11, 2014 Shares in Morrisons opened 4.25 per cent higher this morning, even though results published today showed pre-tax profit plummeted by just under a third for the six months ended 3 August, as the company struggles to rise above a slowdown in the grocery market. The struggling supermarket's half-year results revealed a pre-tax profit of £239m [...]
Ocado share price jumps 8.5 per cent as Morrisons tie-up pushes sales up September 11, 2014 Ocado shares opened 8.5 per cent higher this morning after it reported a 22.5 per cent rise in gross sales for the 12 weeks to 10 August 2014. The online grocer enjoyed £231.9m worth of group sales, compared to £189.2m during the same period last year. Average orders per week rose 17.4 per cent from [...]
Sports Direct on a roll despite England failure September 10, 2014 SPORTS retailer Sports Direct yesterday reported rising sales and profit for the last three months, despite a soft patch during England’s poor World Cup run. The company, founded by Newcastle United owner Mike Ashley, said group sales rose 12.2 per cent for the 13 week period ending 27 July, to £711.2m, while gross profit increased [...]
Greene King sees a slow start to the year as World Cup hits sales September 10, 2014 British pub and breweries group Greene King announced yesterday that it expected sales in its core managed division to improve over the remainder of the year, after a disappointing 0.4 per cent growth in the first quarter due to the impact of England’s disappointing World Cup performance. The group also said that despite the UK’s [...]
Sweet teeth help Krispy Kreme post 22pc rise in quarterly profits September 10, 2014 DOUGHNUT retailer Krispy Kreme yesterday reported that its quarterly earnings rose 22 per cent as it posted stronger revenue, driven by sales at locations open more than 18 months. For the period ending 3 August, Krispy Kreme reported a profit of $5.8m (£3.6m), up from $4.7m a year earlier. Chief executive Tony Thompson said: “A key [...]
Sports Direct scores profit rise but Mike Ashley’s company hurt by England’s poor World Cup September 10, 2014 Sports Direct enjoyed an 11.8 per cent rise in profit for the period ending 27 July 2014 , yet the sportswear retailer was hurt by England's early World Cup exit. The company founded by Newcastle United chairman Mike Ashley reported a 12.2 per cent increase in sales from £631m to £711.2m, while gross profit also [...]
Analysts to the fore in big sectorial shakeups September 9, 2014 ANALYST of the year The role of the analyst has become increasingly important at such an uncertain time in the economy, when everyone is looking for guidance. With the UK retail sector in turmoil over the decline of Sainsbury’s, Morrison’s, Waitrose and especially Tesco – caused mainly by the rise of the German discounters – their views [...]
iPhone 6, iPhone 6 Plus, Apple Watch, Apple Pay: What the analysts say September 9, 2014 They’re finally here. The iPhone 6, 6 Plus and Apple Watch have been unveiled, now here’s what the analysts are saying about these shiny new devices. It's clear that the smartwatch and mobile payment service have caught their attention, with the potential to expand Apple's business more than just another iPhone. CCS Insight's Geoff Blaber [...]
Apple Watch and iPhone 6 launch: Share price, spec, features, UK release date and what the analysts say September 9, 2014 Apple has launched two new iPhones, the iPhone 6 and iPhone 6 Plus, and the Apple Watch smartwatch at a much-hyped launch event in California. Chief executive Tim Cook introduced the iPhones in a short speech calling them Apple's best ever iPhones. The iPhone 6 is 4.7 inches and the iPhone 6 Plus is 5.5 inches [...]
Why Richard Branson isn’t afraid to fail: Four Virgin businesses that didn’t work out September 9, 2014 It was only a year ago that Richard Branson was prancing around in a red kilt at the launch of Little Red, his domestic airline for the UK, which was designed to provide competition after British Airways owner International Airline Group acquired BMI. Since its launch, though, Little Red has been dogged by rumours [...]