Analyst Views: What did you think of Ted Baker’s quarterly trading update? June 10, 2014 JOHN STEVENSON | PEEL HUNT Another strong performance from Ted Baker, delivering around nine to 10 per cent like-for-like sales growth against stunning prior year comparatives. We leave forecasts unchanged for now, but reiterate our “buy” stance, underpinned by attractive medium term international expansion plans. FREDDIE GEORGE | CANTOR FITZGERALD The trading update was better [...]
Retailers enjoy first quarter of growth in years June 10, 2014 HIGH street stores of all stripes have enjoyed rising sales in the past three months for the first time in four years, according to figures released today. BDO’s high street sales tracker shows like-for-like sales were up 1.1 per cent in May, marking the first full quarter since 2010 where fashion, lifestyle and homewares have [...]
City Moves for 11 June 2014 | Who’s switching jobs June 10, 2014 BNP Paribas Investment Partners Patrick Mange has joined BNP Paribas Investment Partners as an emerging markets strategist. Since 2009, Mange has been deputy chief executive at Shinan BNP Paribas. He previously worked at Merrill Lynch Capital Markets France, where he was a euro area strategist. Prior to that, he was a senior economist at Deutsche Bank in Frankfurt [...]
Ted Baker sees group revenues surge 18pc June 10, 2014 Ted Baker has reported a 17.9 per cent jump in group revenues in the 19 weeks to 7 June. Retail sales surged 15.8 per cent – comfortably above several analysts’ calls; Jefferies had expected a 15 per cent increase. During the period, the high-end clothes specialist opened new stores in Glasgow, Heathrow Terminal 2, several [...]
What the other papers say this morning – 10 June 2014 June 9, 2014 FINANCIAL TIMES Chico’s explores private equity sale Chico’s, the US womenswear chain, is exploring a sale to private equity and has discussed a deal with potential suitors that could lead to one of the largest take-private transactions so far this year. The final asking price could not be ascertained but one industry source said Chico’s [...]
Investors flood into TSB shares after low pricing June 9, 2014 Investors had placed orders for all of the TSB shares up for sale by yesterday evening, City A.M. understands. Yesterday morning the shares, amounting to 25 per cent of the new high street bank, were priced at between 220p and 290p each. The price would value the bank at between £1.1bn and £1.45bn, below the [...]
Sainsbury’s to expand clothing sales by trialling online launch June 9, 2014 Sainsbury is to take on its high street and supermarket rivals by selling its clothing brand Tu online for the first time. The retailer said yesterday that it will pilot selling clothing to around 200 “invited” customers in the Midlands in August, which if successful would then be rolled out nationwide. It comes after people [...]
B&M plumps for high float range June 9, 2014 Bargain retailer B&M has narrowed the price of its imminent share sale towards the top end of its original range, shrugging off turbulence in the new issues market in recent weeks. The firm is believed to have honed in on an initial share price of between 260p and 290p, compared to its earlier 230p-290p range.
Supermarket price wars trigger slowdown in retail sales in May June 9, 2014 PRICE cuts by Britain’s big four supermarkets hit retail sales in May despite clothing retailers reporting their strongest growth in more than two years. Figures from the British Retail Consortium (BRC) and KPMG this morning show that like-for-like UK retail sales were up 0.5 per cent in May compared with the same month last year, [...]
Sainsbury’s to trial selling clothing online June 9, 2014 Sainsbury is to take on its high street and supermarket rivals by selling its clothing brand TU online for the first time. People close to the company previously said that clothing margins were too low justify delivering clothes bought online to customers. However in a statement yesterday Sainsbury’s said it will pilot selling [...]