What you need to know before the open April 3, 2014 Markets are set to open higher this morning as investors turn their eyes to the European Central Bank (ECB). Many are hoping that the ECB will take measures to tackle deflationary pressures in the Eurozone. Corporate data Vodafone has announced it will to open 150 new shops across the UK, creating 1,400 jobs. B&Q and [...]
Dunelm sales jump with rising superstores April 3, 2014 Homewares retailer Dunelm group has reported sales growth of 9.9 per cent for the third quarter of the financial year. Total sales value for the 13 week period to 29 March climbed to £195m. Like-for-like sales grew by five per cent. Dunelm has had four store openings over the period including two superstores. The company [...]
Expansion costs knock a fifth off profits at Asos April 2, 2014 ASOS boss Nick Robertson admitted yesterday that launching in China had been tougher than anticipated after start-up losses in the country and investment in expanding warehouses elsewhere dragged first half profits down by 22 per cent. The online fashion retailer made a pre-tax profit of £20.1m in the six months to 28 February compared with [...]
How we’re revitalising markets for economic growth April 2, 2014 MARKETS when they work well are incredibly powerful. When we drive around we don’t have to think about the supply chain needed to produce the 30,000 or so parts that go into a modern car. As we shop for groceries we don’t need to consider what it takes to assemble fresh food from dozens of [...]
What you need to know before the open April 2, 2014 European markets are set to open up this morning after positive data from the US. Corporate data House prices in March grew by 0.4 per cent, slower rate then previous months, according to the Nationwide building society. House prices are now 9.5 per cent higher than they were at the same point last year. Fashion [...]
Asos’ profit takes a hit as retailer announces £2.5bn sales goal April 2, 2014 Asos has announced a 22 per cent fall in profit before tax to £20.1m the six months to February, as heavy investment in customer proposition, infrastructure, personnel and capacity takes its toll. But expansion costs were expected by and for the fashion retailer, and Numis has described it as “loaded with investment for growth” this morning. [...]
Exova valuation could reach as high as £650m April 1, 2014 EXOVA, a laboratory-based testing company, has said its valuation might be as high as £650m, according to the advisers to its forthcoming London flotation. The indicative price range for the Edinburgh-based company, which works mainly for oil and gas, aerospace and other transport industries, is 210p to 260p. The management team is led by Ian [...]
TPG showering bathroom web store with cash April 1, 2014 A FAMILY owned bathroom fixture store based in Hull has won the backing of one of America’s biggest private equity investors. Victoria Plumb, an online store which sells products like showers and taps, is setting up a venture with TPG Capital, the buyout giant led by private equity veteran David Bonderman. The tie-up is thought [...]
How shareholders are keeping faith in Carpetright April 1, 2014 Poor old Carpetright was in a frayed state last week when a third profit warning by the group in six months sent shares down five per cent from 586p to 556.5p. The retailer, which is in the hands of its chairman and founder Lord Harris, after chief executive Darren Shapland quit last year, bemoaned that [...]
What the other papers say this morning – 01 April 2014 March 31, 2014 FINANCIAL TIMES US overseas cash pile rises to $947bn American companies have stockpiled nearly a trillion dollars of cash offshore to avoid paying higher tax bills at home, according to an analysis released yesterday. The growing overseas cash pile has also become the most visible sign of corporate America’s unwillingness to place bigger bets on [...]