What you need to know before the open April 23, 2014 US markets saw another positive finish yesterday, with European counterparts expected higher today, looking to French and German manufacturing data. Economists will be looking to see if the turnaround seen in France in March continued, and Germany’s expected to see a slight improvement, too. China’s HSBC manufacturing purchasing managers’ index improved to 48.3 – encouraging, [...]
Sports Direct sales jump as board squares up to shareholders April 23, 2014 Sports Direct has reported a jump in sales of 10.3 per cent to £360m for the nine weeks ended 30 March. The sports retailer saw gross profit rise 11.5 per cent £147m. The company enjoyed strong increases from the brands division and sports retail sales. Premium Lifestyle sales also rose by 0.7 per cent to [...]
London Report: Osborne likely to have missed financial target April 21, 2014 UK PUBLIC borrowing figures this week are expected to show that the chancellor George Osborne narrowly missed his target for this year. And while future revisions may bring the figures back within Osborne’s target, the figures are likely to bring further scepticism about whether the UK can continue to meets its fiscal targets. “We expect [...]
London Report: China data and bullish retailers drive FTSE rally April 16, 2014 THE UK’S benchmark stock index rose yesterday after Chinese economic data came in a touch above forecasts, with Tesco rising on aggressive strategy plans and Sports Direct surging on a bullish note about the company. The sportswear retailer surged 5.6 per cent to the lead FTSE 100 gainers. Traders cited a note from Bank of [...]
Bottom Line: Retail can’t promise to learn from mistakes April 15, 2014 YESTERDAY was a glorious, sunny day in London – clear blue skies with a hint of the crisp spring weather that typifies a British April. Lunching City workers donned light coats and sunglasses, keen to soak up the rays. But forecasters are already warning that Easter weekend could be a washout – retailers who’ve stocked [...]
Investors cheer recovery plans for Debenhams April 15, 2014 DEBENHAMS’ shares climbed four per cent yesterday as investors welcomed plans to refocus its promotional strategy after a disastrous first half in which profits fell by almost a quarter. The department store group laid out plans yesterday to cut back on promotional activity, extend delivery times for online orders and partner with new brands to [...]
What the other papers say this morning – 15 April 2014 April 14, 2014 FINANCIAL TIMES Sports Direct to sell online using credit Sports Direct, the sportswear retailer controlled by Mike Ashley, is poised to begin selling on credit via its website, as it seeks to emulate the model successfully used by fashion chain Next. Dave Forsey, chief executive of Sports Direct, said the company would begin offering credit [...]
A Great British beast of a sports car April 14, 2014 It may not be in the same league as the P1 but the 650S is the best consolation prize anyone could hope for THE McLaren P1 hyper-hybrid might just be the greatest car in the world right now. But it costs nearly a million quid, only 375 are being made and I haven’t been allowed [...]
Inside Track: The new issues market drifts into ever choppier waters April 10, 2014 THIS was the week when a sudden reality check intervened in the new issues market. It came after a blissful start to the year that has seen share prices popping, books covered multiple times and investors cashing out most profitably. The big losers earlier this week were the technology stocks, with shares in AO World, [...]
Goldman left holding Sports Direct stock after Ashley’s sale April 9, 2014 GOLDMAN Sachs has failed to sell all the 24m shares in Mike Ashley’s Sports Direct it took onto its books on Monday afternoon. Market sources believe that Goldman Sachs might have a large portion of the £204m block unsold after a torrid time on Tuesday when Sports Direct shares fell sharply from 883.5p to 811p. [...]