Retailers report but all eyes on world economy September 9, 2012 THE GLOBAL economy will once again set the tone for the markets this week, with a crucial German ruling on the new bailout fund due on Wednesday and a potential move on QE3 by the US Federal Reserve on Thursday. Greek leaders will today meet with their creditors to outline further austerity measures. And UBS’s [...]
Euro 2012 and Jubilee joy for Wetherspoons July 11, 2012 BRITISH pub operator JD Wetherspoon said yesterday cost pressures from government legislation would weigh this year on what has so far been a solid performance boosted by major events. Wetherspoon, whose cut-price drinks and meal offers had made it one of the stronger performing pub chains through the economic downturn, said like-for-like sales, which strip [...]
JD Wetherspoon sales rise with Euros boost July 11, 2012 Pub operator JD Wetherspoon said cost pressures from government legislation would weigh this year on what has so far been a solid performance boosted by major events. Wetherspoon, whose cut-price drinks and meal offers had made it one of the stronger performing pub chains through the economic downturn, said like-for-like sales for the 11 weeks [...]
LONDON REPORT July 8, 2012 ALL eyes will be focused on the Treasury Select Committee hearing today, as deputy Bank of England governor Paul Tucker presents his side of the story in the Barclays/ Libor scandal. His appearance will be followed tomorrow by one from Marcus Agius, the former Barclays chairman. Today sees trading updates from housebuilder Bovis – expected [...]
Wetherspoon rallies against higher taxes May 2, 2012 PUBS OPERATOR JD Wetherspoon said yesterday “unsustainable” higher costs from a tough tax regime in Britain left it cautious on full-year prospects, even as it reported a rise in third-quarter sales. The company, which has over 800 pubs across Britain, said its tax bill in the current financial year would be about half a billion [...]
BEST of the BROKERS April 25, 2012 ARM HOLDINGS Investec maintains its “buy” rating on the microchip maker because of good long-term prospects. The target price is static at 800p, due to the last quarter’s “uneventful” results and no catalysts on the horizon. Costs were slightly higher than expected, and foreign exchange movements have prompted a modest forecast cut for the full [...]
BEST OF THE BROKERS March 19, 2012 JD WETHERSPOON JP Morgan Cazenove rates the pub chain “underweight” and has raised its target price from 381p to 390p. The broker has trimmed its like-for-like sales growth for 2012, from two per cent down to one per cent, following half-year results earlier this month that showed a sales dip. However, JP Morgan’s earnings per [...]
Marston’s up despite fears over Budget March 14, 2012 PUB operator Marston’s reported solid trading yesterday despite a tough period for the leisure sector and said it was looking ahead to a strong 2012. Like for like sales over the last 23 weeks were up 3.5 per cent on last year at the British brewer – which has 2,150 outlets across the country – [...]
BEST OF THE BROKERS March 11, 2012 JD WETHERSPOON N+1 Brewin has cut its rating of the pub chain from “hold” to “reduce” with a lowered target price of 375p, down from 443p, in reaction to what it calls “a mild profit warning” in the firm’s results on Friday. The broker has also pared back its forecasts for new openings of Wetherspoon [...]
Weatherspoon blames tax as expansion plans cut March 9, 2012 British pubs operator JD Wetherspoon said it would cut back expansion plans, blaming a harsh tax regime for exacerbating tough trading conditions, and was cautious about prospects for the second half following a decline in sales. The company, which has over 800 pubs across Britain, said it would scale back new openings to 40 pubs [...]