ENTREPRENEUR OF THE YEAR August 5, 2012 We start the week with the latest nominees for the third annual City A.M. awards – our shortlist for Entreprenur of the Year. Some of the world’s great companies were founded in tough economic times, and we are undoubtedly living through dark days now. It takes a clear head to lead a company when all [...]
ANALYST VIEWS | WHAT HAS SPARKED MARKS & SPENCER’S POOR TRADING PERFORMANCE? July 10, 2012 BETHANY HOCKING INVESTEC The ongoing outperformance of food is making M&S a structurally lower gross margin business, with food gross margin around 20 basis points lower than of clothing. Clothing still accounts for roughly half of profits, however, so issues there are in need of a solution and the management changes are thus positive, but [...]
ASOS bucks the retail gloom as revenue jumps July 10, 2012 SHARES IN ASOS rallied more than 10 per cent yesterday after the fast-growing online fashion retailer outshone its bricks-and-mortar peers and posted a 31 per cent rise in first-quarter sales. The internet shopping site targeted at fashionable 20-somethings said trading was buoyed by a strong performance in the United States and Australia as well as [...]
Web treats prove to be a real bargain July 10, 2012 SHOPPING is all about justification. “I need that extra jumper because…”. And when it comes to justifying our purchases, we turn to one of two options. “Because I’m worth it” or “because it’s cheap”. Buying decisions, beyond bare essentials, are about treats and bargains. That’s true even in cash-strapped times like the present. Earlier this [...]
M&S sales fall flat as it fails to carve a fashion identity July 10, 2012 THE RETAILER famous for £10 meals and the Per Una brand has stumbled. In this age of austerity, it may come as little surprise that a firm like M&S is falling short. But in reporting its weakest quarterly figures for seven years, its challenges run far deeper. Although M&S’s food sales grew by 2.9 per [...]
FTSE steadies after Alcoa results July 10, 2012 The FTSE 100 was flat today with aluminium giant Alcoa reporting positive results to start the US earnings season which helped steady investors’ nerves. Alcoa saw its quarterly revenue and profit beat Wall Street’s expectations even though prices for its aluminium are at nearly two-year lows. Meanwhile Eurozone finance ministers have agreed to lend Spain [...]
Asos first quarter sales rise by 31 per cent July 10, 2012 Online fashion retailer ASOS posted a 31 per cent rise in first-quarter retail sales, buoyed by a strong performance in the United States and Australia and an improving UK. The retailer, which targets young women wanting to emulate the designer outfits of celebrities, said on Tuesday retail sales rose to 137 million pounds in the [...]
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 [...]
Accessorise your summer look with some choice pieces June 6, 2012 WOMEN Eeugenia Kim Abby belt-trimmed straw sunhat, £230, netaporter.com Gleaming gold, this straw hat is just the right amount distressed, making for a beach-ready but oh-so-chic summer look. Top Shop Geo Triangle Collar, £15, topshop.com Elegant and easy, this collar necklace looks too classy to be cheap and cheerful, despite the price tag. The triangles [...]
BEST of the BROKERS June 5, 2012 JOHNSON MATTHEY Deutsche Bank rates the chemicals group “buy” with a target price of £24.50. The broker expects good second-half results when the firm reports tomorrow, with a 14 per cent rise in pre-tax profit driven by higher demand for automotive products and precious metals. NEXT Nomura rates the high street retailer “buy” and has [...]