Sector movers: Home Retail drags retailers into the red
9th Jun 2011 16:06
Unsurprsingly, the retailing sector is the worst performing sector on Thursday, after Home Retail Group took a dive. Home Retail has taken a plunge after revealing an 8.1% fall in sales at its catalogue-based retailer Argos in the 13 weeks to 28 May. "Trading conditions, particularly at Argos, have
Read moreFTSE 250 movers: Retailers take a hit as Home Retail dives
9th Jun 2011 15:58
Home Retail has taken a plunge after revealing an 8.1% fall in sales at its catalogue-based retailer Argos in the 13 weeks to 28 May. "Trading conditions, particularly at Argos, have proved to be more difficult and volatile than anticipated," chief executive Terry Duddy said. Retailing peers Dixon
Read moreLondon midday: FTSE 100 unchanged despite retail slump
9th Jun 2011 12:14
Retailers are heavily under the cosh today after a raft of gloomy updates, but the top share index is little changed as investors await US jobs data due later in the afternoon. Ongoing difficulties at the catalogue-based retailer Argos continue to plague its owner Home Retail Group, which has annou
Read moreLondon open: Retailers slide as sales decline
9th Jun 2011 08:21
Retailers are posting hefty losses after a raft of updates but a rally in mining stocks is helping to cushion the blow. In the FTSE 100, Marks & Spencer and B&Q owner Kingfisher are among the heaviest fallers, while South American copper miner Antofagasta rallies after declining on the back of the
Read moreLondon pre-open: Stocks to slip after retail updates
9th Jun 2011 07:44
Stocks are expected to fall back slightly as investors digest a raft of cautious-to-gloomy updates from the retail sector. Continuing difficulties at the catalogue-based retailer Argos continue to plague its owner Home Retail Group, which has announced an 8.1% fall in sales at the chain to £817m in
Read moreJD Sports cautious as sales decline
9th Jun 2011 07:21
Continuing pressures on the UK consumer have contributed to an acceleration in the decline in sales at Trendy sportswear retailer JD Sports Fashion. Like-for-like sales in the period between the end of January and 4 June fell by 2.8% from the same period the previous year. That compares with a 1.2
Read moreFTSE 250 movers: JD tops the risers
31st May 2011 15:15
Retailers JD Sports Fashion and Supergroup are also in demand. Tate & Lyle, the food ingredients group, has been given a lift by UBS after the broker raised its target price for the stock by 8%, from 550p to 595p. Stockbroker and investment manager Brewin Dolphin is edging higher after announcing
Read moreBroker tips: Thomas Cook, Experian, JD Sports
16th May 2011 11:35
Nomura has downgraded its forecasts for tour operator Thomas Cook as continued tension in the Middle East and North Africa (MENA) region and tough trading in the UK will likely affect earnings for the full year. While the group reported a first half operating loss of £166m broadly in line with Nom
Read moreBroker snap: JD Sports 'relatively undervalued'
16th May 2011 11:34
FinnCap raises its target price for retailer JD Sports Fashion saying that the group is "relatively undervalued" after a tough year for the industry: "we derive a level of reassurance from the company's recognition of the situation," the broker said. 2011 results were better-than-expected, with pre
Read moreFTSE 250 movers: Profit warnings batter Pace's share price
10th May 2011 15:29
The share price of set-top box maker Pace has taken a battering since the company announced its first quarter results on Tuesday morning, in which it lowered its guidance for the full year. The group said costs have been increased by the need to build up inventory levels ahead of schedule to ensur
Read moreFTSE 250 movers: CSR rises after questioning merger
9th May 2011 13:33
Bluetooth chip specialist CSR is the best performer on the FTSE 250 after it questioned the recent results of US merger partner Zoran. The US peer said it is forecasting second quarter sales of $80-85m, down from a previous prediction of between $95-97m, after a disappointing first quarter. CSR said
Read moreThursday tips round-up: JD Sports, Smiths News, Burberry
14th Apr 2011 06:31
Peter Cowgill, chief executive of branded sports wear company JD Sports, warned that his customers are beginning to suffer from public spending cuts, wage freezes and high inflation. But one can never have enough white trainers and low-slung tracksuit bottoms. Hold, says the Telegraph. Smiths News
Read moreLondon close: Retailers lift Footsie higher
13th Apr 2011 16:08
While the Footsie came off its daily highs, it still managed to post a gain of close to 1% as strong results from ASOS boosted the retail sector higher. Meanwhile, stocks were recovering from the 89 point sell-off yesterday, its worst one-day fall since mid-March. Strong growth overseas helped the
Read moreBroker snap: Cautious 2012 at JD Sports
13th Apr 2011 14:07
Singer Capital Markets said that sports retailer JD Sports Fashion reported a good set of full year results Wednesday, but downgrades are likely for 2012. Pre-tax profit for the year to 29 January rose 21% to £81.6m, ahead of the broker's forecast of £79m. However, "despite this solid performance,
Read moreFTSE 250 movers: Atkins' diet of Middle East orders
13th Apr 2011 12:08
Design and engineering consultancy WS Atkins said it expects full year results to be ahead of market expectations after a strong performance at its Middle East business. The group, which is the official engineering design services provider for the London 2012 Games, said overall it had traded well t
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