Mulberry says more affordable prices are driving sales up despite decline in profits
11th Jun 2015 08:28
The luxury retailer Mulberry saw its full-year profits decline but remained confident with its pricing strategy, which is beginning to "bear fruit". Revenues fell 9% to £148.7m and pre-tax profits plunged 87% to £1.9m, hurt by small growth in retail sales which was offset by a 28% decline in wholesa
Read moreLondon midday: Stocks advance as M&A speculation boosts Burberry and IHG
9th Apr 2015 11:39
UK stocks advanced on Thursday despite some mixed economic data, as ongoing M&A speculation and easing concerns about Greece drove markets higher. London's FTSE 100 was up 0.76% at 6,989.91 by noon despite weakness in the heavyweight mining sector, as bid hopes boosted stocks such as Burberry and In
Read moreLondon open: Miners fall, but UK markets track US and Hong Kong stocks higher
9th Apr 2015 08:57
UK stocks advanced on Thursday morning following a decent performance on Wall Street and Hong Kong indices overnight. Reports that Greece will meet Thursday's deadline to pay back a €450m loan payment to the International Monetary Fund were also helping sentiment. "The payment has been scheduled and
Read moreMulberry says cost controls will help turnaround full year earnings
9th Apr 2015 07:49
British luxury retailer Mulberry said its cost control measures should help it report better than forecast earnings for the full year. The company, known for its popular 'Alexa' handbags, last October warned on profits, leading it to implement a series of cost control measures. That seems to be pay
Read moreMulberry appoints new CEO one year after Guilon's departure
12th Mar 2015 14:40
The luxury retailer Mulberry appointed Thierry Andretta as the new chief executive one year after the former boss left the group following a profit warning. Andretta is currently a non-executive director and will start his new role next month. He had previously worked for brands like Moschino, Gucc
Read moreSunday newspaper round-up: Balfour Beatty, Canary Wharf, Vodafone
30th Nov 2014 15:25
Balfour Beatty could be broken up as John Laing Infrastructure Fund considers a billion-pound bid for the company's investment arm, the Sunday Times reported. John Laing is interested in bidding for Balfour's 60 private finance initiative (PFI) contracts. It would leave Balfour with a business worth
Read moreSector movers: Global luxury stocks gain as Japan postpones sales-tax hike
18th Nov 2014 14:21
Burberry was leading the personal goods sector higher in London on Tuesday as investors in global luxury stocks welcomed the news that Japan is delaying a planned sales tax hike. Data on Monday revealed that Japan fell back into a technical recession in the third quarter, mainly as a result of an in
Read moreJimmy Choo IPO could be pulled, says CMC's Hewson
15th Oct 2014 11:08
Analysts at CMC Markets have suggested the £1.1bn initial public offer (IPO) of fashionable shoemaker Jimmy Choo could be shelved, after challenger bank Aldermore pulled its Friday flotation. CMC Markets' Michael Hewson said that, given the "raspberry" blown in the direction of fashion peers Burberr
Read moreLondon midday: Weak economic data and earnings sink stocks
14th Oct 2014 12:10
A wave of disappointing corporate updates and worse-than-expected data from the Eurozone pushed UK stocks firmly into the red on Tuesday, as concerns about the global economy continued to weigh on sentiment. The FTSE 100 was down 0.7% at 6,322 by midday, as gains in the mining sector were offset by
Read moreTuesday broker round-up UPDATE
14th Oct 2014 09:17
Anglo Pacific: FinnCap upgrades to buy with a target price of 158p. Peel Hunt shifts target price from 196p to 198p retaining its buy recommendation. Ashmore: Canaccord Genuity upgrades from sell to hold with a target price of 300p. Numis cuts target price from 369p to 355p retaining an add rating.
Read moreMulberry delivers profit warning after 'particularly difficult' first half
14th Oct 2014 09:06
Luxury handbag maker Mulberry said the first half of the year has been tougher than anticipated as it delivered a big profit warning to investors. The company said despite sales trends having improved as the first half progressed, revenues for the six months to 30 September were down 17% on last yea
Read moreLondon open: UK stocks slip on weak earnings, Burberry drops
14th Oct 2014 09:05
UK stocks declined on Tuesday as gains in the mining sector were offset by disappointing updates from the likes of Burberry, Hargreaves Lansdown, SABMiller, Michael Page International and Mulberry. The FTSE 100 was trading 0.4% lower at 6,344 in early trading as the index continues to rumble along a
Read moreTate & Lyle chairman tops up stake with another 10,000 shares
31st Jul 2014 16:38
The chairman of FTSE 250-listed Tate & Lyle, Peter Gershon, added £63,800-worth of shares in the sugar and sweeteners group. Gershon, who is also the chairman of National Grid, paid 638p for each of the 10,000 shares, taking his holding to 92,080 shares. The purchase comes about a week after the
Read moreMulberry FY sales and profits fall as it launches recovery drive
12th Jun 2014 07:54
Upmarket handbag and fashion retailer Mulberry reported lower annual sales but said it was taking steps to revive the business. Mulberry, which is lacking a Chief Executive following the departure earlier this year of Bruno Guillon, said like-for-like sales fell 3% in the year to March 31st while t
Read moreTuesday broker round-up UPDATE
22nd Apr 2014 07:39
ARM Holdings: Goldman Sachs cuts target price from 1500p to 1450p and keeps a buy recommendation. Ashtead Group: Investec increases target price from 800p to 1100p and keeps a buy recommendation. Babcock International: Investec cuts target price from 1385p to 1377p, while upgrading to buy. Beazle
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