Comment: Sales sizzle in sweltering summer
21st Jul 2009 15:59
Conventional wisdom has it that hot weather is bad news for clothing shops but fashion retailer Next begged to differ on Tuesday when it said sales of summer clothing have benefited from much better weather than last year. The clothing chain said warm temperatures have improved sales at its High S
Read moreLondon afternoon: Advance gathers speed
21st Jul 2009 14:11
London kicked on over the lunchtime session, with risers outnumbering fallers by four to one among FTSE 100 constituents. Wm Morrison leads the way after saying it is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implement
Read moreBroker tips: Morrisons, Next, Fuller's
21st Jul 2009 12:59
Supermarket chain Wm. Morrison has sent members of the investment analyst community scurrying to upgrade their full-year profit forecasts after releasing an upbeat trading statement. Merrill Lynch is a buyer of the shares and is predicting pre-tax profit of £750m for the year to 31 January, 2010. P
Read moreBroker snap: Singer prefers Next to M&S
21st Jul 2009 12:41
Fashion retailer Next rushed out its interim management statement Tuesday morning to spread the good news about better than expected trading. "The warmer weather drove sales of summer clothing, and management estimate that the weather boost was between 2% and 3%. Management were also much happier w
Read moreLondon midday: Morrisons leads advance
21st Jul 2009 11:57
Retail stocks dominate proceedings in London following trading updates from Morrisons and Next. Wm Morrison leads the risers in the FTSE 100 after saying it is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implementation o
Read moreFTSE 100 movers: Wm Morrison wows brokers
21st Jul 2009 11:50
Supermarket Wm Morrison is making all of the running today after a bullish trading update. Full year results are expected to beat previous forecasts due to continuing customer growth and cost cutting measures. Morrisons, benefitting from its fresh food "Market Street" ranges and its focus on price
Read moreSector movers: Mixed day for retailers
21st Jul 2009 10:44
On a mixed day for retailers, Wm Morrison lifts supermarket groups higher, but Next is proving a drag on general retailers. Wm Morrison climbs nearly 10% after it said full year results are expected to beat previous forecasts due to continuing customer growth and cost cutting measures. Peers Sain
Read moreLondon open: Gains continue for Footsie
21st Jul 2009 08:42
London's blue chips have started another day in positive territory with Footsie more than 15 points higher. The blue chip index has now risen by about 7% in the past few days. Supermarket chain Wm Morrison is confident full year results will be ahead of its earlier expectations due to continuing cu
Read moreLondon pre-open: Shares set to rise
21st Jul 2009 07:31
London's blue chips look set to start another day in positive territory with traders expecting Footsie to open 11 points higher. Supermarket chain Wm.Morrison is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implementation
Read moreNext raises profit forecast by £30m
21st Jul 2009 07:10
Better than expected trading inspired by the hot weather in June has prompted Next to increase its profit estimate for this year by £30m and bring forward its latest trading update by a week. "As a result of better full price Next Retail sales and improved clearance rates we have added a further £1
Read moreBroker tips: Domino's Pizza, SThree, Next
20th Jul 2009 12:53
Domino's Pizza may have seen sales growth slow and reduced the number of new store openings, but Charles Stanley thinks the pizza delivery group is still in strong shape after this morning's trading update. The broker, which keeps its 'buy' rating and 305p price target on Domino's, says: "Earnings
Read moreBroker snap: Nomura sees improvement for Next
20th Jul 2009 12:51
Broker Nomura lifts its target price on Next as it thinks fashion retailer will benefit from recent sunny weather and an improvement in consumer sentiment. Next's current guidance is that second quarter sales will fall by 4% to 7%, but Nomura thinks they will be down by just 3%. "While medium-term
Read moreLondon close: Stocks pull out of tailspin
14th Jul 2009 17:09
Indecision on Wall Street prompted a spell of profit taking in the UK in the middle of the afternoon session which threatened to wipe out the morning's gains, but London's blue-chips rallied at the death to keep the Footsie in the blue. Mining stocks were the best performers with silver miner Fresn
Read moreLondon afternoon: Footsie climbs despite weak retailers
14th Jul 2009 14:10
London's leading shares continue to edge higher, with sentiment given a boost in the afternoon by expectations of a moderately firm start on Wall Street and a strong set of second quarter results from US bank Goldman Sachs, which announced record revenues. Mobile phone giant Vodafone, the third lar
Read moreBroker tips: Vodafone, Glaxo, Next
14th Jul 2009 12:23
Vodafone is losing share in three of its four main European markets according to UBS, which has downgraded its rating of the mobile phone giant. The Swiss bank believes the stock is a short-term sell and has switched its medium-term recommendation to "neutral" from "buy" while cutting its price tar
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