Shares fell 31pc to 391.6p on Friday morning, after the owner of the Superdry brand admitted to "arithmetic errors" in its forecasts amounting to £2.5m, and said that increased operating costs and a squeeze on margins would cost the business an extra £2m. "Retail sales are in line with expectations, however, the mix of sales through our various channels has impacted margins. "Additionally, we took the decision to increase our operating costs in order to ensure that we had the correct product at the right time in each of our retail channels, and also, to accelerate investment in our management team." Supergroup's rapid expansion saw its shares rise to dizzying heights of £18.20 last February, before a series of reverses on the back of disappointing ... Continue reading →
"Investors will have to wait until Thursday for a more concrete gauge of sentiment, when Spain sells longer-term bonds and France also conducts an auction ahead of the first round of its presidential election," said Chris Beauchamp, market analyst at IG Index. A retreat from Burberry and Marks & Spencer tempered the benchmark index's gains. Despite the fashion house posting an 18pc jump in second-half revenue, Burberry sank 5.5pc. Freddie George, analyst at Seymour Pierce, kept his "buy" rating, but said the stock "might bide time after its recent out-performance". A disappointing 0.7pc fall in fourth-quarter like-for-like sales at Marks & Spencer sent the high street stalwart down 2.9pc. Sales of general merchandise, including clothing, fell 2.8pc with M&S saying that it had been short ... Continue reading →
George Osborne I think would benefit from coming and spending time with us and spending time with our customers. 12.42 The pasty tax is a recipe for a growing divide between the working class and the Government, writes assistant comment editor Daniel Knowles. What's particularly striking about the Sun's coverage is that it is attacking the Government on open class terms. Osborne is a "public school-educated heir to a multi-million pound fortune". There is, they conclude, a growing "divide between working people and a rich elite" which David Cameron "ought to be anxious to close". It's not said explicitly, but I wonder how many people would consider an Old Etonian, married to the daughter of a Baronet, capable of closing it. Not many, I suspect. ... Continue reading →
Jim Yong Kim, the president of Dartmouth College and President Obama’s pick to head the World Bank, appeared in a student stage production in Dartmouth last year.President Obama’s pick to be the next leader of the World Bank, Jim Yong Kim, has a hidden talent: he raps.During a videotaped show last March, Dr. Kim, the president of Dartmouth College, appeared midway through a live stage rendition of “Time of My Life” with the Dartmouth Gospel Choir, which puts on an annual “American Idol”-style competition at the college, “Dartmouth Idol.”His hip-hop performance stands out among his other video clips online, mostly erudite speeches and sober interviews.Ivy Gate, a blog that follows events at Ivy League colleges like Dartmouth, commented at the time:We don’t know (and to ... Continue reading →
