Virgin ends strike threat

first_img Tags: NULL Wednesday 8 September 2010 7:49 pm whatsapp Show Comments ▼ KCS-content Share Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Virgin ends strike threat whatsapp VIRGIN Atlantic averted the threat of the first strike in its 26-year history yesterday, after it reached an agreement with pilot’s union Balpa over the time off its members take.Under the deal Virgin pilots remain entitled to “at least 120 days off” a year, equivalent to an office worker’s weekends and bank holidays. Virgin’s negotiating team was led by chief executive Steve Ridgway.Virgin, which is majority owned by billionaire Sir Richard Branson, said: “During the course of these discussions both parties have also identified some opportunities to modernise the relationship between Virgin Atlantic and Balpa in the future and we are looking forward to working on this together.” Balpa general secretary Jim McAuslan described the talks as “frank, to the point and creative.”Meanwhile, rival British Airways’ 19-month dispute with its Unite cabin crew over pay and conditions continues. Earlier this week Unite’s Heathrow branch membership called on its national union to launch a ballot for more strike action in the run up to Christmas. last_img read more

Kier forges ahead with healthy order book

first_imgThursday 16 September 2010 4:12 am Construction firm Kier said it had entered the new financial year with healthy order books after posting full-year pre-tax profit up 11 per cent.The firm said it had a strong order book for its construction and support services units at £4.2bn, and a record net cash position of £175.2m.It posted full-year pre-tax profit of £58.4m and revenue of £2.1bn. Analysts were expecting pre-tax profit of £55.5m and revenues of £2.1bn. “Market conditions in 2011 will remain challenging for all our businesses,” it said. “However, with our strong track record of delivery and our innovative financing and planning skills, we expect to continue to grow our UK market share, particularly in construction and support services.”The construction and support services sector was hit hard by the financial crisis and more cuts in contracts loom when the full extent of the Government’s belt-tightening becomes clear.Kier, however, said in July that it had seen a rebound in private sector work and would manage public spending cuts by investing in non-discretionary areas such as power and utilities.It posted full-year pre-tax profit of £58.4m and revenue of £2.1bn. Analysts were expecting pre-tax profit of £55.5m and revenues of £2.1bn. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Kier forges ahead with healthy order book whatsapp John Dunne center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Show Comments ▼ Share Tags: NULLlast_img read more

Austerity hits European consumer confidence

first_img Share CONSUMER confidence across the European Union (EU) fell in September to -11.8 points from -11.2 in August as concerns over Europe’s economic recovery returned. Across the 16-member euro area, which excludes the countries like the UK that have not joined the single currency, confidence was up fractionally to -11.2 from -11.4 in August. However, following two strong months in which confidence had appeared to be returning, the gauge missed analysts expectations of -10.July had seen a surge in both consumer confidence and economic sentiment across the EU. Since then the picture has become more mixed as global growth has cooled and governments across the EU step up spending cuts to rein in their budget deficits. Wednesday 22 September 2010 7:52 pm KCS-content Show Comments ▼ whatsappcenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com whatsapp Austerity hits European consumer confidence Tags: NULLlast_img read more

Regulators may block Rio venture

first_img whatsapp whatsapp Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap KCS-content RIO TINTO and BHP Billiton shares gained more than three per cent each yesterday after Rio insisted that its $116bn (£73bn) joint venture plans are not close to collapse. The FTSE 100 firm warned however that competition watchdogs may scupper more than a years’ worth of efforts for a joint iron ore production plant in Western Australia.The company said competition bodies had recently “indicate[d] potential obstacles to achieving clearance for the joint venture”. The watchdog in Australia has delayed its final ruling. A spokesperson for the European Commission, which must also approve the deal, said yesterday it expects to conclude its preliminary investigation soon. If the Commission finds that the venture poses a threat to competition, it can begin a lengthy full investigation and ultimately block the deal. Rio also mentioned the Japanese and Korean regulators in its statement late on Monday, but neither was available for comment yesterday. BHP Billiton’s spokesperson said the firm was not likely to follow suit with a statement to the stock market, but said: “The joint venture continues to be assessed by the regulators.”Numis Securities said in a note: “[T]he ongoing delays probably mean that if the regulators don’t kill the deal then Rio’s shareholders might.” Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timescenter_img Regulators may block Rio venture Wednesday 6 October 2010 7:52 pm Show Comments ▼ Tags: NULLlast_img read more

1,800 jobs go at Nokia amid phone delay

first_img Share Thursday 21 October 2010 8:38 pm The news came as Nokia reported a third-quarter net profit of £471m, reversing a £491m loss for the same period last year. Despite the improved results Nokia said its market share dropped to just 30 per cent, it sold 110.4m phones in the third quarter.Nokia shares rose to their highest level in 20 weeks on the news closing in Helsinki up 6.3 per cent. Tags: NULL Nokia benefited from the cheaper end of the mobile phone market but the average price for its phones rose to €65 — the first annual price rise in almost a decade ­– as new, cheap smart phones like the C5 and the E5 went on sale and parts shortages capped sales of the cheapest phones.“The main contribution here is really from component shortages and that hit us more in the lower end were Nokia is strong,” chief financial officer, Timo Ihamuotila, said.It said it expected part shortages to continue creating problems into 2011 and forecast operating profit margin to be 10-12 per cent in the fourth quarter.Nokia’s N8 model, its first serious rival to Apple’s iPhone, started shipping on the last day of September but sales are yet to start in many markets.Elop said he had decided to delay launching Nokia’s first product using the new MeeGo software platform, saying: “My assessment was that it would be a 2011 event.”Elop is the first non Scandinavian to run the company in its history and only assumed his role last month replacing Olli-Pekka Kallasvuo. NOKIA’s new chief executive Stephen Elop put his stamp on the company yesterday by cutting 1,800 jobs, equivalent to three per cent of the company’s workforce, and delaying the launch of a key product after the mobile phone manufacturer posted stronger -than-expected results.It is not known whether UK workers will be affected by the job losses as the company said it had yet to decide where the axe will fall. whatsapp KCS-content whatsapp 1,800 jobs go at Nokia amid phone delay Show Comments ▼ Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more

OECD cuts UK 2011 growth outlook

first_imgThursday 18 November 2010 5:29 am John Dunne whatsapp Share whatsapp Show Comments ▼center_img The OECD revised upwards its forecasts for growth in the British economy for 2010 but cut its outlook for 2011 following the announcement of deep spending cuts designed to tackle a record budget deficit.The Organisation for Economic Co-operation and Development (OECD) welcomed the coalition government’s “ambitious medium-term plan” to cut spending which it said had significantly reduced fiscal risks.As a result, it said it now expected real GDP growth of 1.8 per cent in 2010, compared with a forecast of 1.3 per cent made in May, slipping back to 1.7 per cent to 2011 compared with an earlier target of 2.5 percent.It forecast growth of two per cent for 2012.“GDP growth in the first three quarters of 2010 was robust, reflecting broad-based growth in domestic demand, including from a needed rebuilding of inventories,” the report said.“The pace is set to slow, however, as contributions from stockbuilding fade and fiscal consolidation creates increasing headwinds.”The government has announced plans to cut public service spending as part of an £81bn cost-cutting drive over the next four years aimed at tackling a record budget deficit running at about 11 per cent of national output.The Paris-based think-tank, funded by 30 countries including Britain, said growth would remain modest during 2011 as public consumption and public investment fall, while household consumption remains subdued due to slow real income growth and stagnant asset prices.It said further increases in exports, supported by rising global demand and a weak exchange rate, should underpin a somewhat stronger recovery in 2012. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org OECD cuts UK 2011 growth outlook Tags: NULLlast_img read more

Simon Property walks away from £3bn Capital takeover

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Simon Property walks away from £3bn Capital takeover Tags: NULL More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Show Comments ▼ Sharecenter_img whatsapp SIMON Property gave up on its £3bn takeover interest in Capital Shopping Centres yesterday, blaming its target for failing to open up its books for due diligence. American retail property giant Simon had until 5pm today to formalise its 425p a share bid thanks to a Takeover Panel deadline, but has decided to walk away after more than a month of pursuing the UK’s biggest mall owner. Shares in Capital fell 2.75 per cent to 381.7p yesterday, having lost four per cent on Monday as hopes of a firm bid from Simon faded. Simon reiterated its criticism of Capital’s £1.6bn purchase of the Trafford Centre in Manchester yesterday, claiming the deal hands 23 per cent of the company to Trafford seller Peel Holdings at an unfair discount. Capital has batted away Simon’s calls to end the deal, but modified the terms last week to woo investors. Capital shareholders including Simon, which holds a five per cent stake, will vote on whether to approve the Trafford Centre acquisition at a meeting on 26 January. Simon’s financial advisers Citi, Lazard and Evercore stand to lose up to £60m in fees. whatsapp Tuesday 11 January 2011 8:05 pm KCS-content last_img read more

Green & Black’s considers MBO

first_img KCS-content Share Organic chocolate maker Green & Black’s management is looking for ways to extricate the company from Kraft, according to reports. The firm’s management is said to be struggling to retain an entrepreneurial spirit now they are part of the food giant Kraft, which bought out Cadbury’s last year. The Financial Times reported Green & Black’s was considering either a management buy-out or a partial MBO. Last night a Kraft spokesman told City A.M. the firm would not comment on market rumours. Green & Black’s considers MBO More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com whatsappcenter_img whatsapp Sunday 16 January 2011 10:59 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Show Comments ▼ Tags: NULLlast_img read more

Home Depot income beats expectations

first_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Share Tuesday 22 February 2011 8:52 pmcenter_img whatsapp THE WORLD’S largest home-improvement retailer, Home Depot, has posted sales of $15.1bn (£9.3bn) in its fourth quarter results.Analysts had predicted lower revenues of $14.8bm.The US firm, which operates 2,248 retail stores worldwide, also updated its profit forecasts for this year on the back of the stronger than expected performance.It said it now anticipated a 2.5 per cent increase in sales for this year, with earnings per share increasing approximately 9.5 per cent to $2.20.Home Depot’s net income increased to $587m in the three months to 30 January this year, up from $301m a year earlier. Overall sales last year for the firm hit $68bn, an increase of 2.8 per cent on a year earlier. Earnings per diluted share were $2.01, compared to $1.55 per diluted share a year earlier.The company said it planned to open ten new stores this year and repurchase approximately $2.5bn of outstanding shares.Chairman and chief executive Frank Blake said: “We continued to invest in our business and made solid progress against our key initiatives.“We completed the roll out of our Rapid Deployment Centers, an important part of our distribution network; we saw year-over-year improvement in customer service ratings; and we continued progress on our merchandising transformation. Our actions, coupled with an improving economy, resulted in positive sales growth for the year, the first time since 2006.“Our associates did an outstanding job in 2010. Their hard work and dedication made these accomplishments possible.” Show Comments ▼ Home Depot income beats expectations Tags: NULLlast_img read more

Home Retail shares hit in profit alert

first_img whatsapp More From Our Partners Matt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com Home Retail shares hit in profit alert Show Comments ▼ whatsapp Tags: NULL Share HOME Retail Group, the owner of Argos and Homebase, issued a profit warning yesterday, saying worried shoppers were reining in their spending.The company said that it now expected pre-tax profit for the year to 26 February to be between £250m and £255m. In January it had forecast full-year year profit of about £263m, down from £293m in 2009-10. Chief executive Terry Duddy said: “There are clear signs of further pressures on consumer spending, with recent trading conditions, particularly at Argos, proving to be more difficult and volatile than we anticipated.” In the eight weeks to 2 February, sales at Argos stores open for a year or more dropped 4.6 per cent as consumers cut back on non-essential spending in the face of tax rises, inflation and job losses. This follows a fall of 4.9 per cent in the 18 weeks to 1 January. DIY and gardening chain Homebase performed better with like-for-like sales up 3.8 per cent in the eight weeks to 26 February. Shares in Home Retail, which last September lost its place in Britain’s FTSE 100, have lost nearly a quarter of their value over the last year. KCS-content Thursday 10 March 2011 7:30 pmlast_img read more