Asos shares soar 17 per cent as etailer gets back on track with sales up in the UK and overseas

first_img Asos shares soar 17 per cent as etailer gets back on track with sales up in the UK and overseas  Asos’s share price soared 17 per cent this morning as it appeared to be back on track, reporting quarterly growth of 19 per cent after a difficult period that included a profit warning.  The figuresThe etailer, which took a stumble a few months ago, appears to be back in its comfort zone.  Retail sales were up 19 per cent for the three months to February 28, with the UK – Asos’s most mature market – rocketing 30 per cent, while international sales were up 12 per cent.  International sales make up less of the total now than they did last year – 56 per cent of group sales came from outside the UK, compared with 60 per cent last year. Given the strength of the pound, that is not necessarily a bad thing.  However gross margins were down 320 basis points year-on-year.  For the first half, retail sales are up 14 per cent, with the UK powering growth once again, up 27 per cent compared with a five per cent increase on the international side.  Gross margins are down 270 basis points.  Why it’s interesting Having gone through the phase of being able to do no wrong, last year was something of an annus horribilis for Asos. After issuing a profit warning in the spring, it suffered a warehouse fire that hit sales in the summer and then continued to report poorer-than-expected results throughout 2014.  Profits were also affected by the strengthening pound against certain currencies, particularly a weak Australian dollar. This has been offset slightly by the introduction of “zonal” pricing.  So the fact it has reported better than expected results this morning will come as something of a relief to management, and of course shareholders.  In addition Asos is increasingly becoming something of a bellwether for British consumer sentiment, so an increase in UK sales will be welcomed by other retailers, both online and high street.  What Asos saidChief executive Nick Robertson noted the “strong growth” in the UK, and described Asos’s international sales as showing “encouraging momentum”. He added: “Our investments in our warehouse and IT platforms are on track. We expect profit before tax for the full year to be in line with market expectations.”  whatsapp Share Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyArticles SkillHe Left Wife For Her Sister, Then She Wins It AllArticles SkillMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesGundry MD Bio Complete 3 SupplementTop Surgeon: This Simple Trick Empties Your Bowels Every Morning (Almost Immediately)Gundry MD Bio Complete 3 SupplementComedyAbandoned Submarines Floating Around the WorldComedyGameday NewsNBA Wife Turns Heads Wherever She GoesGameday News Catherine Neilan Thursday 12 March 2015 6:04 am whatsapp Tags: Asoslast_img read more

Continue Reading

News / CMA CGM ‘outperforms the industry’ as Q2 profits hit $227m

first_imgCopyright: Port of LA CMA CGM posted a net profit of $227m for the second quarter of the year, turning around a loss of $127m in the same period of 2016, with the assistance of a “significant” contribution from subsidiary APL.The French carrier was the last of the liner majors that publish results to report its Q2 performance and it was the third full quarter to include figures from Singapore-based APL.Total revenue was up 56.8% to $5.55bn, volumes increased 33.3% to 4.73m teu and reduced the number of ships its operates by 13.2%, from 532 in H1 16 to 462. Overall capacity, however, was maintained at 2.4m teu.Consolidated average revenue per teu improved by 12.5%, year on year, although this was well below the 22% reported by market leader Maersk Line.CMA CGM’s strong second-quarter result was achieved despite a 60% hike in bunker costs and included a “significant” $89.2m contribution from APL.For the six-month period, CMA CGM recorded a net profit of $320m, versus a loss of $217m showing at the halfway point of 2016. APL contributing $116m to the 2017 result. In 2016 overall, the carrier suffered a $452m loss, which included a $127m loss on APL operations.CMA CGM’s core EBIT margin in Q2 17 saw a sharp 11.2 point rise to 8.9%, which was ahead of rival Maersk Line’s 6.2%.Group chief executive Rodolphe Saade said: “The group releases excellent results for the quarter, with a core EBIT margin sharply rising thanks to our strategy of profitable growth. Once again, CMA CGM outperforms the industry and demonstrates the excellence of its operational management as well as the relevance of its strategy.”CMA CGM said that “excluding a significant change in fuel prices and exchange rates” and “given the recent trend in freight rates” that it expected to “continue to improve its operating results” in the second half of the year.The positive result confirms a massive turnaround in the fortunes of container lines, which have recorded their most profitable quarter in two years, according to Drewry. The consultant estimates that the industry will achieve a full-year positive result of some $5bn, after being in the red by a similar amount in 2016.CMA CGM also took the opportunity to confirm its order for nine 22,000 teu ultra-large container vessels (ULCVs), of which three are under options, which are stemmed to come into service from the end of 2019.The carrier said they were required “to keep pace with market growth and the group’s needs”.The ULCVs, which by current standards will be the biggest containerships afloat, are to be constructed at Chinese yards which outbid South Korean rivals with a reported cost per unit of $160m.The order for six ships and three options represents a significant strategy change by CMA CGM. In March it said it dd not “anticipate any new ship orders on a short-term basis in order to maintain the still delicate balance between supply and demand”. By Mike Wackett 18/09/2017last_img read more

Continue Reading

Supply chain radar: Here’s what Ceva’s new China-Europe trucking service means for freight routes

first_imgThe road Western Europe-Western China, Kazakhstan, © Vladimir Fomin Forgotten your password? Please click here LOGIN Email* By Thomas Cullen 04/10/2019 Subscription required for Premium stories In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium Please Login Ceva’s opening of a road freight service between China and Europe may have gained little attention – but it may well augur a transformation in the market for inter-continental freight transport.  In November 2018 Ceva started to offer its clients a road freight service between the dry port at Khorgos, on the border of China and Kazakstan, and Poland. The route taken was through Kazakhstan, Russia, Belarus and onto Poland.   The service started as a full truck load, but Ceva planned to introduce … Please either REGISTER or login below to continuecenter_img Reset Email* Premium subscriber LOGIN Reset Your Password Password* New Premium subscriber REGISTER << Go backlast_img read more

Continue Reading

Calgary pair charged in connection with alleged pump and dump scheme

IE Staff Related news Don’t believe the hype: BCSC proposes new rules for stock promoters ASC staff charged Coastal Pacific Mining’s president and CEO Joseph Gaetano Bucci, and Caroline Meyers (a.k.a. Caroline Winsor, a.k.a. Caroline Danforth), the principal of Calgary-based International Securities Group Inc. with trading without registration or a prospectus and making prohibited transactions. Staff allege that both Bucci and Meyers collaborated in setting up Coastal Pacific Mining Corp. as a “pump and dump” shell company over a number of years, finally implementing the market manipulation that occurred in late 2010. A pump and dump scheme involves individuals who promote or “pump” the purchase of a specific company’s stock to drive up the value of the stock. The individuals then sell or “dump” their shares at the increased price and stop promoting the stock, which causes the stock value to plummet, leaving investors with worthless shares. None of the charges has been proven in court. The first appearance in this matter has been set for March 8 in Calgary. Keywords Investment scamsCompanies Alberta Securities Commission Share this article and your comments with peers on social media FCA tackles flurry of investment scams Facebook LinkedIn Twitter Alberta Securities Commission (ASC) staff have laid 16 charges against two Calgary-area residents in connection with a suspected 2010 market manipulation (pump and dump) of Calgary-based Coastal Pacific Mining Corp. securities. Coastal Pacific Mining trades on Over-The-Counter quotation systems in the United States. SEC warns about rise in investment scams read more

Continue Reading

No sanctions for 43 of 45 Home Capital brokers and agents, FSCO says

first_img Facebook LinkedIn Twitter Companies Financial Services Commission of Ontario, Home Capital Group Inc. Alexandra PosadzkiDavid Hodges Share this article and your comments with peers on social mediacenter_img The Financial Services Commission of Ontario (FSCO) says it will not be disciplining 43 of the 45 mortgage brokers and agents that mortgage lender Home Capital cut ties with over allegations they falsified loan applications. FSCO said last week it had disciplined a mortgage broker and an agent after finding them to be non-compliant with the province’s Brokerages, Lenders and Administrators Act. On Thursday, the commission said it concluded its review into all 45 individuals and has not taken any action against 43 of them. It said last Friday that its superintendent of financial services concluded that agent Zaheer Mohammad gave false income and employment information to a lender in the course of brokering mortgages on six separate occasions. He was fined $43,853.64 and had his licence revoked in May of last year. The commission also said broker Gagandeep Duggal was fined $5,000 last November for providing false or deceptive information when dealing with mortgages. The sanctions show that the province’s regulatory system is protecting the public interest, Ontario Finance Minister Charles Sousa said. “These issues have been identified and they’re being addressed,” Sousa said Thursday. Read: CMHC beefing up ability to detect mortgage fraud, CEO says The health of Canada’s mortgage market has been hotly debated in recent weeks. Concerns about the real estate sector intensified after the Ontario Securities Commission (OSC) announced in April it was conducting a separate investigation into Home Capital Group Inc., alleging it misled investors in their handling falsified loan applications. Home Capital has said the OSC’s allegations are without merit and it will defend itself. Since the accusations surfaced, Home Capital has been struggling to stay afloat as customers quickly pulled deposits. It has since secured a $2-billion lifeline from the Healthcare of Ontario Pension Plan.last_img read more

Continue Reading

Lord Bishop Decries High Murder Rate

first_imgRelatedLord Bishop Decries High Murder Rate Advertisements RelatedLord Bishop Decries High Murder Rate RelatedLord Bishop Decries High Murder Ratecenter_img FacebookTwitterWhatsAppEmail Reverend Dr. Alfred Reid, Lord Bishop for the Anglican Church in Jamaica and the Cayman Islands, has decried the country’s high homicide rate as “unnatural” and a “presumptuous defiance of God, the giver of life”.“What is happening now may well be defined as most foul, because it has a peculiar demonic quality of violence, malevolence, heartlessness, capriciousness and terror. It may also be considered strange and unnatural because it is directed against our own brothers and sisters, against innocent children, including infants, who normal people would want to love and protect, and against vulnerable old people, who would be regarded as special treasures in any civilized society. It is strange and unnatural because it brands us as zombies without natural affection or human feeling,” he stated.The Lord Bishop was delivering the sermon at the opening service of the 136th annual synod of the Anglican Church in Jamaica and the Cayman Islands yesterday (April 18) at the St. James Parish Church in St. James.He noted that Jamaica was defined by an entrenched “hostility between races, classes and cultures” and he warned against double standards in the society, where “some people are having the best of times, while others are condemned to the worst of times”.“Either we are one people, or we are no people,” he emphasized, adding that the church was no exception to that rule.Rev. Reid said that the church should take some amount of responsibility in helping the nation through a process of reconciliation.“As servants of unity, we must help our people reconnect. We cannot overcome violence unless we build respect and trust between those who feel threatened,” he pointed out.Rev. Reid further called for the dismantling of all garrison communities throughout the country, whether they were political, social or economic.Among those who attended the synod were: Governor-General, His Excellency the Most Hon. Professor Kenneth Hall and Her Excellency Rheima Hall; Prime Minister, Portia Simpson-Miller; Minister of Industry, Commerce, Science and Technology, Phillip Paulwell; Minister of Labour and Social Security, Derrick Kellier and Clarence Nelson and Owen Sinclair, Custodes of St. James and Westmoreland, respectively. Lord Bishop Decries High Murder Rate UncategorizedApril 19, 2006last_img read more

Continue Reading

Nambour Showground lifts its accessibility for community

first_imgNambour Showground lifts its accessibility for community Sunshine Coast CouncilIt’s show time! When an estimated 25,000 show-goers return to the Nambour Showgrounds 11-13 June, they will also find it more accessible.Federal Member for Fairfax Ted O’Brien announced $100,000 of Federal funding last year alongside Sunshine Coast Council contributing $50,000 for the installation of a new passenger lift in the Main Pavilion.“We can’t have people with disabilities or seniors using wheelers missing out,” Mr O’Brien said.“Now even more people, including those with mobility issues, will be able to enjoy this wonderful spectacle.”Divisional Councillor David Law said he was pleased to see access improvements to the Nambour Showground’s Main Pavilion.“This lift would not have been made possible without the Australian Government’s Regional Agricultural Show Development Grants Program in partnership with Sunshine Coast Council’s Showgrounds Development Levy contributing $50,000,” Cr Law said.“With the installation of this new lift, the Main Pavilion is now accessible upstairs for people who have mobility issues and cannot use stairs, and for young families with prams.“The lift improves access for existing key stakeholders such as the Sunshine Coast Agricultural Show Society, Queensland Garden Expo, Collectorama, the annual Swap Meet, the Darts Club and community members who will benefit.“It also improves building accessibility when the Nambour Showgrounds is activated as an evacuation centre.”Last year’s Nambour Show event was cancelled because of the COVID-19 pandemic, but the Federal Government stepped in with funding to help Agricultural Shows and Field Days survive the crisis.“These Shows are a part of our Australian heritage that must be protected,” Mr O’Brien said.“Who can ever forget their first trip to the Show? Seeing the animals, the thrill of the rides, and going home clutching a fist-full of showbags!The Sunshine Coast Agricultural Society received almost $70,000 in Federal funds to help it survive last year’s cancellation and the resulting loss of revenue.Society President Rowan O’Hara says his organisation is grateful for the Government’s support.“We can’t wait to see the crowds of the people coming through the gates and the happy smiles on the kids’ faces once again. That’s what Shows are all about ,” Mr O’Hara said.“This lift has been on our wish-list for more than a decade, so it’s great to see it finally installed.“It will benefit all members of the community who in the past haven’t been able to reach the top of the stand because there were only stairs.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Accessibility, Australia, Australian, Australian Government, community, evacuation, Federal, federal government, Government, grants program, mobility, Nambour, pandemic, President, QLD, Queensland, Sunshine Coastlast_img read more

Continue Reading

Make connections at the Mountain Sports Networking Expo

first_img Published: Oct. 4, 2017 Imagine a job where the mountains are your home office. A job that lets you design, sell, promote or even teach your favorite mountain sport to people who love the great outdoors.Living in Colorado, we experience first-hand what the outdoor industry has to offer. But did you know that it’s filled with job and internship positions in science, math, sales, marketing and art? Or requires various skills, backgrounds, degrees and ambitions? If you goWho: Students, alumniWhat: Mountain Sports Networking ExpoWhen: Tuesday, Oct. 10, 5–7 p.m.Where: University Memorial Center, room 235Come explore opportunities in the outdoor industry at the Mountain Sports Networking Expo on Tuesday, Oct. 10. Companies such as Vail and Winter Park resorts will be on campus to connect with students in an informal networking-style environment.Did Vail pique your interest? See the Q&A at the end of this article for advice and insight on the company.Reasons to attendIf you’re a freshman or sophomoreExplore different career opportunities in the outdoor industry.Ask questions about the right educational path to reach your career goals.Gain experience speaking with employers about internship opportunities.If you’re a junior or seniorSpeak with employers in a casual environment without the pressure of expecting employment.Make connections and build relationships with potential employers.Ask questions about the recruiting and hiring process, what employers look for in a resume and how to land a job in the industry.CU Boulder students and alumni from all majors, experience levels and backgrounds are welcome to attend this free event. No pre-registration is necessary.Q&A with Vail ResortsWhat are the top three things students should know about working in the outdoor/tourism industry? It offers an amazing growth curve and developmental opportunities from a business management and acumen standpoint.Independence and confidence are crucial. Jobs in our industry don’t come with a boss next door, so being a proactive problem solver and taking ownership in a situation is necessary.It is more challenging than one might think. High expectations of guest service are very prevalent. It is all worth it in the end for the amazing lifestyle one can have in our industry!Why should students consider a career in the outdoor industry?Why not? Whether you’re giving ski lessons and in boots 170 days a season, or driving a desk in Human Resources in Vail, being able to share the love for an amazing place, sport or adventure and in turn inspire that passion in others is rewarding on a daily basis.What impresses you the most when you are considering to hire a student for a job or internship?The ability of a candidate to speak with passion (and clarity) about an endeavor they’ve engaged in and demonstrating that they’ve gone above and beyond in work/school/community because then we’ll know you can provide the Experience of a Lifetime to our guests. How does Vail Resorts define their culture and work environment?Brave! Ambitious! Passionate! This is how we describe our employees. It takes a lot of courage to choose a mountain lifestyle. All of our jobs are demanding, and, to be excellent, we have to be ambitious in our work effort to achieve and exceed our goals. We align who we are with what we do, therefore our passion for our product (guest service, in addition to skiing, of course) shows through in everything we do! What advice would you go back and give yourself as a college student preparing for your career?Work on communication skills! Written and verbal (especially listening!) communication skills are crucial to success in any career. Categories:Career DevelopmentCampus Communitycenter_img Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more

Continue Reading

Stop by the academic technology showcase March 13

first_imgCategories:GeneralEvents & Exhibits Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail If you goWho: FacultyWhat: Academic Technology Design Team ShowcaseWhen: Tuesday, March 13, 8–10 a.m.Where: Fleming Building, Idea ForgeRegister Now Have a teaching and learning idea that’s been percolating? Looking for ways to get your ideas jump-started?On Tuesday, March 13, drop by the Academic Technology Design Team Showcase in the Idea Forge to learn how they can help you, and enjoy some breakfast treats while you’re there! See examples of their course redesign and technology pilot projects, student engagement data and support services.An RSVP is appreciated, but drop-ins are welcome, too! And if there’s something specific you’re interested in discussing with the team, leave a note when you register. Published: March 7, 2018 last_img read more

Continue Reading

LG claims record smartphone sales

first_img LG Electronics announced a “record-breaking” quarter for smartphone shipments, with sales and operating income at their highest levels since the third quarter of 2009.The company shipped 16.8 million smartphones in the three months ended September, an increase of 39 per cent year-on-year, and up 16 per cent over the prior sequential quarter.Operating income in the mobile communications unit was KRW167.4 billion ($160 million), compared with a prior-year loss of KRW79.7 billion, on revenue of KRW4.247 trillion, up 39 per cent.LG’s results have been something of a mixed bag in recent years: it has now recorded two consecutive quarters of positive operating income from mobile, after three quarters of losses.But it managed to end its last full year (2013) in the black, due to a strong start to the year.Third-quarter sales of LTE devices more than doubled over the previous year, which was attributed to the global launch of the vendor’s flagship G3 smartphone.The launch of G3 and stronger demand for the mid-tier L series devices also drove growth in North America.Contrastingly, LG saw a decrease in shipments to South Korea (down 22 per cent compared with the prior sequential quarter) due to weaker demand in its home market.The company said that looking forward, it expects to strengthen its global position through its G series and L series models, “despite the landscape becoming more competitive”.It intends to “maximise sales in the premium segment especially for G3 and strengthen the mass-tier line-up with G3 variation modes and L-Series III”.On a group level, the company reported a net profit of KRW202.6 billion, up 87 per cent year-on-year, on revenue of KRW14.92 trillion, up 7.4 per cent.While mobile was highlighted as the star performer, the company also improved profitability in its home entertainment unit despite lower revenue, which was attributed to a better product mix. HomeDevicesNews LG claims record smartphone sales Devices KT makes LG Electronics trade-in move Related Tags Steve Costello Authorcenter_img LG plays to next-gen features in latest flagship LG Qualcomm strikes LG patent deal following spat Previous ArticleLenovo lets slip details of fitness wearableNext ArticleHuawei’s Honor makes European debut AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 29 OCT 2014 Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more last_img read more

Continue Reading