Tag Archives: View

Next sales on target as online business outperforms

Total sales at the clothes retailer between 1 August and 24 December rose 3.1% compared with a year earlier, ignoring the effect of rising VAT.Next Directory sales grew 16.9%.
But its High Street business, which sees some two-thirds of sales, recorded a 2.7% fall, sending Next’s share price 4.3% lower in early London trading.Next has seen its share price rise 39% over the past 12 months, easily outperforming a 5% fall in the broader FTSE 100 index.Shares in some other big retailers also fell in the wake of Next’s announcement, which was the first trading update of the year from a major High Street chain.

Home Retail Group – owner of Homebase and Argos – dropped 4.7%, while car accessories chain Halfords was down 3%.
Profit margins
Next reconfirmed its full-year profits forecast at £565m, narrowing the range to plus-or-minus £7m.
The total sales growth figure of 3.1% was in the middle of its previous guidance of 2.5% to 4%, despite the “slightly disappointing” numbers from its 500 stores.

Next expressed uncertainty in its statement as to why the High Street performance had been so weak, particularly considering that last year’s sales had been hurt by cold weather.One possibility cited in its statement was its long-standing policy of not cutting the price of its products in the run-up to Christmas.

“Next’s own admission of disappointment is a setback to its hitherto robust growth story,” said Richard Hunter, head of equities at brokerage Hargreaves Lansdown.

“The fact that the company did not discount its products in the approach to Christmas may have been a factor, whilst the more general consumer malaise has yet to be corroborated by updates from its rivals.

“In addition, higher sales do not necessarily translate to higher profits, so the fact that the company has been able to maintain operating margins may yet play into its hands.”

Richard Perks, analyst at research firm Mintel, confirmed this view.

“These figures from Next are really pretty good I think,” he told the BBC.

“OK, Next may be – in sales terms – held back by the fact that it wasn’t discounting, but in profit terms it will be a lot better off.”

Mr Perks said he was optimistic about retail sales across the UK – predicting a 4% rise in December.

“People are reluctant to cut back any more on retail, and are cutting back elsewhere, particularly on leisure,” although he added that the rising cost of food was still crimping spending.

Next said it was cautiously optimistic about its end of season sales – which began after the end of its latest reporting period – and expected results to be slightly ahead of budget.

The retailer said it expected sales this year to be helped by a probable freeze in the price of its products.

It forecast generating £200m surplus cash in the year ahead, which it said it would return to shareholders via share buybacks.

Business, this, next, news, page, this page, sales, share, more, stories, share this, online, online business, next sales, target, sales target, target online, outperforms, business outperforms, news business, related, links, story, click, watch, story related, related stories, 16406765, about, this story, able, more this, business 16406765, 2012, with, from, browser, navigation, here, click here, find, here find, find more, other, london, profits, will, sites, your, shared, cycle, read, video, shares, internet, publish, rate, bank, mississippi, terror, style, sheets, style sheets, will able, high, british, content, street, high street, stores, price, http, accessibility, been, facebook, twitter, that, year, full, back, malaysia, swing, panel, help, retailers, december, while, said, view, 2011, retailer, media, growth, terms, src=, last, alt=, skip, association, association with, with click, email, print, which, iowa, close, clothes, clothes retailer, fall, share price, http news, sustain, sales sustain, sustain next, height=, width=, local, entertainment, advertisement, 

Japan developing cyber weapon: report

TOKYO: Japan has been developing a virus that could track down the source of a cyber attack and neutralise its programme, the daily Yomiuri Shimbun reported Sunday.

The weapon is the culmination of a 179 million yen ($2.3 million) three-year project entrusted by the government to technology maker Fujitsu Ltd to develop a virus and equipment to monitor and analyse attacks, the daily said.

The United States and China are reported to have put so-called cyber weapons into practical use, Yomiuri said.
Japan will have to make legal amendments to use a cyber weapon as it could violate the country’s law against the manufacture of a computer virus, the daily said.
In November a computer system run by about 200 Japanese local governments was struck.
In October, Japan’s parliament came under cyber attack, apparently from the same emails linked to a China-based server that have already hit several lawmakers’ computers.

It was also reported that Japanese computers at embassies and consulates in nine countries were infected with viruses in the summer.

Currently, the virus is being tested in a “closed environment” to examine its applicable patterns. (AFP)

 watch, japan, cyber, weapon, developing, cyber weapon, report, japan developing, developing cyber, weapon report, technology japan, news, please, thenews, send, your, facebook, virus, that, attack, provide, please provide, daily, paper, city, today, back, karachi, twitter, gallery, technology, more, country, email, comments, international, news international, pakistan, could, cyber attack, yomiuri, 2012, archive, print, issues, back issues, opinion, rahman, sports, blog, feedback, nato, crisis, like, tweet, reported, said, china, have, your comments, comments please, provide your, name, tokyo, tokyo japan, been, japan been, been developing, developing virus, virus that, that could, track, could track, down, track down, source, down source, source cyber, neutralise, attack neutralise, programme, neutralise programme, programme daily, daily yomiuri, shimbun, yomiuri shimbun, updated, writers, writers archive, edition, print edition, lahore, karachi lahore, islamabad, mobile, youtube, chairman, home, home news, world, world sports, business, sports business, video, video gallery, photo, photo gallery, memogate, nato attack, here, this, like this, content, this content, content facebook, send facebook, twitter tweet, button, tweet button, google, send google, plusone, google plusone, view, view more, services, more services, million, daily said, united, will, against, computer, about, japanese, from, computers, forum, data, select, select country, australia, guinea, india, israel, south, lanka, code, problem, click, watch nato, energy, energy crisis, today watch, rallies, watch rallies, banned, rallies banned, banned karachi, zones, karachi zones, zones watch, talks, talks watch, contact