Essex Furniture shares slump after profits warning
Article Abstract:
Essex Furniture issued a profits warning for the opening half of 1998 compared with the year earlier as a result of growth in advertising costs coupled with waning margins. The UK-based retailer's warning of interim losses of GB 3.7mn and an additional loss for the whole of 1998 is viewed as a sign that demand for so-called higher ticket consumer products is declining. Fellow furnishing sector retailers, including Allied Carpets, MFI and DFS Furniture, have suffered a slowdown in sales and have given warnings over profits.
Comment:
Warning of additional loss for 1998 is viewed as sign that demand for so-called higher ticket consumer products is declining
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Morgan Stanley to enter savings market
Article Abstract:
The UK market for retail investment products is soon to see a new competitor, in the shape of the major US investment bank Morgan Stanley Dean Witter. The company already manages funds in the UK on an institutional basis and it will sell its retail investments via IFAs and insurance brokers. In the past the bank has had a good investment performance record, according to Standard & Poors and it manages GB 200bn worth of assets.
Comment:
Will soon enter the UK market for retail investment products
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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A movie buff with a modem
Article Abstract:
Internet Movie Database (IMDb) founder Colin Needham feels that his company is a model virtual company, with all company business being transacted via electronic mail. He highlights the fact that IMDb's database, which contains 2.25 million filmography entries, is even used by industry insiders. However, he remains quite cautious about financial matters, and the site still has fewer than 50 employees.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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