…By Judah Olanisebee for TDPel Media.
Hugo Boss Sets Higher Sales Target for 2025
Hugo Boss, the fashion house listed in Frankfurt, has increased its sales target for 2025 to €5 billion (£4.3 billion), up from its previous target of €4 billion.
The company is on track to achieve its initial target this year and expects a profit of €600 million.
The boost in sales comes primarily from the menswear range, with expected sales of €3.5 billion.
Sales in Asia are set to more than double, reaching €1 billion.
Hugo Boss also plans to focus on denim and expand its womenswear lines to attract Generation Z customers.
CAB Payments Confirms London IPO Plans
Fintech firm CAB Payments has announced that it is moving forward with its plans for an initial public offering (IPO) on the London Stock Exchange.
The company, which processes international payments for businesses, expressed confidence in the UK as a hub for innovative and growing global businesses.
This announcement comes after industrial giant WE Soda recently cancelled its IPO due to “extreme investor caution in London.”
The news of CAB Payments’ IPO provides a boost to the London stock market.
Fullers Reports Jump in Sales as London Re-emerges
Fullers, the 178-year-old pub chain, has seen a 33% increase in revenues for the year ending April.
Sales in central London were particularly strong, rising over 40% as offices reopened, office parties resumed, and tourism increased.
The company’s boss, Simon Emeny, expressed optimism about the future, stating that London is now driving their growth.
The revival of the London economy, coupled with the positive impact of the Elizabeth line, has contributed to Fullers’ success.
Informa Raises Guidance as Trade Shows Rebound
Informa, a publishing and exhibitions business, has raised its guidance for the year to levels higher than pre-pandemic levels.
The company now expects revenue of around £3 billion and profit of around £770 million for the year.
This rebound is attributed to the return of trade shows as companies resume in-person events.
Informa’s CEO, Stephen A.
Carter, emphasized the company’s strong financial performance and increasing shareholder returns.
Legal & General Appoints Santander Executive as CEO
Legal & General, a major insurance and asset management company, has named António Simões as its new CEO.
Simões, currently the regional head of Santander’s European operations, will take up the position at the beginning of 2024.
He will succeed Sir Nigel Wilson, who has been in charge for over a decade.
Simões expressed pride in being appointed as Group CEO and highlighted Legal & General’s strong financial track record and commitment to social purpose.
City Pub Group’s Clive Watson Exercises Share Options
Clive Watson, founder of City Pub Group, has exercised share options worth £1 million under the company’s long-term incentive plan.
This brings his holding in the pub chain to just under 4%.
Watson expressed optimism about the company’s performance, noting strong sales and customer demand.
He highlighted the positive impact of the recent hot weather and expressed optimism for the remainder of 2023 and beyond.
European Central Bank Expected to Raise Rates
The European Central Bank (ECB) is anticipated to raise rates after the Federal Reserve’s decision to pause.
The ECB is expected to announce a quarter point increase in the deposit rate to 3.5%.
This move comes as inflation slows and jobs growth remains steady.
However, future rate hikes by the ECB are expected to be data-dependent.
Market attention is focused on the ECB’s messaging, with expectations of a hawkish tilt emphasizing underlying inflation and ongoing upside risks.
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