Sainsbury’s beats expectations as King prepares to hang up hat May 7, 2014 In what are Sainsbury’s last results under chief executive (CEO) Justin King, the supermarket’s reported improving profits, despite what it calls a tough background. Underlying profit before tax exceeded expectations, up 5.3 per cent to £798m last year. That's its slowest growth in almost 10 years, but analysts had been expecting a much smaller rise [...]
Sainsbury’s sales boost retailer to a larger share of the market August 28, 2013 SAINSBURY’S has successfully raised its share of the market through 2013, with sales growing as other retailers slip behind. In the 12 weeks to 18 August, Sainsbury’s saw a 49 per cent hike in sales, when compared to the same period last year, rising from £3.86bn to £4.05bn. According to the figures, collected from 30,000 [...]
King of the supermarket: The long-serving boss of Sainsbury’s talks shop September 1, 2013 Justin King speaks to Elizabeth Fournier as he nears 10 years at the top of the UK’s third-biggest retailer IT’S not been an easy 2013 for Britain’s supermarkets. From January’s discovery of horsemeat in the UK food chain to the disastrous collapse of a Bangladeshi clothing factory in April, retail bosses have been forced to [...]
As Ocado posts a half-year profit, will the business now go from strength to strength? July 1, 2014 Jonathan Jackson, a partner and head of equities at Killik & Co, says Yes. Ocado offers a unique way to play the expected strong growth in the UK online grocery market. The group offers investors the potential to benefit from its industry-leading intellectual property, built up over 13 years of investment in technology, to more [...]
Tesco market share sinks to a 20-year low June 3, 2014 TESCO boss Philip Clarke is under renewed pressure after figures out yesterday showed that customers abandoning its stores have caused the chain to suffer its worst loss in market share in 20 years. Analysts lashed out as data from Kantar WorldPanel revealed that Tesco’s sales slipped by 3.1 per cent year-on-year in the 12 weeks [...]
Tesco to splash £11m on Dave Lewis and Philip Clarke rescue operation July 21, 2014 Tesco will spend more than £1.8m on its new chief executive Dave Lewis but up to £9.6m on departing boss Philip Clarke as the supermarket puts its faith in the industry outsider to turn its sales around. Clarke’s shock departure and his replacement with Unilever’s president of personal care, who will start in October, comes [...]
City of London and Westminster property tribes (almost) put rivalry aside July 21, 2014 The City of London and Westminster’s property giants put their old rivalries aside last night, as they came together in the House of Lords to launch Building Central London’s Future – A Manifesto For Growth. Well, almost… First to the stage was co-founder of Exemplar Properties and chairman of Westminster Property Association Daniel Van Gelder, [...]
Best of the Brokers for 06 May 2014 May 5, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITVIC Barclays has cut the drinks maker from “overweight” to “equalweight”, after a strong share price rise over the past year. The broker remains confident in Britvic’s management and its credentials as a safe haven investment, but sees the stock as well-priced with [...]
Games ticket registration to begin May 5, 2014 ATHLETICS: Registration for 20,000 tickets to the second Sainsbury’s Anniversary Games opens at 9am this morning. The event, held at the Olympic Stadium in east London last year, will take place at Horse Guards Parade and The Mall on 20 July.
Too big to succeed? How Tesco’s new leader can take on the toxic retailer July 21, 2014 The last-minute cancellation of his “40 years at Tesco” party suggests that Philip Clarke’s departure came as a big surprise. But in truth, his future at Tesco had been looking increasingly bleak for months. The man himself conceded as much in March, with his surprise statement at a conference that his days as chief executive [...]