Tesco share price falls, sales slide as discounters march on ahead June 30, 2015 Tesco shares were dealt a blow yesterday, after industry figures revealed another slowdown in sales at the troubled supermarket chain – despite its recent efforts to turn itself around. Data from Kantar Worldpanel showed sales at Tesco fell by 1.3 per cent in the 12 weeks to 21 June, underperforming the overall grocery [...]
Asda steals market share as like-for-likes edge up August 14, 2014 Like-for-like sales at Asda edged up 0.5 per cent for the 10 weeks to June 30, with the supermarket building market share by 0.14 per cent year-on-year. The Walmart-owned grocer – which is currently going through a major restructure involving 1,360 job cuts – said growth demonstrated it was “continuing to deliver on its [...]
Asos poaches new finance chief from debt manager Capquest April 14, 2015 FASHION giant Asos said yesterday it has ended a six-month search for a new chief financial officer after poaching Helen Ashton from debt management business Capquest. Ashton will join the online retailer in September, replacing Nick Beighton who has already moved into his new position as chief operating officer. Ashton [pictured left] was finance director [...]
Morrisons clings to its position in FTSE 100 index June 3, 2015 MORRISONS yesterday narrowly escaped eviction from the FTSE 100 after being saved at the eleventh hour by strong retail figures. Inmarsat was yesterday promoted to Britain’s premier share index, while power company Aggreko was relegated to the FTSE 250. Bradford-based Morrisons had been widely expected to be demoted after suffering a decline in sales, profit [...]
Sainsbury’s and Tesco ditch Transport for London’s Tube station Click & Collect scheme June 17, 2015 It seems the retail revolution is still a little way off, after supermarket giants Sainsbury's and Tesco ditched a scheme introduced by Transport for London (TfL) to let shoppers collect their groceries at Tube stations. Read more: TfL given the green light to turn its HQ into flats The scheme, introduced amid much pomp and [...]
Asda sales ahead despite profit warning from owner Wal-mart August 14, 2014 ASDA is outperforming its leading supermarket rivals in the battle for customers’ loyalty after reporting a 0.5 per cent increase in like-for-like sales in the second quarter. The US-owned chain was the first of the big four to take action against the discounters by cutting its prices when it pledged in November to invest £1bn [...]
M Local selloff: Morrisons’ ill-fated attempt to build a convenience arm has become a lesson for the industry August 26, 2015 It was a cold day in February 2013 when Morrisons’ former chief executive Dalton Philips was faced with a tough decision. Film rental chain Blockbuster had just collapsed and Morrisons was one of several suitors circling a portfolio of 50 stores administrators had put up for sale. Read more: It's a deal – Morrisons [...]
Supermarket sweep: Here’s how Britain’s rapidly changing grocery sector will look in 2020 June 4, 2015 Here's a slither of good news for Britain's embattled grocery sector – growth is likely to pick-up over the next five years, according to food and consumer goods researcher and charity IGD. The grocery market will swell by 13 per cent to £200.6bn by 2020, as growth picks up from a low of 1.7 per [...]
Jobs at risk in Asda shake-up July 3, 2014 ASDA announced a huge shake-up of its management structure yesterday that was likely to lead to 1,360 redundancies. The cuts are being made to help create more flexible management structures across Asda’s 578 UK stores and follow proposals laid out last May when it initially said 2,600 jobs were at risk. Chief executive Andy Clarke [...]
Morrisons is the only big four grocer “currently on right track”, says Nielsen June 5, 2015 Morrisons waits for good news for months and then three come along at once. The supermarket – which has, until now, been one of the more unloved – has already had one set of figures prove it's the only one of the big four in growth, which in turn prompted a share price rally, [...]