Could Archie Norman be Tesco’s new chairman? These are the runners and riders for the supermarket’s top job February 14, 2015 Archie norman is the latest City boss to be touted as Tesco’s new top boss and a successor to Sir Richard Broadbent who left last year in the wake of a profit scandal. The current chairman of ITV and former boss of rival supermarket Asda where he gained the tag of being the turnaround king, [...]
Allan Leighton confirmed as Co-op chairman February 19, 2015 ALLAN Leighton has no qualms about taking the toughest jobs in business. The self-style pluralist has experienced several, including Leeds United (where he organised a rescue takeover) and Asda (which he turned around after near-bankruptcy) to name a couple. The boardroom veteran added another to his list yesterday after the Co-operative Group confirmed the appointment [...]
Asda returns to sales growth as price cuts kick in May 15, 2014 SUPERMARKET giant Asda said yesterday it had returned to underlying sales growth in its first quarter as price-cuts started to attract thrifty shoppers. Asda, which trails market leader Tesco by annual sales and is vying with Sainsbury’s to be the UK’s no2 grocer, said like-for-like sales rose 0.1 per cent in the 15 weeks to [...]
Sainsbury’s to slash 500 jobs January 13, 2015 SAINSBURY’S is to cut 500 head office jobs as part of a plan set out by its new chief executive to save hundreds of millions of pounds in costs. Mike Coupe pledged in November to save £500m over the next three years in order to fund a £150m price offensive against its retail rivals. The [...]
Tesco to cut up to 10,000 jobs amid overhaul February 15, 2015 Tesco could cut up to 10,000 jobs as part of a radical overhaul by chief executive Dave Lewis aimed at halting a slide in profits. Britain’s biggest supermarket, which employs around 314,000 staff, announced plans last month to save £250m a year by axing 43 unprofitable stores, shelving 49 new projects and closing its [...]
Sinking supermarkets: Tesco has had a disastrous year. Can it recover? June 18, 2015 The UK’s supermarkets were once investment darlings. The likes of Tesco and Sainsbury’s emerged on the stock markets, radically changed our shopping habits and then rose to dominance on the FTSE 100. But times have changed, and the supermarkets have been down on their luck. Are they still worthwhile investments? “Part of the [...]
Tesco recovers from 18 months of slow sales March 10, 2015 TESCO has posted its strongest performance in 18 months, with sales up 1.1 per cent compared with 2014, according to industry data for the 12 weeks ending 1 March. The latest grocery share figures from Kantar Worldpanel suggest that the major overhaul of strategy at the UK’s biggest retailer by new chief executive Dave Lewis [...]
Amazon steals entertainment spend from UK supermarkets January 26, 2015 ONLINE retail giant Amazon took a larger slice of the UK entertainment market over the Christmas period, largely at the expense of the major supermarkets, according to research published today. Kantar Worldpanel figures show that Amazon took one in every four pounds (25.6 per cent) spent on physical music, games and video in the 12 [...]
South African retail billionaire to launch stores on UK high street December 7, 2014 SOUTH African retail magnate Christo Wiese is poised to make a move on the UK high street by opening a new discount fashion chain led by former Asda boss Andy Bond. Pepkor UK, a vehicle named after Weise’s holding company, was set up on Companies House earlier this year. Former Asda chief executive Andy Bond [...]
The runners and riders to take over from Dalton Philips as CEO January 13, 2015 “EXPECT an ex-Tesco employee – there are plenty around,” one analyst joked yesterday when asked who would take over from Dalton Philips as Morrisons boss. After several management changes at Tesco over the last three years, there are certainly a few among the list of potential candidates. One of them is not Philip Clarke, who [...]