In pictures: Inside Leeds’ new Netto store November 6, 2014 It was several months ago that Sainsbury's decided if you can't beat 'em, join 'em, and launched a tie-up with Danish discounter Netto. Today, the first of 15 new stores opened in Leeds. Lest we forget, the retailer beat a retreat from the UK market back in 2010, selling its 193 stores to Asda for [...]
How BHS’ food offerings could unseat Asda and Morrisons March 24, 2014 Sir Philip Green has come knocking at the major supermarkets’ door with plans to launch the first trial food outlet within a BHS department store this week. The retail tycoon, who is eyeing around 150 openings, aims “to be competitive” within the convenience food sector and undercut the big four by around 10 per cent [...]
Sainsbury’s eyes dividend cuts as profits set to fall November 10, 2014 Spending cuts, including a reduction in its dividend, are tipped to be on the agenda for Sainsbury’s on Wednesday as the supermarket prepares to rein in costs along with its first-half results. Analysts expect chief executive Mike Coupe will reveal a disappointing 12.5 per cent fall in profits to £350m for the period, as the [...]
Asda staff in line for £28m bonus February 27, 2014 Asda is to pay out £27.8m in staff bonuses today, with some employees receiving up to £500 after the Walmart-owned chain published results last week showing a slowdown in fourth quarter sales. Some 142,600 staff who have worked over six months at Asda will receive a bonus of up to £320 while 14,000 colleagues from [...]
Home Retail and TfL take Argos underground at Cannon Street Tube station November 25, 2014 Commuters will now be able to pick up everything from laptops and televisions to furniture as they hop on the Tube after Argos launched its first Underground store yesterday. The retailer’s parent company Home Retail Group has signed a partnership with Transport for London to open a store “the size of a large family kitchen” [...]
Black Friday UK 2014 vs 2013: Live graph reveals how insane this year’s frenzy is as more retailers get on board November 28, 2014 Is it us, or has Black Friday gone crazy this year? There have been reports of punch-ups at supermarkets and even someone breaking their wrist in the clamour to get hold of a cheap telly. And as if we didn't already need a reminder of the sheer American-ness of it all, Asda has laid on [...]
Black Friday 2014: These eight Vines will make you glad you stayed in the office November 28, 2014 Pandemonium has erupted as Black Friday reached fever pitch in a number of stores across the UK. This year the all-American import was bigger than ever with the likes of Sainsbury's, Marks & Spencer, and Tesco getting involved. They slashed prices on everything from electricals like TVs, tablets and other gadgets to designer watches, clothing [...]
Brent crude oil falls below $50 January 7, 2015 The price of Brent crude oil has dipped below $50-a-barrel mark for the first time in five and a half years, marking a symbolic moment for oil. The black stuff fell another two per cent this morning to $49.99 a barrel. Yesterday Brent crude dipped to $51.12, following a six per cent fall on Monday, [...]
Asda and Tesco kick off latest fuel price war March 10, 2014 SUPERMARKET chain Tesco kicked off another fuel price war yesterday, swiftly followed by Asda, following a decline in the wholesale cost of petrol and diesel despite escalating political unrest in Ukraine. Tesco cut the price of its petrol and diesel by one pence per litre (ppl) from yesterday afternoon. Asda is lowering its diesel by [...]
Blackstone mulls £1.5bn takeover of drinks bottler December 7, 2014 US PRIVATE equity giant Blackstone Group is considering a £1.5bn takeover bid for Refresco Gerber, Europe’s largest soft drinks bottler, it emerged yesterday. The US investment specialist is among several interested parties weighing up bids for the Anglo-Dutch company. Blackstone’s private equity rival KKR and CVC Partners are also rumoured to be circling, with bids [...]