Tesco investors non-plussed by John Allan as chairman – he’s no Archie Norman say analysts February 18, 2015 Something to tick off Dave Lewis’ Tesco recovery to-do list: – appointing a new chairman. The milestone was finally passed after a near four-month search with the naming of Dixons Carphone’s John Allan as Richard Broadbent’s successor. What’s that done to Tesco shares? Not much. They edged up slightly in early trading and are [...]
Family incomes start to recover after long squeeze from prices September 24, 2014 Shoppers’ spending power is starting to recover from the long squeeze of low pay rises and high inflation, according to data from Asda. The average household had discretionary income of £172 per week in August, up £5 on the year. The 11th consecutive rise brings spending power close to its all-time high of £174, which [...]
Tesco’s share price nears pre-overstatement level for the first time in four months January 14, 2015 Tesco's share price is nearing the level it was before the supermarket admitting to overstating its profits in September, thanks to a sustained rally in the last month. Shares in the UK's largest retailer have risen more than 30 per cent since mid-December and at pixel time this morning the business was up 2.1 [...]
Asda hurt by first sales drop in three years February 20, 2014 ASDA chief executive Andy Clarke yesterday admitted it had been a “tough year” after the supermarket chain reported its first fall in sales for three years. The Walmart owned chain said like-for-like sales fell 0.1 per cent in the 13 weeks to 3 January, compared to the same period a year ago, marking its first [...]
Tesco, Argos and Currys Black Friday deals: Retailers’ websites struggle with massive demand November 28, 2014 Retailers' websites are struggling to keep up with demand from shoppers hunting for mega-deals on Black Friday. Customers have been unable to access the deals being offered by Tesco, Argos and Currys with their websites returning error messages due to the high volume of visitors just days before "Cyber Monday" when online deals are expected [...]
City Moves for 22 December 2014 | Who’s switching jobs December 21, 2014 LEBC Simon Turner has been appointed director of business planning at the IFA, pensions and employee benefits consultancy. He was previously regional head of financial planning for the northern region at Grant Thornton. Turner has 25 years’ experience in financial services. Jones Day The law firm has announced the appointment of 42 partners, with three [...]
Tesco share price surges nine per cent after naming Matt Davies as new UK boss: sales drop, but turnaround begins January 8, 2015 Tesco's share price surged by more than nine per cent this morning, after the troubled supermarket outlined its turnaround strategy. It reported a fall in like-for-like sales of 2.9 per cent in the 19 weeks to 3 January – a better than expected set of results. The supermarket, which had a dismal 2014, set out [...]
From Grumpy Cat and falling oil prices to Google blackouts and the weather bomb: Here are 10 things we learned this week December 12, 2014 It's been another busy week… here's our pick of the things we learned. 1. Grumpy Cat may not look too impressed but for once she certainly had something to smile about. Turns out the feline internet celebrity earned £32m last year. That's more than a host of business bosses, including Sir Martin Sorrell, Jamie [...]
Aldi to hire 35,000 new staff for expanding discount drive November 10, 2014 GERMAN discounter Aldi is to create 35,000 new jobs and employ up to 1,000 apprentices as it continues to expand its presence in the UK, the company announced yesterday. During a visit from the Prime Minister David Cameron to the chain’s headquarters in Atherstone, Warwickshire, Aldi reiterated its commitment to increasing the number of stores [...]
Retail jobs declining as pressure mounts on supermarket sector October 22, 2014 The number of staff per store on the high street slumped to a record low in the third quarter of the year, as troubled supermarkets overhauled their management structures to reverse sliding sales. The equivalent number of full-time jobs fell by 1.3 per cent between July and September, even as the number of stores increased [...]