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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 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 [...]