Telecity pleases market with robust outlook February 13, 2013 DATA centre operator Telecity yesterday posted a 22 per cent rise in full-year earnings, meeting analyst expectations, and gave a confident outlook for 2013 underlined by robust demand. The British company bases its facilities in European cities like London, Amsterdam and Paris, where multiple Internet connections provide near failsafe services to retailers, banks, social media [...]
Sainsbury hails bumper Xmas but sales slow January 9, 2013 SAINSBURY’S yesterday hailed “a record-breaking Christmas” despite suffering its weakest growth in seven years as the grocer market battles with squeezed household income and cut throat competition. Chief executive Justin King pointed to a 32nd consecutive quarter of like-for-like growth, with sales at stores open a year up 0.9 per cent, excluding fuel in the [...]
Waitrose smashes Christmas sales records January 3, 2013 WAITROSE yesterday toasted record trading in the run-up to the New Year after the grocer said aggressive promotions on products such as champagne and its Brand Price Match campaign helped to lure customers from rivals. The upmarket supermarket, which is owned by John Lewis, said like-for-like sales rose 5.4 per cent between 18 December New [...]
FTSE rally eludes UK grocery giants January 2, 2013 SUPERMARKET chains Morrisons and Sainsbury’s failed to make the most of UK investors’ New Year optimism yesterday after analysts raised fears that their performance had been less than stellar over the crucial Christmas trading period. Morrisons was one of just three fallers in the FTSE – closing down two per cent – after house broker [...]
FTSE 100 up on US earnings optimism January 9, 2013 Engineers and financial stocks led the blue chip index up in early trading, as a solid start to the US earnings season boosted investors’ appetite for stocks. Miners also advanced as investors welcomed news that Alcoa, the US’s biggest aluminium producer, forecasted a positive outlook for 2013. The FTSE 100 – trading around 0.4 per [...]
Mothercare UK boss to exit in team reshuffle January 30, 2013 MOTHERCARE’S UK boss is to leave the baby products retailer as part of a management shake-up to stem falling sales at its troubled UK arm. The retailer said yesterday that Mike Logue, who moved to Mothercare from Asda in late 2011, is to step down next month after the role was made redundant. The restructure [...]
ANALYST VIEWS HOW IS SAINSBURY’S FARING IN A COMPETITIVE ENVIRONMENT? May 9, 2012 JAMES GRZINIC JEFFERIES Sainsbury’s full-year results were nearly two per cent better than expected…Crucially, the group has confirmed that it expects core capex to decline from the 2011-12 peak of £1.24bn to £1bn in 2012-13. We expect yield merits to be better underpinned given better cashflow dynamics, but Morrisons and Tesco are a 20 per [...]
Fallon’s threat to expose FTSE late payments January 7, 2013 BUSINESS minister Michael Fallon is set to name and shame FTSE chief executives who fail to sign their firms up to a prompt payment code designed to help small businesses get paid on time. Fallon wrote to every company in the FTSE 350 in November telling them that the Department for Business, Innovation and Skills [...]
Why Tesco’s cracking results took the Christmas crown January 10, 2013 HOW to find a clear winner in the Christmas battle of the supermarkets? Not from the headline figures, it seems, after straightforward data releases from Sainsbury and Tesco descended into a furore over the small print. Tesco reported like-for-like sales growth of 1.8 per cent over Christmas. Sainsbury reported like-for-like growth of 0.9 per cent. [...]
Grocers set to unveil festive trading figures January 7, 2013 TESCO is expected to emerge as the winner of a tough Christmas trading period for Britain’s big four supermarkets as weak consumer confidence, falling real incomes and rising real prices put pressure on the sector. Analysts predict the grocer will on Thursday post a one per cent rise in UK like-for-like sales for the six [...]