Walmart names overseas boss McMillon as new chief executive November 25, 2013 WALMART yesterday named Doug McMillon as its new chief executive, replacing Mike Duke who will retire next year after five years at the helm of the world’s largest retailer. McMillon, who is currently in charge of Walmart’s fast-growing overseas empires including Asda in the UK, will take over from Duke on 29 January. Coming after [...]
Tesco hit by broker claims that prices rising faster than rivals December 10, 2013 TESCO’S share price faltered yesterday after the group suffered another downgrade from a major broker amid concerns that it has lost its differentiation with its rivals. In a damning note published yesterday, Bernstein analysts said that Tesco has raised prices faster than any of its supermarket competitors since 2010, losing its value credentials along the [...]
Retail still struggling to drive footfall despite British growth November 17, 2013 HIGH streets are still recording declining footfall, with little boost from the robust economic growth recorded for the second and third quarters of the year. Footfall in October was down 2.9 per cent across the sector, compared to the same month in 2012, according to data released today by Springboard and the British Retail Consortium [...]
Greencore draws a line under horsemeat as revenues rise November 26, 2013 GREENCORE posted a robust rise in full-year profits yesterday after recovering in the second half from a slump in the ready meal market caused by the horsemeat scandal. The food group, which makes own label products such as sandwiches and desserts for major supermarkets, said revenues increased by three per cent to £1.19bn in the [...]
Scarlett fever: Under The Skin is a classic March 13, 2014 FILMUNDER THE SKINCert 15 | By Alex DymokeFive Stars IF YOU were considering the filmic potential of Scotland, first to come to mind would probably be the highlands; the dramatic barrenness of the western isles, the bronze light that illuminates the Grampians every evening. You probably wouldn’t think of Asda, Tescos, or obscure ring-roads on [...]
Housing market cools for winter but price growth beating wages November 17, 2013 HOUSE prices this month are still up four per cent on November last year, despite a small seasonal dip from October. According to Rightmove’s latest house price index, London prices are up by 6.9 per cent in the same period. In the year to September, average weekly earnings only rose by 0.8 per cent. Between [...]
UK retail sales grind to a halt in October as supermarkets stutter October 28, 2013 ANNUAL growth in British retail sales unexpectedly ground to a halt over the past month, hit by the first big fall in supermarket sales since February, the Confederation of British Industry said yesterday. The CBI distributive trades survey’s retail sales balance slumped to plus two from a 15-month high of plus 34 struck in September, [...]
Partnerships may be the big trend in 2014 January 26, 2014 Annabel Palmer talks to MediaCom’s Karen Blackett WHEN Karen Blackett, UK chief executive of MediaCom, got her first big break in 1993, it was over a year before Wired magazine launched the first ever ad on the World Wide Web. She talks to City A.M. about her career, adapting to a rapidly-changing industry, and the [...]
Bottom Line: Christmas comes early for King November 13, 2013 THEY say good things come to those who wait. Yesterday, almost a week after rival retailers Marks & Spencer, John Lewis and Morrisons released their Christmas adverts, the UK’s fastest growing supermarket revealed its own tear-jerker – a three-and-a-half minute mini-film that aired during last night’s Coronation Street. The film, which shows clips of ordinary [...]
Supermarkets in fuel pricing wars September 26, 2013 THE SUPERMARKET price war on petrol escalated yesterday, when some of Britain’s largest chains slashed costs for the second time in a matter of days and Sainsbury’s became the latest grocer to enter the fray. Asda said that it would cut unleaded petrol by 3p to 128.7p per litre and diesel by 2p to 135.7p [...]