Five bidders circle Iceland October 20, 2011 AT LEAST five private equity firms were poised to submit first-round non-binding offers for a 77 per cent stake in frozen food retailer Iceland Foods by yesterday’s deadline, four people familiar with the matter said. Iceland Foods’ chief executive and key investor Malcolm Walker is thinking about bidding for the company later in the process, [...]
Sainsbury’s sales edge up October 5, 2011 Sainsbury’s posted an expected rise in second-quarter underlying sales as store extensions and growth in convenience stores, online and non-food ranges helped it to overcome tough trading conditions. The group, which trails Wal-Mart’s Asda and market leader Tesco by annual sales, said on Wednesday sales at stores open over a year rose 1.9 per cent [...]
Brit heads up new Walmart arm September 28, 2011 American supermarket behemoth Walmart has shaken up its top team, and has chosen British exec David Cheesewright to head a new division encompassing the UK, Canada and Sub-Saharan Africa. Cheesewright, the former chief operating officer of Walmart-owned Asda, was most recently chief exec of Canadian operations.
Record sales at Republic despite UK’s retail slump October 12, 2011 REPUBLIC, the private equity owned clothing chain now run by former Asda chief executive Andy Bond, has achieved record sales despite the slump on the high street. The accounts for Republic (Retail) show sales rose 4.5 per cent to £181.19m. Operating profit for the year to 30 January fell 7.3 per cent to £27.27m, however, [...]
Record sales at Republic despite UK’s retail slump October 12, 2011 REPUBLIC, the private equity owned clothing chain now run by former Asda chief executive Andy Bond, has achieved record sales despite the slump on the high street. The accounts for Republic (Retail) show sales rose 4.5 per cent to £181.19m. Operating profit for the year to 30 January fell 7.3 per cent to £27.27m, however, [...]
Early xmas deals boost retail sector November 17, 2011 Early pre-Christmas promotions gave a surprise lift to British retail sales in October, driving up volumes at their fastest pace since June, official data showed on Thursday. The Office for National Statistics said sales volumes including automotive fuel rose 0.6 per cent last month after a 0.5 per cent rise in September and confounding forecasts [...]
Our schools must be open to business so we can have a bright economic future January 10, 2012 NOW that pupils are back at school, it’s time to help them get down to business. One key question they need to be asked is: “Hands up who wants to go into business?” Their answer will not only shape the life chances of millions of young people, but will also have a dramatic impact on [...]
Tesco targets Asda in new price scheme February 27, 2011 TESCO will today start a new supermarket price war by introducing £200m worth of reductions. The retailer plans to lower prices on more than 1,000 everyday products including bread, meat, vegetables and fruits, and medicines across all of its UK stores. The key target in Tesco’s latest promotion is rival Asda – owned by US supermarket giant [...]
Supermarket’s pricing war could put squeeze on Ocado September 21, 2011 TESCO is tipped to launch a price war next week, which one analyst says could put the squeeze on online deliver service Ocado under its pledge to match prices. The retailer was said by industry sources to be trying to dent Asda’s sales, but Ocado could be hit in the crossfire. Panmure Gordon’s Philip Dorgan [...]
Tesco and Sainsbury’s in battle to step up sales October 2, 2011 TESCO reports it half yearly results on Wednesday with analysts predicting international sales offsetting sluggish figure for the UK. The grocer, which has slashed the prices on thousands of lines in a bid to trigger sales rises, will also be eyeing second quarter results from rival Sainsbury’s, which is reporting on the same day. New [...]