Asda unveils £100m brand make-over September 21, 2010 THE unveiling of Asda’s Chosen By You range saw chief executive Andy Clarke take centre stage as he claimed the £100m project would be “game changing” because it was the first time a supermarket had put so much time and money into updating its mid-range products. More than 40,000 consumers across the UK took part [...]
Morrisons plans Davies range February 6, 2011 Morrisons plans to launch a fashion range in partnership with designer George Davies, founder of Next. Advanced talks between Morrisons and Davies are expected to conclude this month, clearing the way for a range to be launched as early as the autumn. Davies created rival retailer Asda’s successful George clothing range.
US investor gives Home Retail a boost April 5, 2011 HOME Retail Group saw its shares jump yesterday after US private equity firm Madison Dearborn Capital Partners upped its stake. The Argos and Homebase owner issued a profit warning last month but was buoyed by the move from across the Atlantic. Tradewinds Global Investors, controlled by Chicago-based Madison, held 4.25 per cent of Home Retail’s [...]
Wal-Mart sales still slide February 22, 2011 WAL-MART yesterday posted its seventh consecutive quarterly drop in sales at established US stores and said it will take some time to turn things around in its biggest market. The world’s largest retailer, whose shares closed down 3.1 per cent, has struggled with pricing as it has lost customers to cheaper stores while recovering from [...]
Sainsbury’s misses quarter four target as times get tough March 23, 2011 J Sainsbury, the third-biggest supermarket group, missed fourth-quarter sales forecasts and said trading was likely to remain tough as shoppers face rising fuel prices and government spending cuts. The group, which trails Wal-Mart’s Asda and industry leader Tesco by annual sales, said on sales at stores open over a year rose one per cent, excluding [...]
Sainsbury’s misses quarter four target as times get tough March 23, 2011 J Sainsbury, the third-biggest supermarket group, missed fourth-quarter sales forecasts and said trading was likely to remain tough as shoppers face rising fuel prices and government spending cuts. The group, which trails Wal-Mart’s Asda and industry leader Tesco by annual sales, said on sales at stores open over a year rose one per cent, excluding [...]
Morrisons profit up as it unveils share buyback March 10, 2011 Supermarket group Morrisons has reported a rise in annual profit and issued details o f a share buyback plan. The company announced a pre-tax profit of £874m for the 12 months to the end of January, up from the £858m it made in the same period a year ago. Like-for-like sales, excluding fuel and VAT, [...]
Asda warns of shopper misery as sales drop August 17, 2010 SUPERMARKET chain Asda said yesterday shoppers were being hit in the pocket by government cuts as like-for-like sales excluding fuel fell 0.4 per cent in the second quarter. The chain said its market share had reduced in the 12 weeks to 11 July as total sales crept up “in the low single digits”. Chief executive [...]
Asda sales dip as shoppers hit in the pocket August 17, 2010 SUPERMARKET chain Asda said yesterday shoppers were being hit in the pocket by government cuts as like-for-like sales excluding fuel fell 0.4 per cent in the second quarter. The chain said its market share had reduced in the 12 weeks to 11 July as total sales crept up “in the low single digits”. Chief executive [...]
CITY MOVES | WHO’S SWITCHING JOBS March 27, 2011 HDG Mansur The real estate fund and asset management firm has appointed Jeremy Thorman as sales liaison manager for its mixed-use development in Finzels Reach, Bristol. Thorman will manage the link between sales and construction for the £255m development, working with senior managing director Michael Baker. Thorman joins from European Land and has also held [...]