“Drastic Dave” Lewis is delivering at Tesco with £4.2bn sale of South Korean arm Homeplus to MBK September 7, 2015 Ever since Dave Lewis was appointed chief executive of Tesco last year, he has made strengthening the balance sheet a priority for the troubled retailer. Although Homeplus in South Korea was a profitable business, the focus has been on protecting Tesco’s UK market share in light of increasing competition from lower priced discounters, such as [...]
Apple Cyber Monday 2015 deals: Best UK sales for cheap iPhones, Macs, iPads, iPad Pro the Apple Watch and more – at Tesco, Argos, Currys PCWorld, John Lewis, eBay and others November 30, 2015 Just like Black Friday, Apple's not one to get on the Cyber Monday discounting bandwagon, but that doesn't mean you still can't bag a bargain on iPhones, iPads Macs and more. We've hunted high and low so you don't have to when it comes to bagging an Apple deal. Here are the bargains we found. Read more: [...]
Morrisons chairman Andrew Higginson joins Shore Capital as senior adviser March 2, 2016 Investment firm Shore Capital has signed up retail veteran and Morrisons chairman Andrew Higginson as a senior adviser to help bolster its expertise in consumer industries. Higginson, who is also currently chairman of home shopping group N Brown, joined Morrisons in 2014 to lead a shake-up at the supermarket following years of worsening sales. He previously spent 15 years on the [...]
Ribena and Capri Sun fall victim to Tesco health drive – Brand Index August 5, 2015 Ribena and Capri Sun have become Tesco’s first victims of the retail chain’s decision to help customers make healthier choices and to tackle the serious issue of childhood health. So the high street giant has removed small, lunchbox sized versions of the children’s – and some parents’ – favourite. Although health campaigns reacted positively to [...]
Brexit worries are dampening consumer confidence, says Marks and Spencer boss May 25, 2016 Consumer confidence has been hit by uncertainty over the EU referendum and has consequences for retailers, according to Marks & Spencer boss Steve Rowe. Speaking today after Marks & Spencer posted its latest results, the company's new chief executive said short term confidence has been knocked. “Customer confidence and optimism, particularly in the short-term, in the last few [...]
EU referendum: Markets cast their votes early as sterling and FTSE 100 rally as polls open June 23, 2016 We may not know what the result of the referendum will be until the small hours, but the markets seem to understand which way the country is heading already. After polls last night showed a swing to Remain in the final days of campaigning, the pound rallied against the dollar, hitting its highest level of [...]
Sainsbury’s beats Tesco, Asda and Morrisons as only top supermarket in growth while Kantar warns of impact Amazon Fresh will have on sector September 22, 2015 Yet more bad data for the Big Four was released today – plus a hint that there could be a fresh problem facing the UK's supermarket sector, in the form of Amazon Fresh. Sainsbury was the only supermarket among the Big Four to keep pace with the sector's growth over the last quarter, with Asda's [...]
Aldi is launching online shopping in 2016, taking on Tesco, Sainsbury’s, Asda and Morrisons in e-commerce, as discount supermarket reports record UK sales September 28, 2015 Aldi will venture into online shopping for the first time with plans to sell wine online from early 2016, taking on rivals Tesco, Sainsbury's, Asda and Morrisons on new territory. Further non-food "special buys" will follow, and customers will have the choice of having items delivered to their homes or picking them up from third-party [...]
Tesco: What assets has it sold and what’s left at the checkout after £4bn South Korea Homeplus sale? September 7, 2015 Tesco has bagged up another asset, adding a nice £4.2bn to its coffers from the sale of its South Korean Homeplus business to a consortium of investors, it was revealed today. It's a major milestone in the supermarket's efforts at fixing its balance sheet – here's how it's progressing so far. Bagged up South Korea [...]
Stocks and sterling show signs of life in mini-recovery after market rout June 15, 2016 Markets jumped in the first minutes of trading this morning and the pound rose against the dollar, clawing back some of yesterday's losses. The FTSE 100 climbed 0.8 per cent at the open, but was still below 6,000 points at 5,972 following yesterday's rout. Standard Chartered, Anglo American, Antofagasta, Glencore, Burberry and Tesco were the [...]