Grocery price war continues: Tesco’s rebound hurts Asda as Aldi reaches record market share March 10, 2015 Tesco's return to growth is stealing market share from Asda, according to the latest figures from Kantar Worldpanel. The sector as a whole is still hugely competitive: the grocery price war has driven supermarket deflation to a record level of 1.6 per cent for the 12 weeks to March 1. Kantar estimated that this had [...]
Tesco: The decline and fall of the supermarket giant and its share price in one chart April 22, 2015 The business world is reacting to the news that Tesco has racked up a £6.38bn loss – one of the biggest losses ever made by a UK company. The beleaguered supermarket’s pre-tax losses for the year are even higher than the £5bn markets had been expecting. There was also a big hit from the writedown of [...]
FTSE 100 weighed down by record £6.4bn Tesco loss April 22, 2015 The largest full-year loss ever felt by a British retailer unsurprisingly made a dent on the FTSE 100 on Wednesday, as shares in Tesco fell by 5.5 per cent. The embattled supermarket was the biggest faller on the FTSE after reporting an annual loss of £6.4bn – a "difficult year" in the words of chief [...]
Best of the Brokers for 11 November 2015 November 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com COMPAGNIE FINANCIERE RICHEMONT RBC Capital Markets has reiterated its “outperform” rating and €90 target price despite the broker reducing its 2016-17 earnings per share forecasts by around five per cent, reflecting a more difficult outlook in the second half of the year [...]
Asda will axe jobs in the UK as supermarket struggles continue January 18, 2016 Asda will axe jobs in the UK amid increasing pressure on British supermarkets. The redundancies will be at Walmart-owned supermarket's Leeds head office. The supermarket said in a statement: "It’s well documented that in recent years, customers have radically changed the way they shop. "We were the first of the “big four” to recognise this and [...]
After the government’s volte-face on the sugar tax, will marketeers be left with a crashing low? March 22, 2016 Should the announcement of a sugar tax in last week’s Budget have marketeers worried? It certainly represents a volte-face on the part of the government. In October, when the advisory group Public Health England (PHE) released a report recommending measures to tackle childhood obesity, including a sugar tax of 10 to 20 per cent, a [...]
Tesco faces US lawsuits over profit scandal March 24, 2015 A GROUP of angry shareholders are launching a lawsuit against Tesco and seeking billions of pounds in compensation over last year’s accounting scandal that led to a huge black hole in profits. Tesco has suffered one of the most turbulent years in its history following revelations at the end of last year it overstated profits [...]
Here’s everything we know about Tesco’s new chairman, John Allan February 17, 2015 After a four-month search, Tesco has finally revealed who will replace Sir Richard Broadbent as chairman. John Allan was chosen after “a deep and thorough process” to lead the supermarket's board as it attempts to recover from a wretched 2014. Allan, who commented that he was “very pleased to be taking on this role at such a [...]
Will Marks & Spencer’s new boss Steve Rowe “kitchen sink” the retailer? April 4, 2016 Marks & Spencer's new boss Steve Rowe picked up the reins from Marc Bolland on Friday – just days before the troubled retailer is due to reveal its fourth quarter figures. If M&S' most recent set of results is anything to go by, investors can probably expect another set of declines – particularly within general [...]
Back to basics for Tesco: Dave Lewis’s plan has a fighting chance of success April 22, 2015 If Tesco chief executive Dave Lewis takes any pleasure in yesterday’s apocalyptic-sounding headlines, it will be the knowledge that the “kitchen sinking” is complete – surely there can be no more bad news for the retailer to announce. Such a huge loss – £6.4bn in the year to the end of February, and one of [...]