How Sainsbury’s, Tesco and even discounters Aldi and Lidl reined in property expansion plans and ended the supermarket turf wars May 6, 2015 In the never-ending quest for growth, for decades supermarkets held a major arsenal in their weaponry – land. But not any more. Sainsbury's today revealed it took a £682m writedown on its property portfolio in another sign the decades-long land grab by supermarkets has failed to pay off. Tesco's property writedowns run into the billions [...]
The count is in: These are the retail winners and losers for Christmas 2015 (according to Hargreaves Lansdown) January 15, 2016 After a busy few days chock-full of Christmas retail results, we're finally beginning to get a sense of who the winners and losers of 2015's festive period might be. Yesterday, Tesco surprised investors with better-than-expected results, rounding off a solid performance among the UK's traditional supermarket sector – although Asda is still yet to report. Marks & [...]
Tesco share price spikes as Dunnhumby sale speculation mounts March 16, 2015 Tesco shares spiked four per cent in afternoon trading amid mounting speculation of a potential sale of its lucrative data business Dunnhumby. A deal, which could be worth as much as £2bn to the supermarket according to analysts, is moving ahead, with WPP and a host of private equity firms vying for the data company [...]
EU-wide cap on credit and debit card fees could save businesses money – but customers miss out thanks to slashed rewards programmes December 9, 2015 A new EU-wide cap on credit and debit card fees intended to save consumers cash may have unforseen consequences, experts have warned. The cap on how much credit and debit card companies can charge retailers, which went into effect today, limits fees on credit card payments to 0.30 per cent of the transaction value. Fees [...]
Halloween 2015 could be worth as much as £400m to retailers October 29, 2015 We're used to grinches complaining Halloween is an American import they wish would go away, but it looks like Halloween in all its (fake)blood-soaked sugary glory is here to stay, bringing a welcome boost to retailers. Sainsbury's says Halloween is now the third biggest retail event of the year, after Christmas and Easter. Last year Planet [...]
UK Pensions: FTSE 100 companies slice over £20bn off defined benefit (DB) pensions deficit but overall funding level in private sector remains bleak February 1, 2016 The total deficit for defined benefit (DB) pensions schemes for FTSE 100 companies has been slashed by £21bn over the course of a year. According to figures released today by JLT Employee Benefits, the total deficit across FTSE 100 companies stood at £77bn at 31 January 2016, down from £98bn at the same time the year [...]
Tesco’s Patrick Cescau is latest to quit in boardroom shake-up March 23, 2015 PATRICK Cescau, Tesco’s senior non-executive director who led the search for the supermarket’s new chairman, will become the latest to leave next month in an ongoing shake-up of its board and management team. Cescau, who was at one point seen as a candidate for the chairman role himself, helped recruit Barratt boss John Allan to [...]
Tesco opens second hot food store format in Villiers Street, Embankment March 31, 2015 Tesco may be on course to shut down 43 underperforming stores as new management tries to get the business back on track, but it's not standing still when it comes to opening its new food format stores. The troubled supermarket opened its second store – which serves hot food for breakfast, lunch and dinner, as well [...]
Petrol prices plummet, but what’s that got to do with the price of water? January 14, 2016 As we all know, the oil industry is not having a great time. Brent crude fell to below $30 (£20.80) a barrel for the first time since 2004 on Wednesday, and now there’s panic in the press at the idea that petrol, now 86p per litre, might become cheaper than water. The Institute of Economic [...]
Sir Ken Morrison has taken a £6m stake in rival Sainsbury’s December 21, 2015 The outspoken former chairman of Morrisons has taken a £6m stake in rival supermarket Sainsbury's. Sir Ken Morrison now owns 2.6m share in Sainsbury, while his son William owns 2.1m, giving the pair a combined £11.9m stake. The man who once told Morrisons' chief executive Dalton Phillips his strategy was "bulls***" has gone further than just implied support. [...]