Sainsbury’s sees boost in market share March 21, 2012 J SAINSBURY boss Justin King said the retailer’s success “was not dependent on others failing” as the group continued to win market share from rivals like Tesco and posted a surge in fourth-quarter sales. Justin King described himself as a “competitive guy” as the UK’s third largest supermarket reported a 2.6 rise in like-for-like sales [...]
Inflation on the way up again as energy bills and tuition fees strike November 11, 2012 INFLATION will be back in the spotlight tomorrow when official figures are released, followed by the Bank of England’s quarterly Inflation Report on Wednesday. While the Consumer Price Index (CPI) fell to 2.2 per cent in September, it is expected to increase again due to rising tuition and energy bills. “We expect the CPI to [...]
CBRE GI’s supermarket sweep October 15, 2012 CBRE Global Investors yesterday said it has bought five supermarkets across the UK for around £62m. The acquisitions include two Waitrose stores in Frimley and East Grinstead, two Sainsbury’s stores in Chadwell Heath and West Wickham and a Co-op in Leeds. “These five acquisitions offer secure income streams of more than 15 years and with [...]
Big supermarkets fight to master a changing market October 3, 2012 TESCO’S first fall in profits for almost two decades suggests a watershed moment for the supermarkets. On one side, the race for space against a backdrop of generous margins; on the other, an altogether tougher battle for bargain-conscious, internet-savvy and convenience-oriented customers as margins shrink. Yesterday’s results were a worrying suggestion that Tesco is losing [...]
Sainsbury’s closes gap in online sales March 12, 2012 SAINSBURY’S has claimed to have become the second-biggest online grocer after its orders topped 165,000 a week. The supermarket said a 20 per cent rise in orders per week, with an annualised turnover of £750m, makes its website the fastest growing online grocery business. Overall, Sainsbury’s still ranks third behind Tesco and Asda, but the [...]
Who’s switching jobs November 6, 2012 Sainsbury’s Bank Peter Griffiths has been appointed chief executive of the supermarket bank, effective 19 November. He was previously chief executive of Principality Building Society. Griffiths has also worked as chief operating officer at Morgan Chambers, a consultancy, and head of commercial services at NatWest Group IT. RBC Wealth Management Nick Reid has been appointed [...]
What the other papers say this morning November 22, 2012 FINANCIAL TIMES State Street in pension fee probe UK regulators are investigating allegations that State Street overcharged Ireland’s state pension fund and several big UK corporate pension funds, including those of the Royal Mail and J Sainsbury, billing them for fees not included in their contracts, according to people familiar with the matter. Ireland’s national [...]
Cheap doesn’t always mean bad but be prepared for a challenge October 29, 2012 bottleopener@cityam.com THE £5 bottle of wine has long been a staple in everyone’s shopping baskets but that’s changing. Today’s 20 per cent VAT and the general impact of inflation is quickly making it nothing more than a distant memory. With that in mind, accompanied by six City A.M. readers, I set on a quest to [...]
The Tipster | Bookmaker to pay over the odds October 1, 2012 ATTENTION will be focused on William Hill this week. The UKs largest bookmaker has recently been told that a £350m offer for Sportingbet “significantly undervalues” the online sports betting company. With Sportingbet due to report tomorrow, investors will be closely monitoring whether William Hill is likely to pay over the odds. Spread Co quotes a [...]
Justin King hits out at Osborne October 9, 2012 SAINSBURY’S chief executive Justin King has criticised chancellor George Osborne’s plan to allow employees to swap workplace rights for shares in their firms. The supermarket boss told a retail conference that the plan is “not what we should be doing”, adding that such a scheme would destroy trust between the public and some of Britain’s [...]