The proof is in the pudding at Sainsbury’s January 11, 2012 J SAINSBURY has reported a record Christmas despite the gloomy economic backdrop, as cash-strapped customers treated themselves during the festive season. Britain’s third largest supermarket said like-for-like sales excluding fuel and VAT and rose 1.2 per cent in the third quarter to 7 January, above analysts’ consensus of 0.9 per cent. The grocer reported 26m [...]
Auto-enrolment begins to shake up UK pensions September 30, 2012 BUSINESS lobbies, unions, and pension funds have backed pensions minister Steve Webb’s auto-enrolment scheme, as it is rolled out this morning. From today, firms with more than 120,000 employees must enrol all staff in a pension scheme, and by 2018 all employees earning enough to pay national insurance will have to be put in a [...]
Ready to thrive on its own but still waiting for the launch date September 3, 2012 IT IS A slow year for IPOs, so hopes of a Direct Line Group flotation are high, even as it awaits final confirmation. Direct Line is keen to stress the extent to which it has now prepared itself to operate separately from RBS Group, but it should also still benefit from the connection. A five-year [...]
FTSE 100 up on ECB meeting hopes September 6, 2012 The blue chip index was up in morning trading, as markets were dominated by speculation over European Central Bank policy action at the monthly meeting later today. The Bank of England’s Monetary Policy Committee minutes will also be released today, at 12 noon. Miners led the index up, as Lonmin was an early riser, adding [...]
Barratt to build 463 Fulham homes July 12, 2012 Housebuilder Barratt Developments announced yesterday that its subsidiary Barratt London, in partnership with L&Q, the housing association, has bought a derelict 8.5 acre site in Fulham from Sainsbury’s. It currently houses a Sainsbury’s store and car park and a large, derelict wharf building. Barratt is set to transform the £420m site into 463 riverside flats [...]
Supermarkets enjoy a rare lift during summer September 3, 2012 THE RETURN of the warmer summer weather together with the Olympics and the use of vouchers helped grocers enjoy their best trading performance of the year last month, in a rare bright spot amid the gloom across the rest of the retail industry. According to the latest figures from Nielsen, grocery sales in the four [...]
ANALYST VIEWS: HOW DID SAINSBURY’S FARE AGAINST RIVALS? January 11, 2012 PHILIP DORGAN | PANMURE GORDON A continued strong performance from Sainsbury… we believe that it continues to be underestimated by the market. True, its reported sales growth period is longer than for Morrison… but we believe that it had a good Christmas. KEITH BOWMAN | HARGREAVES LANSDOWN In all, Sainsbury has again surprised on the [...]
Strong first half puts Interserve back on track for the full year August 15, 2012 SUPPORT services and construction group Interserve yesterday reported half-year profit of eight per cent driven by strong performance in its British support services business. Pre-tax profit for the firm, whose services range from cleaning Sainsbury’s supermarkets to building Jaguar a new site in Coventry, came in at £32.6m in the six months to 30 June, [...]
British Land acquires mall July 31, 2012 BRITISH LAND yesterday said it has bought a 50 per cent share in the Eden Walk shopping centre in Kingston-upon-Thames for £41.5m. The firm bought the stake in the 1960s mall from the Universities Superannuation Scheme, its partner on Whiteley Shopping Centre in South Hampshire, which is due to open next year. The pair plan [...]
SAINSBURY’S FAIL TO DELIVER THIS CHRISTMAS December 22, 2011 UP TO one hundred Sainbury’s shoppers were disappointed when a website malfunction caused delivery slot bookings to be cancelled, resulting in lost Christmas orders. The UK’s third largest grocer said it has offered a gesture of goodwill – although it would not specify what – to the customers for whom a suitable alternative could not [...]