Global markets dragged down by Eurozone crisis September 26, 2011 Gains by banks were outweighed by heavy losses among miners in early trading today as Eurozone bailout fears and bleak forecasts on world economic growth cast a shadow over markets. After last week’s rollercoaster ride, volatility looked set to continue as Eurozone leaders conceded that they would have to pump in trillions to have an [...]
Tesco kicks off price war September 22, 2011 TESCO has kicked off a price war with rivals, announcing that it plans to splash out £500m on dropping prices on 3,000 food items. In an aggressive attempt to outflank the competition, the supermarket giant has vowed to focus the campaign on cheap, everyday products and to scrap complex promotions in favour of across-the-board price [...]
THE WEEK AHEAD October 2, 2011 COMPANY NEWS ● James Halstead announces today. Its flooring can be found near and far: from the Scott Base in Antarctica, to the Svalbard Hotel on the edge of the polar icecap. ● Tomorrow, Wolseley will deliver its full year results. The FTSE 100 heating and plumbing distributor operates in 25 countries, with 4,400 branches [...]
Morrisons share edges up as thrift is order of the day September 13, 2011 MORRISONS has emerged as the current market share winner among the big four grocers as consumers look for savings in the tough economic environment. The grocer’s market share improved to 11.5 per cent in the 12 weeks to 4 September compared to 11.4 per cent in the comparable period last year, figures from Kantar Worldpanel [...]
Aldi market share lifts in tough climate October 11, 2011 BUDGET supermarket groups are growing sales faster than rivals in Britain’s grocery sector as cash-strapped shoppers battle to preserve their income by trading down, market research showed yesterday. Kantar Worldpanel said grocery sales rose 5.1 per cent year-on-year in the 12 weeks to 3 October, up from 4.5 per cent in the previous 12 week [...]
Sales surge at Morrisons September 8, 2011 MORRISONS marked its forecast-beating first half results with a renewed effort to finally enter the online delivery market – more than a decade after its rivals launched their services. The supermarket saw an 8.9 per cent rise in first-half profits to £449m, as a focus on fresh foods, low prices and promotions helped it chip [...]
Sales surge at Morrisons September 8, 2011 MORRISONS marked its forecast-beating first half results with a renewed effort to finally enter the online delivery market – more than a decade after its rivals launched their services. The supermarket saw an 8.9 per cent rise in first-half profits to £449m, as a focus on fresh foods, low prices and promotions helped it chip [...]
Sainsbury’s sales beat Christmas forecasts January 12, 2011 Strong sales of premium groceries and non-food ranges like clothing helped J Sainsbury to report a rise in Christmas sales which analysts expect will be the best among the top four grocers. Britain’s third-biggest supermarket group, which trails market leader Tesco and Wal-Mart’s Asda in terms of annual sales, said on Wednesday sales at stores [...]
Sainsbury’s to create 20,000 new jobs January 10, 2011 Sainsbury’s is to create 20,000 in the next three years. The firm confirmed its plans in a meeting with prime minister David Cameron. Sainsbury’s chief executive Justin King said the new posts would be a mix of full and part time jobs. The company has 900 stores and employs 150,000 people. Under the plans jobs [...]
Greek progress lends a hand to FTSE despite retail worries October 5, 2011 RALLIES by hard-pressed banks, insurers and commodity stocks led a bounce back by Britain’s top shares yesterday as support for debt-laden Greece revived investor appetite for riskier assets. Financial issues were boosted after the International Monetary Fund said it “definitely participate” in a second bailout package for Greece if the Washington-based lender was happy about [...]