Sainsbury’s to expand clothing sales by trialling online launch June 9, 2014 Sainsbury is to take on its high street and supermarket rivals by selling its clothing brand Tu online for the first time. The retailer said yesterday that it will pilot selling clothing to around 200 “invited” customers in the Midlands in August, which if successful would then be rolled out nationwide. It comes after people [...]
Best of the Brokers for 27 May 2014 May 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO Deutsche Bank has maintained its “buy” recommendation and target price of 342p for the supermarket chain, ahead of a first-quarter trading update on 4 June. The broker forecasts UK sales to deteriorate but expects Europe to continue the improved trend seen in [...]
Wal-Mart reclaims Fortune 500 crown as China snaps at its heels July 7, 2014 Chinese firms are closing in on the top spots in global business, as highlighted by yesterday’s update of the Fortune 500 index of corporate giants, which showed the world’s third and fourth biggest companies are now based in the planet’s second largest economy. Retail titan Wal-Mart regained its spot at the top, swapping places with [...]
Currency weighs on Hilton Foods May 14, 2014 Meat packing group Hilton Foods said yesterday the strength of the pound was continuing to dampen its results, though its new contract with Tesco was ramping up as planned. Overall trading had been in line with forecasts since December, the London-listed company said, adding that it continued to explore “opportunities to grow the business” in the [...]
Tesco ends promotions on salad after study into wasted produce October 20, 2013 TESCO has called an end to promotions on certain fresh food products in stores after conducting a study into food waste across its UK operations. Britain’s biggest supermarket said it will stop multi-buy offers on large bags of salad to stop encouraging people to buy large amounts that then go to waste. Commercial director Matt [...]
Lidl owner Schwarz Group to be biggest grocery retailer in western Europe by 2018 | City A.M. June 18, 2014 Schwarz Group, the owner of cut-price supermarket Lidl, is set to become the top grocery retailer in western Europe, with the German company likely to overtake current market leader French rival Carrefour by 2018 and perhaps as soon as the end of next year,a report released by Planet Retail yesterday claimed. With Schwarz Group only [...]
Lidl owner to be biggest grocery retailer in western Europe by 2018 June 17, 2014 Schwarz Group, the owner of cut-price supermarket Lidl, is set to become the top grocery retailer in western Europe, with the German company likely to overtake current market leader French rival Carrefour by 2018 and perhaps as soon as the end of next year,a report released by Planet Retail yesterday claimed. With Schwarz Group only [...]
Sainsbury’s Bank doubles its workforce June 24, 2014 SAINSBURY’S hired 500 more workers yesterday as it expands its foreign currency operations through its banking arm. The expansion of its deal with forex provider Travelex will more than double its workforce, which currently stands at 400. Those staff had previously worked in the supermarket’s bureaux, and are being transferred over under the five-year agreement. [...]
Bottom Line: Focus on staying number one at home April 16, 2014 BELEAGUERED Tesco boss Philip Clarke has declared he isn’t going anywhere. Unfortunately, on his watch, neither is the nation’s favourite supermarket. After twenty years of rising profits for the group, this is the second year in a row where they have fallen. Pre-tax profits were down 6.9 per cent: 7.7 per cent in constant exchange [...]
Fidelity revolts over executive short-termism July 3, 2014 FUND manager Fidelity yesterday launched an attack on executive pay after revealing it voted against aspects of pay deals at more than half of UK annual meetings this year. The influential group, which owns stakes in hundreds of UK-listed companies, said it had voted against remuneration proposals for 52 per cent of FTSE 350 firms [...]