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 [...]
Thinking bigger: My Voucher Codes founder Mark Pearson talks Fern Britton and young tech entrepreneurs November 16, 2014 While we’re talking, it suddenly dawns on Mark Pearson that it’s his company’s eighth birthday. “It’s definitely around now,” he laughs, raising his empty plastic water cup in the air. In June of this year, Pearson sold My Voucher Codes, as part of his parent company Markco Media, to global mobile money technology provider [...]
Best of the Brokers for 06 June 2014 June 5, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com POUNDLAND JP Morgan, which last month won the joint broking mandate for Poundland, has upgraded the retailer from “neutral” to “overweight” with an unchanged price target of 377p. The broker thinks the effects on Poundland of Tesco’s pound aisle trial are likely to [...]
Tesco to swell presence in China but profits are sliding October 2, 2013 Tesco has announced it's to join forces with China Resources Enterprise (CRE) to create the leading multi-format retailer in China. (Release) The companies have entered into definitive agreements to combine their Chinese retail operations. The joint venture will see Tesco's 134 Chinese stores – as well as its Chinese shopping mall business – combine with [...]
City AM awards: Business of the Year nominees announced September 7, 2014 I have great pleasure in introducing the first of our shortlists for the annual City A.M. awards. As ever, the awards have attracted nominations from all sorts of diverse businesses and people who have done great things during the course of the past year, a year of recovery in the UK. We have taken on [...]
Bottom Line: Every Lidl helps: Discounters’ big future June 17, 2014 IF THE UK’s biggest supermarkets have any scraps of hope left that the discounters will soon stop nipping at their market share, they should abandon them now. Discount is set to be one of the fastest growing channels for years to come, adding €40bn (£32bn) in sales across Western Europe by 2018, according to a [...]
Tesco puts its US chain into bankruptcy September 30, 2013 TESCO put its US grocery store chain into bankruptcy yesterday as part of a plan to sell most of the 167 stores to a private equity firm led by billionaire Ron Burkle. Under the proposed sale, an affiliate of Tesco will lend Burkle’s private equity firm Yucaipa $120m to help fund the takeover of the [...]
Tesco hopes to win back sales with new items October 6, 2013 TESCO will today unveil a revamped version of its Finest range, which Britain’s biggest supermarket hopes will win over shoppers and shareholders following grim half-year results. The FTSE 100 firm, whose market share is dipping as the discount supermarkets grow, is expected to lay out 1,500 new or redesigned products ahead of the Christmas rush. [...]
What the other papers say this morning – 29 May 2014 May 28, 2014 FINANCIAL TIMES Performance comparison made easy Investors will find it easier to compare the performance of companies around the world following the culmination of a 12-year project to bring together US and international revenue reporting. Accounting regulators in the US and Europe on Wednesday published a joint standard on how companies report revenue from contracts [...]
Steve Varley: The boss doing the running for EY October 1, 2014 No celebrations for EY Britain’s boss, Steve Varley, despite a 8.6pc rise in turnover. Steve Varley, head of EY’s British arm, laughs nervously. After three years at the helm, the Yorkshireman has clear, almost PR-perfect soundbite answers to any question about the business. The one that has flummoxed him is how he and [...]