Best of the Brokers for 22 April 2014 April 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO HSBC cuts its forecasts on the supermarket by 11 per cent for this year as UK like-for-like sales and margins appear to be sliding further, and has advised Tesco to consider withdrawing from parts of Europe. The broker keeps its “underweight” rating [...]
Abandon your prejudices and drink rosé this summer July 29, 2014 It’s high summer and that can only mean one thing: death by rosé. At the barbecues and on the patios of England, pink wine is being served by the gallon. We all smile politely and neglect to tell our hosts that most of it is barely drinkable. Like others I have always been a rosé [...]
…as Tesco plans China venture after profits fall October 2, 2013 BRITAIN’S biggest supermarket chain Tesco is pinning its hopes on a new joint venture in China after reporting a sharp slump in European profits and flat UK sales in the first half. Trading profits in Europe collapsed by 69 per cent, dragging Tesco’s overall profit before tax down by 24 per cent to £1.39bn. In [...]
Tesco enters the tablet market with £119 Hudl September 23, 2013 GROCERY giant Tesco unveiled its first foray into the consumer electronics market yesterday with the £119 Hudl tablet. Tesco said launching a tablet is an important step, “meeting the 21st century needs of customers”. The tablet’s price point missed analyst’s expectations, coming in above the £99 that was predicted last week. While the launch will [...]
Tesco hit by ratings warning as it unveils refreshed luxury range October 7, 2013 TESCO yesterday relaunched its Finest range of luxury produce, though the redesign was not enough to stop a debt rating warning from Moody’s last night. The supermarket, which spent tens of millions of pounds and the better part of a year on the redesign, has recently lost out on UK sales growth to both the [...]
B&M Retail bags £1.1bn to buck market gloom June 12, 2014 B&M RETAIL yesterday shook off the gloom in the new issues market to debut the biggest stock market flotation in London since Royal Mail. The budget chain, chaired by former Tesco boss Sir Terry Leahy, raised £1.1bn by selling 40 per cent of the company to City investors. Shares rose in informal trading to close [...]
China meat scandal: Why consumers are turning on Western fast food brands July 23, 2014 TRUST lies at the heart of any company’s reputation, but its importance is amplified when the product being delivered is food. This is the hard truth facing the likes of Starbucks, Yum Brands – owner of KFC – and other leading Western fast food retailers, which have all pulled products from their outlets, after allegations [...]
How BHS’ food offerings could unseat Asda and Morrisons March 24, 2014 Sir Philip Green has come knocking at the major supermarkets’ door with plans to launch the first trial food outlet within a BHS department store this week. The retail tycoon, who is eyeing around 150 openings, aims “to be competitive” within the convenience food sector and undercut the big four by around 10 per cent [...]
Barclays fears Amazon and Google threaten traditional banks June 10, 2014 Customers will soon use tech firms like Amazon, Google and PayPal instead of banks, Barclays’ chief Antony Jenkins said today, promising to innovate more to compete with digital giants. The sector is already being shaken up by new banks being established, and big firms like Tesco offering current accounts. But Jenkins believes the [...]
Tesco tipped to unveil budget tablet device September 17, 2013 TESCO, the UK’s largest grocer, is expected to unveil a tablet next Monday – its first foray into the consumer electronics space – which could be aimed at cementing customer loyalty as the retail giant moves sales online. The device is expected to be a 16GB tablet device with a seven inch screen. It is [...]