Asda hires new finance chief as Richard Mayfield joins Walmart November 26, 2013 ASDA has appointed a new chief financial officer after announcing yesterday that Richard Mayfield is to leave the retailer after just a year in the role to join parent company Walmart. The grocery chain said Alex Russo will join the group in January from Peruvian restaurant franchise specialist Delosi, which works with brands including Starbucks, [...]
Bottom Line: Not much room at the bottom September 17, 2013 IF APPLE doesn’t want to chase the low end of the market, there are others who do. In America, Intel has announced its chips will be inside US tablets selling below $99 by Christmas. In the UK, step forward Tesco. Next Monday’s launch is widely anticipated to reveal a Tesco tablet cheap enough to consider [...]
Argos’ MyTablet aims for mobile retail shoppers October 14, 2013 ARGOS has become the latest retailer to join the tablet market fray with the launch of its £99 MyTablet today. The release follows Tesco, which launched its own Hudl tablet on 30 September with a massive in-store advertising push. The new device is targeted at enabling customers to make further Argos purchases on the tablet, [...]
Fact or Fiction 2013 December 19, 2013 Six of these stories happened in 2013, six didn’t – can you spot the real ones? 1 Ex-Goldman Sachs-er “Fabulous” Fabrice Tourre pulled out a love letter as part of his defence during his trial in New York. 2 The Lloyd’s of London building was sold to a Malaysian firm for £300m. 3 Tesco was [...]
Cranswick’s pork and bacon in demand as half-year profits rise November 25, 2013 PORK processor Cranswick posted a 16 per cent rise in pre-tax profits yesterday thanks to strong demand for its bacon and fresh pork. The FTSE 250 firm, which makes upmarket sausages, bacon, and cooked meats for supermarkets including Sainsbury’s and Tesco, reported pre-tax profits of £26.1m in the six months to 30 September, up from [...]
Best of the Brokers for 14 November 2013 November 13, 2013 BSKYB Westhouse has given the TV group a good reception, raising its rating from “neutral” to “buy” and sticking to its 985p target. Despite the loss of Champion’s League rights, BSkyB still has strong content and attractive growth, the broker reckons. FULLER, SMITH & TURNER Numis tells investors to “add” shares in the pub chain and [...]
Bottom Line: Clarke gave investors a nasty shock but deserves more time October 2, 2013 TESCO chief executive Philip Clarke may be sticking to his guns and ruling out a European retrenchment – despite a 68 per cent drop in profits in the region – but investors are clearly sceptical. Though analysts seemed to have the fall priced in, shareholders still took flight, sending shares down as much as two [...]
Best of the Brokers for 26 September 2013 September 25, 2013 GREENCORE Numis has given food company Greencore an “add” recommendation and lifted its target price to 153p ahead of its 26 November full year report. The analyst said plus points include “the absence of the horse meat issue and possible improvement from UK cakes & desserts.” TESCO Shares in Tesco fell 3.5 per cent yesterday, [...]
Metro Bank: First London – next, the rest of the UK February 23, 2014 Metro Bank’s chairman and founder tells Tim Wallace he wants to take the Southern-focused lender out to a national audience IT HAS shaken up London’s retail banking scene, with bright new branches on busy high streets, and a bold American-style service ethos. But although Metro Bank startled the market as Britain’s first lender in more [...]
Any other business – 20/09 September 19, 2013 Market commentators were musing yesterday on the coincidence that Nomura downgraded supermarket Tesco from a ‘buy’ rating to ‘neutral’, just a day after the food superstore ended the brokership relationship between the pair. While Nomura insisted to The Capitalist yesterday that the brokerage was a completely separate part of the firm and the incidents were [...]