Poundland eyes 2014 flotation as sales surge October 1, 2013 POUNDLAND is eyeing a possible initial public offering (IPO) in the first half of next year as the private equity owners of the discount retailer look to cash in on its surging sales. The chain, which has benefitted from thrifty shoppers seeking value during the economic downturn, posted a 15 per rise in sales to [...]
Retailers set for best Xmas sales since pre-crisis October 14, 2013 BRITISH retailers are set to enjoy their best growth in Christmas sales since the financial crisis, according to a report published yesterday that forecast consumers would spend at least £2bn more than in 2012. Market research specialist Verdict predicted that spending in the fourth quarter would rise 2.2 per cent from the same period in [...]
Tesco fightback steadies giant’s market share January 29, 2013 TESCO maintained its market share and matched market growth for the first time since June 2011, according to the latest grocery share data from Kantar Worldpanel. The UK’s biggest supermarket grew sales year-on-year by 3.3 per cent in the 12 weeks to 20 January, giving it a market share of 30.4 per cent, as its [...]
Tesco cuts US jobs ahead of exit January 17, 2013 Retail giant Tesco has slashed 50 jobs at its US company Fresh & Easy as it gears up to pull out of North America. Most of the cuts are coming at its head office in Los Angeles. Tesco said: “We have cut a small number of positions in the head office as we continue the [...]
Higginson still in the running for RBS branches despite reports of bid rejection September 17, 2013 Reports that Andy Higginson's bid for RBS branches had been rejected have been denied by his consortium W&G Investments. A spokesperson said: We remain in constructive discussions with RBS about our bid. Our proposal remains the only true offer for Williams and Glyns, and offers full and certain value to RBS and its shareholders, whilst [...]
Tesco enjoys Christmas sales boost January 10, 2013 Supermarket giant Tesco this morning posted its highest UK sales growth in three years over the Christmas period, as its turnaround plan is starting to kick in. Like for like UK sales grew by 1.8 per cent in the six weeks to 5 January, driven by a strong performance from its food division and from [...]
Tesco is already bouncing back from burger debacle January 22, 2013 SUPERMARKET giant Tesco has faced a brand crisis with the revelation that it sold beef burgers contaminated by horse meat in its stores. In such situations, daily tracking of the public’s perceptions of the under-pressure brand really comes into its own. So – how quickly did the news spread and what was the impact on [...]
Aldi’s extra 1m customers help double profits September 30, 2013 DISCOUNT supermarket chain Aldi said yesterday it more than doubled its profits in the UK last year, as it lured more than a million shoppers from more upmarket rivals and grabbed a bigger share of the market. The German group, which will open its 500th UK store next month, posted a pre-tax profit of £157.9m [...]
RBS branch bidder to list on AIM to raise funds for purchase effort July 31, 2013 A PROMINENT group of investors looking to purchase 316 branches from RBS and establish a new high street bank yesterday revealed plans to list on the alternative investments market (AIM). The group, called W&G Investments wants to buy the branches which RBS must sell off under the terms of its 2008 bailout. The [...]
Clegg slammed for slapping 5p tax on supermarket plastic bags September 15, 2013 NICK Clegg’s plan for a 5p charge on plastic bags was yesterday branded unworkable, as critics said the plan was a distraction that would be difficult to enforce. The Deputy Prime Minister announced on Saturday that the policy had won coalition backing to introduce the charge in England from 2015, in an attempt to cut [...]