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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Kennedy Wilson and Varde buy UK shopping centres for £250m September 5, 2013 US PROPERTY investment and services firm Kennedy Wilson and debt specialist Varde Partners yesterday agreed to buy a portfolio of eight UK shopping centres out of administration for $388m (£250m). Kennedy Wilson did not disclose which shopping malls they had acquired but said they were spread across England and Scotland and spanned a total of [...]
John Lewis is set to create a new restaurant August 14, 2013 JOHN Lewis is poised to launch a new restaurant concept in a move to diversify its catering range and attract more customers into its department stores. Chief executive Andy Street said while John Lewis’ restaurants and cafeterias were profitable and provided good quality, “middle of the road” food, they were not “cutting edge” brands. “There [...]
London Report: UK data to show the economy in healthier state September 29, 2013 EXPECTED improvements in the purchasing managers’ index (PMI) data for manufacturing, construction and services this week should all point to further signs of the UK’s economic growth. “The purchasing managers’ surveys are expected to show further robust growth in September across the services, manufacturing and construction sectors which would bode well for hopes that GDP [...]
John Lewis is set to create a new restaurant August 11, 2013 JOHN Lewis is poised to launch a new restaurant concept in a move to diversify its catering range and attract more customers into its department stores. Chief executive Andy Street said while John Lewis’ restaurants and cafeterias were profitable and provided good quality, “middle of the road” food, they were not “cutting edge” brands. [...]