Rosy results for Sainsbury’s with increased sales, stores and new mobile service October 2, 2013 Sainsbury's has reported strong sales which have delivered continued outperformance, with total sales for the second quarter up five per cent (4.6 per cent excluding fuel). (Release) Like-for-like sales for the same period were up 2.1 per cent (2.0 per cent excluding fuel), with total sales for the first half of 2013 coming in up [...]
Profits plummet one third for top UK businesses August 18, 2013 DESPITE a rise in revenues, some of the UK’s top companies saw profits plunge in the year to March, slumping by a total of 33.8 per cent in comparison to 2012. In the 12 months up to the end of the first quarter, 62 of the country’s biggest firms earned £16.6bn in profit after tax, [...]
Beat the competition to golden accelerator and incubator places September 22, 2013 But picking the right fit for your company is vitally important THE THRIVING London startup scene is set for another boost. Microsoft recently announced plans to launch a new gaming-focused accelerator programme, while Tesco is due to fund the Rainmaking Loft – a tech incubator in St Katherine Docks. Incubator programmes provide startups with business [...]
RBS bidders at war over bank branches sale August 20, 2013 THE WAR of words between investors vying to buy 316 RBS branches intensified yesterday as the groups tried to discredit their opponents. W&G Investments’ Andrew Higginson claimed his is the only viable bid, while John Maltby, from the consortium including Corsair, argues he is in a better position to move ahead. Former Tesco Bank boss [...]
The end of the rental shop October 30, 2013 As Blockbuster goes into administration again, Alex Dymoke looks to the future of online TV and film rentals BLINKBOX WHAT IS IT? Founded in 2006, Blinkbox is now owned by Tesco. It allows you to rent or buy films and TV shows online, which expire after 30 days. WHAT’S ON IT? The latest film and [...]
Card firms on hook for £1.3bn mis-selling bill August 22, 2013 THIRTEEN of Britain’s biggest lenders yesterday unveiled plans to repay consumers £1.3bn for mis-selling credit card protection products. Seven million customers bought the products which came from CCP and were sold through high street lenders and retailers. They either provided loss protection already covered by the bank, or were misleadingly advertised. If customers bought card [...]
Asda still set to expand even as revenues slow August 15, 2013 ASDA, Britain’s second largest supermarket, said yesterday that it would continue to carry out an “aggressive” growth strategy building more stores, as it reported a slowdown in second quarter like-for-like sales. Grocers like Tesco have called an end to an era of rapid growth known as the “space race”, turning their attention instead to online, [...]
Tesco poised for dramatic exit from US December 4, 2012 TESCO is likely to close its US franchise, Fresh & Easy, pending a strategic review of the lossmaking business. Chief executive Philip Clarke will announce the review today alongside the retailer’s quarterly results, and will make a decision on the venture by April. Fresh & Easy has failed to turn a profit in its five [...]
Every little helps as Tesco boosts FTSE December 5, 2012 Tesco proved that every little helps by assisting the FTSE to a healthy rise in early trading. The supermarket group admitted last night that it is considering giving up on its struggling US venture, exciting investors who have grown exasperated with the company’s inability to transfer its success to the other side of the Atlantic. [...]
King of the supermarket: The long-serving boss of Sainsbury’s talks shop September 1, 2013 Justin King speaks to Elizabeth Fournier as he nears 10 years at the top of the UK’s third-biggest retailer IT’S not been an easy 2013 for Britain’s supermarkets. From January’s discovery of horsemeat in the UK food chain to the disastrous collapse of a Bangladeshi clothing factory in April, retail bosses have been forced to [...]