Festive gloom leaves Tesco’s stock sinking January 12, 2012 NEARLY £5bn was wiped off the value of Tesco yesterday after it issued a profit warning on the back of its worst Christmas in decades. Shares in Britain’s biggest retailer fell by 16 per cent before closing down 15.99 per cent at 323.45p. The firm shocked analysts when it said sales at British shops open [...]
Discount chains lead sales jump August 14, 2012 GROCERS enjoyed a sunny summer with sales growth almost across the board, but led by discount supermarkets, said analyst Kantar Worldpanel yesterday. Grocery sales at the UK’s main stores grew 3.9 per cent as a whole in the 12 weeks to 5 August, compared to a year earlier, reaching nearly £24bn in total. Though discounters [...]
Retail industry lays out £500m growth plans August 9, 2012 THE GOVERNMENT yesterday announced some £500m of investment in Britain’s consumer industries, as some of the sector’s largest players laid out expansion plans in the UK and overseas. Speaking at the British Business Embassy’s Retail, Food and Drink summit in London yesterday, Boots chairman Stefano Pessina said the pharmacist will expand its store estate in [...]
Tesco loses market share in run-up to Xmas January 10, 2012 Britain’s biggest retailer, lost grocery market share in the run-up to Christmas as rivals fought back against its price-cutting campaign and cash-strapped shoppers flocked to discount stores, according to new data. Market researcher Kantar Worldpanel said grocery sales rose 4.8 per cent in the 12 weeks to 25 December. That lagged a 5.9 per cent [...]
Post Office to offer mortgages across its local branch network August 9, 2012 POST Office customers will be able to pick up a mortgage alongside their book of stamps, under a pilot scheme launched yesterday. Trained mortgage advisers are now available in five of the organisation’s outlets – Birmingham, Solihull, Walsall, Luton and Norwich – to offer free consultations as part of the firm’s push to become one [...]
Supermarkets enjoy a rare lift during summer September 3, 2012 THE RETURN of the warmer summer weather together with the Olympics and the use of vouchers helped grocers enjoy their best trading performance of the year last month, in a rare bright spot amid the gloom across the rest of the retail industry. According to the latest figures from Nielsen, grocery sales in the four [...]
ANALYST VIEWS | DID SAINSBURY’S RESULTS DISAPPOINT? June 13, 2012 RICHARD HUNTER HARGREAVES LANSDOWNE Sainsbury’s rise in sales was steady but shy of expectations, with the shares reflecting a tinge of disappointment… The numbers were boosted by including the Jubilee weekend, unlike Tesco, and progress in clothing and online remained notably strong. CLIVE BLACK SHORE CAPITAL Sainsbury did continue to outperform the market and its [...]
Supermarkets hold talks with government on Sunday trading August 19, 2012 RETAILERS have been holding discussions with the government and trade bodies over the permanent relaxation of Sunday trading rules, it was revealed yesterday. Current rules limit large shops to six hours of trading between 10am and 6pm on a Sunday. This has been temporarily relaxed during the Olympics and it is thought communities secretary Eric [...]
City A.M. Awards 2012 Winners October 17, 2012 City A.M.'s third annual awards celebrating the best and brightest of London's business, financial and investment communities. Over 500 guests from 116 different firms attended the celebration, held at the Grange Hotel in St Paul's. PERSONALITY OF THE YEAR Lord CoeLocog chairman Former Olympic middle distance runner and politician Lord Coe was a clear stand-out [...]
Business world wins praise in the honours list June 17, 2012 CARPHONE Warehouse founder Charles Dunstone was the sole business leader awarded a knighthood in the Queen’s birthday honours for 2012, announced over the weekend, in a year that saw industry and economic leaders garner just 12 per cent of accolades, down more than a full percentage point from 2011. However, Sir John Parker, chairman of [...]