Morrisons sets date for online grocery service November 21, 2013 MORRISONS is to begin delivering groceries to online customers in Warwickshire from January before eventually reaching Londoners’ doorsteps this summer, as the supermarket plays catch-up with rivals. Speaking to investors yesterday at a salmon-packing factory in Stratford, chief executive Dalton Philips unveiled how it plans to lure customers away from competitors’ long established online businesses. [...]
Asda sales ahead despite profit warning from owner Wal-mart August 14, 2014 ASDA is outperforming its leading supermarket rivals in the battle for customers’ loyalty after reporting a 0.5 per cent increase in like-for-like sales in the second quarter. The US-owned chain was the first of the big four to take action against the discounters by cutting its prices when it pledged in November to invest £1bn [...]
What is the internet of things? August 18, 2014 There’s a new wave of technology entering our daily lives and its impact will turn them upside down. The internet of things is predicted to cause the same disruption to society as the transformational impact of the printing press in the 15th Century and the internet-induced information revolution in the late 20th Century. [...]
Dividend fears hit Tesco shares July 22, 2014 SHARES in Tesco slumped nearly four per cent yesterday on fears that dividends could be cut as analysts called for a complete overhaul in strategy under its new chief executive. JP Morgan analysts said Unilever director Dave Lewis, due to take over from Philip Clarke in October, would have to reset its UK margins from [...]
Zeta Petroleum looks to London for second part of a dual listing July 27, 2014 ZETA Petroleum today becomes the latest oil and gas company to mull a London listing, as it looks to expand in Romania’s market. The company, which is already listed on Australia’s stock exchange, has stakes in three assets in Romania and sees the country as a strong platform from which to build an onshore European [...]
Sainsbury’s new boss Mike Coupe blames “perfect storm” for sales drop October 1, 2014 Sainsbury's new chief executive said that a “perfect storm” of effects had plunged sales further into the red in the second quarter as the supermarket retailer cut its full-year sales forecast and warned that it might review its dividend. In his first official trading update since taking over from Justin King in July, Mike [...]
Morrisons boss insists sales will return to growth November 7, 2013 MORRISONS’ boss Dalton Philips has insisted that like-for-like sales will move back into the black over Christmas despite the supermarket chain suffering a further deterioration in trading in the third quarter. Sales at stores open more than a year fell 2.4 per cent in the 13 weeks to 3 November, at the bottom of analysts’ [...]
Ocado delivers a profit but sales growth slowing July 1, 2014 Shares in Ocado slid 4.3 per cent yesterday despite the online grocer moving into the black in the first half, paving the way for its first annual profit in its 13-year history. The company said pre-tax profits totalled £7.5m for the 24 weeks to 18 May, following a £3.8m loss last year, thanks [...]
Tesco loses market share as more than half of Brits now shop at Aldi and Lidl August 27, 2014 Tesco's rival Asda has eaten away at its market share, while more than half of Brits now shop at budget grocers Aldi and Lidl, according to Kantar Worldpanel figures. The data released this morning shows over the 12 weeks to 17 August, grocery price inflation has fallen for the 11th consecutive period and is [...]
City Moves for 20 August 2014 | Who’s switching jobs August 19, 2014 BDO The accountancy and business advisory firm has announced two appointments to its forensic accounting team. Gavin Williamson joins as a partner from Deloitte, where he specialised in complex, multi-jurisdictional fraud and corruption investigations. Cathie Cameron (pictured) joins as a director. She previously ran her own consulting business in the US, and has also held [...]