Tesco rapped over Asda claim April 13, 2011 Supermarket giant Tesco has been reprimanded for making misleading claims about rival Asda prices. In a national press advertisement, Tesco featured a selection of fresh food products displaying their in-store prices, and those of the same or equivalent products at Asda. Tesco was hitting back at Asda’s price guarantee campaign which guarantees the price of [...]
CITY VIEWS: WOULD YOU BANK WITH TESCO? April 20, 2011 RAFE HEYDEL-MANKOO | MERCER “Yes – the ease of having the bank on site with the supermarkets makes it convenient. Also, because of its volume it has the ability to cut costs compared to other banks, which makes it attractive.” ALASTAIR GRAHAM | GARP “Yes, it has simple and straightforward products that are understood by [...]
How Tesco could shake up banking April 19, 2011 THERE is a simple way to increase competition in banking: unleash the supermarkets. Only they have the firepower, brand and distribution to grab a meaningful market share in basic retail financial services quickly. So it was heartening to hear from Phil Clarke, Tesco’s promising new boss, that boosting his banking offering is one of his [...]
Tesco profit up thanks to Asian markets April 19, 2011 Tesco said it would step up innovation in a bid to improve its performance in a tough UK market, as it met forecasts with a rise in annual profit driven by Asian markets. New chief executive Phil Clarke, who took over from Terry Leahy last month, said on he was setting six objectives for the [...]
THE TIPSTER October 2, 2011 IT is a busy week this week for retailers with Tesco and several others updating the markets with their latest trading statements. Tesco has been wobbling like an errant trolley between 355p and 385p for nearly two months now. Until this range is broken, look to sell at the top and buy at the bottom. [...]
Outsourcer Mitie sees healthy sales pipeline November 21, 2011 Outsourcing group Mitie has posted a small profit rise and said a significant bid pipeline leaves it confident of further growth, as governments and businesses seeking to cut costs sign up for its support services. Mitie, whose customers include Tesco and London’s Royal Opera House, said its pre-tax profit before one-off items for the six [...]
Tesco snaps up web movie firm Blinkbox April 20, 2011 TESCO yesterday announced the shock acquisition of video on demand service Blinkbox. The cost of the deal for 80 per cent of the firm was not disclosed but one industry source told City A.M. the price is likely to have been low, based on his knowledge of Blinkbox’s financial figures. Tesco has bought the stake [...]
Tesco profit up but UK hit by dip in sales April 19, 2011 TESCO chief executive Philip Clarke yesterday issued a six-point mission statement aimed at putting the retailer back on track after disappointing results. UK like-for-like sales excluding fuel in the fourth-quarter saw a 0.7 per cent year-on-year drop as consumers reined in their spending. Clarke, who took over from Sir Terry Leahy last month, said the [...]
THE TIPSTER December 4, 2011 WHEN Victrex reports its earnings on Tuesday, analysts are expecting revenues of around £93m, up from £75m this time last year. The maker of polymers’s shares have slid 27 per cent from their highs in July of 1,600p, but it looks like it is on the way back from lows of 1,020p. Strong gains and [...]
BEST OF THE BROKERS September 20, 2011 ANGLO AMERICAN Citi rates the mining group as “buy/medium risk” with a target price of £35, saying that pressure put on its shares by global economic concerns have left it attracitvely priced. The broker says near-term production growth should drive cash flow over the next two years. However, it has also reduced its earnings forecasts by [...]