Tesco raises £950m from sales July 7, 2010 Tesco, Britain’s largest supermarket chain, has raised £950m after agreeing a sale-and-leaseback arrangement for 41 of its stores. The company said the move was part of its long-term plan to “release value” from its UK real estate portfolio. The deal is structured as a 50/50 joint venture with the trustees of Tesco’s pension fund, and [...]
Analyst views: What is the outlook for retailers’ figures this week? January 9, 2011 NICK BUBB | ARDEN “The resilience of trading at the premium end of the High Street, as evidenced by John Lewis, is still striking. Investors can’t buy shares in John Lewis, but they can buy shares in M&S, which is the best proxy for the strength of middle-class spending on food and clothing.” KEITH BOWMAN [...]
Sainsbury’s sales beat Christmas forecasts January 12, 2011 Strong sales of premium groceries and non-food ranges like clothing helped J Sainsbury to report a rise in Christmas sales which analysts expect will be the best among the top four grocers. Britain’s third-biggest supermarket group, which trails market leader Tesco and Wal-Mart’s Asda in terms of annual sales, said on Wednesday sales at stores [...]
Tesco’s accounting methods in spolight June 30, 2010 TESCO yesterday saw its shares dip after Citigroup accused it of “consistently aggressive” accounting. Britain’s biggest grocery chain is using a different method from its rivals on everything from depreciation to pensions, an analyst claimed. Citigroup’s Alastair Johnston said: “If we put Tesco on more comparable accounting to other companies in our sector, it appears [...]
Tesco’s accounting methods in spolight June 30, 2010 TESCO yesterday saw its shares dip after Citigroup accused it of “consistently aggressive” accounting. Britain’s biggest grocery chain is using a different method from its rivals on everything from depreciation to pensions, an analyst claimed. Citigroup’s Alastair Johnston said: “If we put Tesco on more comparable accounting to other companies in our sector, it appears [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 27, 2011 FINANCIAL TIMES POLICE TARGET “HACKTIVISTS” An online “hacktivist” group that brought down the websites of perceived opponents of WikiLeaks has itself become the target of an international police crackdown. The London Metropolitan Police arrested five men in connection with a recent spate of attacks by Anonymous, behind last month’s revenge assault on the websites of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 27, 2011 FINANCIAL TIMES POLICE TARGET “HACKTIVISTS” An online “hacktivist” group that brought down the websites of perceived opponents of WikiLeaks has itself become the target of an international police crackdown. The London Metropolitan Police arrested five men in connection with a recent spate of attacks by Anonymous, behind last month’s revenge assault on the websites of [...]
The ex-butcher who knows how to cut it fine January 24, 2011 HAVING started his career in a butcher’s shop in Wolverhampton, Ranjit Singh Boparan has a lifetime of experience in food firms – and knows how to cut things fine. Boparan’s £342m bid for Northern came two hours after the Takeover Panel’s original deadline of 5pm on Friday, after he negotiated a last-minute extension with the [...]
FTSE dips as banks come under pressure February 8, 2011 The FTSE 100 dipped this morning despite strong results from Xstrata and BG Group. The index has gained in four out of the last five trading sessions – regularly surpassing the 6,000 barrier, but banking stocks were among the poorest performers today. Commodities dipped as the price of copper came down after a record high [...]
THE TIPSTER February 6, 2011 WITH uncertainty continuing over the situation in Egypt, bearish investors are coveting the safe haven assets once again. After retreating from the $1,400 level at the start of the year, gold is now creeping higher but with no signs of further contagion in the geopolitical sphere, the risk aversion stance could arguably be seen as [...]