Tesco chief Leahy to retire June 8, 2010 TESCO chief executive Sir Terry Leahy has announced that he will retire in March after 14 years leading the company. Unveiling its succession plan the retail giant said IT director Philip Clarke, 50, would take over. Leahy will be 55 when he gives over the reins of the company. Clarke is also currently responsible for [...]
Leading firms to pledge jobs January 9, 2011 TOP British business leaders will today pledge to create thousands of jobs in the UK. The heads of leading British firms will meet today with Prime Minister David Cameron at Downing Street to discuss job creation in the private sector. Representatives from supermarket giants Asda, J Sainsbury, Tesco and Wm Morrison will join Marks and [...]
Prices to go up after VAT rise squeeze January 4, 2011 RETAILERS may be promising to bear the brunt of the VAT rise but consumers will be hit by higher prices over time, experts said yesterday. Large retailers such as Tesco, Marks & Spencer and Sainsburys have rushed to promise consumers they will not bear the burden of the tax rise from 17.5 to 20 per [...]
Tesco growth falters on low food inflation June 15, 2010 TESCO, the UK’s biggest supermarket, yesterday said stalling levels of food price inflation had put the brakes on its sales growth for the first quarter of the year. Like-for-like sales in the UK, adjusted for VAT, inched up just 0.1 per cent over the three months to the end of May, excluding sales of petrol. [...]
Tesco on special offer after being oversold June 14, 2010 TESCO share prices tumbled to 397p last week after the announcement that chief executive Sir Terry Leahy was to step down after 14 years at the helm. Sales data released today is expected to be lacklustre, and combined with an expected weak consumer environment in the UK, Tesco’s margins in the near future look vulnerable [...]
Tesco on special offer after being oversold June 14, 2010 TESCO share prices tumbled to 397p last week after the announcement that chief executive Sir Terry Leahy was to step down after 14 years at the helm. Sales data released today is expected to be lacklustre, and combined with an expected weak consumer environment in the UK, Tesco’s margins in the near future look vulnerable [...]
Tesco is a better pick than Sainsbury’s June 13, 2010 THOSE looking for proof the UK is going to bump along the bottom for a while before making a convincing exit from recession need only look at this week’s supermarket sales figures. Now the comparatives are beginning to get tougher, things are looking decidedly lacklustre. Analysts at RBS reckon J Sainsbury will report flat UK [...]
Tesco is a better pick than Sainsbury’s June 13, 2010 THOSE looking for proof the UK is going to bump along the bottom for a while before making a convincing exit from recession need only look at this week’s supermarket sales figures. Now the comparatives are beginning to get tougher, things are looking decidedly lacklustre. Analysts at RBS reckon J Sainsbury will report flat UK [...]
What the other papers say this morning January 4, 2011 FINANCIAL TIMES BOND SURGE ON BOTH SIDES OF THE ATLANTIC AS COMPANIES VIE FOR FUNDS Companies have embarked on an early-year rush to issue debt in an effort to beat rivals and secure financing before any rise in borrowing costs.The surge in bond issuance on both sides of the Atlantic on Tuesday came as equity [...]
RECKITT BENCKISER APPOINTS CFO November 23, 2010 RECKITT Benckiser has named Liz Doherty as its new chief financial officer (CFO). She will join in January and have a period of handover with Colin Day, the outgoing CFO. Doherty was CFO at Australia’s Brambles Industries for two years and before that group international finance director at Tesco.