ARE YOU ENCOURAGED BY TESCO’S UPBEAT OUTLOOK? October 6, 2009 RICHARD HUNTER HARGREAVES LANSDOWN “By definition Tesco comes with high expectations and these numbers have resulted in something of a hung jury. Whilst the well flagged strategy of expanding overseas is intended to offset an increasingly saturated UK marketplace, this comes at a cost.”TONY SHIRET CREDIT SUISSE “UK trading profit was £1,155m which was slightly [...]
ARE YOU ENCOURAGED BY TESCO’S UPBEAT OUTLOOK? October 6, 2009 RICHARD HUNTER HARGREAVES LANSDOWN “By definition Tesco comes with high expectations and these numbers have resulted in something of a hung jury. Whilst the well flagged strategy of expanding overseas is intended to offset an increasingly saturated UK marketplace, this comes at a cost.”TONY SHIRET CREDIT SUISSE “UK trading profit was £1,155m which was slightly [...]
Supermarket boom will continue April 19, 2010 WHILE retailers on the high-street have been struggling with adverse weather conditions and consumers cutting back on spending during a downturn, their supermarket counterparts have been going from strength to strength. Giant grocer Tesco has seen its share price rise 10 per cent over the past six months and today’s full-year results are expected to [...]
Asda May 27, 2010 GET ready to slap the change in your back-pocket and shout “that’s Asda Price”: Britain’s number two supermarket has been on a spending spree. At first glance, the £778m that Asda has shelled out for 193 Netto stores looks pricey. The Wal-Mart subsidiary is paying £504 per square foot, mostly for units that are in [...]
Wiseman milking the profits May 17, 2010 ROBERT Wiseman Dairies has reported a jump in full-year pre-tax profits of 60 per cent to a record £49.2m. The firm said the results had been boosted by a rise in cream prices and a £1.9m cut in a fine imposed by the Office of Fair Trading (OFT). Meanwhile, Alan Wiseman has announced he will [...]
Clarke to become chief executive at Asda while Bond steps up to chairman May 11, 2010 CHIEF operating officer of Asda, Andy Clarke, has been appointed to the role of chief executive and president of the US-owned supermarket. His promotion follows last month’s announcement by Andy Bond that he would step up to become part-time chairman at the retailer. Clarke joined Asda in 1992 but left in 2001 for roles at [...]
THE TIPSTER May 26, 2010 TESCO has pulled back from its high of 454.9p at the end of April but has also bounced back from its decline to the 38.2 per cent Fibonacci retracement level. Look to purchase below £4 with a stop at £3.85. WorldSpreads offers a rolling spread on Tesco of 397.2p–398p. There’s been no shortage of volatility [...]
Andy Clarke set to land Asda chief executive role May 6, 2010 ASDA is tipped to promote its chief operating officer, Andy Clarke, to the top job next week following chief executive Andy Bond’s decision to step aside. Clarke is understood to have been selected ahead of several internal candidates including Darren Blackhurst, Asda’s punchy trading director. Blackhurst has now resigned after five years at the Wal-Mart [...]
FTSE sunk by BP’s oil slick woes June 8, 2010 Britain’s FTSE 100 share index fell yesterday, led down by energy shares as BP dropped again on fresh Gulf of Mexico oil slick worries and banks which were hit by Eurozone debt concerns and the threat of punitive taxes. By the close the FTSE 100 was off 40.91 points, or 0.8 per cent at 5,028.15 [...]
Tesco looks East for growth and plans new Chinese stores November 12, 2009 TESCO yesterday announced a £100m tie-up with Asian investors to build three shopping centres in China as the first stage of a larger building programme. Britain’s biggest supermarket has signed an agreement for a 50-50 venture with investors including HSBC Nan Fung China Real Estate Fund, Singapore’s Metro Holdings and Hong Kong’s Nan Fung Group. [...]