John Lewis Group warns of lower profits for 2015 due to higher pension costs September 10, 2015 The John Lewis Partnership has warned of lower profits this year on the back of pension charges and low price inflation. The figures John Lewis reported a 1.9 per cent increase in revenue to £4.5bn for the first half of the year ending 1 August against the same period last year. Like-for-like sales were down [...]
Lidl by Lidl, the discounters are still on the rise – Bottom Line August 27, 2014 Fresh data, but no fresh hope for the mid-market grocers. Tesco dropped its market share to 28.8 per cent in the 12 weeks to 17 August, down from 30.2 per cent last year. Sainsbury’s also edged down. By contrast, premium player Waitrose grew its market share to 4.9 per cent – and its take at [...]
Asda promises turnaround after sales hit rock bottom August 19, 2015 ASDA chief executive Andy Clarke insisted that the company was seeing the first “green shoots” of a recovery despite revealing its worst ever quarterly result in the 16 years it has been owned by US chain Wal-Mart. The supermarket chain, which recently lost its position as Britain’s second-largest food retailer to Sainsbury’s, said like-for-like sales [...]
Aldi gives us a Lidl bill of the week for Christmas #FestiveFeast with chef Jean-Christophe Novelli November 24, 2014 The Cotes du Rhone and Riesling were free-flowing at terribly trendy Home House members club last night, but it wasn’t serving its usual crowd. Discount supermarket warrior Aldi was hosting its #FestiveFeast, along with celeb chef Jean-Christophe Novelli – serving a five-course Christmas meal to a room full of customers who won their seats [...]
Tesco AGM: Lewis grilled over pay, performance and strategy but all resolutions passed June 26, 2015 Tesco bosses faced a grilling by shareholders today, fending off complaints about customer service, overall strategy and – of course – pay. But by the end of the AGM it was clear the supermarket's shareholders weren't revolting – at least not as much as some thought they might be. All of Tesco's resolutions, at least [...]
Tesco first half results: Analysts question whether “Drastic Dave” Lewis has been drastic enough October 7, 2015 Tesco may have beaten expectations for UK sales in the first half of this year, but analysts are warning that the troubled supermarket still has a long way to go if it is to shrug off the many problems facing the UK's biggest retailer. Tesco's profits fell 55 per cent in the six months to 31 [...]
Bill of the Week (It’s Back!): Lidl’s lavish V&A dinner August 28, 2014 Bill of the Week is coming out of retirement for a special appearance today. But contrary to its predecessors, which regularly toted up the price of umpteen bottles of Krug and countless Grey Goose martinis, this bill is all about frugality. One might call it a really Lidl bill. One of our roving reporters [...]
Bargain Booze and Wine Rack owner Conviviality Retail suspends trading after takeover talks with Matthew Clarke confirmed July 9, 2015 Trading in Aim-listed group Conviviality Retail has been suspended this morning, after confirming it is in takeover talks with Matthew Clark Holdings. Shares have been suspended because if the sale goes through it would constitute a reverse takeover under Aim rules, meaning privately-owned wholesaler Matthew Clark could become a public company without going through [...]
From Ed Miliband to Martin Winterkorn: These are 2015’s biggest people moves December 18, 2015 From politicos to business nerds, it's been a busy year for people-watchers of all ilks, as the mighty fell. Whether you were more interested in the surprise departure of Barclays chief executive Antony Jenkins, or the many u-turns of Ukip leader Nigel Farage, here are the biggest people moves this year. 1. Mack the Knife's reign [...]
Christmas just got tougher for Tesco, Sainsbury and Morrisons: Lidl adds “discount” oysters to its deluxe range November 21, 2014 In a year dominated by the rise of the discount grocer, it's perhaps no surprise that Lidl and Aldi will be pulling out all the stops to bring consumers a bit of low-cost luxury. Lidl, which launched a £5 lobster in 2009, has a track record of doing exactly that but this year it's pulling [...]