Morrisons boss says customers key to survival May 7, 2015 MORRISONS new chief executive David Potts said yesterday that it would take more weeks of listening to customers and staff to understand how to bring the “British underdog” back to life, as it reported a further drop in sales. In his first trading update since taking over the reins in March, Potts said he had [...]
Morrisons share price down after sales fall, despite slower rate under new boss David Potts May 7, 2015 The figures The Bradford-based retailer said that like-for-likes excluding fuel were down 2.9 per cent in the 13 weeks to 13 May. However, this was slightly less than analysts' forecasts of a decline of three per cent. Shares in Morrisons were trading down two per cent at 176.2 pence per share this morning. Why it's interesting [...]
Troubled grocer Morrisons set for FTSE 100 demotion June 1, 2015 Morrisons is facing relegation from the FTSE 100 this month, having been earmarked for demotion by the stock market's committee. The troubled supermarket, whose share price has fallen more than 15.5 per cent in a year, is the company “nearest to the 111th threshold” to enter the FTSE 250, the London Stock Exchange said [...]
As UK enters deflation, Asda boss Andy Clarke calls 2015 supermarkets’ “most challenging year yet” May 19, 2015 On the day the UK was pushed into deflation for the first time since 1962 by a dive in food prices, Asda chief executive Andy Clarke has called 2015 the "most challenging year" of the recovery for supermarkets. Read more: Analysts say deflation will not be here to stay In the supermarket's first quarter results statement [...]
Lidl goes on claret offensive with wine range to tempt wealthier Londoners July 16, 2014 Lidl is ploughing £12m into a wine range designed to attract wealthier customers away from rival British supermarket chains. The discount retailer which has flourished in recent penny-pinching times is heavily investing in the premium wine range, priced between £4.99 and £25.99, in a bid to attract middle class customers away from suffering supermarkets, the [...]
Wetherspoon is holding its own in the face of the supermarket price war May 6, 2015 It may be at a “great disadvantage” to supermarkets, but JD Wetherspoon still managed to report an increase in sales. The figures In an interim management statement, the company announced like for like sales were up 1.7 per cent in the 13 weeks to 26 April, and 3.6 per cent for the financial year to [...]
Easter “masks” wider problems in supermarket sector as price war continues to take toll on Tesco, Asda, Sainsbury and Morrisons April 10, 2015 Supermarkets experienced their first growth in spend during March – but the early Easter is “masking” the sector's problems, Nielsen claims. Sales rose 0.7 per cent for the four weeks to March 28 against the same period last year. The last time grocers saw an increase in spend was April last year, when Easter distorted [...]
Five Morrisons execs leave as Potts swings axe March 24, 2015 Five members of Morrisons' management team are on the way out, after new boss David Potts swung his axe. Group customer marketing and digital director Nick Collard, group retail director Martyn Fletcher, group property and strategy director Gordon Mowat, group logistics director Neal Austin and convenience managing director Nigel Robertson are all leaving. "I will [...]
After Zayn Malik quit One Direction Spotify experienced a massive “spike of sadness” March 26, 2015 Other than people with ears who are aged over 20, the biggest single winner of a singer quitting the world' biggest boyband is Spotify, it turns out. While fans of One Direction weep over their posters, Spotify is providing what must be the 21st Century equivalent of the telephone helpline for when Robbie Williams left [...]
Aldi and Lidl to grab more sales from supermarket stores June 30, 2014 The amount of money spent at Britain’s larger supermarket stores is set to shrink over the next five years, new figures show, as competition from discounters, convenience stores and online gathers pace. According to research released yesterday by the industry body IGD, the value of the UK grocery market is set to rise by 16 [...]