Bottom Line: Discount retailers keep surging whatever the economic weather May 11, 2014 IT’S NOT exactly a dramatic rebirth but there are some stirrings of spring in these figures. Unsurprisingly, particularly at a time of year when the national imagination turns to home improvement, UK consumers invested even more this April in their fastest-appreciating assets than they did 12 months before, with DIY spending up 11.9 per cent [...]
Waitrose buys Good Food Guide August 5, 2013 Waitrose has bought The Good Food Guide, and insisted yesterday that the restaurant reviewing magazine will remain independent. Waitrose said its purchase, for an undisclosed sum, includes the website as well as the 63-year-old magazine. “The Good Food Guide has a loyal following among our customers and we will continue to operate it as an [...]
John Lewis pays 15pc bonus as sales beat M&S March 6, 2014 JOHN Lewis’s partners will share a reduced bonus pot equal to 15 per cent of the average staff salary as the retailer put more money aside to shore up its huge pension fund. The £202.5m bonus, which was announced to 91,000 John Lewis and Waitrose staff yesterday at stores across the country, is equivalent to [...]
Brand Index: Cheaper supermarket brands are outflanking Morrisons April 8, 2014 GERMAN discounters Aldi and Lidl continue to expand their reach in the UK at the expense of the so-called “big four” chains, with Aldi increasing its market share by more than a third. Tesco, Asda, Sainsbury’s and Morrisons have all experienced a decline in sales, though Asda has proved the most resilient and Morrisons has [...]
John Lewis slims down bonuses to 15pc as pension costs rise March 6, 2014 John Lewis and Waitrose staff will get bonuses worth 15 per cent of their salaries today – from a bonus pool of £202.5m – after getting 17 per cent last year. 2013’s bonus is equivalent to around eight weeks’ pay. The partnership spent more on servicing its pension fund last year, with the deficit increasing [...]
Ocado delivers a profit but sales growth slowing July 1, 2014 Shares in Ocado slid 4.3 per cent yesterday despite the online grocer moving into the black in the first half, paving the way for its first annual profit in its 13-year history. The company said pre-tax profits totalled £7.5m for the 24 weeks to 18 May, following a £3.8m loss last year, thanks [...]
Transport for London looks for £3.5bn of commercial revenues June 2, 2014 TRANSPORT for London (TfL) has begun searching for a new sponsor of the city’s bicycle hire scheme, hoping to bring in more money and a long-term partner following Barclays’ departure. The Mayor of London, Boris Johnson, has written to 200 of TfL’s biggest advertisers to gauge interest in sponsoring the bicycles, which were launched on [...]
Gimme 5 April 14, 2014 …STARTUPS CROWDFUNDING THIS MONTH Humble Grape Target: £250,000 for 15 per cent An existing and profitable wine merchant and events company raising funds to take the brand to the high street. Raised £308,000 via Seedrs Expires before 10 June Bikini Fling Target: £120,000 for 16 per cent Swimwear brand that enables customers to mix and [...]
Tesco share price is falling after sales plummeted again June 4, 2014 Another set of falling sales figures from Tesco this morning. The UK supermarket giant has reported a 3.7 per cent drop in like-for-like sales – 3.8 per cent when including petrol. That does mark the store’s third drop in a row but is, however, better than the four per cent decline analysts were expecting. Revenues [...]
Labour: free coffee to stay March 3, 2014 A LABOUR MP who called on his colleagues to press supermarket chain Waitrose into withdrawing its free coffee and newspaper deal for loyalty card holders has received short shrift from his own party. Andy Sawford accused the firm of taking business away from independent shops, but a Labour spokesperson put an end to the budding [...]