Walmart takes on Amazon in battle for Indian Flipkart with $15bn bid May 7, 2018 Walmart is set to take on Amazon to buy a stake in India’s biggest online retailer Flipkart, in a deal worth $15bn (£11.06bn). Reports today say that the American retailer will buy three-quarters of Flipkart’s shares at a valuation of just under $20bn. Sources close to the deal told the Financial Times that Walmart boss [...]
Tesco share price falls despite taking the fight to supermarket rivals with rising revenues October 3, 2018 Tesco aimed to cement its status as the UK’s largest supermarket today with rising revenue and operating margins as it fights off competition from merging rivals and cheaper competitors. However, shares fell more than seven per cent in morning trading as the retailer missed a key profit metric. The figures The retail giant posted a 13 [...]
Tesco reports 10th consecutive quarter of sales growth as Booker deal boosts prospects June 15, 2018 Tesco today reported rising like-for-like sales for the 13 weeks ended 26 May, marking the 10th consecutive quarter of positive growth. The supermarket stalwart said like-for-like sales in the UK were up 2.1 per cent, while like-for-like sales in Booker soared by 14.3 per cent. Tesco said that was driven by "a strong underlying performance [...]
Tesco reports 10th consecutive quarter of sales growth as Booker deal boosts prospects June 15, 2018 Tesco today reported rising like-for-like sales for the 13 weeks ended 26 May, marking the 10th consecutive quarter of positive growth. The supermarket stalwart said like-for-like sales in the UK were up 2.1 per cent, while like-for-like sales in Booker soared by 14.3 per cent. Tesco said that was driven by “a strong underlying performance [...]
Aldi knocks Waitrose off supermarket top spot while shoppers turn to Iceland and Ocado for online groceries February 12, 2018 Aldi has knocked Waitrose off the top spot as the UK’s favourite supermarket for in-store shopping. Customers rated their experience at the budget retailer as best in Which?’s annual survey. Last year’s most popular supermarket Waitrose fell to fourth-highest, below Marks & Spencer and Lidl. Respondents rated Aldi’s value for money very highly, and were [...]
Ocado’s warehouse robots help it boost third quarter revenue September 18, 2018 Online grocer Ocado today revealed rocketing revenue in its third quarter, driven by a growth in orders and improved capacity at its robotic warehouses. The figures It grew revenue by 11.5 per cent to £348.6m in revenue over the three months to the start of September. Read more: Asda to end price guarantee scheme in [...]
Ocado’s warehouse robots help it boost third quarter revenue September 18, 2018 Online grocer Ocado today revealed rocketing revenue in its third quarter, driven by a growth in orders and improved capacity at its robotic warehouses. The figures It grew revenue by 11.5 per cent to £348.6m in revenue over the three months to the start of September. Read more: Asda to end price guarantee scheme in [...]
Police seize bitcoins from criminal hacker in first case of its kind May 25, 2018 Police have seized around half a million pounds worth of bitcoin from a “prolific” hacker in the first case of its kind for the Met. Grant West was responsible for attacks on more than 100 companies worldwide, obtaining the financial data of tens of thousands of people though phishing scams, which he would then sell [...]
Berry Bros & Rudd boss Dan Jago interview: Uncorking Britain’s oldest wine merchant September 3, 2018 The flagship shop of Berry Brothers & Rudd has remained unchanged for over 300 years. Famous customers, from Byron to Churchill, have stepped through the doorway and left St James’s Street behind for a wood-panelled room replete with bottles of top-notch plonk. In the back room, one of the walls has been repurposed after previously [...]
Retail job losses could number 15,000 as industry strains under cost pressures March 1, 2018 At least 15,000 retail sector jobs have either been slashed this year or are now at risk as household names sink into administration, according to calculations by City A.M. Toys R Us and Maplin went into administration yesterday, putting more than 5,500 jobs in doubt. The double-whammy for the industry comes after fashion chain East [...]