Big Four fight back: Asda, Morrisons, Sainsbury’s and Tesco report rising sales after years of stagnation January 15, 2016 Tesco became the third supermarket to reveal better-than expected Christmas results yesterday, in the clearest sign yet that the industry is staging a successful fightback against German discounters Aldi and Lidl. The so-called big four – Tesco, Sainsbury’s, Asda and Morrisons – have been battling to respond to changing shopping habits and reverse the tide [...]
Silvertown Partnership prepares shortlist for funding of Royal Docks £3.5bn scheme March 15, 2016 The developers behind the £3.5bn regeneration of Silvertown Quays in London’s Royal Docks are in talks with several investors about the next stage of funding as work on the first phase of the 62-acre scheme gets underway. The Silvertown Partnership, a consortium of developers made up of Chelsfield Properties, First Base and Macquarie Capital, are currently [...]
From faulty cars to dodgy cheese: The number of product recalls hits a record high March 14, 2016 The number of products recalled after businesses discovered a health risk or a product flaw has soared to a record high, research out today shows. Around 310 products ranging from cars to groceries were recalled in the 12 months to 31 October 2015 compared with 245 the previous year – a jump of 26 per [...]
One million retail jobs at risk from rising wages and tax costs, warns British Retail Consortium February 29, 2016 One million retail jobs could disappear in the next decade as high street shops across the country struggle to cope with drastic changes in shopping habits and rising costs. The British Retail Consortium (BRC) has warned that government policies including the new national living wage, the apprenticeship levy and rising business rates will add as much as £14bn [...]
Supermarkets abandon more schemes as pressure mounts on Sainsbury’s, Morrisons, Asda and Tesco March 8, 2016 The number of developments ditched by Britain's supermarket titans has jumped since the first half of the year, with construction and planning applications also in decline, new research shows. Property advisory firm CBRE's latest analysis of the grocery property market shows that the number of abandoned schemes rose by 13.3 per cent in the second half of 2015. Proposed projects [...]
Sainsbury’s share price drops despite beating expectations as supermarket offers more detail on possible Argos deal January 13, 2016 Sainsbury's share price dropped this morning, despite beating expectations for the crucial Christmas period – and lifting the lid on its reasons for making a bid for Argos parent Home Retail Group. The figures Total retail sales for the supermarket were up 0.8 per cent in the 15 weeks to 9 January. Including fuel, sales were down [...]
Is Tesco saved? A small victory for Dave Lewis in the supermarket’s Christmas results, but 2016 remains a challenge January 14, 2016 Tesco reported its best Christmas trading results since Dave Lewis has been at the helm but does this really mean that ‘Drastic Dave’ and his management team can breathe a little easier? The dynamics of grocery shopping has changed with value and convenience the two biggest factors for consumers. Competition has never been fiercer so it would [...]
Its share price might be on a downward slope, but here are six reasons this Old Mutual spinoff might just work March 11, 2016 Shares in FTSE 100 insurance group Old Mutual have fallen after it unveiled plans this morning to split into four separate companies – suggesting investors are less than impressed at its plans Fear not, though. There could be good reason to be optimistic about this conscious uncoupling, if past precedent is anything to go by. “The [...]
Saving with traditional banks? Shopping around to challengers like Charter Savings Bank, Aldermore, Sainsbury’s or Virgin Money could help reduce risk while increasing your reward February 29, 2016 People are saving more: according to last week's figures from the BBA, personal deposits grew 3.7 per cent in the year to January. But at a time when the base rate is frozen at 0.5 per cent and looks set to remain at record low levels well into 2017, you could be forgiven for wondering why anyone would want to increase [...]
Beware: Your energy bill could rise by £152 at the end of April if you don’t switch supplier April 18, 2016 Households will be hit with a £152 increase to their annual energy bills at the end of the month unless they switch providers, as several fixed tariffs come to an end. Of the 17 fixed deals that expire on Saturday 30 April, 11 will result in customers being automatically switched to a more expensive standard variable [...]