Morrisons (MRW) share price fell this morning after it reported strong profit and sales growth – here’s how City analysts have reacted March 9, 2017 Shares in Morrisons dipped by 4.6 per cent at the open, after the supermarket reported annual profit and sales growth for the first time in four years this morning. Turnover was up 1.2 per cent to £16.3bn, while profit before tax rose by 49.8 per cent, to £325m, signalling that chief executive David Potts' turnaround is [...]
Asda and Aldi recall white and dark rums over fears of glass fragments in bottles produced by Glen Turner Co April 14, 2016 Bottles of dark and white rums sold in Aldi and Asda have been recalled by the food and drinks watchdog over concerns the bottles may contain "small fragments of glass". The spirits producer Glen Turner Co, which supplies both supermarket chains, has recalled 70cl bottles of rum on a precautionary basis as they pose "a [...]
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 [...]
Photo-Me beams over a successful six months as investment in new areas pays off December 9, 2016 Photo-Me International is all smiles after it outperformed in its half-year results. The figures The photo booth operator’s revenue grew to £110.6m, up 19.2 per cent, or £96.5m at constant currency, up four per cent. Pre-tax profits increased 20.2 per cent to £31m, while rising to £26.9m, up 4.3 per cent at constant currency. As of October, the group had 46,760 units, up [...]
Waitrose has been crowned the UK’s best supermarket February 16, 2017 Aldi and Lidl might be snatching market share from their rivals – but one middle class stalwart is still at the top of the nation's affections, according to a new survey. The report, by Which?, has crowned Waitrose the UK's best supermarket, above rivals Marks & Spencer, Aldi and Lidl. Meanwhile, Asda came bottom of the [...]
City Moves for 13 February 2017 – who’s switching jobs? February 13, 2017 Today's City Moves cover legal eagles, hotels and a precious metal explorer. Take a look at these movers and shakers: Ashfords LLP National legal and professional services provider Ashfords LLP has appointed Jim Morris as a partner and head of the firm’s expert aviation team. Having previously worked for six years as the aviation partner [...]
Tesco’s share price climbs as it stems declines but Asda and Morrisons crowned worst performing supermarkets in the UK March 8, 2016 Tesco has continued to stem its declines, but Asda and Morrisons have tumbled further, according to Kantar Worldpanel's latest figures for the supermarket sector. Sales at Tesco fell 0.8 per cent – meaning its performance is still well below the sector average of 0.5 per cent growth – but a relative improvement on last month's decline of [...]
Asda will axe jobs in the UK as supermarket struggles continue January 18, 2016 Asda will axe jobs in the UK amid increasing pressure on British supermarkets. The redundancies will be at Walmart-owned supermarket's Leeds head office. The supermarket said in a statement: "It’s well documented that in recent years, customers have radically changed the way they shop. "We were the first of the “big four” to recognise this and [...]
Supermarkets Co-op and Asda forced to recall camembert after listeria fears February 9, 2016 Two of the UK's biggest supermarkets have been forced to issue a recall notice, over fears a brand of cheese could have listeria monocytogenes present – which can harm pregnant women and their unborn babies. The Co-operative has warned shoppers to return any of its own brand Truly Irresistible Camembert "as a precautionary measure", the [...]
UK household spending growth slows for fourth month in a row in January, Asda income tracker shows March 1, 2016 UK households enjoyed a double digit rise in their weekly spending power in January, despite growth slowing for the fourth month in a row. Asda’s latest income tracker released today shows that consumers were £12 – or 6.7 per cent – better off in January compared with the same time last year, taking their average [...]