How German discounter Lidl became the UK’s fastest growing supermarket November 30, 2015 At Lidl on Clapham Road, south London, friends Raquel Zantedeschi and Beatriz Castro are doing their weekend shop together, their baskets filled with fresh produce, meat and Lidl’s own brand cheeses. Being Italian, Zantedeschi, 35, jokes that she knows her produce: “I personally come here to buy fruit and vegetables that come from Italy and [...]
The revolution will be monetised: Activist investors are closing in on a record year November 5, 2015 Activist shareholders are shaking up corporate boardrooms in record numbers as they look to exert their influence at a time of swelling company cash piles. Incidents of shareholders pushing for change in Europe have risen 126 per cent since 2010, according to data published yesterday. So far this year, the UK has been a hotbed of investor [...]
Sainsbury’s eyes dividend cuts as profits set to fall November 10, 2014 Spending cuts, including a reduction in its dividend, are tipped to be on the agenda for Sainsbury’s on Wednesday as the supermarket prepares to rein in costs along with its first-half results. Analysts expect chief executive Mike Coupe will reveal a disappointing 12.5 per cent fall in profits to £350m for the period, as the [...]
Raider Crystal Amber attracts new interest in Sainsbury’s as investor seeks to shake-up supermarket giant December 11, 2014 Activist investor Crystal Amber has been approached by more investors in the past few days interested in participating in a major shake-up of Sainsbury’s. The Aim-listed firm’s founder Richard Bernstein told City A.M. that it had held talks with several “clearly interested” parties since the weekend when it emerged that it was targeting a move [...]
Sainsbury’s share price rises on £400m bond issue November 14, 2014 Sainsbury’s has announced plans to borrow £400m through issuing a five-year convertible bond to increase its cash for refinancing. The supermarket will use the cash to refinance its £248m acquisition of the remaining 50 per cent stake in Sainsbury’s Bank it acquired back in January. The funds will also refinance of £190m convertible bonds it [...]
UK workers get a pay rise as minimum wage raised to £6.70 ahead of National Living Wage introduction October 1, 2015 One million UK workers are getting a pay rise today, as the national minimum wage has gone up by 20p. This sets the new adult rate at £6.70 per hour. Youth rates are up too, as 18 to 20-year-olds will get £5.30 and under-18s get £3.87. Another pay rise is on the way for at [...]
Christmas adverts 2015: How Germany’s Edeka Heimkommen advert has beaten John Lewis and Sainsbury’s to claim the festive crown (so far) December 8, 2015 Put your telescope away, send your cat to its bed and tear up your lottery ticket – the Christmas ads race has taken yet another unexpected turn with a new frontrunner pulling into pole position. And the intrepid hero at the helm of this two million share behemoth? A kindly old man. No, not that [...]
Danish discounter Netto opens joint venture with Sainsbury’s November 5, 2014 Discount supermarket chain Netto today makes its comeback to the UK, opening a store in Leeds in a joint venture with Sainsbury’s. Netto, which left the UK in 2010, intends to open 15 stores in a trial in the north of England, but has still to open any stores in London or the south east. [...]
Cordant Group’s Phillip Ullmann talks to Harriet Green about looking after 52,000 workers and turning teal February 1, 2016 When I met Phillip Ullmann, head of Cordant Group and employer of over 52,000 people, he had just lost his job title. It wasn’t that someone had taken it from him – rather that he’s shed it. “Job titles are nonsense. What does it mean to be an executive chair, chief executive, managing director? Titles [...]
Sainsbury’s share price falls as profits plummet 18 per cent, dividend slashed in going price war November 11, 2015 Update: Sainsbury's share price has fallen six per cent so far today, after revealing a nearly 18 per cent fall in profit, despite slashing its interim dividend by a third. The figures Sainsbury's group sales were down two per cent to £13.6bn for the 28 weeks to 26 September, while retail sales were down 0.1 per cent excluding fuel. Like-for-likes dropped [...]