Morrison’s gets its man with hire of ex-Wal Mart executive January 27, 2010 WM MORRISON has appointed Dalton Philips, a former Wal-Mart executive, as its new chief executive, ending months of speculation over who would succeed Marc Bolland. Philips is chief operating officer of Loblaw, Canada’s largest grocer with 1,000 supermarkets nationwide and a turnover of £18bn. He previously ran the Irish department store group Brown Thomas. The [...]
BEST OF THE BROKERS January 25, 2010 HMV Numis has cut its forecasts on HMV and shifted its recommendation to “hold” despite the retailer’s Christmas trading update which was in line with market expectations. Numis said the decline in HMV’s sales categories along with its growing fixed cost base meant the potential for profitability to evaporate was clear. PETROPAVLOVSK Canaccord Adams has [...]
Sainsbury’s in festive feast as sales rise January 7, 2010 J SAINSBURY was given a festive boost with sales rising by 3.8 per cent as shoppers snapped up food and drink for Christmas. The like-for-like sales figures at Britain’s third largest supermarket chain, revealed yesterday, beat the forecasts of City analysts who had predicted a 3.5 per cent gain. Sainsbury’s slashed prices on its beer, [...]
New Look hails strong Xmas January 7, 2010 BUDGET fashion chain New Look yesterday said it was undecided on a return to the stock market as it reported strong Christmas trading. Like-for-like sales in the UK grew 5.9 per cent in the 14 weeks to 2 January, while total turnover including overseas operations was up 14.4 per cent. The “disposable fashion” group, backed [...]
Carpetright sales slow on snow chaos February 3, 2010 Carpetright, Britain’s biggest floor coverings retailer, saw sales growth slow in the three months to January, missing forecasts as trade in the early part of 2010 was hit by heavy snow and sub-zero temperatures. The firm’s stock fell three per cent to 943p, making it the top midcap loser, though chairman and chief executive Lord [...]
The grocer who says this year will test retailers as well as shoppers May 31, 2010 Much like the rest of the country, the chief executive of the country’s third largest supermarket group is trying to make up his mind about the coalition government. At the start of the election campaign Sainsbury’s boss Justin King was one of many who backed Tory plans to scrap national insurance hikes for employers, a [...]
Retail sales fall dampens hopes of festive boost December 17, 2009 The Christmas shopping season has got off to a slow start, with retailers reporting a fall in sales volumes in November, dampening hopes of a bumper festive period on the high street. Figures from the Office for National Statistics (ONS) showed that retail sales volumes unexpectedly fell by 0.3 per cent in November. Department stores [...]
Retail sales fall dampens hopes of festive boost December 17, 2009 The Christmas shopping season has got off to a slow start, with retailers reporting a fall in sales volumes in November, dampening hopes of a bumper festive period on the high street. Figures from the Office for National Statistics (ONS) showed that retail sales volumes unexpectedly fell by 0.3 per cent in November. Department stores [...]
Burberry smashes sales forecasts January 18, 2010 BURBERRY sales soared by 12 per cent in the three months to the end of the year – well above forecasts. The company took £380m over the period as it stripped out unprofitable lines and kept a tighter control on stock. Wholesale revenue – which comes from department stores that stock the group’s trademark red, [...]
M&S sales rise but Waitrose wins day January 6, 2010 MARKS & Spencer yesterday reported a rise in sales for the three months to Christmas but warned of a tough year ahead. The retailer saw like-for-like sales rise by 0.8 per cent with record takings on food on 23 December. Food sales overall were 0.4 per cent up on the previous year with general merchandise [...]