Sainsbury’s sales hit by slowing growth March 24, 2010 SAINSBURY’S has reported its smallest rise in underlying quarterly sales in almost five years. Britain’s third biggest grocery chain said stores open at least one year rose 1.7 per cent, excluding fuel, in the fourth quarter. That was down from 3.7 per cent in its third quarter and the smallest rise since the first quarter [...]
Sainsbury’s sales growth at five-year low March 24, 2010 SAINSBURY’S has reported its smallest rise in underlying quarterly sales in almost five years. Britain’s third biggest grocery chain said stores open at least one year rose 1.7 per cent, excluding fuel, in the fourth quarter. Sales rose 3.7 per cent in the third quarter but a slowdown in price inflation and economic uncertainty before [...]
THE TIPSTER March 21, 2010 THIS week the focus will be on Wednesday’s Budget and its political ramifications for the upcoming general election. The Labour Party will have been given a boost by last week’s encouraging public finances and Lloyds Banking Group’s announcement on Friday that it expects to turn a profit this year. But is it too little, too [...]
FTSE gains limited by the Budget March 21, 2010 EUROPEAN stock markets are headed for a positive start to the week, with the FTSE set to continue its current winning streak after closing at its highest level since June 2008 on Friday. However ahead of the pre-election Budget on Wednesday, any further gains are likely to be moderate. GFT is forecasting the UK’s FTSE [...]
Sainsburys says 2010 bonus acceleration is fair March 14, 2010 J SAINSBURY has denied reports it is to bring forward bonus payments for all staff in order that its top earners can avoid paying the top rate 50 per cent tax which comes into effect on April 6. The move will improve the earnings of the company’s top 1,200 employees, including chief executive, Justin King, [...]
Tesco hires new clothing chief March 10, 2010 TESCO has hired the former head of non-food at J Sainsbury in a bid to revive its £1bn clothing business. Richard Jones will replace Terry Green as Tesco’s clothing chief – running the clothing business in the UK, as well as taking charge of its home furnishings division. Green, whose five-year contract for Tesco is [...]
Rose: Cut UK deficit as soon as possible March 9, 2010 SIR Stuart Rose yesterday said the next government should cut public spending sooner rather than later, in comments that appeared to back Tory plans. And the executive chairman of Marks & Spencer said consumers were well-prepared for a period of fiscal tightening to reduce the UK’s yawning £178bn budget deficit. “Our customers, Tesco’s customers, Sainsbury’s [...]
Oil and minerals bolster FTSE index despite banking and drugmaker lows March 8, 2010 BRITAIN’S top share index hit an 18-month closing high yesterday, led by oil stocks and miners, while drugmakers fell with AstraZeneca pressured after its cancer drug failed in trials. The FTSE 100 ended up 6.96 points, or 0.1 per cent, at 5,606.72, its highest close since 2 September 2008. The index gained 4.6 per cent [...]
Donations to Tories dwarf Labour February 24, 2010 THE Tories will fight the next election with a huge war chest of cash, after raking in twice as much as Labour in donations. David Cameron’s party reported donations totalling £10.5m in the last three months of 2009, dwarfing the £4.9m raised by Labour. Sir Nigel Doughty, founder of private equity house Doughty Hanson & [...]
GOING BANANAS February 15, 2010 SUPERMARKET giant J Sainsbury has become the world’s largest stockist of Fairtrade products, raking in almost one in every four pounds spent in the UK on the social enterprise goods. Annual sales from 800 Fairtrade products stocked in the group’s stores rose around 10 per cent this year, up to £218m. The total included a [...]