Future is sweet for Nectar as it ranks top of the loyalty schemes February 7, 2010 NECTAR has become the country’s most popular loyalty scheme, with 16.8m subscribers. A staggering 50 per cent of households now swipe their Nectar card when shopping in stores and online and it has become more popular than both the Tesco Clubcard and the Boots Advantage card. Gwyn Burr, Sainsbury’s customer director, said: “Customers are increasingly [...]
Flight to quality in stores February 2, 2010 Intense competition among Britain’s top grocers has hit sales growth at smaller hard discounters Aldi and Lidl, while Asda has suffered most from recent severe weather, market researchers said yesterday. Kantar Worldpanel, the new name for TNS Worldpanel, said sales at Britain’s grocers rose 5.2 per cent in the 12 weeks to 24 January, helped [...]
Allan Leighton: the man behind Crozier’s move January 28, 2010 ITV chairman Archie Norman yesterday said he had scoured the world for a new chief executive before finally settling on Adam Crozier. But the man he eventually chose came via a more direct route, through his friendship with long-time friend and former Asda colleague Allan Leighton. Norman – chief executive and then chairman of Asda [...]
Defensive shares lift FTSE but banks and miners weak January 26, 2010 BRITAIN’S leading share index added 0.3 per cent yesterday, as support for defensive issues, and a modest early rally on Wall Street, offset weakness in heavyweight miners and banks. At the close, the FTSE 100 index was up 16.54 points at 5,276.85, snapping a four-session losing streak, having earlier reached an intraday low for the [...]
Morrison beats rivals with festive sales boost January 21, 2010 SUPERMARKET chain Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. Morrison, [...]
Morrisons to trump its retail rivals January 17, 2010 WM MORRISON supermarkets is expected to announce outstanding trading results this week as it emerges from the Christmas period outperforming its rivals. Like-for-like sales of the UK’s fourth biggest supermarket chain are predicted to have improved seven per cent on the previous year, adding to the impressive turnaround overseen by soon-to-depart chief executive Marc Bolland. Bolland [...]
THE TIPSTER January 17, 2010 Retailers have had mixed fortunes over the Christmas period. Although shoppers spent huge amounts of cash in the run-up to the festive season, not everybody has gained in the same way. Supermarkets and cheap high-street chains have out-performed – department store John Lewis recorded its best ever revenues in December. But others could not keep [...]
Banks and miners lift FTSE but retail shares take a dive January 14, 2010 STRENGTH in miners helped Britain’s top share index to a 0.5 per cent rise by yesterday’s close after soaring output figures from Rio Tinto boosted the sector, but retailers fell on weak trading updates. The FTSE 100 ended 24.72 points higher at 5,498.20 after falling for two days, pressured by China’s decision to tighten banks’ [...]
BEST OF THE BROKERS January 14, 2010 XSTRATA Investec Securities yesterday initiated coverage on what it called “the predator of the mining industry”. The broker put a “buy” recommendation on the stock, saying that looking beyond Xstrata’s M&A capabilities, the firm has excellent organic growth prospects and the best leverage of its peer group to rising commodity prices. BOVIS HOMES Panmure Gordon [...]
Tesco tills ring for Christmas with 4.9 per cent sales hike January 12, 2010 TESCO has had its best Christmas in three years after slashing prices and offering double Clubcard points to get customers through the door. Britain’s biggest supermarket chain said yesterday that like-for-like sales at its UK stores jumped by 4.9 per cent during December and early January. Tesco reported a 35 per cent surge in sales [...]