Fast & furious September 28, 2010 IT’S ALWAYS a little strange when you get the impression you’re driving a Ferrari when you’re really hitting 40mph in a small hatchback. Powering along the north Kent coast in the Fabia vRS, towards a particularly excellent gastro pub, the car shrieked and howled so loudly you’d think there was a V12 under the bonnet. [...]
Waitrose to take Tesco head on in price contest September 26, 2010 WAITROSE is to take Tesco head on after the supermarket giant revealed that it will price match its rival on over 1,000 branded products. Starting today, Waitrose will use Tesco as a benchmark when pricing its top-selling everyday branded products, such as Persil, Ribena and Heinz Baked Beans. Managing director Mark Price said this is [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 22, 2010 FINANCIAL TIMES SIEMENS PROMISES WORKERS JOBS FOR LIFE Siemens’ German workers have struck a deal that will see their jobs secured indefinitely, in an arresting move that highlights how the financial crisis has triggered a fresh consensus between labour and management in corporate Germany. The engineering group said it had sealed an agreement with its [...]
John Lewis in recovery as its profit rises September 16, 2010 JOHN Lewis warned yesterday that trading conditions were likely to get tougher as tax hikes and public spending cuts hit shoppers, even as it reported a 28 per cent rise in first-half profit. The group, owned by its 70,000 staff, said its strong first-half performance gave it confidence that both its department stores and grocery [...]
John Lewis sees £111m profit but warns over headwinds September 16, 2010 John Lewis said trading conditions would likely get tougher as tax hikes and public spending cuts hit shoppers, as it reported a 28 per cent rise in first-half profit. The group said its strong first-half performance gave it confidence that both its department stores grocery chain Waitrose would cope well. “Despite the economic headwinds, and [...]
Ocado sales surge but investors wary September 7, 2010 ONLINE retailer Ocado yesterday said its sales had surged by almost 30 per cent – but investors remained unconvinced and the announcement was greeted with a dip in its share price. The company, which recently completed a controversial flotation, hasn’t made an annual operating profit since it launched ten years ago, but hopes to go [...]
Ocado sales surge by 30pc after flotation September 7, 2010 ONLINE grocer Ocado reported a 30 per cent jump in third-quarter sales as it seeks to boost confidence in the business following a turbulent initial public offering (IPO) in July. Ocado, whose shares are trading 13 per cent below an IPO price which had already been cut by almost a quarter from the company’s original [...]
John Lewis shrugs off double-dip fears September 3, 2010 Customers of John Lewis are showing few signs of reining in spending in the face of prospective tax rises and employment uncertainty with the firm posting another week of double digit sales growth. The employee-owned company, traditionally seen as a bellwether of the retail sector but which has outperformed competitors for over a year, said [...]
WM Morrison to start selling groceries online September 2, 2010 WM MORRISON, Britain’s fourth largest supermarket chain, is expected to announce next week that it will start selling groceries online. According to the Financial Times, the retailer’s newly appointed chief executive Dalton Philips is set to make his business plan for Morrison’s future, including offering groceries online to its customers, public next week. In his [...]
John Lewis sales accelerating August 13, 2010 RETAILER John Lewis said year-on-year department store sales accelerated last week, shrugging off fears that prospective tax rises and employment uncertainty would hit consumer spending. The employee-owned firm, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said sales at its 28 department stores and [...]