Curry king who spiced up UK April 22, 2010 ESCAPING the poverty net inspired Sir Gulam Noon to go into business. He lived with his five siblings in one room when he was growing up in Mumbai, India, but is now the UK’s unofficial curry king, after amassing his fortune by selling the food of his native country in the UK. After first travelling [...]
Tesco April 20, 2010 THE LATE Jack Cohen, who founded Tesco in 1924, was fond of telling staff “you can’t do business sitting on your arse”. It’s a slogan that clearly resonates with the current management team, who show no sign of losing their expansionary zeal. Tesco has grown much further and faster than domestic rivals like J Sainsbury [...]
Sainsbury’s credit cards launch boosts finance unit April 6, 2010 J SAINSBURY has today launched two new credit cards in an extension of its personal finance services. The first card, the Sainsbury’s Nectar Credit Card, offers users an APR of 12.9 per cent on purchases and balance transfers, and double Nectar points on their shopping, and in petrol filling stations for two years. Meanwhile the [...]
Carphone Warehouse splits in two March 29, 2010 TalkTalk and Carphone Warehouse (CPW), the electronics retailer, both saw a positive reaction to their first day operating as separate entities. Carphone Warehouse added 7.3 per cent after it spun off its TalkTalk broadband supplier. Its shares began trading at 144p and closed at 155p. TalkTalk added 4.4 per cent on its maiden day trading, [...]
We’re being too gloomy on outlook for retail March 28, 2010 SO the clocks have changed, there’s now more daylight than darkness and spring is here. It’s time for some optimism, unless you happen to be a retailer. In the last week some of the biggest names in the high street have been queuing up to tell us how fearful they are about the consumer. Of [...]
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 [...]
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, [...]
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 [...]
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 [...]