Supermarket price war attracts short sellers to record positions in sector June 9, 2015 It's no secret UK supermarkets have been under the cosh both in terms of the ongoing price war with discounters Aldi and Lidl, as well as several problems of their own making. Now it seems short sellers are making hay while the sun shines. The sector has attracted record interest from short sellers, with [...]
Tesco’s Dunnhumby has another suitor as Hellman & Friedman join WPP, Nielsen and several private equity firms June 7, 2015 Yet another company has joined the clamor for a slice of Tesco's data business which was behind the supermarket's hugely successful Clubcard loyalty scheme. Hellman & Friedman, the US private equity firm, is the latest bidder said to be interested in Dunnhumby, joining a crowded line-up of potential buyers willing to splash out as much as [...]
Tesco: What assets has it sold off and what’s heading to the checkout as billion-pound South Korea sale considered? June 5, 2015 Streamlining, belt tightening, slimming down: call it what you will, but Tesco assets are making their way through the checkout at a swift pace, as the troubled supermarket attempts to raise funds for its turnaround. The latest item heading for the bagging area after reporting its biggest ever loss, is part of its large and [...]
Morrisons is the only big four grocer “currently on right track”, says Nielsen June 5, 2015 Morrisons waits for good news for months and then three come along at once. The supermarket – which has, until now, been one of the more unloved – has already had one set of figures prove it's the only one of the big four in growth, which in turn prompted a share price rally, [...]
Tesco boss Dave Lewis tackles food waste: Unsold food given to charities in new scheme June 4, 2015 Tesco boss Dave Lewis is taking steps to reduce food waste at the supermarket. New figures reveal the company has thrown away 55,400 tonnes of food over the past year, as he announced plans to give away unsold food that is still edible to charities, helping the homeless and other vulnerable groups. "No one wants to [...]
Morrisons the only “big four” supermarket in growth June 2, 2015 Is this a case of too little too late or the beginning of a turnaround? Morrisons was the only one of the “big four” supermarkets to grow over the last 12 weeks, according to latest figures by Kantar Worldpanel. The supermarket, which this week faces demotion from the FSTE 100, managed a sluggish 0.1 [...]
Tritax Big Box sets its sights on Tesco real estate with £47m bid June 1, 2015 Real estate management firm Tritax Big Box confirmed it will acquire Tesco’s regional distribution centre at Capitol Park in Goole for £47m yesterday. The deal, which has been funded through equity proceeds, will see Tritax take over the site which has a 17.5 year unexpired lease and is expected to yield a 5.67 per cent [...]
Tesco share price edges down as shareholder group ramps up legal battle for “substantial” compensation May 28, 2015 A group of Tesco shareholders seeking compensation from the supermarket claim the troubled supermarket "committed serious violations" by overstating its profits. Tesco Shareholder Claims Limited (TSC), which launched proceedings in March this year, argues there is a “strong case” and that the ultimate claim will be “substantial”. Back in September, the supermarket's incoming boss Dave Lewis [...]
Former Tesco chief executive Philip Clarke was paid £764,000 by the supermarket last year May 21, 2015 Ousted Tesco chief executive Philip Clarke, who had presided over a fall of nearly 30 per cent in Tesco's share price during his three years at the helm of the supermarket, was paid £764,000 by the supermarket last year. Tesco's annual report, published this morning, showed that although he stepped down in September last year, [...]
Tesco closes remaining Homeplus stores with loss of 450 jobs in Bracknell, Cheshire, Bristol, Nottingham, Manchester and Preston May 12, 2015 Tesco is bringing to an end its non-grocery Homeplus stores across the UK with the closure of its remaining locations. The last six of the retailer's Homeplus stores will close with the loss of 450 jobs, bringing to an end its venture in non-food retailing in the UK as it seeks to turnaround huge losses. Stores [...]