Tesco first half results: Analysts question whether “Drastic Dave” Lewis has been drastic enough October 7, 2015 Tesco may have beaten expectations for UK sales in the first half of this year, but analysts are warning that the troubled supermarket still has a long way to go if it is to shrug off the many problems facing the UK's biggest retailer. Tesco's profits fell 55 per cent in the six months to 31 [...]
Tesco share price closes up ahead of first half results on Wednesday October 6, 2015 Shares in troubled supermarket Tesco closed up three per cent to 192.10p per share this afternoon, ahead of its full-year results which are due out tomorrow morning. Tesco's shares inched up at the open, and added about one per cent over the course of the morning, and continued to make gains throughout the afternoon. Shares [...]
Tesco boss Dave Lewis pledges to simplify relationship with suppliers October 6, 2015 Tesco boss Dave Lewis has pledged to simplify the way the supermarket does business with suppliers as part of his efforts to change the behaviour at the group in the wake of its accounting scandal last year. Speaking at the IGD conference in Westminster this afternoon, Lewis announced plans to speed up payments so its [...]
Amazon Prime Now one-hour delivery comes to Wandsworth, Sutton and Merton and two-hour slots to Kingston, Croydon and Sunbury October 6, 2015 Residents of Wandsworth, Sutton and Merton are the latest Londoners who will be able to get their hands on items they've bought on Amazon within just 60 minutes. In addition to the new areas eligible for one hour delivery slots, Amazon's Prime Now service will also offer two-hour delivery windows to people in Kingston, Croydon and Sunbury [...]
Brooks Macdonald, Capita, Tesco: Best of the Brokers for 6 October 2015 October 6, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BROOKS MACDONALD I want to grow old with you, was Shore Capital’s message for Aim-listed wealth manager Brooks Macdonald. The broker maintained its “buy” rating and upgraded its fair price to 2,075p from 1,875p on the strength of its full-year results, citing [...]
Today’s tech Goliaths can’t rest on their laurels – The City View October 5, 2015 Rentpath. Web.com. PSINet. Wavo Corporation. Netcom On-Line. iStar Internet. Not exactly household names, are they? But these organisations were some of the biggest listed internet companies in the world, just two decades ago. According to research by venture capitalist Mary Meeker, they were all in the top 15 at that time, but have now been [...]
Service sector set to bounce back after poor August – London Report October 4, 2015 ECONOMISTS expect a purchasing managers’ survey, out today, to show that service sector expansion picked up modestly in September after dipping to a 27-month low in August. Howard Archer at IHS Global Insight said the business activity index is forecast to have reached 56 which would mean an average of 56.3 for the third quarter [...]
Tesco first half results: Three things to expect from half-year interims and Dave Lewis on Wednesday October 4, 2015 Tesco is due to reveal first half results on Wednesday, and just over a year on from the supermarket shocking the City with a quarter of a billion-pound black hole in its financials, all eyes are on how far through it really is in turning things around. With a bulging balance sheet and market share [...]
New York and fuel trim FTSE – London Report October 2, 2015 UK SHARES outperformed their European counterparts yesterday as mining and oil and gas companies rose, although weakness on Wall Street trimmed the gains. The blue-chip FTSE 100 index closed just 10.86 points higher, up 0.2 per cent at 6,072.47 points, having been up by more than one per cent for most of the session. Mining [...]
Tesco in talks to sell 10 more supermarket development sites to Meyer Bergman October 1, 2015 Tesco is in talks to sell a large chunk of its UK land portfolio, as the supermarket looks to raise funds to bolster its battered balance sheet and pay down debt. The company is understood to be in advanced discussions to sell 10 development sites to European investment giant Meyer Bergman for about £250m. The [...]