London Report: Cheer for UK as real pay up and inflation falling April 14, 2014 BRITAIN’S economy is set to put the recession firmly behind this week with news of the first real wage growth in four years and falling unemployment. Inflation and unemployment data are expected to show wage growth in March beating inflation. Capital Economics’ Paul Hollingsworth said: “The latest earnings data should show that the squeeze on [...]
Sainsbury’s offer value alternative to journo barred from Tesco dinner April 10, 2014 After reports that the Financial Times' senior retail correspondent, Andrea Felsted, has been barred from a Tesco journalist dinner this evening, a rival has put forward an alternative of their own. Grocers Sainsbury's suggests that Felsted might want to check out their £10 Bistro meal deal, for "any journos who find their dinner plans suddenly [...]
Big four grocers all lose ground to discounters April 9, 2014 BRITAIN’S four biggest supermarket groups all lost market share over the last three months to German discounters Aldi and Lidl, with Sainsbury’s suffering the biggest drop in market share in ten years. Sainsbury’s has until this month been the only one of the big four to resist the pressure of the discounters and hold onto [...]
Brand Index: Cheaper supermarket brands are outflanking Morrisons April 8, 2014 GERMAN discounters Aldi and Lidl continue to expand their reach in the UK at the expense of the so-called “big four” chains, with Aldi increasing its market share by more than a third. Tesco, Asda, Sainsbury’s and Morrisons have all experienced a decline in sales, though Asda has proved the most resilient and Morrisons has [...]
Big four grocers all lose ground to discounters April 8, 2014 BRITAIN’S four biggest supermarket groups all lost market share over the last three months to German discounters Aldi and Lidl, with Sainsbury’s suffering the biggest drop in market share in ten years. Sainsbury’s has until this month been the only one of the big four to resist the pressure of the discounters and hold onto [...]
The week in brief April 6, 2014 Advertising Week Europe draws to a close This year’s conference came to an end last week, after a roster of the industry’s best-known names gathered to discuss themes including native advertising, programmatic buying and the importance of young talent. Among the stars in attendence were Idris Elba, James Corden, and Sainsbury’s outgoing chief executive Justin [...]
Tesco confirms finance chief departure April 4, 2014 Grocer Tesco has confirmed the widely reported departure of its chief financial officer, Laurie McIlwee. McIlwee has decided to step down from the board and resign, but has agreed to remain in his role to ensure a smooth handover, a statement said. Chairman Sir Richard Broadbent thanked McIlwee for his contribution, saying that he "has [...]
Tesco finance chief Laurie McIlwee poised to step down April 3, 2014 TESCO’S long-serving finance chief Laurie McIlwee is expected to step down as soon as next week, amid mounting pressure on Britain’s biggest supermarket chain to stem falling sales in UK and in Europe. Concerns over McIlwee’s position at the company emerged in October after Tesco unveiled a 70 per cent slump in European trading profits, [...]
Best of the Brokers for 03 April 2014 April 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO HSBC cut its price target for the supermarket from 300p to 260p due to the structural changes in the sector and the need for Tesco for take decisive action such as investing its margin before it’s eroded. The broker cut its earnings [...]
Best of the Brokers for 02 April 2014 April 1, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO Espirito Santo sticks to its “sell” rating for the retailer ahead of full-year results on 16 April, and cuts its fair value from 315p to 265p. The broker thinks that while Tesco’s operational problems are fixable, it reckons the firm could fail [...]