Who is Asda’s chair and why does he want Mohsin Issa to step away? August 12, 2024 Depending on your age and your attention span towards the in and outs of the UK retail scene, you may or may not have heard of Lord Stuart Rose. Knighted in 2008 for his services to the retail industry, he has spent twenty years running some of the biggest names in UK retail: Argos, Marks [...]
‘It’s not where we want to be’: Asda sales shrink as supermarket rivals eat into market share August 8, 2024 Asda’s sales have dropped again after it continued to lose market share to its supermarket rivals, according to new figures. Revenue in its second quarter of its financial year was down 2.2 per cent, with a 5.3 per cent like-for-like decline, as its sales slump accelerated. Competitors like Morrison’s, Tesco and Sainsbury’s have been slowly [...]
DWF turnover increased by double-digits in first results since going private August 6, 2024 The first legal service firm to list on London Stock Exchange, DWF, has seen its net revenue increase by 14 per cent over the last year, 10 months on since it went private
Barclays announces £750m buyback after beating expectations August 1, 2024 Barclays joined other lenders in announcing sizeable returns to shareholders after performing ahead of expectations in the second quarter. In the three months to June, Barclays reported a pretax profit of £1.9bn, more or less unchanged on last year but comfortably ahead of the £1.6bn expected by analysts. The lender’s investment bank and its wealth [...]
Snack hack: Tesco follows Sainsbury’s with ice cream meal deal July 25, 2024 Sainsbury’s and Tesco have taken meal deal enthusiasts by storm, with a new item added to their popular lunchtime offer. Now, in addition to your usual sandwich and drink, you can pick up an ice cream or lolly to complete your meal deal at both supermarkets. At Tesco, this could see you set with a [...]
Mark Kleinman: Is troubled Burberry heading for a chequered flag? July 25, 2024 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City A.M. column. Today, he looks at Burberry’s threads wearing thin, Hammerson’s big Bicester sale and Love Island Is troubled Burberry heading for a chequered flag? Not only a chequered recent past, but on current evidence every [...]
Problems at Asda look set to continue as workers strike again July 24, 2024 This week, Asda workers - with the support of GMB union - announced the latest strike action in a months-long string of collective action and demonstrations.
Eagle Eye: Lucrative Tesco and Morrisons deals boost loyalty scheme specialist’s revenue July 23, 2024 Lucrative contracts with the likes of Tesco and Morrisons and a pitch win with the bookseller Waterstones helped personalised marketing firm Eagle Eye to rake in bumper revenue and bolster its cash position, its latest results showed.
The Crowdstrike disaster was bound to happen. The cloud is a chokepoint in our interconnected world July 23, 2024 Last week, Crowdstrike caused a global tech meltdown due to a botched software rollout. The incident should be seen as a dry run for the next time someone throws a spanner into our globally interconnected tech ecosystem, writes Andy Blackmore.
Grocers vs bargain chains: Discount competition is heating up July 23, 2024 The discount sector is crowded and competitive: Aldi, Lidl, Poundland and B&M are only a few of the retailers vying for space. The market for discount goods has been growing over the last few years, but not every company has been a winner – only a few stores have managed to attract and keep customers. [...]