HOW DOES SAINSBURY’S PERFORMANCE COMPARE TO ITS PEERS? June 16, 2010 JAMES MONRO | S&P EQUITY RESEARCH “These results put Sainsbury’s in line with Tesco in terms of growth, adjusting for Clubcard sales, but we would have liked to see more given the benefit of two weeks of World Cup sales. But Sainsbury’s may need more margin investment to keep up with its rival over the [...]
Bonuses are back for top boardrooms June 16, 2010 THE average FTSE 100 boardroom bonus topped half a million pounds in the first half of this year, with an average pay rise for top directors of 23 per cent, research out today reveals. Bonus payments rose to an average of £558,918, a dramatic bounce from last year when payouts fell 30 per cent, according [...]
When process becomes more important than any one person June 16, 2010 FOR better of worse, some businesses become identified with their bosses. Look at Steve Jobs at Apple, whose share-price dropped when rumours about his health circulated last year. Or BP when it was run by Lord Browne, a man whose attitude towards the business he ran is often compared to that of Louis XIV’s towards [...]
BEST OF THE BROKERS June 16, 2010 TESCO ING reiterates a “buy” recommendation on Tesco and said this was a fairly lacklustre first trading update, although the market shouldn’t be hugely surprised. ING noted Tesco’s chief executive Terry Leahy expects the first quarter to be a low point for the year and he continues to talk about “recovering global consumer markets.” CARPHONE [...]
Tesco growth falters on low food inflation June 15, 2010 TESCO, the UK’s biggest supermarket, yesterday said stalling levels of food price inflation had put the brakes on its sales growth for the first quarter of the year. Like-for-like sales in the UK, adjusted for VAT, inched up just 0.1 per cent over the three months to the end of May, excluding sales of petrol. [...]
Tesco chief Leahy to retire June 15, 2010 THOSE with an innate fear of homogeneity may break into a cold sweat at the mention of Tesco, but there is no question that the supermarket is a robust business play. Faced with a decidedly tricky first quarter – roaring petrol prices eating a hole in shoppers’ pockets; depressed food inflation; a raft of potholes [...]
Trio of efficiency experts drafted in to mobilise review of spending June 15, 2010 THE government has appointed cost-cutting stalwarts Sir Peter Gershon, Dr Martin Read and Lucy Neville-Rolfe to advise on tackling waste in public services, the Cabinet Office announced yesterday. The trio will form part of the Efficiency and Reform Group which is charged with finding savings in procurement, property and workforce costs. All three have advised [...]
Tesco on special offer after being oversold June 14, 2010 TESCO share prices tumbled to 397p last week after the announcement that chief executive Sir Terry Leahy was to step down after 14 years at the helm. Sales data released today is expected to be lacklustre, and combined with an expected weak consumer environment in the UK, Tesco’s margins in the near future look vulnerable [...]
Supermarket showdown as rivals report June 13, 2010 SUPERMARKET giants Tesco and J Sainsbury are this week expected to report fairly flat sales growth for the first quarter of the year, signalling a slowing of consumer activity across the food sector. Tesco is expected to report sales growth of between zero and 1.5 per cent tomorrow for the first quarter according to analysts, [...]
Tesco is a better pick than Sainsbury’s June 13, 2010 THOSE looking for proof the UK is going to bump along the bottom for a while before making a convincing exit from recession need only look at this week’s supermarket sales figures. Now the comparatives are beginning to get tougher, things are looking decidedly lacklustre. Analysts at RBS reckon J Sainsbury will report flat UK [...]