Fighting forward: The Black Farmer’s Wilfred Emmanuel-Jones talks sausages, political incorrectness and willpower May 31, 2015 Being an entrepreneur is all about timing. You can have the best-laid plans in the world, a huge amount of skill, but it’s really about catching the zeitgeist.” This is Wilfred Emmanuel-Jones’s opening line to me. After a brief pause, he adds, “life is also all about timing”. This is something the founder of [...]
Labour leadership race: Andy Burnham woos business with calls to “celebrate spirit of enterprise” May 29, 2015 Andy Burnham will today admit that Labour got it wrong on business and the economy, and that the party cannot win the next election if voters believe it gives the workshy an "easy ride". In a speech to business leaders, the frontrunner in the race to succeed Ed Miliband as leader will say he is [...]
B&M eyes more stores as sales jump by a third May 28, 2015 Bargain retail chain B&M has hiked its store expansion targets after reporting a near 30 per cent jump in revenue in its first year as a public company. The company, which sells everything from toys to electrical goods and furniture, yesterday said sales jumped 29.5 per cent to £1.6bn in the year to 28 March, [...]
As UK enters deflation, Asda boss Andy Clarke calls 2015 supermarkets’ “most challenging year yet” May 19, 2015 On the day the UK was pushed into deflation for the first time since 1962 by a dive in food prices, Asda chief executive Andy Clarke has called 2015 the "most challenging year" of the recovery for supermarkets. Read more: Analysts say deflation will not be here to stay In the supermarket's first quarter results statement [...]
Poundworld owners quids in after selling majority stake to US private equity firm TPG in £150m deal May 15, 2015 Britain's second-largest single price retailer Poundworld has been snapped up by US-based private equity group TPG in a deal reportedly valuing the business at £150m. Poundworld was started from a market stall in Wakefield, West Yorkshire in 1974 by owner Chris Edwards Sr and has since growth to have around 270 stores and over 5000 employees. [...]
Morrisons boss says customers key to survival May 7, 2015 MORRISONS new chief executive David Potts said yesterday that it would take more weeks of listening to customers and staff to understand how to bring the “British underdog” back to life, as it reported a further drop in sales. In his first trading update since taking over the reins in March, Potts said he had [...]
Morrisons share price down after sales fall, despite slower rate under new boss David Potts May 7, 2015 The figures The Bradford-based retailer said that like-for-likes excluding fuel were down 2.9 per cent in the 13 weeks to 13 May. However, this was slightly less than analysts' forecasts of a decline of three per cent. Shares in Morrisons were trading down two per cent at 176.2 pence per share this morning. Why it's interesting [...]
Sainsbury’s dividend hit as profits plunge: Supermarket joins “horror show of income slashers” May 6, 2015 Sainsbury’s became the latest supermarket to take the knife to its final dividend yesterday, joining banks and oil companies in what analysts called a “horror show of income slashers”. Sainsbury’s said it will pay a full-year dividend of 13.2p per share, down 23.7 per cent on last year, after changing its policy in November [...]
Record grocery deflation hurts sales at Tesco, Asda and Morrisons and Sainsbury’s May 6, 2015 All four of Britain’s major supermarkets saw sales fall over the last 12 weeks, while the discounters continued to slow, as grocery price deflation reached another record low, figures released yesterday show. Sainsbury’s was the strongest performer among the big four despite a 0.2 per cent fall in sales thanks to its increased focus on [...]
Sainsbury’s share price falls after it posts first loss in a decade May 6, 2015 Nine years of uninterrupted sales growth came to a halt today as Sainsbury's reported a pre-tax loss of £72m. Investors were not impressed, and the grocer's shares were down 3.6 per cent to 264.8 pence this afternoon. The figures Sainsbury's said underlying profit before tax had fallen by 14.7 per cent to £681m in the year [...]