ii view: Sales retreat at Sainsbury’s July 8, 2019 By Keith Bowman from interactive investor. Tough comparatives have impacted results for this supermarket, but that is no surprise. First quarter trading for 16 weeks to 29 June 2019 Total sales down 1.2 per cent (excluding fuel) Like-for-like sales declined 1.6 per cent (excluding fuel) Grocery sales fell 0.5 per cent General merchandise sales down 3.1 per cent [...]
What’s wrong at Dixons Carphone? Analysts react to loss as shares dive June 20, 2019 Dixons Carphone revealed huge losses of £259m this morning and warned there was “more pain” to come in its struggling mobile phone division. It blamed the rapidly changing mobile phone market in the UK and said it would take two years to break even amid a transformation plan. Read more: Dixons Carphone shares plunge as [...]
Sainsbury’s chooses ex-RBS man Brown to head banking unit June 11, 2019 Sainsbury’s has appointed a new chief executive to lead its baking unit as it looks to build its online presence. Former RBS man Jim Brown will take over the reins at Sainsbury’s Bank from next Wednesday. The bank handles Sainsbury’s Bank customers, as well as Argos Financial Services and Nectar. Brown will have a “short” [...]
Why bombed-out Sainsbury’s leads the FTSE 100 May 10, 2019 Hammered since the Asda merger was blocked, our head of markets explains the surge to a three-week high. Rather than fight the decision of the Competition and Markets Authority (CMA), Sainsbury (LSE:SBRY) and Asda decided to call off the wedding. This leaves a huge strategic question mark over where Sainsbury's goes next. Not surprisingly, the [...]
Sainsbury’s profit plummets after spending £46m on failed Asda merger May 1, 2019 Sainsbury’s profits tumbled 42 per cent last year as the supermarket giant spent £46m on its failed merger with Asda, it revealed this morning. Read more: Watchdog kills Sainsbury's-Asda merger: What went wrong? The supermarket suffered a body blow last week when the Competition and Markets Authority (CMA) banned the proposed merger “in its entirety”, a [...]
Sainsbury’s: Buyers bet that shares have seen the low April 26, 2019 By Graeme Evans from interactive investor. Trading within a whisker of a record low, a lot of bad news is already written into the share price. Yesterday’s humiliation of Sainsbury (J) (LSE:SBRY) and its boss Mike Coupe has not stopped investors from piling into the supermarket giant’s shares in the belief the chain can bounce [...]
The Independent Group hire former New Labour ad-man for European elections April 23, 2019 The Independent Group and its political party Change UK have called on the services of former New Labour ad-man Johnny Hornby and his WPP-backed agency. Read more: The Independent Group applies to register as a political party Hornby’s agency The&Partnership, pronounced “The And Partnership”, will provide creative advertising, design, data analytics, and strategic advice for [...]
Ford and Volkswagen to team up on development of next-generation pickup truck March 28, 2019 German car making giant Volkswagen has penned a deal to produce a pickup truck with US rival Ford, as discussions continue over extending an alliance between the two firms. Volkswagen and Ford announced last year they were in talks to work on a range of commercial vehicles, later branching out even further to include electric [...]
Interiors: We delve into the world of knitted furniture, a crafty homeware solution with women at its core March 22, 2019 If you know your Mayfair art galleries, then Hauser & Wirth and Messum’s will be familiar territory. In the past few years both have established art centres in the English countryside – Hauser & Wirth in Somerset and Messums in Wiltshire – destination idylls to tempt us city folk into bucolic bliss. An exhibition on [...]
Sainsbury’s shares crash as Asda merger torpedoed February 27, 2019 A strongly worded report from the regulator appears to have torpedoed this supermarket mega merger. What a difference a day makes. Until this morning, Sainsbury's (LSE:SBRY) was the best-performing supermarket stock over the past 12 months by some margin. Now, after the regulator's report on its proposed merger with Asda, it's the worst! After months [...]