Dixons Carphone boss Sebastian James steals Retail Week Power List crown from Next’s Simon Wolfson June 26, 2015 Dixons Carphone chief executive Sebastian James has been crowned the most powerful person in British retailing, knocking Next's Simon Wolfson off the top spot. James has stolen the number one position in Retail Week's annual Power List, published today, for his work successfully merging the two retailers, creating a £10bn business that swooped into [...]
Regulators list problems with Poundland’s £55m 99p Stores merger June 25, 2015 Britain’s competition watchdog unveiled a list of issues it is exploring around Poundland’s £55m merger with 99p Stores after the discount chain agreed to push ahead with an in-depth probe last month. Poundland, which floated on the stock market last year, announced in February that it was going to buy 99p Stores. However, the Competition [...]
Tesco tops suppliers’ naughty list over groceries code June 22, 2015 Tesco has been on the receiving end of more than half of issues raised by suppliers with the new Groceries Code adjudicator in the last year. The troubled supermarket was at the centre of 54 per cent of complaints made, with 11 per cent of Tesco's suppliers going to the new government ombudsman, according [...]
Tesco first quarter results and AGM: Three things to expect from Friday’s figures June 21, 2015 Tesco will update the market on its first-quarter figures – the first since reporting its biggest ever loss – while executives will face shareholders at its AGM. Here's what to expect from the supermarket on Friday. 1. The numbers will continue tumbling The supermarket’s first quarter is unlikely to tell a different story from the [...]
MRSA superbug found in pork sold by Sainsbury’s, Tesco, Asda and Co-operative June 18, 2015 Pork sold by four major UK supermarkets has tested positive for MRSA CC398 – a variant of the superbug, which can cause skin disorders and serious infections in humans. Products from Sainsbury's, Tesco, the Co-operative and Asda all tested positive for the bacteria during an investigation carried out by The Guardian. Read more: Sainsbury's, [...]
Sinking supermarkets: Tesco has had a disastrous year. Can it recover? June 18, 2015 The UK’s supermarkets were once investment darlings. The likes of Tesco and Sainsbury’s emerged on the stock markets, radically changed our shopping habits and then rose to dominance on the FTSE 100. But times have changed, and the supermarkets have been down on their luck. Are they still worthwhile investments? “Part of the [...]
Sainsbury’s and Tesco ditch Transport for London’s Tube station Click & Collect scheme June 17, 2015 It seems the retail revolution is still a little way off, after supermarket giants Sainsbury's and Tesco ditched a scheme introduced by Transport for London (TfL) to let shoppers collect their groceries at Tube stations. Read more: TfL given the green light to turn its HQ into flats The scheme, introduced amid much pomp and [...]
Tesco must find £5bn to rebuild its balance sheet, says Moody’s June 15, 2015 Troubled Tesco will need to find £5bn in order to relieve the pressure on its overstretched balance sheet, according to credit ratings agency Moody's. Read more: Here's what assets has Tesco sold off and what's heading to the checkout "It has a relatively high level of debt – also adjusted debt, such as the pension deficit and [...]
Big four supermarkets will keep getting squeezed says Moody’s June 10, 2015 The leading big four supermarkets are expected to lose another four per cent of their market share by 2020 to discounters Aldi and Lidl, as competition in the grocery retail market intensifies. A report published today by credit rating agency Moody’s predicts Aldi and Lidl’s combined market share will reach 12-15 per cent by 2020, [...]
Morrisons cuts prices on 200 items as boss David Potts swings the axe in supermarket price wars June 8, 2015 Morrisons is the latest supermarket to swing the axe in the ongoing price wars, with price cuts on hundreds of products. David Potts, the former Tesco executive who replaced Dalton Phillips at the top, has made his first move in the battle of the supermarkets as it tries to compete with discounters and its big [...]