Supermarkets enjoy a rare lift during summer September 3, 2012 THE RETURN of the warmer summer weather together with the Olympics and the use of vouchers helped grocers enjoy their best trading performance of the year last month, in a rare bright spot amid the gloom across the rest of the retail industry. According to the latest figures from Nielsen, grocery sales in the four [...]
Morrisons faces fresh woe as half-year sales set for decline September 2, 2012 MORRISONS is this week expected to show it has come under further pressure in the first half of the year as a result of gloomy weather conditions and fiercer competition from rival Asda after the rival’s merger with discounter Netto. Analysts are forecasting that like-for-like sales at the supermarket could be down by 0.7 per [...]
Olympic feelgood factor fails to lift gloom on British high street August 23, 2012 GLOOM on the high street has continued in August, a leading survey revealed yesterday, with retailers becoming even more downbeat over business prospects for the next three months. Despite an uplift in morale from sunny weather and the London 2012 Olympic Games, retail sales were virtually flat compared to the same time last year. The [...]
Asda says disposable income is up for first time in two years August 21, 2012 BRITISH households were £1 a week better off in July compared to the same month a year earlier, the largest annual increase in more than two years, according to the latest figures from Asda’s income tracker. Families had £151 a week left over last month after paying bills, up 0.6 per cent on the previous [...]
Supermarkets hold talks with government on Sunday trading August 19, 2012 RETAILERS have been holding discussions with the government and trade bodies over the permanent relaxation of Sunday trading rules, it was revealed yesterday. Current rules limit large shops to six hours of trading between 10am and 6pm on a Sunday. This has been temporarily relaxed during the Olympics and it is thought communities secretary Eric [...]
What the other papers say this morning August 19, 2012 FINANCIAL TIMES Call to limit China’s UK nuclear stake Chinese companies competing for one of the UK’s biggest nuclear projects are unlikely to end up with a majority stake in any winning consortium in an attempt to allay concerns about Beijing gaining control of the Horizon reactor programme. Olympics effect on Scottish vote in debate [...]
Asda boss says yes to relaxing Sunday trading August 16, 2012 THE CHIEF EXECUTIVE of Asda yesterday came out in support of Sunday opening hours being extended on a permanent basis, as the debate over Sunday trading continues to divide retailers. Andy Clark said it was too early to say what the impact of the extra trading hours has had on sales but shoppers had welcomed [...]
Walmart shares fall as the US retailer sees slowdown in sales August 16, 2012 WALMART, the American retail giant and owner of Asda, reported a six per cent rise in profits to $3.8bn in the second quarter of the year, despite grappling with tough economic conditions in its home market and overseas. The company said like-for-like sales at US stores rose 2.2 per cent in the three months to [...]
CITY MOVES | WHO’S SWITCHING JOBS August 7, 2012 RBS John Owen has been appointed chief executive of the bank’s international banking business. He assumes the position following Scott Barton’s decision to leave RBS at the end of August. Owen joined the bank in 2011, and has also previously held senior management roles at Credit Suisse, UBS and Bank of America. Katten Muchin Rosenman [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 5, 2012 FINANCIAL TIMES Greek bank head sent savings abroad A political row has erupted in Athens after the former head of a big Greek state bank admitted to transferring €8m (£6.4m) of personal savings abroad to buy a London property months before his Agricultural Bank headed towards insolvency. Theodoros Pantalakis, former chief executive of Greece’s Agricultural [...]