Tesco continues to shed market share as Asda hits record high March 27, 2012 TESCO has continued to shed market share in the first three months of 2012, latest figures showed yesterday, while number two supermarket Asda has seen its slice of the pie jump to a record high. According to Kantar data released yesterday, Tesco’s year-on-year growth lagged behind the rest of the sector at just 2.7 per [...]
ADVISERS: ROTHSCHILD March 26, 2012 ROTHSCHILD acted as the financial advisor to The Garden Centre Group and to lender Lloyds Banking Group. Majid Ishaq, a London-based managing director at Rothschild, led the team. Ishaq told City A.M. that Garden Centre was attractive because of its mid-market position and its middle class customer base. The chain owns about 70 per cent [...]
ANALYST VIEWS: HOW HAS THE RETAILER FARED COMPARED TO RIVALS? March 21, 2012 CLIVE BLACK | SHORE CAPITAL Sainsbury has delivered what can only be considered a very sound and resilient performance against the backdrop of demonstrably challenging times. Indeed, the group deserves credit for the sales momentum delivered in the fourth quarter and in the face of some deep fuel related discounts by competitors. RICHARD HUNTER | [...]
Sainsbury’s sales and market share rise March 21, 2012 J Sainsbury, Britain’s third-biggest supermarket group, beat forecasts for fourth quarter sales growth as it won market share from rivals. “We continue to outperform the market and gain market share,” said chief executive Justin King. He said although the economic climate was likely to remain challenging Britain’s roster of summer events, including celebrations to mark [...]
Tesco: the fastest growing of the top four global grocers March 14, 2012 TESCO may be losing market share in the UK, but the supermarket chain is forecast to grow faster than its three main global rivals over the next three years, according to research by retail analyst IGD. The grocer is set to grow at an annual rate of 6.8 per cent between 2011 and 2015, compared [...]
Sainsbury’s closes gap in online sales March 12, 2012 SAINSBURY’S has claimed to have become the second-biggest online grocer after its orders topped 165,000 a week. The supermarket said a 20 per cent rise in orders per week, with an annualised turnover of £750m, makes its website the fastest growing online grocery business. Overall, Sainsbury’s still ranks third behind Tesco and Asda, but the [...]
Morrisons profit up – but predicts tough 2012 March 8, 2012 Britain’s fourth-biggest grocer Wm Morrison said the UK grocery market was likely to remain subdued in the coming year despite easing inflationary pressures as it posted a eight per cent rise in year profit. “We expect a challenging year in 2012,” the firm said on Thursday, adding that it still expected to deliver profitable growth. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 4, 2012 FINANCIAL TIMES EU TO PUSH QUOTA FOR WOMEN DIRECTORS The EU’s executive is to press ahead with plans for quotas to increase the proportion of women on corporate boards, triggering a protracted fight between Brussels and national governments. Viviane Reding, justice commissioner, will announce the first step towards European-level legislation, a year after she threatened [...]
Tesco keeps on losing share to cut price rivals February 29, 2012 LEADING supermarket Tesco failed to increase sales as quickly as its rivals in the last 12 weeks, data out yesterday showed, while leaked documents showed the Co-op is well behind its sales targets already this year. Tesco’s sales rose 2.5 per cent in the 12-week period ending 19 February, compared with the same period last [...]
Asda takes on John Lewis exec February 27, 2012 ASDA has poached John Lewis exec Richard Mayfield to fill the role of chief financial officer. Mayfield, director of partnership services at John Lewis, is to join the retail giant in the summer, replacing acting CFO Rob McWilliam, who is moving to parent firm Wal-Mart as a strategy director. Before working for John Lewis, Mayfield [...]