Sales slow at Asda but boss stays upbeat February 21, 2012 ASDA, owned by US retailer Wal-Mart Stores, yesterday posted a slowdown in sales growth in its fiscal fourth quarter as shoppers cut back due to rising prices, muted wages growth and an uncertain economic outlook. Chief executive Andy Clarke said he was instinctively optimistic about prospects in 2012 but said it was too early to [...]
ASDA sales growth slows February 21, 2012 Supermarket firm Asda suffered a slowdown in sales growth as shoppers were squeezed by rising prices and muted wages growth. Britain’s second-biggest supermarket chain said today that sales at stores open over a year, excluding fuel and VAT sales tax, rose 1 per cent in the fourteen weeks to 7 January. Asda said underlying sales [...]
Tesco’s market share takes a fresh tumble February 15, 2012 TESCO endured a double blow yesterday, as it suffered a fresh drop in UK market share in the latest Nielsen figures, and set a leaving date for its long-standing director Andrew Higginson. The supermarket giant’s share of the UK grocery market fell 0.5 percentage points on a year ago in the three months to 4 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 2, 2012 FINANCIAL TIMES RISKY DEBT USE ON REPO MARKET HITS 2008 LEVELS The use of lower-rated debt in a key US funding market has returned to pre-crisis levels, fuelling fears that the so-called shadow banking system is becoming riskier. The repo market is an important part of the shadow banking sector, which consists of unregulated financial [...]
Tesco’s slice of market shrinks January 31, 2012 SUPERMARKET giant Tesco has seen its market share fall under 30 per cent for the first time in almost seven years as it struggled to recover from its dire Christmas trading performance, according to new data from Kantar Worldpanel. Tesco’s market share – based on a measure of how much money has gone through its [...]
Tesco sales growth slows January 31, 2012 Sales growth at Tesco has slowed to just half that of the broader grocery market as rivals like Wal-Mart’s Asda and J Sainsbury gain share, data showed. Market research by Kantar WorldPanel showed grocery sales in Britian climbed 4.2 per cent year-on-year in the 12 weeks to January 22 compared with 4.8 per cent in [...]
Asda takes George brand to Middle East January 25, 2012 ASDA, the British arm of US retailer Wal-Mart, has signed a franchise deal with a Lebanon-based firm to take its George budget fashion brand to the Middle East. The UK’s second largest supermarket said in a statement yesterday that the Azadea Group, headquartered in Beirut, would explore options for its George label in the Middle [...]
Asda takes George brand to middle East January 25, 2012 Asda has signed a franchise deal with a Lebanon-based firm to take its George budget clothing brand to the Middle East. Britain’s second biggest supermarket group behind Tesco said the Azadea Group would open George franchise stores in the Middle East. Last year Asda announced plans to establish a small number of pilot George stores [...]
Asda plans £500m expansion January 23, 2012 ASDA has announced it will create 5,000 new jobs in 2012 by opening 25 new stores and three depots across the UK. Britain’s second largest supermarket chain has earmarked £500m for the investment that will also expand and refurbish 43 of its existing stores. The 25 new shops will add over 600,000 square feet of [...]
Resource stocks lift FTSE as Eurozone closes in on Greece debt deal January 23, 2012 The FTSE 100 started in positive territory this morning — with hopes that Eurozone finance ministers can nail down a final agreement over the festering Greek debt pile on the rise. Banking shares across Europe were buoyed by renewed optimism that Greece can avert a default which would derail the bloc’s efforts to stabilize struggling [...]