Clubcard lifts Tesco’s share of customers November 10, 2009 SUPERMARKET giant Tesco is growing market share for the first time in two years as it fights back at its rivals, industry figures show. Tesco’s double Clubcard points promotion – which cost the group around £5m a week – helped its share of the grocery market climb to 30.7 per cent in the 12 weeks [...]
Wal-Mart’s Asda re-shuffle November 8, 2009 The ownership structure of Britain’s second biggest supermarket, Asda, has been re-vamped after Wal-Mart let its subsidiary sell the supermarket chain to a fellow Wal-Mart owned investment vehicle called Corinth Services. Last night it was revealed that the world’s largest retailer Wal-Mart embarked on a technical group restructuring. While Wal-Mart is still the parent company [...]
Asda and J Sainsbury to battle it out in crunch time for grocers November 8, 2009 J Sainsbury and Asda will go head -to-head this week to show the City how they have been faring in the consumer downturn. Sainsbury’s, Britain’s third-biggest grocer, is expected to post a 16 per cent rise in first-half profits on Wednesday and warn of a tougher second half amid stiff competition. And Asda, owned by [...]
Boots backs boss Hornby as sales jump November 3, 2009 ALLIANCE Boots, Britain’s biggest pharmacy chain, yesterday said that it was on track to beat current trading expectations after reporting a jump in sales at its Health & Beauty and wholesale divisions. Chief executive Andy Hornby, who formerly ran near-failed bank HBOS?and supermarket Asda, announced the good news as he unveiled his set of results [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 3, 2009 FINANCIAL TIMES INDIA SOLD ON GOLDGold surged to an all-time high after India bought 200 tonnes of the precious metal, swapping dollars for bullion as the finance minister warned the economies of the US and Europe had ‘collapsed’. India’s decision to exchange $6.7bn for gold equivalent to eight per cent of world annual mine production [...]
CBI: recovery on way for the high street October 27, 2009 SALES on Britain’s high streets grew in October at their fastest annual rate in almost two years, the Confederation of British Industry (CBI) said yesterday, raising hopes that the retail sector will see a recovery sooner rather than later. In its monthly distributive trades survey, the business lobby said that a net balance of eight [...]
Tesco starts to close gap on faster growing rivals October 13, 2009 TESCO, the UK’s largest retailer, is closing the gap on faster-growing competitors, market researcher TNS WorldPanel said yesterday. TNS, which tracks sales growth in the grocery sector, said sales at Tesco, which has been growing less quickly than rivals in recent months, rose 4.2 per cent in the 12 weeks to 4 October. This was [...]
M&S clothing slips into third place October 8, 2009 Marks & Spencer has fallen into third place among Britain’s fashion retailers in terms of volume of clothes sold, trailing behind George at Asda and Primark, according toTNSFashion Trak. M&S fashion sales have suffered as consumers switched to cheaper rivals during the recession.
Tesco beats forecasts with 1.4bn profits October 6, 2009 TESCO chief executive Sir Terry Leahy yesterday said that the UK was “past the low point” of the slump as he unveiled bumper profits and sales. Britain’s biggest retailer said that group sales had jumped 8.3 per cent to £30.4bn during the 26 weeks to 29 August – meaning the giant supermarket chain was ringing [...]
Tesco set to report slower sales growth October 4, 2009 TESCO, Britain’s biggest retailer, is set to report slower underlying UK sales growth than rival J Sainsbury for the fifth quarter in a row this week, alongside a small rise in first-half profit. But analysts expect Tesco to flag a stronger second-half profit performance, and some see signs it is beginning to close the gap [...]