Asda’s staff cash in on shares June 1, 2009 Supermarket retailer Asda today has announced that over 16,500 colleagues will share in a £43m payout thanks to the company’s Sharesave plan. This years plan will be the largest ever payout since Wal-Mart acquired Asda in 1999. The current stock price means all investors will receive a 150 per cent return on their monthly investments. [...]
Retail sales fall in May as pain worsens May 28, 2009 SHOPPERS are belt-tightening again, according to data released yesterday which shows that high street sales fell by more than expected in May. New figures from employers’ organisation the CBI showed that some 17 per cent more retailers reported a fall, rather than a rise, in sales during May. The data suggests that April’s rise, which [...]
Value lines lift Northern Food’s sales May 27, 2009 A SURGE in demand for value lines helped Northern Foods beat market expectations for full year sales yesterday. But the group’s pre-tax profit still fell 5.4 per cent to £47.5m from £50.1m the year before due to restructuring costs. And it warned on future trading due to the rising price of ingredients and pressure from [...]
Morrisons outstrips its rivals May 27, 2009 Morrisons is growing at the fastest rate of the big four supermarkets with Tesco continuing to lag behind the pack, according to new industry data. Britain’s fourth-biggest grocer clocked up growth of 7.9 per cent in the 12 weeks to 17 May, lifting its market share to 11.6 per cent. Sainsbury’s, with 7.8 per cent [...]
Hop & glory May 27, 2009 MOST people, when they think of a thirst-quenching beer for summer, probably go no further than lager. Now, there is nothing wrong with a good lager, the problem is simply that there are plenty of sub-standard ones about. The pints of fizz flowing from the beer-taps of many pubs are second-rate and suffer from mass-production. [...]
Rose hints at early retreat May 25, 2009 MARKS & SPENCER’S executive chairman Sir Stuart Rose has said publicly for the first time he hopes to stand down before July 2011, his previously announced departure date. Rose, who has faced months of speculation about his future, said: “It’s quite clear. I said I would extend my tenure at the least until 2011. What [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2009 FINANCIAL TIMESCASH-STRAPPED TOURISTS AVOID SPANISH SUNBritish tourists impoverished by the weak pound, German holiday makers worried about recession and a domestic market laid low by the sharpest economic contraction for 40 years: it would be hard to imagine a worse combination for Spain’s tourism industry as bookings in many places are down by at least [...]
Mutuality stages a comeback as Co-op buys Somerfield for £1.56bn July 17, 2008 Three months ago Co-operative Group chief executive Peter Marks unveiled a bold three-year plan to double the group’s profits. The fortunes of the mutual store group were flagging, with 2007 profits down almost 50 per cent and the group offering little competition to the main supermarket chains. Yesterday, the first phase of Marks’ plan to [...]
Boots deal is ‘looking up’ October 28, 2005 Boots chief executive Richard Baker claimed yesterday that investors are warming to the idea of the proposed merger with Alliance UniChem. The proposed £7bn “merger of equals” was met with a lukewarm response by shareholders and ratings agencies when it was announced at the start of this month. However, in the intervening weeks, Baker, chairman [...]