Big Four supermarkets stall amid fast rise of Aldi and Lidl May 29, 2019 The UK’s Big Four supermarkets all failed to post a rise in sales during the last quarter as they battled it out with the German discounters to keep their market share in an increasingly competitive landscape. While Tesco’s overall sales were flat in the 12 weeks to 19 May, its performance trumped the likes of [...]
Walmart faces challenge over executive pay and harassment policy May 27, 2019 Asda owner Walmart is facing pressure to make changes to its executive pay and sexual harassment policy as two proxy advisers recommended shareholders vote against the company at its annual meeting next week. Glass Lewis has recommended that shareholders vote against the retail giant’s executive pay proposals, saying “overall, the company paid more than its [...]
Competition watchdog accuses drugs companies of illegal market sharing May 23, 2019 The competition watchdog today said it was launching a probe into four pharmaceutical companies which it said colluded to raise the price the NHS paid for a nausea treatment medicine. The Competition and Markets Authority (CMA) said it had provisionally found that Alliance, Focus, Lexon and Medreich had agreed not to compete for the supply [...]
City Moves for 22 May – Who’s switching jobs at Neuro-Insight, Cushman & Wakefield and Airship? May 21, 2019 Today's City Moves include Neuro-Insight, Cushman & Wakefield and Airship. Neuro-Insight Neuro-Insight, a neuromarketing and neuroanalytics company that uses unique brain-imaging technology to measure how the brain responds to communications, has promoted Shazia Ginai to the role of UK chief executive. She will replace the current UK chief executive, Heather Andrew as she steps down [...]
Asda sales dip on Easter timing as IPO interest mounts May 16, 2019 Asda reported a fall in like-for-like sales today following the later timing of Easter, amid growing City speculation over a possible floatation for the Walmart-owned grocery giant. Like-for-like sales at the group tumbled 1.1 per cent as a result of the holiday shift in the three months to the end of March, Walmart said today, [...]
Morrisons fails to convince despite Ocado deal May 16, 2019 By Graeme Evans from interactive investor. It talks the talk, and a 6 per cent dividend yield is attractive, but can this £50 billion grocer walk the walk? Morrisons (LSE:MRW) offered more evidence of its "ever-improving shape" after a robust trading update and intriguing deal to re-write its online partnership with Ocado. While the supermarket's shares [...]
Walmart mulls Asda IPO after Sainsbury’s merger blocked May 15, 2019 Retail giant Walmart has said it is considering a stock market listing for Asda, just weeks after the supermarket’s failed attempt to merge with rival Sainsbury’s. Walmart International boss Judith McKenna said the US chain is considering an initial public offering (IPO) for its UK subsidiary, but said it was “not rushing into anything”. Read [...]
Rise of the nerds: Why CEOs are more tech-focused than ever May 14, 2019 Chief executives of the UK’s top firms have more technological experience than ever before, helping them better deal with a digitally-focused world, a new study has shown. Read more: Joules lures in top Asda director as new chief executive The annual Robert Half CEO tracker, released today, has shown that the proportion of FTSE 100 [...]
Why bombed-out Sainsbury’s leads the FTSE 100 May 10, 2019 Hammered since the Asda merger was blocked, our head of markets explains the surge to a three-week high. Rather than fight the decision of the Competition and Markets Authority (CMA), Sainsbury (LSE:SBRY) and Asda decided to call off the wedding. This leaves a huge strategic question mark over where Sainsbury's goes next. Not surprisingly, the [...]
Joules lures in top Asda director as new chief executive May 8, 2019 Fashion group Joules has poached retail veteran Nick Jones to take over as chief executive, it announced this morning. A former top director at Marks & Spencer and Asda, Jones has spent 25 years working within the retail industry. Read more: Prime retail rents slip for embattled high street landlords After 15 years with M&S, latterly [...]