Supermarket surge after top boss bows out boosts FTSE 100 – London Report January 13, 2015 MORRISONS’ surge buoyed the FTSE 100 yesterday, after the grocer announced that its chief executive had been shown the door following its poor performance during the busy Christmas trading season. The blue-chip FTSE 100 index was up 0.6 per cent at 6,542.20 points at the close. But weaker commodity stocks on the back of fresh [...]
Asda overtaken by Sainsbury’s as UK’s second largest supermarket but big four continue to slide January 13, 2015 Asda has lost its title as the second largest supermarket in the UK to Sainsbury's, while discounters Aldi and Lidl continue making gains on the big four. Of the big four – Tesco, Sainsbury’s, Asda and Morrisons – sales fell by the smallest amount at Sainsbury’s, down 0.7 per cent. This helped it regain second place [...]
Sainsbury’s axes 500 jobs as part of cost-cutting drive January 13, 2015 Sainsbury's has announced plans to axe 500 jobs as part of a cost-cutting exercise, as the UK supermarket battle continues to heat up. Sainsbury's, which is the UK's second largest supermarket, said the job cuts would be across "all divisions and grades in our store support centres". A consultation on the job losses will start [...]
Asos share price rises following positive end to 2014 January 13, 2015 The figures British online fashion retailer Asos ended 2014 on a very positive note, with the Christmas period pushing sales up by 15 per cent in the six weeks to 9 January. The news caused shares to rise by 7.1 per cent to £26 when markets opened this morning, and they were still performing [...]
Debenhams share price plummets despite online sales uplift January 13, 2015 The figures Shares in troubled department store Debenhams fell nearly eight per cent in mid-morning trading, despite figures published this morning suggesting it had a record Christmas. The retailer said like-for-like sales in the four weeks to 10 January rose 4.9 per cent. Particularly successful were online sales, which went up by 29 per cent. Demand [...]
Greggs’ Christmas sales jump, as it anticipates results above previous expectations January 13, 2015 Bakery Greggs has enjoyed strong sales over the Christmas period. Like-for-like own shop sales climbed 8.2 per cent, after it put the "food-on-the-go" customer at the centre of its focus over the holiday season. For the financial year, total sales grew 5.5 per cent, with like-for-like sales up 4.5 per cent. The company's estate improvement [...]
Morrisons: Share price jumps as chief executive Dalton Philips resigns, while Andrew Higginson steps up January 13, 2015 Shares in Morrisons bounced six per cent in early trading, after it announced chief executive Dalton Philips will step down after five years at the helm, while Andrew Higginson, an ex-Tesco executive, will take over from chairman Sir Ian Gibson later this month. Philips will stay on until the company's end of year results in [...]
Paperchase poised for sale after wrapping up Christmas season January 12, 2015 High street stationery chain Paperchase enjoyed a surge in trading over Christmas, paving the way for a potential sale of the business this year. Primary Capital, which has owned Paperchase since 2010, has hired PwC and Financo to handle a potential sale of the 46-year-old business last year after receiving several bid approaches. The company [...]
Shares jump higher at AO World January 12, 2015 SHARES in AO World rallied yesterday after the online white goods company reported a surge in third quarter sales, thanks in part to the success of Black Friday weekend. The so-called e-tailer, which sells kitchen appliances and televisions online from its warehouse in Crewe, said revenue from its website jumped 38 per cent three months [...]
Fat Face shuns promotions for festive boost January 12, 2015 FAT FACE chief executive Anthony Thompson said the firm owes its success over Christmas to holding its ground on promotions until Boxing Day, as festive sales jumped. The casual clothing retailer, which pulled plans for a £300m float last year, reported a 13 per cent rise in sales in the five weeks to 3 January, [...]