Eurozone prices fall on fuel but a rise is expected in November November 16, 2009 Cheaper food and fuel pulled down the eurozone consumer price index in October for a fifth month running in annual terms, data confirmed yesterday, but inflation is expected to return in November. Prices in the 16-country area rose 0.2 per cent last month compared with September but dipped 0.1 per cent year-on-year, European Union statistics [...]
THE TIPSTER RETAILERS TRY TO BEAT THE RECESSION November 15, 2009 SO FAR, so good for the British retailers, it would seem. The likes of Marks&Spencer, Next and J Sainsbury have all released better-than-expected third quarter figures, and the latter is once again looking like an attractive proposition. Although lower food inflation might be expected to hit bumper sale figures, both the supermarket and its rival [...]
Non-food to drive growth at Sainsbury’s November 11, 2009 J SAINSBURY has pinned its growth hopes on a bold expansion of its non-food offering, with plans to take on market leaders Tesco and Asda in larger-format stores. Unveiling a robust 18 per cent rise in first half profits to £307m yesterday, chief executive Justin King outlined a £2bn expansion programme for the next two [...]
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 [...]
Strong retail sales growth but 2010 outlook uncertain November 9, 2009 RETAIL sales enjoyed their strongest October growth for seven years with retail sales values rising 3.8 per cent on a like-for-like basis, according to the British Retail Consortium (BRC). But the BRC warned that last month’s strong performance was compared to October 2008, when sales fell 2.2 per cent due to turmoil in the financial [...]
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 [...]
Sun, sea and Arabian Delights November 1, 2009 THERE are many parts of the world about which I am pessimistic but Dubai, despite its recent economic woes, is not one of them. Nobody else in the Middle East has pulled off what Dubai has achieved: a peaceful, capitalist, multi-ethnic state based on commerce, property, finance, entertainment and tourism. While it has been engulfed [...]
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 [...]
Returning consumer confidence gives UK retail sales a much-needed boost October 12, 2009 BRITISH retailers will breathe a sigh of relief today following the latest figures from the British Retail Consortium (BRC), which showed a healthy improvement in like-for-like retail sales last month. The data showed that UK retail sales values rose 2.8 per cent on a like-for-like basis in September compared to the previous year when turmoil [...]
Banks and oil lead the markets lower October 7, 2009 EUROPEAN shares closed lower yesterday with banking and oil stocks leading the fallers, as investors booked profits ahead of the US third-quarter corporate results season. The pan-European FTSEurofirst 300 index of top shares was down 0.4 per cent at 988.76 points. The benchmark index is up 19 per cent this year and has surged 53 [...]