Whitbread’s Costa coffee chain to pay baristas above National Living Wage September 30, 2015 First it was Starbucks. Now coffee chain Costa has also followed suit by announcing a pay hike for its staff ahead of the government’s national living wage. From tomorrow Costa baristas in London (of all ages) will earn a minimum of £8.20 an hour, rising to over £9, the Whitbread-owned chain said. Meanwhile staff working [...]
Sainsbury’s biggest FTSE riser as share price soars by most since 2009 as sales fall by less than expected September 30, 2015 It comes to something when a dip in sales is embraced rapturously by investors – but Sainsbury's shareholders were thrilled as the supermarket suggested full-year profits will be ahead of expectations. The figures Sainsbury's like-for-like sales in the quarter to the end of September, it said, with sales excluding petrol dipping 1.1 per cent. That was "moderately" [...]
One year in, Tesco boss has Dave Lewis no room for excuses – The City View September 29, 2015 A year ago this month, Dave Lewis was anointed Tesco’s chief executive after being parachuted in from Unilever and tasked with turning around Britain’s biggest retailer. The supertanker was sinking fast. Lewis’ predecessor Phil Clarke had overseen a disastrous reign littered with profit warnings, a collapse in the share price and falling market share. Tellingly, [...]
Morrisons follows Lidl and pledges to pay above National Living Wage September 29, 2015 Morrisons has followed in the steps of German discounter Lidl after announcing a 20 per cent pay hike for its staff in line with the new Living Wage. The supermarket, which is striving to turn itself around after years of declining sales, said more than 90,000 staff across all age brackets would benefit from a [...]
Few reports but Sainsbury’s and Tesco to update – London Report September 27, 2015 EQUITY reports are light again this week, ahead of earnings season which begins in earnest in the second half of October. Sainsbury’s first-half numbers, released on Wednesday, will be interesting, as the sector prepares to reveal how trading has fared over the past six months. Few people are expecting an upbeat statement. However, according to [...]
Sainsbury’s beats Tesco, Asda and Morrisons as only top supermarket in growth while Kantar warns of impact Amazon Fresh will have on sector September 22, 2015 Yet more bad data for the Big Four was released today – plus a hint that there could be a fresh problem facing the UK's supermarket sector, in the form of Amazon Fresh. Sainsbury was the only supermarket among the Big Four to keep pace with the sector's growth over the last quarter, with Asda's [...]
Lidl promises to pay above the National Living Wage to all its UK staff September 18, 2015 Lidl has already beaten the big four supermarkets on price. Now, the German discounter also plans to trump them on employee benefits, after revealing that it will pay its staff above the living wage from October. The fast-growing chain announced yesterday that it will adopt the new higher rate it expects the Living Wage [...]
Lidl plots London expansion drive with 280 stores September 11, 2015 German discounter Lidl is going after London middle class shoppers with plans to open a huge swathe of stores in upmarket boroughs, including Notting Hill and Mayfair. The retailer, which has been rapidly gaining market share, yesterday announced ambitious plans to open 280 stores in London and the M25 area. The areas it [...]
John Lewis Group warns of lower profits for 2015 due to higher pension costs September 10, 2015 The John Lewis Partnership has warned of lower profits this year on the back of pension charges and low price inflation. The figures John Lewis reported a 1.9 per cent increase in revenue to £4.5bn for the first half of the year ending 1 August against the same period last year. Like-for-like sales were down [...]
Aldi and Lidl market share: The only way is up for discount supermarkets September 9, 2015 No-frills retailers such as Aldi and Lidl are set for decent growth in the UK, with experts predicting that an overall rise in spending will offset any substitution towards pricier retailers as the economy recovers. “With consumer confidence at its highest point in many countries since the global recession and economic growth expected to continue… [...]