FTSE reshuffle: Who’s in and who’s out of the blue-chip index – Morrisons, Sports Direct, Aberdeen Asset Management, Paddy Power Betfair, Informa, Mediclinic International March 2, 2016 Supermarket Morrison's has stormed back into the FTSE 100, having only been given the boot in the index's last quarterly review. News of a tie up with Amazon gave the big four grocer the boost it needed, sending its share price to 205.4p, up around 10 per cent on the week. Morrison's will be joined in the blue-chip [...]
The Co-operative commits £75m to slashing prices in supermarket battle March 2, 2016 The Co-operative Group is ploughing a further £75m into cutting prices of every day products in its latest bid to get ahead in the supermarket price war. The mutual, which has over 2,800 food stores across the UK, said it will slash the cost of over 200 of its own-brand British sourced meat and poultry products, with [...]
Morrisons chairman Andrew Higginson joins Shore Capital as senior adviser March 2, 2016 Investment firm Shore Capital has signed up retail veteran and Morrisons chairman Andrew Higginson as a senior adviser to help bolster its expertise in consumer industries. Higginson, who is also currently chairman of home shopping group N Brown, joined Morrisons in 2014 to lead a shake-up at the supermarket following years of worsening sales. He previously spent 15 years on the [...]
Sainsbury’s wins complaint against Tesco’s price matching guarantee advert, after watchdog ASA bans it for being misleading March 2, 2016 Tesco's price-matching "brand guarantee" advert has been banned for being "misleading" after a regulator upheld a complaint made by rival supermarket Sainsbury's today. The advert, which appeared in national press in October last year as part of chief executive Dave Lewis' update from its earlier price promise, said consumers would "never pay more for your branded shop". [...]
Shop prices decline in February for 34th consecutive month as supermarket price wars gather pace March 2, 2016 Shop prices fell for the 34th month in a row in February, to the benefit of consumers, as food returned to deflationary territory and competition on the high street remained fierce. Prices fell by two per cent in the year to February, which was an acceleration on the 1.8 per cent decline reported in January and [...]
FTSE 100 demotions and promotions: Paddy Power Betfair and Morrisons eligible to be on the up while Aberdeen Asset Management and Sports Direct eligible for demotion March 1, 2016 Morrisons could be returning to the FTSE 100 after just quarter of languishing in the FTSE 250 – but it may edge out Mike Ashley's Sports Direct in doing so. Morrisons, which yesterday unveiled a major new tie up with Amazon, has seen its share price soar in recent weeks. Shares are up 34 per [...]
Morrisons may not be the most obvious partner for Amazon, but there is method behind the marriage – and it could mean trouble for Asda, Tesco and Ocado March 1, 2016 Only one pound out of every £10 that Britons spend on groceries drops into Morrisons’ tills. Not a bad ratio, you might think, but like its bigger rivals (over £6 in every £10 is spent in Tesco, Sainsbury’s or Asda), Morrisons has been struggling with a declining market share. The Bradford-headquartered supermarket is not the [...]
Amazon delivers blow to Ocado with announcement of Morrisons deal February 29, 2016 Ocado shareholders fled to the checkout yesterday after its partner Morrisons revealed it had inked a major deal with Amazon, signing a ground-breaking agreement that will pave the way for the US giant to ramp up its presence in the UK grocery market. The tie-up, which is set to go live in the coming months, will see [...]
FTSE 100 index closes flat on last day of the month as supermarkets come into focus February 29, 2016 The FTSE 100 index closed slightly higher on the quiet last day of the month after the G20 disappointed over the weekend. The UK's blue-chip index closed 0.02 per cent higher at 6,097 points. "It was almost as if investors forgot about the leap day and no investments were planned on a quiet last day of the month," said [...]
What the Morrisons-Amazon tie up is doing to Tesco, Ocado and Sainsbury’s share prices February 29, 2016 Morrisons might be having a whale of a day after revealing its tie-up with Amazon this morning – but virtually the rest of the retail sector has spent the day so far in the red. Morrisons' share price soared on the news that it would be offering hundreds of products to Amazon's UK customers via [...]