Tesco tops suppliers’ naughty list over groceries code June 22, 2015 Tesco has been on the receiving end of more than half of issues raised by suppliers with the new Groceries Code adjudicator in the last year. The troubled supermarket was at the centre of 54 per cent of complaints made, with 11 per cent of Tesco's suppliers going to the new government ombudsman, according [...]
Tesco first quarter results and AGM: Three things to expect from Friday’s figures June 21, 2015 Tesco will update the market on its first-quarter figures – the first since reporting its biggest ever loss – while executives will face shareholders at its AGM. Here's what to expect from the supermarket on Friday. 1. The numbers will continue tumbling The supermarket’s first quarter is unlikely to tell a different story from the [...]
Sinking supermarkets: Tesco has had a disastrous year. Can it recover? June 18, 2015 The UK’s supermarkets were once investment darlings. The likes of Tesco and Sainsbury’s emerged on the stock markets, radically changed our shopping habits and then rose to dominance on the FTSE 100. But times have changed, and the supermarkets have been down on their luck. Are they still worthwhile investments? “Part of the [...]
FTSE pushed down by Greek debt fears and grocery losses – London Report June 17, 2015 BRITAIN’S top share index turned lower by mid-session yesterday as losses in grocers and caution before a Federal Reserve announcement later in the day weighed on the market. The blue-chip FTSE 100 closed 0.4 per cent lower at 6,680.55 points. The FTSE, which fell to its lowest since late January on Tuesday, has lost around [...]
Waitrose PYOO (“pick your own offers”) ups game in supermarket price wars with Aldi, Lidl and big four June 17, 2015 Middle England favourite Waitrose has upped the stakes in the supermarket price wars with what it's calling "game-changing" discounts. The latest salvo in the battle with Aldi, Lidl and the big four – and adding a new acronym to our lingo almost as good as BOGOF – is "Pick Your Own Offers", or PYOO, which is [...]
Tesco must find £5bn to rebuild its balance sheet, says Moody’s June 15, 2015 Troubled Tesco will need to find £5bn in order to relieve the pressure on its overstretched balance sheet, according to credit ratings agency Moody's. Read more: Here's what assets has Tesco sold off and what's heading to the checkout "It has a relatively high level of debt – also adjusted debt, such as the pension deficit and [...]
Helical Bar wins tenant for former Shoreditch carpet factory June 15, 2015 Helical Bar has pre-let two thirds of its Shoreditch-based C Space office block to DLKW Lowe. The creative advertising agency, which counts Unilever and Morrisons as clients, will move from its west London offices to the former carpet factory once it is finished in August.
Big four supermarkets will keep getting squeezed says Moody’s June 10, 2015 The leading big four supermarkets are expected to lose another four per cent of their market share by 2020 to discounters Aldi and Lidl, as competition in the grocery retail market intensifies. A report published today by credit rating agency Moody’s predicts Aldi and Lidl’s combined market share will reach 12-15 per cent by 2020, [...]
Stan Chart and Sainsbury’s lead FTSE 100 risers – London Report June 10, 2015 BRITAIN’S main equity index rallied from three-month lows yesterday, led by advances in banking group Standard Chartered and supermarket chain Sainsbury. Standard Chartered rose 5.8 per cent, with traders citing the possibility that British finance minister George Osborne might announce changes in a tax on the British banking industry when he spoke last night. Any [...]
Sainsbury’s sales fall for sixth successive quarter – with 2.1 pc fall June 10, 2015 Sainsbury's sales have fallen again, showing the supermarket giant is yet to shrug off the challenges facing the big four. The figures: Like-for-like sales were down 2.1 per cent for the first quarter of 2015. Food deflation and a competitive market were blamed for the poor sales figures, which were down 2.1 per cent for the [...]