Shutters come down for boss of Morrisons February 12, 2015 Dalton Philips is to step down as chief executive of Morrisons earlier than planned, leaving finance chief Trevor Strain to take on the role from Monday on an interim basis. The Bradford-based supermarket announced last month that it was time “for a fresh pair of eyes” to help revive the ailing business and that Philips [...]
Dalton Philips to leave Morrisons on Monday while search for replacement continues February 12, 2015 Dalton Philips is leaving Morrisons next Monday, leaving Trevor Strain to take on the role on an interim basis. The ailing supermarket revealed Philips was leaving last month, prompting Morrison's share price to rise. Although it said the search for a replacement was “progressing well”, he is stepping down well before anyone is in place [...]
Tesco is winning at Valentine’s Day. Here’s why February 11, 2015 Valentine's Day is just around the corner and what says love more than multinational retailers pushing their pink heart-shaped products you neither want nor need? Absolutely nothing. That's why between now and Saturday we will all be bombarded with adverts for all the chocolates you can eat (before the cocoa runs out) recipes for two, [...]
Tesco returns to growth as Drastic Dave’s overhaul gets underway February 10, 2015 TESCO has returned to growth after one of the most turbulent years in its history, according to the latest market share figures, in a sign that chief executive Dave Lewis’s turn-around efforts are starting to pay off. Sales increased by 0.3 per cent in the 12 weeks to 1 February compared with the same time [...]
Commodities and banks drag FTSE 100 lower – London Report February 10, 2015 BRITAIN’S top equity index drifted lower yesterday, hit by a drop in banks and commodity stocks, although improved sales for battered supermarkets lent support to the market. Fresh signs of economic weakness in China, the world’s biggest consumer of metals, hit mining companies, with the FTSE 350 Mining Index down 2.8 per cent. It closed [...]
Morrisons, Tesco, Ocado and Marks & Spencer’s share prices soar after UK food sector shows signs of growth February 10, 2015 Supermarkets led the FTSE 100 higher this afternoon, after figures revealed the grocery sector was in growth once again. Morrisons' share price had recorded the biggest gains at pixel time, rising 5.5 per cent. This was on the back of Kantar figures out this morning, showing its sales had fallen 0.4 per cent, the [...]
Ravel is released as Hammers cut ties early with midfielder February 8, 2015 WEST Ham have announced the immediate termination of England Under-21 midfielder Ravel Morrison’s contract at Upton Park. Hammers boss Sam Allardyce refused to comment on the 22-year-old’s departure from the club at his post-match press conference in the wake of his side’s draw with Manchester United yesterday. Morrison’s existing deal at West Ham was set [...]
Dairy Crest milk sales go sour but cheddar cheese churns up a profit February 5, 2015 DAIRY Crest said yesterday that it has sold enough milkshakes and blocks of cheddar cheese to offset losses across its dairies business as the company battles with falling milk prices. The FTSE 250 company said its cheddar brand Cathedral City and FRijj milkshakes both performed strongly in the nine months to 31 December, although sales [...]
Ocado says it is at forefront of food revolution February 3, 2015 Ocado chief executive Tim Steiner said the “online grocery revolution” taking place will only help to further distance his firm from rivals and stay ahead of the market, as it posted its first ever full-year profit. The online grocer made an adjusted pre-tax profit of £10.1m in the year to 30 November compared with £3.8m [...]
Ocado chief executive Tim Steiner heralds “online grocery revolution” as firm records first full year profit February 3, 2015 Ocado has made its first full-year profit in the company's 15-year history The figures Pre-tax profit was £7.2m for the 12 months to 30 November, compared to a loss of £12.5m during the equivalent period a year earlier. Sales went up from £843m to £972.4m, while earnings before interest, tax, depreciation and amortisation rose [...]