Tesco’s credit rating downgraded by S&P amid profit fears August 8, 2014 Tesco suffered a fresh blow yesterday after Standard and Poor’s (S&P) downgraded the troubled supermarket’s credit rating over concerns of rising competition in its home market and its recent profit warning. S&P said it had cut its long-term rating on Tesco to “BBB” from “BBB+”, but reiterated its “A-2” short-term corporate credit rating on the [...]
West Ham star is granted bail August 4, 2014 WEST Ham midfielder Ravel Morrison was released on bail yesterday after three days in custody on charges of assaulting his ex-girlfriend and her mother. The England Under-21 star faces two charges of common assault after an alleged incident involving Reah Mansoor, 19, and Parveen Mansoor, 39, on 27 July. He was initially remanded in custody [...]
West Ham starlet Morrison refused bail over double assault allegation July 31, 2014 WEST Ham midfielder Ravel Morrison’s future is in doubt again after he was denied bail and remanded in custody accused of assaulting his ex-girlfriend and her mother. England Under-21 star Morrison was arrested on Wednesday following the alleged incident on Sunday morning, in which it is claimed he punched and slapped Reah Mansoor, 19, and [...]
Aldi closes in on Waitrose as the discounters scent blood July 29, 2014 The challenges facing Britain’s big four grocers was further laid bare yesterday after new data revealed that Aldi was poised to overtake Waitrose to become the country’s sixth biggest supermarket. Kantar Worlpanel data released yesterday showed Aldi’s sales jumped 32 per cent year-on-year in the 12 weeks to 20 July, bringing its market share within [...]
Shapland is named Poundland chair in retail merry-go-round July 29, 2014 Poundland yesterday named Darren Shapland as its new chairman after losing its current boss to the troubled supermarket Morrisons in the latest round of retail musical chairs. Shapland joined the bargain chain’s board as a senior independent director ahead of its £750m float in March after a brief stint as chief executive of the flooring [...]
How Aldi is about to overtake Waitrose and become the sixth largest supermarket in Britain July 29, 2014 Aldi and Lidl continue to win in the battle of the supermarkets as their market share surged and sales were up, leaving the big four- Tesco, Asda, Sinasbury's and Morrisons- trailing behind when it comes to growth. Aldi’s stellar performance places it almost level with Waitrose as the big four continue to feel the pressure [...]
How Aldi is about to overtake Waitrose and become the sixth largest supermarket in Britain July 29, 2014 Aldi and Lidl continue to win in the battle of the supermarkets as their market share surged and sale rise, leaving the big four- Tesco, Asda, Sinasbury's and Morrisons- trailing behind. Aldi’s stellar performance places it almost level with Waitrose as the big four continue to feel the pressure from discounters. The latest figures from [...]
Tesco veteran Andrew Higginson to chair Morrisons after 15 years at supermarket July 28, 2014 Tesco’s former finance boss Andrew Higginson is expected to be appointed as the chairman of rival supermarket chain Morrisons. Current chairman Sir Ian Gibson has been in the position since September 2007, and last month announced his intention to stand down. Retail veteran Higginson spent 15 years on the board at Tesco, with 11 as [...]
Supermarkets cut fuel prices July 28, 2014 THE LATEST round of petrol price wars kicks off today, as three of the country’s largest supermarket chains lower the cost at the pumps. Tesco, Asda and Sainsbury’s have all slashed 2p per litre off the price of diesel and petrol. Morrisons has not yet followed suit, but says it “will be evaluating [its] pricing [...]
Ex-Asda bosses Archie Norman and Allan Leighton linked to Morrisons chairman role July 27, 2014 Former Asda bosses Archie Norman and Allan Leighton are said to be in the running to become the new chairman of troubled supermarket chain Morrisons. Norman and Leighton were credited with reversing Asda’s fortunes in the 1990s and are both seen as plausible candidates to help revive the chain, which has been losing market share [...]