Tesco beware: Aldi to double UK store count September 11, 2014 Tesco beware – Aldi has set its sights on the UK as a market ripe for growth, and it's backing its expansion plans with £70m. The budget supermarket today announced plans to almost double the number of stores in the UK from 531 to 1,000, and expand its UK headquarters in Atherstone, Warwickshire. The [...]
Morrisons’ share price opens 4.2 per cent up, despite plummeting pre-tax profits September 11, 2014 Shares in Morrisons opened 4.25 per cent higher this morning, even though results published today showed pre-tax profit plummeted by just under a third for the six months ended 3 August, as the company struggles to rise above a slowdown in the grocery market. The struggling supermarket's half-year results revealed a pre-tax profit of £239m [...]
Ocado share price jumps 8.5 per cent as Morrisons tie-up pushes sales up September 11, 2014 Ocado shares opened 8.5 per cent higher this morning after it reported a 22.5 per cent rise in gross sales for the 12 weeks to 10 August 2014. The online grocer enjoyed £231.9m worth of group sales, compared to £189.2m during the same period last year. Average orders per week rose 17.4 per cent from [...]
Analysts to the fore in big sectorial shakeups September 9, 2014 ANALYST of the year The role of the analyst has become increasingly important at such an uncertain time in the economy, when everyone is looking for guidance. With the UK retail sector in turmoil over the decline of Sainsbury’s, Morrison’s, Waitrose and especially Tesco – caused mainly by the rise of the German discounters – their views [...]
Best of the Brokers for 10 September 2014 September 9, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com WM MORRISON Citi has upgraded to “buy” from “neutral”, but cut the target price to 190p from 220p. The broker thinks negative sentiment is already priced in, and that cash flow generation is likely to remain strong and support dividends, with the prospect [...]
London Report: Lower crude prices pull FTSE down but Morrison’s gets lift September 9, 2014 BRITAIN’S top shares yesterday inched lower on Tuesday as energy stocks weakened and investors bet on whether Scotland would vote to leave the United Kingdom in the 18 September referendum. But stocks showed little reaction to comments by Bank of England Governor Mark Carney, who suggested the bank might start to raise interest rates next [...]
City AM awards: Business of the Year nominees announced September 7, 2014 I have great pleasure in introducing the first of our shortlists for the annual City A.M. awards. As ever, the awards have attracted nominations from all sorts of diverse businesses and people who have done great things during the course of the past year, a year of recovery in the UK. We have taken on [...]
And the nominees are… September 7, 2014 TOMORROW: ACCOUNTANCY FIRM OF THE YEAR ALDI The German discounter has taken the British high street by storm. Aldi now has a 4.6 per cent share of the UK market, up more than one third in a year due to consumers choosing its quality and low prices over the more established retailers. It has even [...]
London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]
London Report: Mining shares lift FTSE despite doubt over ECB September 2, 2014 BRITAIN’S top share index steadied near a two-month high yesterday, with some caution before the European Central Bank’s policy meeting tomorrow offsetting a rally in miners prompted by stronger metals prices. The blue-chip FTSE 100 index ended 0.06 per cent higher at 6,829.17 points after rising up to 6,849.28 points, the highest level since early [...]