Morrison resists calls for radical property plans January 12, 2014 WM MORRISON is expected to resist calls by activists for a radical overhaul of its property portfolio, insisting instead that it will make some modest disposals within its freehold estate. In the aftermath of disappointing Christmas trading figures last week the supermarket group has faced demands from some dissident investors to take the knife to [...]
Bottom Line: Supermarket needs to focus on web and sales, not real estate January 12, 2014 THE debate being waged over whether Morrisons should sell some of its freehold estate surely misses the point about the grocery chain’s future. There is nothing wrong with the structure of Morrisons’ estate that a little tinkering can not remedy. And it will remain, as it has insisted, “overwhelmingly freehold” – that is as long [...]
London Report: Retailers reveal where tills rang for Christmas January 12, 2014 RETAILERS are expected to reveal where UK shoppers showed their Christmas cheer, with a round of results in contrast to last week’s gloomy December tidings. Figures out this week from retailers such as Argos, Asos, Dixons, Ocado and Primark are expected to show increased sales. The successes are in contrast to the sales dips seen [...]
A two-speed high street January 9, 2014 A CLEAR split between Britain’s winners and losers in the battle for consumers’ cash this Christmas emerged yesterday, as three of the biggest retail chains revealed worse-than-expected trading. Poor results from Tesco, Morrisons and Marks & Spencer added to dreary updates from Sainsbury’s and Mothercare, with heavy discounting, weak consumer spending and the rising discount [...]
Morrisons share price slides as it warns on profit January 9, 2014 WM MORRISON boss Dalton Philips said it missed out on the usual seasonal surge in footfall over Christmas because of competition from discounters and the lack of an online presence, as the supermarket chain was forced to issue a profit warning. The UK’s fourth largest grocer brought forward its trading update by 11 days to deliver [...]
Bottom Line: CEO’s survival will depend on a revolution January 9, 2014 YESTERDAY marked a very unwelcome milestone for Marks & Spencer’s boss Marc Bolland. Three-and-a-half years into the job, the former Morrisons chief exec has clocked up his 10th successive quarter of declining clothing sales, leaving investors waiting for his promised turnaround yet again. That they’re giving him more time – as evidenced by yesterday’s 3.6 [...]
London Report: William Hill and retailers weigh the FTSE down January 9, 2014 BRITAIN’S FTSE 100 fell yesterday and underperformed shares in southern Europe, as a rise in the pound against the euro hampered prospects for the index’s exporters and most retailers fell after weak Christmas updates. The FTSE erased gains in the afternoon as the pound rose to its highest in a year against the euro on [...]
Food retailers are getting crushed this morning January 9, 2014 It's not been a great morning for the supermarkets. Food retailers Ouch!!!! pic.twitter.com/OZwHAdNE1P — Alastair McCaig (@AMcCaig_IG) January 9, 2014 Morrisons, the third biggest grocer on the FTSE 100, is leading the index lower after an shock Christmas update – like-for-like sales were down 5.6 per cent. Shares have fallen over five per [...]
2014 brings bad news for Britain’s supermarkets January 9, 2014 Tesco has announced a disappointing set of results for the Christmas and New Year period. In the UK like-for-like sales were down 2.4 per in the six weeks to 4 January. Group sales for the period fell by 1.2 per cent. Chief executive Philip Clarke commented: We continued to invest in the most compelling offer [...]
Supermarket retailers Waitrose and Co-op see mixed fortunes January 8, 2014 THE FESTIVE trading period produced mixed fortunes for supermarket retailers Waitrose and the Co-operative, which is fighting to turn itself around after a dire year for its banking arm. The Co-op’s food arm, which has been steadily losing market share, gained some respite after posting a one per cent rise in like-for-like sales in 13 [...]