Tesco market share rises as Asda sees dip May 24, 2011 TESCO’S market share rose for the first time since November last year, according to Kantar Worldpanel market share data. For the 12 weeks to 15 May Tesco’s market share rose to 30.7 per cent, from 30.6 per cent. The only other retailer in the top four to increase its share was fourth-placed Morrisons. Its share [...]
THE TALE OF PIPPA MIDDLETON, ALEX LOUDON AND THE BEERMAKER May 23, 2011 COULD Pippa Middleton be persuaded to relocate to leafy Woking? The Capitalist only asks because a finance professional with the same name as her boyfriend and rumoured fiancé, Alex Loudon, is currently employed by the Woking UK head office of brewing giant SABMiller. Recent press reports have described the younger Middleton sister’s love interest as [...]
Profit strong at Campbell Soup despite sales slump May 23, 2011 CAMPBELL Soup yesterday reported a better-than-expected quarterly profit and forecast full-year results at the high end of its range, after moving its focus from profit-sapping promotions to advertisements. But the world’s top soup maker saw US sales fall for the fourth straight quarter, a sign that it may take some time for operations chief Denise [...]
CITY MOVES | WHO’S SWITCHING JOBS May 23, 2011 Agent Provocateur Retail veteran Chris Woodhouse has been appointed as non-executive chairman of luxury retailer Agent Provocateur. Woodhouse, director of Debenhams and chairman of restaurant group Gondola, which owns Pizza Express and ASK, will take a small stake in the lingerie business, which he will oversee alongside his existing role. Agent Provocateur, owned by private [...]
Morrisons is leading race for Iceland May 22, 2011 SUPERMARKET chain Morrisons is being touted as the frontrunner in the race to buy into rival Iceland, after majority owner Landsbanki officially launched a sales process for its holding in the company. The Resolution Committee for Landsbanki said last week that according to advisers UBS and Bank of America Merrill Lynch, “market conditions are currently [...]
Deal would shake up the supermarkets May 22, 2011 COMPETITION objections notwithstanding, Iceland’s 780 stores would be a huge boost to Morrison’s forecast earnings, giving it the foothold in the convenience store industry that chief executive Dalton Philips made central to its growth plans last year. They would also cement Morrison’s presence in the south of the country. Though the Bradford-based company has made [...]
Commodities rock FTSE as hits lowest level since April May 17, 2011 BRITAIN’S leading share index was driven down by weakness in commodity issues and banks on concerns over global growth which countered results-driven gains by market heavyweight Vodafone. At yesterday’s close, the FTSE 100 index was off 62.69 points, or 1.1 per cent, at 5,861.00, extending its losing streak to a fifth session. It ended below [...]
UK retailers are serving up higher high street prices May 16, 2011 ACCORDING to a report issued by economic forecasting group Ernst and Young ITEM Club yesterday, UK retailers are in for a difficult time in the years ahead. The report points to rising inflation and energy bills – without corresponding wage increases – leaving households with less disposable income. “World prices for food, fuel and fibres [...]
MEET: TEAM CITY A.M. NEW YORK May 12, 2011 City A.M. is proud to once again sponsor the New York team at MINT Polo in the Park. Victorious in last year’s event after a thrilling final against IG Index – Paris, team captain Jack Kidd will be hoping that he can lead it to victory again this year. NAME : Jack Kidd POSITION : [...]
Oil price fall fuels hopes of cheaper petrol May 11, 2011 CRUDE oil prices dropped below $100 a barrel and US petrol futures slumped yesterday, fuelling hopes that UK forecourt prices may fall substantially soon. Crude futures plunged more than five per cent in the week’s second major oil price fall, with light sweet crude for June hitting a low of $97.50 (£59.55). Brent crude traded [...]