Morrisons’ sales growth slows despite record number of customers in stores May 6, 2010 SUPERMARKET giant Morrisons has seen record numbers of customers in its stores but the new financial year has been hit by a slowdown, it said in a trading statement yesterday. The group has continued to grow market share in the first quarter with sales, excluding fuel, up 5.9 per cent in the 13 weeks to [...]
FTSE falls for fourth day as fears over scale of Greek crisis continue to weigh May 6, 2010 BRITAIN’S leading shares fell for the fourth straight session yesterday, led by banks and miners weighed by uncertainty over euro zone debt concerns, as Britain’s electorate went to the polls. The FTSE 100 index closed down 80.94 points, or 1.5 per cent, at 5,260.99 just above a support level of 5,259 given by analysts. The [...]
Morrisons customers up but warns over slowdown May 6, 2010 SUPERMARKET giant Morrisons has seen record numbers of customers in its stores but the new financial year has been hit by a slowdown, it said in a trading statement. The Group has continued to grow share in the first quarter with sales, excluding fuel, up 5.9 per cent in the 13 weeks to 2 May. [...]
M&S finance boss quits for Punch Taverns May 5, 2010 MARKS & Spencer’s incoming chief executive Mark Bolland received an unwanted welcome gift after his first day at the firm – the resignation of its finance director. Ian Dyson yesterday made the shock announcement that he will leave the firm to become chief executive of Punch Taverns, the UK’s biggest pub chain. Dyson was passed [...]
FTSE 100 hit by falling banks as fears over Eurozone debt contagion continue May 5, 2010 BRITAIN’S top shares index shed 1.3 per cent yesterday laid low by weaker banks, as Eurozone debt contagion concerns intensified and Moody’s warned that Portugal’s debt could be downgraded. The FTSE 100 ended down 69.18 points at 5,341.93, a fourth consecutive session of falls, closing at a level not seen since 25 February. The FTSE [...]
Bolland takes the helm as M&S chief May 4, 2010 A NEW era was ushered in at Marks & Spencer yesterday as former Morrisons chief Marc Bolland took the hot seat at the retailer. The Dutch executive faces the pressure of living up to a £15m remuneration package as he takes on the challenges of shaking up the company’s clothing range. Modernising the stock while [...]
BEST OF THE BROKERS May 4, 2010 INTERCONTINENTAL HOTELS Credit Suisse has raised its target price for InterContinental Hotels by 20 per cent to 1,290p and has issued the hotel chain with an “outperform” rating. Credit Suisse upgrades 2010 earnings per share (EPS) forecasts for InterContinental by 18 per cent, due to stronger trading expectations for the Americas. With its forecasts ahead [...]
Magnificent Rory has the golfing world at his feet May 3, 2010 RORY MCILROY’S decision to ply his trade on the PGA Tour was met with criticism at the start of the season – now it has been well and truly justified. The young Irishman was magnificent in claiming his first Tour victory at the Quail Hollow Championship at the weekend, including one of the best final [...]
OUT OF OFFICE May 3, 2010 STOPPARD’S THE REAL THING Playing now at the Old Vic, Tom Stoppard’s 1982 play mixes the playwright’s customary linguistic fireworks with emotional warmth, and is anchored by a masterful – and very funny – performance from Toby Stephens. He plays Henry, a successful playwright who leaves his wife for an actress (Hattie Morahan) and discovers he [...]
Asda fights poor sales with best price guarantee April 28, 2010 ASDA yesterday unveiled a money-back price guarantee after poor sales growth. The chain is offering to refund shoppers who find that a basket of comparable goods would have been cheaper at Tesco, Morrisons or Sainsbury’s. Asda increased its sales by only 2.5 per cent in the 12 weeks to 28 April, compared with rises of [...]