Morrisons is Xmas winner as sales surge January 21, 2010 SUPERMARKET chain WM Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. [...]
US unit could be up for sale, says Wimpey January 21, 2010 TAYLOR Wimpey, one of Britain’s biggest housebuilders, is understood to be considering spinning off its North American business through a sale or stock market flotation, which could enable it to slash its debt mountain. The company’s adviser JP Morgan Cazenove is thought to have started sounding out rival and other institutions on their appetite for [...]
Morrison beats rivals with festive sales boost January 21, 2010 SUPERMARKET chain Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. Morrison, [...]
NEWS | IN BRIEF January 18, 2010 HSBC battles for $900m Thai bank HSBC is fighting off rivals for an estimated $900m (£551m) stake in Thailand’s seventh largest bank, after state-owned Korea Development Bank joined the race for the 47.6 per cent stake of Siam City Bank yesterday. Thanachart Bank, based in Thailand, is also in the running. Final bids are due [...]
Morrisons to trump its retail rivals January 17, 2010 WM MORRISON supermarkets is expected to announce outstanding trading results this week as it emerges from the Christmas period outperforming its rivals. Like-for-like sales of the UK’s fourth biggest supermarket chain are predicted to have improved seven per cent on the previous year, adding to the impressive turnaround overseen by soon-to-depart chief executive Marc Bolland. Bolland [...]
THE TIPSTER January 17, 2010 Retailers have had mixed fortunes over the Christmas period. Although shoppers spent huge amounts of cash in the run-up to the festive season, not everybody has gained in the same way. Supermarkets and cheap high-street chains have out-performed – department store John Lewis recorded its best ever revenues in December. But others could not keep [...]
Banks and miners lift FTSE but retail shares take a dive January 14, 2010 STRENGTH in miners helped Britain’s top share index to a 0.5 per cent rise by yesterday’s close after soaring output figures from Rio Tinto boosted the sector, but retailers fell on weak trading updates. The FTSE 100 ended 24.72 points higher at 5,498.20 after falling for two days, pressured by China’s decision to tighten banks’ [...]
Disappointing results from Alcoa rock mining stocks January 12, 2010 BRITAIN’S top share index closed 0.7 per cent lower yesterday as commodities and banks led the retreat over concerns that China’s move to tighten banks’ reserve requirements may slow global economic recovery. The FTSE 100 index closed down 39.36 points at 5,498.71, dropping back after hitting a 16-month intraday peak at 5,600.48 on Monday. China’s [...]
Waitrose and Sainsbury’s boost their brands January 12, 2010 RETAILERS have had a bumper Christmas according to the British?Retail?Consortium, but here is my review of 2009 as far as supermarkets are concerned. Graph 1 shows the share of total attention that each of the six received on BrandIndex. Over the course of 2009, Aldi and Asda dropped, Tesco and Morrison’s stayed steady, and Waitrose [...]
High street celebrates Xmas boost January 11, 2010 SNOWY weather and economic gloom could not deter British shoppers from hitting the high streets in their droves last month, giving retailers their best December performance in four years, the British Retail Consortium (BRC) will say today. Total retail sales values increased by an astonishing six per cent last month on December 2008 and 5.4 [...]