Energy and bank stocks push FTSE 100 back below 5,000 September 10, 2009 THE FTSE 100 drifted lower yesterday, unable to stay above the 5,000 level as energy and bank stocks weighed heavily. It closed down by 16.62 points, or 0.3 per cent to 4,987.68, having closed above 5,000 for the first time since late September 2008 on Wednesday. “We’re taking a bit of a pause from what [...]
Spike in share sales triggers market fears September 10, 2009 A FLOOD of share sales in the US coupled with the busiest week for initial public offerings (IPOs) in almost two years could mean that the recent market rally is nearing the end. September is on pace to be the busiest month for secondary issuance since May, which some portfolio managers see as a sign [...]
Profit up 45pc at Morrison as sales boom September 10, 2009 WM MORRISON, the smallest “big four” supermarket, reported another stellar rise in like-for-like sales yesterday, helping it to book a 45 per cent pre-tax profit rise to £449m in the first half. Morrisons, which has staged an industry-beating sales boom in the recession, said profits were in-line with expectations and that 19 stores it bought [...]
HOW WOULD YOU RATE WM MORRISON’S PERFORMANCE? September 10, 2009 NICK BUBB PALI INTERNATIONALThe results were in-line with expectations, but that shouldn’t take anything away from what was a very good performance. Dare I say it, it was better than Sainsbury’s. The stores they bought from the Co-operative Group opened earlier than expected, and that bodes well for the longer-term push into smaller stores. SAM [...]
Summer sales data to reveal retail outlook September 6, 2009 RETAILERS are set to provide fresh evidence of consumer confidence this week in a series of market updates. In a bid to revive the ailing retail sector the West End is launching High Street Fashion Week today in an effort to attract a predicted 2.4m shoppers to Oxford Street. ABF Foods, Primark’s owner, will today [...]
Market to eye consumer purse while MPC mulls rates September 6, 2009 THIS week will be all about consumers’ purse-strings and just how tightly they are pulled. Results from across the retail and leisure sectors will go some way to answering that question, while the Bank of England Monetary Policy Committee’s decision on interest rates and quantitative easing will tell us what the experts think about any [...]
Tesco’s rivals eat into its market share August 18, 2009 TESCO, the UK’s biggest retailer, is continuing to lose market share, according to new figures, despite relaunching its Clubcard. The supermarket recently beefed up its loyalty card scheme, offering shoppers two points for every £1 spent, as opposed to just one. It had hoped the tactics would stop customers shopping at rivals like Asda and [...]
WILL TESCO’S CLUBCARD STOP IT FROM LOSING MARKET SHARE? August 18, 2009 KEITH BOWMAN HARGREAVES LANSDOWNI’m sure it’s being done as a way to fight back against the competition. There are groups of shoppers who chase the cheapest deal, so this may encourage more customer loyalty. NICK BUBB PALI INTERNATIONALIt’s Tesco’s trump card. Whether it will attract away from the competition is another matter. WM Morrison doesn’t [...]
How Mr Wigan has put JJB and the City behind him to live the dream August 16, 2009 EVAN at 72 Wigan serial entrepreneur Dave Whelan still gives an impression of a man in a hurry. Whelan moves at a sprightly pace between tables in the director’s box at Wigan Athletic, the Premier League football club he owns, and his trim figure still hints at a man who played professional football for Blackburn, [...]
JOBS DRIVE FOR MORRISONS August 12, 2009 WM MORRISON yesterday said it would create 7,000 jobs in 2009, exceeding its initial target by 40 per cent. Britain’s fourth largest grocery said it had reached its original target of 5,000 new jobs five months early and would now add an additional 2,000 posts. One-third of the new recruits will be in the 18 [...]