THE LONDON REPORT June 21, 2009 THE JUNE gauntlet of retail company statements is set to continue this week, with two UK electronics giants due to issue full-year 2009 results. DSG, Kesa and Inchcape are lining up to report, following last week’s announcements from Tesco, J Sainsbury, Whitbread and Morrison. Kesa Electricals, which runs electronics store Comet among its Europe-wide retail [...]
Confidence wavers but the drug makers have the cure June 17, 2009 RECENT confidence of a quick global economic recovery wavered yesterday, with commodity stocks down on weaker raw material prices but pharmaceuticals and telecoms gaining. “The bulls have lost their swagger and after a week long stalemate, the bears appear to be winning the recovery debate. Financial markets have now broken out of last week’s unusually [...]
Quality brands are becoming more popular again June 16, 2009 FOR a while we saw the march of the “value” brands, as the recession helped Aldi and co make advances on their more expensive rivals. The graph shows what actually happened to brand values. We have created two baskets of brands – seven associated with lower-end or “value-for-money’ (Aldi, Morrisons, Primark, Matalan, RyanAir, Walls, Subway), [...]
Economy fears hit oil, miners and banks but defensives fly June 16, 2009 THE FTSE 100 closed 0.1 per cent higher yesterday, recovering only a small part of Monday’s sharp falls as strength in defensive stocks was countered by falls in oils, miners, and banks. At the close the FTSE 100 was up 2.56 points at 4,328.57, rallying slightly after hitting a six-week closing low on Monday when [...]
Retail giants set for battle June 14, 2009 SUPERMARKET heavyweights Tesco and J Sainsbury are set to battle it out this week for retail supremacy, when they both announce sales results for the past quarter. Tomorrow, Tesco is expected to report an underlying rise in sales of between 4 and 4.5 per cent, lagging behind J Sainsbury’s predicted 7 per cent growth. Tesco, [...]
Consumer-related stocks to shed some light on spending June 14, 2009 RETAILERS will be very much in the spotlight again this week, with trading updates expected from the great and good of the supermarket world and retail sales data expected to shed more light on the high street picture. Tesco will get the ball rolling tomorrow when it releases its first quarter sales data, but is [...]
THE TIPSTER June 14, 2009 AGGRESSIVE DISCOUNTING TO LIFT TESCOTHERE were rumours flying around the markets last week of a profit warning by Carrefour – the world’s second largest supermarket – but this side of the Channel, things in the grocery market are looking a lot rosier. Morrisons has been doing well, as has Sainsbury’s. But size does seem to [...]
Royal Mail heads for clash with Labour June 7, 2009 ROYAL Mail increased pressure on the government to quickly pass a bill to part-privatise the postal operator, warning that closing final-salary pension schemes for 150,000 staff will be at the top of its “options list” if no deal takes place. The threat comes amid frustration that the political process to get the privatisation through Parliament [...]
Sales surge at WM Morrison June 4, 2009 SUPERMARKET group WM Morrison yesterday reported a better-than-expected 8.2 per cent jump in first quarter like-for-like sales, after it poached new customers from premium retailers. Chief executive Marc Bolland said Britain’s fourth largest supermarket had attracted an extra 500,000 customers a week over the period, largely driven by strong growth in London and the South. [...]
Final salary schemes on the way out June 4, 2009 PENSIONS analysts sounded the death knell for final salary pension schemes yesterday, after supermarket chain WM Morrison became the third major company in a week to end its scheme. The retailer’s decision to bring the curtain down on the scheme follows similar moves by Barclays, which transferred 18,000 staff to a hybrid scheme and energy [...]