FTSE 100 leaps after WHO eases coronavirus fears January 24, 2020 The FTSE 100 stormed ahead today, more than clawing back the losses incurred yesterday as investors’ fears over the spread of the coronavirus mounted. The World Health Organisation yesterday stopped short of declaring the outbreak in China an emergency for the rest of the world. European equities gained in response today, before posting further jumps [...]
Tesco ditches plastic wrap on multipack tins January 24, 2020 Tesco is set to remove all plastic wrapping from its multipack tins in a bid to cut down on waste, a step it says will remove 350 tonnes of plastic per year from the environment. The supermarket giant has teamed up with brands including Heinz and Green giant to replace single-use plastic wrap on multipacks [...]
Morrisons axes 3,000 management jobs January 23, 2020 Morrisons is preparing to cut 3,000 management jobs across its supermarkets, as it adds more hourly paid roles. The retailer announced today that it will create 7,000 new hourly paid jobs across its stores, which will result in a net 4,000 new jobs. The affected managers will be able to apply for the new roles, [...]
Failed Asda merger ‘trigger’ for Sainsbury’s CEO Mike Coupe’s exit January 22, 2020 The departure of Sainsbury’s boss Mike Coupe’s was sparked by the failure to merge the supermarket with rival Asda, analysts said today. Industry experts said it was impossible to look beyond the failure of the Asda merger, and felt his resignation – announced today – was simply a matter of time. Coupe was caught on [...]
Sainsbury’s CEO Mike Coupe to retire after six years January 22, 2020 Mike Coupe is set to retire as chief executive of Sainsbury’s after six years at the helm, the company revealed today. The CEO will leave the role in May before retail and operations director Simon Roberts takes charge in June. Mike Coupe said leaving had been a “very difficult decision for me personally”. Read more: [...]
West blames Iran missile for plane crash as new video emerges January 10, 2020 Western leaders believe it is highly likely that a missile is to blame for the crash of a passenger jet over Iran that led to the death of all 176 people on board. Officials from the UK, USA, Canada and Australia have all agreed it is likely an Iranian missile was the cause of the [...]
Sainsbury’s Christmas sales slip despite online boost January 8, 2020 Sainsbury’s suffered the biggest drop in Christmas sales of general merchandise since it bought Argos in 2016, as consumer demand for toys and games weakened. General merchandise sales, which includes Argos, dropped 3.9 per cent in the 15 weeks to 4 January, driving a 0.7 per cent decline in total retail sales excluding fuel. However, [...]
Christmas supermarket sales growth slows to four-year low January 7, 2020 Supermarket sales growth over the Christmas period slowed to the lowest rate in four years as shoppers watched their budgets over the festive period. Retailers reported sales of £29.3bn, up £50m on last year, however growth slumped to the lowest rate since 2015. Read more: Morrisons sales fall in ‘unusually challenging Christmas period’ Year-on-year supermarket [...]
Morrisons sales fall in ‘unusually challenging’ Christmas period January 7, 2020 Supermarket giant Morrisons has announced a drop in sales for the Christmas period amid “unusually challenging” trading conditions and “sustained” customer uncertainty. Group like-for-like sales excluding fuel fell 1.7 per cent for the 22 weeks to 5 January. Including fuel, the drop was 2.8 per cent. Total sales excluding fuel were down 1.3 per cent, [...]
Aldi Christmas revenue tops £1bn but growth slows January 6, 2020 German discount retailer Aldi said today that its Christmas sales increased 7.9 per cent year-on-year to break £1bn for the first time. The supermarket chain said its sales in the four weeks ended Christmas eve were driven by strong growth in beers, wines and spirits, its premium Specially Selected range and fresh meat. Total beers, [...]