Sainsbury’s suffers Christmas sales slowdown as Black Friday hurts the supermarket January 9, 2019 Like-for-like sales at Sainsbury’s fell by 1.1 per cent over the Christmas period, the supermarket said today. Total sales excluding fuel dropped by 0.4 per cent in the 15 weeks to 5 January, while general merchandise sales fell by 2.3 per cent and clothing by 0.2 per cent. Read more: Aldi sales hit £1bn in record Christmas [...]
FTSE 100 hits monthly high after retail boost and fresh hopes of US-China trade deal January 8, 2019 The FTSE 100 has risen to monthly highs as investors return to retailers and US-China trade deal talks resume. The blue chip index has climbed one per cent today after US stocks bounced last night on fresh hopes of a resolution to the trade dispute between the world’s two largest economies. US Commerce Secretary Wilbur [...]
Discounters win war of the supermarkets amid sluggish Christmas growth January 8, 2019 Aldi led the way during a record-breaking Christmas for groceries, even as sales growth slowed across the sector. The supermarket increased sales by 10.4 per cent, narrowly beating fellow discounter Lidl to the top spot, figures from Kantar Worldpanel show. “The discounters have continued to make their mark over Christmas: two-thirds of all households shopped [...]
Morrisons increases sales for a fourth consecutive Christmas but shares fall as it loses market share January 8, 2019 Morrisons posted its fourth consecutive Christmas of growth today, crediting competitive pricing of key festive foods and customer service for its strong performance. Excluding fuel, total sales at the supermarket rose by four per cent in the nine weeks to 6 January, while like-for-like sales grew by 3.6 per cent, with retail contributing 0.6 per [...]
Supermarkets drop fuel prices for seventh time since October January 7, 2019 Supermarket chains Asda, Sainsbury's and Morrisons will cut prices at fuel pumps from tomorrow as a lower oil price continues to be passed on to consumers. For the seventh time since late October Asda has said it will lower the price at its 320 petrol stations. Customers will pay 1p per litre less for unleaded petrol, or no [...]
Morrisons and Tesco flag concerns over Sainsbury’s-Asda merger December 4, 2018 Morrisons and Tesco have added their voice to the growing chorus of retailers which have spoken out against the proposed £12bn merger between Asda and Sainsbury’s. Both grocers have this week brought into question Sainsbury’s planned takeover of rival Asda, which would see Britain’s second and third largest supermarkets overtake Tesco to the top spot. [...]
McColl’s shares plunge on profit warning December 3, 2018 Convenience store chain McColl’s today cut its profit forecast for the year, sending its shares tumbling more than 20 per cent. McColl’s cut its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for the 2018 financial year to £35m, down from a previous estimate of £44m. The business blamed the profit cut on disruption [...]
Asda, Sainsbury’s and Morrisons announce plans to cut fuel prices tomorrow November 30, 2018 Three major UK supermarkets have announced cuts to fuel prices today as the wholesale cost continues to decrease. From tomorrow customers at Asda, Sainsbury’s and Morrisons will benefit from 2p per litre discount on unleaded and diesel. Drivers will now pay no more than 116.7p per litre on unleaded and 127.7p per litre on diesel [...]
Hostelworld camps down for flat growth but hints at future bookings boost November 29, 2018 Hostelworld today said its projected earnings for the full year are in line with expectations as it wraps up a strategic review to boost bookings in the coming years. The Dublin-based company said earnings before interest, taxes, depreciation and amortisation are on track to meet the board’s expectations, but that like-for-like bookings are likely to [...]
Services giant Jacobs to move into new 1,000-worker London Bridge office November 27, 2018 Services giant Jacobs Engineering Group is combining its three UK premises to move into a new 80,000 sq ft office in London Bridge. The US firm, which provided infrastructure for the 2012 Olympics, has secured the Cottons Centre site for the next decade, providing offices for around 1,000 employees working on infrastructure projects. The site, [...]