Mike Coupe is yet to convince the City that he has a Plan B for Sainsbury’s July 3, 2019 It has been several months since the Mike Coupe dream of a merger with Asda was dealt a lethal blow from Britain’s competition watchdog. But how much has the embattled chief executive changed his tune? Not enough, it would seem, to quell anxiety among investors. Shares in the supermarket giant failed to pick up today [...]
What’s gone wrong at Sainsbury’s? Three problems the supermarket must address July 3, 2019 It has been several months now since the Mike Coupe’s dreams of a merger with Asda were dealt a lethal blow from Britain’s competition watchdog, but how much has changed? Directors at the supermarket chain have been setting out a plan to cut costs, slash debt and refurbish 400 stores. Yet investors will likely have [...]
Brokers urge investors to buy Topps Tiles shares as sales grow July 3, 2019 Topps Tiles posted like-for-like sales growth of 3.8 per cent for its third quarter today, as softer trading a year ago helped the retailer boost revenue. Read more: Profits slip nearly 20 per cent at Topps Tiles A 2.3 per cent drop in sales for the four weeks to the end of June last year [...]
JD Sports ‘on track’ to meet profit expectations as it gears up for AGM July 3, 2019 Sporstwear retailer JD Sports struck a confident tone in the City this morning as it claimed it was on track to meet profit forecasts. Shares in the high street brand edged up three per cent in morning trading after the group said it expected to deliver headline pre-tax profit ahead of its full-year results next [...]
The Works shares rise as value arts retailer boosts revenues July 3, 2019 Discount UK retailer The Works saw its shares rise 10 per cent this morning after its full-year results showed increased underlying profit in the year to April 2019. Read more: Arts and crafts store The Works plummets after profits take a hit Investors were not put off by the heavy costs The Works incurred related [...]
Sainsbury’s sales slip in ‘tough’ supermarket environment July 3, 2019 Sainsbury’s sales fell in its latest quarter, the supermarket revealed today, as boss Mike Coupe warned of the consequences of a no-deal Brexit. Like-for-like sales slipped 1.6 per cent year on year for the four months to the end of June while retail sales dropped 1.2 per cent, piling pressue on Coupe after the supermarket’s [...]
St Modwen boosts profit on growth in logistics sector July 2, 2019 FTSE 250 property developer St Modwen boosted profit in the first half of 2019 driven by its expansion in the warehouse and logistics sector. The figures Profit for the six months to the end of May was £23.1m, up from £20.8m compared to the first half of 2018. Basic earnings per share increased from 9.4p [...]
Bonmarche surrenders, while Creightons makes dramatic charge July 2, 2019 By Graeme Evans from interactive investor. The UK consumer is the driving force behind very different outcomes for this pair of tiddlers. Over 50s fashion chain Bonmarche (LSE:BON) raised the white flag last week after seeing the British weather scupper its defence against a £5.7 million takeover by billionaire Philip Day. The retailer, which was valued at £100 million when [...]
Fintech firm Revolut leads list of UK’s top 100 startups of 2019 July 1, 2019 Challenger bank Revolut has claimed first place in a list of the UK’s top 100 startups of 2019, it was revealed today. British fintech startup Revolut topped Startups.co.uk’s Startups 100 list for 2019, as it counts 5m customers around Europe and the UK. Energy startup Igloo placed second, while retail startup Trouva took third place. [...]
Bank of England: Annual consumer credit growth slows to five-year low July 1, 2019 Consumer credit growth slowed to a five-year low in May, as shoppers showed more caution over personal borrowing when compared to the same time last year. New figures released from the Bank of England (BoE) show year-on-year unsecured consumer credit growth rose by 5.6 per cent in May, slowing from 5.9 per cent in the [...]