After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
High street sales drop as retailers slash prices February 20, 2015 Get ready for another round of "it wasn't us, it was the weather" from retailers. Official figures published today showed retail sales fell 0.3 per cent in January, despite feverish price-cutting by high street stores. The figure is a larger drop than anticipated – economists had expected 0.2 per cent. And ostensibly, it's also a [...]
Asda sets out its £600m expansion plans as price cuts weigh on sales February 19, 2015 ASDA yesterday revealed plans to spend £600m on creating new stores and improving existing ones after the Wal-Mart-owned chain posted an accelerated decline in quarterly sales. Britain’s second largest food retailer has been one of the most stable over the past two years and was the first to take action against the discounters in 2013 [...]
Majestic Wine’s boss Steve Lewis resigns after 29 years with firm February 19, 2015 Steve Lewis, the chief executive of Majestic Wine, yesterday resigned from the company with immediate effect, after a difficult festive trading period for the company. Lewis had been with the UK’s largest wine retailer for 29 years, including 16 years on the board and six years as chief executive, having risen through the ranks from [...]
Sports Direct on track for £360m profits despite winter slowdown February 19, 2015 SPORTS Direct said yesterday it remained “very” confident of achieving at least £360m of full-year underlying earnings after the poor skiing season at its Austrian business hit third quarter sales. The sportswear retailer, controlled by Newcastle United owner Mike Ashley, said sales for the 13 weeks to 25 January were up 2.6 per cent to [...]
Grocery price inflation hits four-year low February 19, 2015 PRICE inflation for everyday items across Europe has hit its lowest level since 2010 after falling for a fifth quarter in a row, according to figures released today. Sales of fast moving consumer goods (FMCG), which includes everything from toiletries to fizzy drinks, rose 3.1 per cent year-on-year in the fourth quarter of 2014. This [...]
Forget Greek misery: Why Europe is turning a corner thanks to structural reform February 19, 2015 AN OBSERVER coming to study “Europe” with fresh eyes and an open mind might well conclude that there is only one game in town: the ongoing negotiations between Athens, Brussels and Berlin over the Greek bailout. Clearly, the outcome is vitally important for the people of Greece, the Greek government’s credibility, and that of the [...]
Asda sales drop as boss Andy Clarke admits “pace and scale of change exceeded expectations” February 19, 2015 The boss of Asda has warned that the retail sector is in “one of its most challenging and changeable periods in history” as the supermarket today posted a drop in sales in 2014. The figures Like-for-likes at Wal-mart owned Asda dropped one per cent in the 12 months to December 31, while fourth quarter figures [...]
Mike Ashley’s Sports Direct on target but sales growth slows February 19, 2015 The figures Shares in Sports Direct rose two per cent in early trading as it announced sales and gross profits had risen across the Christmas period – up 2.6 per cent to £771m and 7.6 per cent to £346.9m respectively. However, that was a slowdown compared to the same period last year, when sales grew 11 [...]
Tesco investors non-plussed by John Allan as chairman – he’s no Archie Norman say analysts February 18, 2015 Something to tick off Dave Lewis’ Tesco recovery to-do list: – appointing a new chairman. The milestone was finally passed after a near four-month search with the naming of Dixons Carphone’s John Allan as Richard Broadbent’s successor. What’s that done to Tesco shares? Not much. They edged up slightly in early trading and are [...]
Counterfeit Glen’s Vodka being sold in London, Midlands and Scotland: Here are two ways to spot the fakes February 18, 2015 The Food Standards Agency is warning about counterfeit Glen's Vodka on sale “in several locations around the UK” – but it has highlighted a few tell-tale mistakes that should alert customers. The fake drink is being sold in “a number of small independent retailers, corner shops and petrol stations” in London, the Midlands and North [...]