London Report: FTSE weighed down by poor Tesco numbers June 4, 2014 THE UK’S top equity index fell yesterday weighed down by Tesco after the supermarket retailer posted its biggest quarterly UK sales drop in 40 years. The blue-chip FTSE 100 closed down by 0.3 per cent, or 17.67 points, at 6,818.63 points. Tesco’s 1.4 per cent fall was one of the biggest setbacks for the FTSE, [...]
On the front line: Adopting unified communications June 4, 2014 Richard Smith, owner and managing director of Aspen Concepts, talks to Liam Ward-Proud about how unified communications have helped link the different parts of his business, and increased employee productivity Handling several lines of communication is a challenge for most SMEs. But it’s especially tricky for businesses operating across multiple sites. Aspen Concepts, a retail [...]
Tesco share price is falling after sales plummeted again June 4, 2014 Another set of falling sales figures from Tesco this morning. The UK supermarket giant has reported a 3.7 per cent drop in like-for-like sales – 3.8 per cent when including petrol. That does mark the store’s third drop in a row but is, however, better than the four per cent decline analysts were expecting. Revenues [...]
Tesco market share sinks to a 20-year low June 3, 2014 TESCO boss Philip Clarke is under renewed pressure after figures out yesterday showed that customers abandoning its stores have caused the chain to suffer its worst loss in market share in 20 years. Analysts lashed out as data from Kantar WorldPanel revealed that Tesco’s sales slipped by 3.1 per cent year-on-year in the 12 weeks [...]
New Look in red after French loss June 3, 2014 NEW LOOK has said it could sell its French business Mim after a write-down dragged the fashion retailer to a full-year loss. The value retail chain, which has over 1,100 stores in 24 countries, posted a 5.8 per cent rise in underlying earnings to £200.2m in the year to 29 March. However, it took an [...]
England World Cup final worth £1bn to retailers June 3, 2014 AS FOOTBALL fans around the world prepare for the start of the biggest event in the sporting calendar next week, it won’t just be supporters who are hoping England make it to the final of the World Cup in Brazil. New research suggests retailers stand to make a Mexican-wave-worthy £1bn during the game if England make [...]
City Moves for 03 June 2014 | Who’s switching jobs June 2, 2014 Charles Stanley The investment management firm has announced the appointment of Paul Abberley as chief investment officer. He was most recently at Aviva Investors, where he was acting chief executive and member of its group executive committee. Prior to that, Abberley spent eight years at ABN Amro Asset Management, where he was chief investment officer for its [...]
Britons leave cash behind in favour of cards June 2, 2014 BRITONS have cut back on shopping with cash by 14 per cent over the last five years as people increasingly turn their backs on coins and notes in favour of card and contactless payments. Cash made up just £27.64 in every £100 spent at retailers in 2013, according to a survey published this morning by [...]
Tesco seals deal to sell House of Fraser products June 2, 2014 TESCO has struck a deal with House of Fraser to sell the department store’s products on its website, the supermarket giant said yesterday, as it seeks to stem its declining sales. After trialling the offer earlier this month, Tesco said House of Fraser has agreed to sell 2,000 products from homeware brands including Linea and [...]
Lloyds to pay for computer systems at TSB June 2, 2014 NEW HIGH street bank TSB will receive up to £450m from parent Lloyds if it decides to build new IT systems in future, under the terms of its listing on the stock market. Currently TSB is renting a copy of Lloyds’ systems, giving it a ready-made and comprehensive capabilities. The arrangement is thought to be [...]