Britain’s top bosses call for ‘national prosperity’ plan to boost growth post-pandemic April 28, 2021 Some of the UK’s top business leaders have called on the Government to set out a plan to boost growth as the country deals with the devastating impact of the pandemic. The Covid Recovery Commission, a group set up by last summer which includes top executives from Tesco, Shell and Heathrow Airport , has set [...]
Asda beats competitors to become fastest growing Big Four supermarket for first time in more than two years April 27, 2021 Asda beat its competitors to become the fastest growing of the biggest UK supermarkets for the first time in more than two years as consumers ventured further for their food shopping. The latest data showed Asda, which was recently sold by US retail giant Walmart to the Issa brothers and TDR Capital, increased its market [...]
Shakespeare: Tesco reaps the benefits of tech giveaways April 21, 2021 Tesco and Tesco Mobile earned positive headlines in recent weeks following the announcement that they were swapping out apples for Apple iPhones, Galaxy chocolate for Samsung Galaxy phones, and substituting other grocery items with high-end technology. The supermarket’s recent media campaigns have also encouraged Britons to stop buying alcohol from their stores in favour of [...]
Tesco slapped with £7.56m fine for selling out-of-date food April 20, 2021 Tesco was slapped with a £7.56m fine for selling out of date food at three of its stores by a Birmingham judge on Monday. The judge at Birmingham Magistrates’ Court also ordered the supermarket giant to pay a victim surcharge of £170, alongside the prosecution costs of £95,500, Birmingham City Council said. The penalty was handed [...]
British Land set to buy retail parks in diversification push April 14, 2021 British Land today said it was exploring further opportunities to buy retails parks and investing more in urban logistics following a surge in online shopping. The London-listed real estate firm cited customer confidence in visiting open-air retails parks where social distancing can easily be managed. A shift in location would see British Land move away [...]
Tesco profits tumble despite surge in pandemic sales April 14, 2021 Tesco’s pre-tax profit fell by 20 per cent to £825m in 2020 despite a pandemic-driven jump in group sales. The UK’s biggest grocer said it incurred £892m of Covid-related costs during the year and repaid £535m of business rates relief. The retailer reported a 6.3 per cent rise in group like-for-like sales, including a 7.7 [...]
YO! food chain to partner with WH Smith as high streets reopen April 12, 2021 Asian food chain YO! is set to trial a partnership with WH Smith this month, bringing to-go food to stores as high streets begin to reopen today. The move signals the food group’s expansion into on-the-go food and away from sit-in dining, as it also has similar partnerships with Sainsbury’s, Co-op, Tesco’s and David Lloyd Leisure [...]
The Week Ahead: Tesco, Coinbase IPO, JD Sports, JPMorgan, Goldman Sachs April 12, 2021 Some of the biggest banks are set to report earnings this week, with JPMorgan, Wells Fargo and Goldman Sachs all due on Wednesday. On a macro level, Tuesday’s UK GDP figures and inflation data from the US are undoubtedly going to be important. Meanwhile, the largest US cryptocurrency exchange, Coinbase, goes public. City A.M. looks at [...]
This week: Tesco set to report higher sales following pandemic boost April 12, 2021 Tesco is expected to post rising sales this week as its supermarkets stayed open throughout the pandemic. The UK’s biggest grocer may also reveal more muted profits in its update for investors on Wednesday, however, as they are forecast to be broadly in line with last year’s profits. Analysts have predicted that the supermarket, which [...]
Pod Point hires Bank of America to help with float plan – report April 7, 2021 Electric vehicle charging firm Pod Point has reportedly brought on Bank of America to work on a potential stock market float. According to Sky News, the firm could go public at some point this year, with Bank of America working together with Barclays on the deal. Pod Point is majority owned by French energy giant [...]