Stocks surge on strong Chinese trade figures, while Tesco’s return to profit proves every little doesn’t help April 13, 2016 Strong trade data from China was enough to offset disappointing results from Tesco this morning and push UK stocks to their highest level of the year. Gobal shares rallied on the latest sign that the process of rebalacing in the world’s second largest economy is on course. Exports from China jumped by 11.5 per cent in March in dollar terms [...]
Tesco drags Sainsbury’s and Morrisons share price down too April 13, 2016 Tesco might have hoped for a better reaction to its news that it has returned to profit this morning than for investors to send its share price tumbling. Perhaps it was the relatively cautious statement given by chief executive Dave Lewis, or the fact that while profits were above consensus expectations, sales missed by a touch. Or [...]
Tesco’s share price drops as supermarket misses sales forecasts but beats consensus on profit April 13, 2016 Tesco's share price fell 4.7 per cent on the open this morning, despite the supermarket returning to profit and sales growth. The supermarket was the biggest faller on the FTSE 100 in early trading – and it was dragging some of its rival grocers down with it. [stockChart code="TSCO" date="2016-04-13 09:17"] The figures The troubled supermarket's [...]
Tesco’s share price has recovered this year as Dave Lewis implements his turnaround plan, but the preliminary results could affect sentiment April 13, 2016 When Dave Lewis took over as Tesco chief executive in September 2014, much was made of his nickname Drastic Dave, particularly as drastic measures were necessary to revive the group's flagging fortunes. Lewis was parachuted in from Unilever to turn around the Tesco juggernaut after a scandal that had seen the retailer overstate its profits. [...]
Tesco’s share price falls as supermarket sells half of stake in ecommerce site Lazada to Alibaba for £90m April 12, 2016 Tesco is continuing to shed itself of unwanted assets as management continues to plug the gaps in its balance sheet, this morning revealing it has partially offloaded its stake in ecommerce site Lazada to Chinese giant Alibaba. The supermarket received $129m (£90m) for its 8.6 per cent stake in the business, which acts a platform to sell global [...]
Tesco explores sale of Dobbies Garden Centres April 11, 2016 Tesco is preparing to sweep its shelves clean of more non-core businesses – this time in the gardening section – as the supermarket chain focuses on reviving sales at its core supermarkets. The retailer, which will publish its full-year results on Wednesday, already sold off a number of assets including its South Korean business Homeplus for £4.2bn last [...]
Tesco to accept Sainsbury’s brand match coupons after rival supermarket pulls out of promotional deals April 11, 2016 Promotional deals might be on their way out across the UK's supermarket sector but there is one place where they are still thriving. Tesco has said it will accept customers' brand match coupons issued by Sainsbury's – just days after the rival supermarket said it was shutting down its scheme. Sainsbury's said last week that coupons would no [...]
Tesco full-year results: Three things you need to know April 10, 2016 Tesco may just have a shock in store for shareholders and the rest of the City – and for once, it's a good one. Call it a belated Easter gift. The struggling supermarket is about to report a surprise turnaround in sales after Dave Lewis's crack of the whip over the past several months. Belt tightening [...]
Supermarket sales rise over Easter – but prove egg-sasperating for Tesco, Morrisons and Asda April 5, 2016 It could have been so easy for supermarkets. Not only are prices at an all-time low, but an early Easter pushed sales up compared with last year, new figures have shown. But while the Easter bunny hopped along to most of the nation's retailers, the big four continued to struggle. The figures, by Kantar Worldpanel, showed sales [...]
Barclays customers can now use Apple Pay… finally April 5, 2016 It's been a long old wait, but Barclays has finally jumped on board the Apple Pay bandwagon. Barclays is the last of the major banks to support Apple Pay in the UK, letting customers pay with just the swipe of their iPhone or Apple Watch. “Since we introduced contactless to the UK in 2007, it’s [...]