Grocers and miners pull index to lowest level since January – London Report June 30, 2015 BRITAIN’S top equity index hit its lowest level since mid-January yesterday, pulled down by supermarkets and miners and underperforming even Eurozone shares despite Greece being hours away from a repayment default. While new data showed Britain’s economy enjoyed a stronger start to the year than previously thought, buoyed by big-spending consumers and an upturn in [...]
Wimbledon 2015: Tesco serves up tennis inspired signs at Wimbledon June 30, 2015 Tesco is getting into the Wimbledon spirit with a new sign on its shops near the famous tennis ground. Tesco Metro stores in Wimbledon's SW19 postcode have had the "o" in Tesco replaced with a tennis ball for the tournament. Its store in Dunblane, Andy Murray's home town, has had the same treatment. [...]
Tesco’s share price is falling on the back of Kantar figures showing sales are dropping again June 30, 2015 Tesco was the biggest loser on the FTSE 100 this morning, with the share price dropping like a stone after Kantar's latest market update. Sales at the troubled supermarket fell 1.3 per cent for the 12 weeks to 21st June – underperforming the sector average, which slipped back into a decline of 0.1 per [...]
Convenience retailers spend £177m on shops June 29, 2015 Convenience retailers spent £177m refurbishing their stores in the three months to May amid increased competition from their peers, coffee shops and food chains all vying for a bigger share of the food-to-go market. Britain’s booming convenience market is now worth over £37bn and consists of 50,000 stores – of which less than 2,500 are [...]
Best of the Brokers for 29 June 2015 June 28, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com IG GROUP Numis reiterated its “hold” rating on the trading group, and said it believes “good strategic progress is being made with the stockbroking offering in the Netherlands and work towards a regulatory licence in Dubai”. The broker added that it has increased [...]
From Tesco and the Northern Powerhouse to self-control and politeness: Here’s what got us talking this week June 26, 2015 There was a shocking attack in France. In Brussels, deadlines came and went and came (again). And somewhere in social media land, Taylor Swift became the Queen of everything, including Apple. Here's what got us talking this week 1) When it comes to happiness, south London is best Yup, if you're among the [...]
Tesco AGM: Lewis grilled over pay, performance and strategy but all resolutions passed June 26, 2015 Tesco bosses faced a grilling by shareholders today, fending off complaints about customer service, overall strategy and – of course – pay. But by the end of the AGM it was clear the supermarket's shareholders weren't revolting – at least not as much as some thought they might be. All of Tesco's resolutions, at least [...]
Dunelm hires former Monsoon boss John Browett June 26, 2015 Homeware retailer Dunelm Group has hired John Browett as chief executive, nine months after the surprise exit of former boss Nick Wharton. Browett will join the board on 1st July but will not take on the reins until January, following a six month induction period working with Will Adderley, who has been interim boss [...]
Dixons Carphone boss Sebastian James steals Retail Week Power List crown from Next’s Simon Wolfson June 26, 2015 Dixons Carphone chief executive Sebastian James has been crowned the most powerful person in British retailing, knocking Next's Simon Wolfson off the top spot. James has stolen the number one position in Retail Week's annual Power List, published today, for his work successfully merging the two retailers, creating a £10bn business that swooped into [...]
Tesco’s share price soars after reporting smallest decline in more than a year June 26, 2015 Tesco's share price climbed 3.6 per cent this morning as investors digested what appear to be the first signs of a turnaround under new chief executive Dave Lewis. The troubled supermarket has reported its smallest declines in more than a year, while volumes are up. The figures Tesco has stemmed its declines – group [...]