Easter “masks” wider problems in supermarket sector as price war continues to take toll on Tesco, Asda, Sainsbury and Morrisons April 10, 2015 Supermarkets experienced their first growth in spend during March – but the early Easter is “masking” the sector's problems, Nielsen claims. Sales rose 0.7 per cent for the four weeks to March 28 against the same period last year. The last time grocers saw an increase in spend was April last year, when Easter distorted [...]
Best of the Brokers for 10 April 2015 April 9, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CRANSWICK Numis reiterated its “hold” rating on the food producer. The broker described it as a “strongly managed concern with a good track record and decent prospects”, and highlighted a major investment programme due to be commissioned in autumn. Target price was trimmed [...]
Aldi becomes sixth biggest food retailer but sales growth slows April 8, 2015 ALDI has overtaken Waitrose as the UK’s sixth biggest supermarket, according to figures out yesterday that also cautioned that growth among the discounters was slowing. Aldi’s sales grew by 16.8 per cent in the 12 weeks to 30 March compared with a year earlier, taking its market share to 5.3 per cent, data from Kantar [...]
Aldi knocks Waitrose off its spot as UK’s sixth biggest supermarket April 8, 2015 Aldi has overtaken Waitrose to become the UK's sixth biggest supermarket. The budget supermarket, which has recorded double-digit sales growth for the past four years, now has 5.3 per cent of the country's spend on groceries, according to Kantar Worldpanel. Waitrose is still in growth – in fact just one of three to see [...]
Tesco pays £9m for abandoning Somerset store April 7, 2015 Tesco has been forced to pay out a £9m settlement to two local councils after shelving plans for a new store in Somerset, with the retailer likely to face further charges over other store closures. In January, Tesco chief executive Dave Lewis announced plans to close 43 existing stores and pull out of building 49 [...]
Living close to Waitrose could boost your house price by 12pc April 3, 2015 Premium properties within easy reach of a Waitrose can command a 12 per cent (£38,831) higher price than similar properties in other areas. According to research from Lloyds Bank, houses close to supermarkets enjoy, on average, a seven per cent higher price than other properties in the same town. Lloyds compared the average house prices [...]
Why hiring chief executives externally is better for struggling businesses April 2, 2015 It's an age-old argument: when a leader steps down, do you promote from within or bring in fresh blood? Each brings their own benefits – one has a fresh view on business and new ways of working, while the other already has a deep understanding of a company's strengths and weaknesses. Now we might have [...]
When it’s April Fools’ Day, science has no limit: Here are the most ridiculous discoveries ever made up April 1, 2015 Who said scientists don't have a sense of humour? Here are some of the most ridiculous April Fools' Day discoveries ever made up in the field of science. The Loch Ness monster really does exist – but it's now dead In 1972, a team of eight scientists from Yorkshire's Flamingo Park Zoo made a finding [...]
Tesco opens second hot food store format in Villiers Street, Embankment March 31, 2015 Tesco may be on course to shut down 43 underperforming stores as new management tries to get the business back on track, but it's not standing still when it comes to opening its new food format stores. The troubled supermarket opened its second store – which serves hot food for breakfast, lunch and dinner, as well [...]
Tesco begins land sell-off in cost-cutting drive March 30, 2015 Tesco has hired property advisory firm Savills to sell six development sites as part of plans announced earlier this year to cut costs. Chief executive Dave Lewis said in January that he would halve capital spending and save £250m a year by axing 43 stores, shelving 49 projects and closing its Cheshunt head office. The [...]