Tesco sells off Blinkbox Music to Guvera January 26, 2015 Tesco has offloaded its music streaming service Blinkbox Music to Australian firm Guvera for an undisclosed sum, but thought to be significantly less than the £10m the supermarket paid to acquire the service. Tesco bought digital service WE7 in 2012, rolling it into its digital entertainment arm, Blinkbox, and rebranding it under the new Blinkbox [...]
Amazon steals entertainment spend from UK supermarkets January 26, 2015 ONLINE retail giant Amazon took a larger slice of the UK entertainment market over the Christmas period, largely at the expense of the major supermarkets, according to research published today. Kantar Worldpanel figures show that Amazon took one in every four pounds (25.6 per cent) spent on physical music, games and video in the 12 [...]
Tesco launches supplier network as supermarket rebuilds trading relationships January 22, 2015 Tesco has launched an online network for its 5,000 suppliers, as the supermarket attempts to heal the rift with its trading partners. The supermarket giant has come under fire in recent months for the way it deals with its suppliers as the fall-out from its £263m profit blackhole continues to land. The revelation [...]
Halfords boss poached by Tesco: Matt Davies says he’s gutted to leave the firm January 21, 2015 Matt Davies, you can tell, is squirming in his seat at being asked about his new role at Tesco during a call for Halfords’ trading update. “I am genuinely gutted to be leaving Halfords,” Davies explains. “It was absolutely not in my script to be leaving. But when I was approached by Tesco and given [...]
Tesco said to shortlist Sir Ian Cheshire and John Allan for its new chairman January 21, 2015 Tesco is said to have drawn-up a shortlist for the appointment of its new chairman, as it prepares to bounce back with a turnaround plan following a hefty profit overstatement. The UK's biggest supermarket chain is said to be choosing between Sir Ian Cheshire, who recently left home improvement retailer Kingfisher, and John Allan, the [...]
Two of the big four supermarkets pay less than the cost of production for milk, Sainsbury’s advert claims January 21, 2015 Sainsbury's has revealed how much supermarkets pay farmers for milk- and claims that at least two of the big four stump up less than the cost of production. The figures have been released as part of the grocer's latest ad campaign, which claims that “at Sainsbury's we support our British fresh milk farmers,” asking [...]
LondonMetric buys Eddie Stobart shed January 20, 2015 LONDONMETRIC said yesterday it has bought an east London warehouse leased out to logistics group Eddie Stobart for £56.5m. The property group said it acquired the 28-acre site in Dagenham from Meaalofa Developments Holdings. It is let entirely to Eddie Stobart at a rent of £3m per year for 17 years from August 2014. The [...]
Sky and Talk Talk are the latest in the frame to buy O2 from Telefonica January 20, 2015 Sky and Talk Talk are the latest to join the queue of apparent bidders to snap up UK mobile business O2 from Telefonica. Talks between the Spanish telecoms firm and Sky and Talk Talk are said to be taking place, according to reports, just days after it was revealed China’s Hutchison Whampoa, the owner of [...]
Finsbury Foods share price soars as Disney Frozen cakes remain Christmas hit January 19, 2015 Disney’s Frozen cakes usually fly off the shelves for birthdays, but their success this Christmas helped sales soar at Finsbury Foods. The cake and bread manufacturer said total sales in the first half to 27 December jumped 24 per cent to £107.6m, thanks to strong demand for the Disney-themed sponge as well as its seasonal [...]
Market lifted by upbeat view of Christmas retail – London Report January 19, 2015 BRITAIN’S main share index rose yesterday, extending a strong run, with retailers such as Tesco among the biggest gainers from a more upbeat view of the sector after a better-than-expected Christmas period. Electronics retailer Dixons Carphone rose 4.4 per cent, the top riser on the FTSE 100 index, with traders citing optimism ahead of the [...]