Tesco turnaround: Here’s what the analysts say January 8, 2015 Troubled Tesco today unveiled a dramatic turnaround plan, which will be led by Halfords chief executive Matt Davies when he starts as the supermarket's new UK boss in June. Its share price soared more than 10 per cent in mid-morning trade. But what are the analysts making of it all? Finally fighting back: John Ibbotson, director [...]
Tesco share price: One chart showing the rise, fall – and rise again? – of a retail empire January 8, 2015 Is turning around a supertanker really this easy? Tesco's share price rebounded more than nine per cent this morning after the retailer posted results showing Christmas sales fell a mere 2.9 per cent. Admittedly, that's hardly an impressive performance – but it's better than analysts had expected. If you're on a mobile, tap on the [...]
Tesco share price surges nine per cent after naming Matt Davies as new UK boss: sales drop, but turnaround begins January 8, 2015 Tesco's share price surged by more than nine per cent this morning, after the troubled supermarket outlined its turnaround strategy. It reported a fall in like-for-like sales of 2.9 per cent in the 19 weeks to 3 January – a better than expected set of results. The supermarket, which had a dismal 2014, set out [...]
Sainsbury’s hit by worst Xmas sales in 10 years January 7, 2015 SAINSBURY’S said yesterday that a surge in demand for its top-end food ranges and clothing helped the retailer beat Christmas forecasts, despite posting its first drop in festive sales in over a decade. Like-for-like sales, excluding fuel, dropped by 1.7 per cent in the 14 weeks to 3 January, as total sales fell by 0.4 [...]
My nine key predictions for the City over the 12 months ahead January 7, 2015 It's with some trepidation that I set out my predictions for the year ahead in corporate Britain, not least because the first of them might appear misguided even by the time you read this. ONE Tesco, which today updates the City on Christmas trading, will be the winner among the food retailing establishment’s “big four” [...]
FTSE rebounds on expectations of European QE – London Report January 7, 2015 Britain’s top equity index gained nearly one per cent yesterday, rebounding from a three-week low as Eurozone consumer price data raised expectations of new stimulus from the European Central Bank. The blue chip FTSE 100 index, which had fallen in the last three sessions and hit its lowest since mid-December on Tuesday, finished 53.32 points, [...]
Tesco, Morrisons, Asda, and Sainsbury’s cut petrol prices as Brent crude falls again January 7, 2015 The UK’s supermarkets are cutting petrol prices as the falling price of oil fuels a pump war. Brent Crude dropped below a symbolic threshold this morning, sliding below $50 a barrel to $49.99. The supermarkets had already blinked, however. Asda capped its petrol prices at 107.7p per litre and diesel at 114.7p from 1 January, [...]
Brent crude oil falls below $50 January 7, 2015 The price of Brent crude oil has dipped below $50-a-barrel mark for the first time in five and a half years, marking a symbolic moment for oil. The black stuff fell another two per cent this morning to $49.99 a barrel. Yesterday Brent crude dipped to $51.12, following a six per cent fall on Monday, [...]
Supermarket price wars: Sainsbury’s and Asda kick off new cost-cutting battle January 6, 2015 Asda and J Sainsbury fired the latest salvo yesterday in the supermarket price war, with Tesco also expected to launch a round of price cuts tomorrow as the big four battle it out to win over shoppers’ loyalty. Walmart-owned Asda pledged to spend £300m lowering prices in the first quarter of 2015 as part of [...]
LondonMetric buys Tesco dark store as online demand expands January 6, 2015 LondonMetric has stepped up its exposure to the UK’s fast-growing online retail market by acquiring a Tesco distribution centre in south London for £21m. The property company said yesterday it has bought the Croydon warehouse from CBRE Global Investors in a deal reflecting an initial yield of 5.5 per cent. The 173,000 square feet online [...]