Lidl and Aldi see spending growth soar over 30pc December 14, 2014 Discount supermarkets, such as of Lidl and Aldi, are on track to be the clear winners in the lead up to Christmas with year-to-date spend growth of 31 per cent. Meanwhile, their mainstream rivals, including the big four of Tesco, Asda, Sainsbury’s and Morrison’s, have seen spending fall 4.1 per cent in the same period, [...]
Why smart people make bad decisions December 14, 2014 A company’s corporate culture can sometimes encourage dangerous herd behaviour. When asked recently to deliver a keynote speech at the ACORD Forum in Fort Lauderdale, I instantly knew my topic – it’s something that has been puzzling me for years – “Why do smart people make bad decisions?” I’m not referring to just hiring [...]
Which supermarket has the cheapest petrol? Supermarkets announce price cuts as oil falls December 12, 2014 Major UK supermarkets have announced cuts in the cost of petrol and diesel in response to the fall in global oil prices. The biggest discounter is Asda, which will cut 2p per litre off the price of both petrol and diesel on 13 December. Sainsbury's was the first to cut prices on 11 December, announcing a cut of [...]
Retail reunion at Shore Cap’s Christmas lunch December 11, 2014 The who's who of the retail world trotted over to the Montague on the Gardens Hotel yesterday to share a Christmas toast (and another, and another) with Shore Capital’s retail guru Clive Black. Any airs and graces were brushed aside as each guest arrived at their table to find some sort of festive [...]
Brits spend £2,000 on online goods December 11, 2014 PEOPLE in the UK spend an average of £1,968 online on goods from the likes of Amazon, Tesco and Asos every year, far more than people in the US, France or South Korea. Australia followed in second place with an average spend of £1,356 and the US came in third with an average spend of [...]
Sports Direct brushes off England’s early World Cup exit but results show even Mike Ashley can’t predict the weather December 11, 2014 Sports Direct has brushed off England's disappointing World Cup performance but it seems owner Mike Ashley is not immune to the unseasonal weather. The figures Group revenue rose 6.5 per cent to £1.4bn in the six months to 26 October. Underlying earnings before interest, taxes, depreciation, and amortisation rose 11pc to £203.1m, excluding charges related to the [...]
Tesco in further turmoil after profits tumble December 9, 2014 Investors fled for cover yesterday as Tesco warned on profits for the fourth time in five months, raising fears in the City that the ailing supermarket could become a takeover target. Analysts at investment bank Espirito Santo compared Tesco’s demise to that of Sears in 2004, when the US retailer – once the [...]
Mothercare poaches Rexam’s finance chief Richard Smothers December 9, 2014 MOTHERCARE yesterday announced it had secured a new chief financial officer after poaching Richard Smothers from the same role at packaging group Rexam. The baby goods retailer said that Smothers would join the firm on 23 March after stepping down at Rexam. He will replace Matt Smith, who is leaving next month to become chief [...]
FTSE tumbles on Tesco share price turmoil as banks take a hit – London Report December 9, 2014 Britain’s main equity index yesterday fell to one-month lows, hit by supermarket retailer Tesco’s fourth profit warning this year. Shares in Tesco at one stage fell as much as 17 per cent to their lowest in around 14 years, wiping some £2.6bn off the firm’s market capitalisation. It later regained some ground to close 6.6 [...]
Tesco’s share price has plummeted 50 per cent and it’s now the year’s second biggest FTSE 100 faller December 9, 2014 This morning, Tesco issued its fourth profit warning of 2014, saying profit for the financial year ending February 2015 would not be greater than £1.4bn. This is much lower than its estimate of £2.4bn- £2.5bn in August. But in September, the supermarket chain revealed that it had overstated its profits for the year by £263m, [...]