Tesco share price hits 11-year low as supermarket chain issues yet another profit warning December 9, 2014 The figures The year just keeps getting worse for Tesco, with the beleaguered supermarket chain issuing yet another profit warning this morning. It said trading profit for the financial year ending 2015 would not exceed £1.4bn – a significantly lower figure than market expectations of between £1.8bn and £2.2bn. Shares plummeted by 16.2 [...]
Tesco share price timeline: One chart showing the dramatic decline of the supermarket giant December 9, 2014 Since 1919, the rise of Tesco as the dominant supermarket chain has seemed unstoppable. It enjoyed rapid expansion in the 80s and 90s which resulted in a huge market share over the last ten years. This is all now under threat after a series of profit warnings and scandals has cast a bleak shadow over [...]
What will happen to Tesco and its investors after yet another profit warning? Here’s what the analysts think December 9, 2014 What will happen to Tesco and its investors? Here's what the analysts think after the latest concerning news from the retail giant. Tesco's terrible year became a little bit worse this morning, after the beleaguered supermarket chain revealed that its profits for the financial year ending in 2015 would not exceed £1.4bn. This [...]
Blackstone mulls £1.5bn takeover of drinks bottler December 7, 2014 US PRIVATE equity giant Blackstone Group is considering a £1.5bn takeover bid for Refresco Gerber, Europe’s largest soft drinks bottler, it emerged yesterday. The US investment specialist is among several interested parties weighing up bids for the Anglo-Dutch company. Blackstone’s private equity rival KKR and CVC Partners are also rumoured to be circling, with bids [...]
Andrew Tyrie’s claim about banks’ back-door lobbying is holed December 4, 2014 There are few things bankers dread more than being summoned for hours of intellectual flagellation by Andrew Tyrie, the relentless chairman of the Treasury Select Committee. He has scored several notable victories, including a blueprint for regulators to hold reserve powers to break up major UK banks. On his latest target – [...]
Business ethics: Does your firm cut it? December 3, 2014 The right incentives and senior management taking the lead will make all the difference. In recent months, six of the world’s biggest banks have been accused of rigging foreign exchange rates, while the UK’s dominant retailer has admitted misstating profits by a quarter of a billion pounds. It’s easy to be cynical about [...]
More bad news for Tesco bosses as Harris + Hoole makes big loss December 2, 2014 COFFEE chain Harris + Hoole, which is part-owned by troubled supermarket giant Tesco, announced a £12.8m pre-tax loss yesterday on filing its annual accounts. The company, which was forced to close six branches earlier this year following disappointing trading figures, said the results represent a period of investment for the fledgling coffee business, and reported [...]
YouTube ranking: John Lewis, Sainsbury’s, Burberry and Marks and Spencer have the best Christmas ads of 2014 December 2, 2014 It’s only the second day of December, but we've already been treated to a sneak peak of the joy ahead for the Christmas season via the medium of advertising. This year, retailers battled it out with penguins, soldiers and celebs in a bid to get the public into the festive spirit and spend their pennies- although [...]
Which supermarket wine wins top of the shops? Corks pop as M&S nets 73 medals December 2, 2014 Here's one thing the discounters aren't winning at. Aldi may just have launched its own range of fine wines, but this Christmas we'll be raising a toast to Marks & Spencer, which has just netted 73 medals at the International Wine Challenge (IWC). The supermarket won five gold medals, 21 silvers and 47 bronzes for [...]
Goodbye Christmas jumpers – hello Christmas suits? The must-have self-purchase for 2014 revealed. Maybe December 2, 2014 Christmas wouldn't be Christmas without a novelty outfit of some sort. The Christmas jumper has been a long-time favourite but, as with the Shoreditch beard that has grown in popularity over a similar period, it's safe to say we've now reached peak-jumper. Last year every retailer from Tesco to John Lewis jumped on the [...]