Supermarkets’ shares tumble September 29, 2014 BRITAIN’S struggling supermarkets continued their bad run as the worst performing stocks of the year through September, falling by as much as 20 per cent across the month. Ocado led the plunge, with its share price falling 19.5 per cent, followed by Tesco’s 16.7 per cent. But the shops are fighting to win customers and [...]
Aldi undaunted by price war as profits surge September 29, 2014 GERMAN discounter Aldi said yesterday that the supermarket price war was helping to drive more customers into its shops as it reported a 65 per cent jump in full-year profits. The retailer, together with its German peer Lidl, has been stealing market share from the big four supermarkets as it ramps up its presence in [...]
Tesco, Sainsbury’s and Asda cut petrol prices in latest battle in supermarket price wars September 29, 2014 Supermarkets clearly love the smell of diesel in the morning. Forget Brand Match promotions, in the latest battle between supermarkets in the long-waged war over low prices, the front of the petrol pumps re-opened. From tomorrow, Tesco and Sainsbury’s will slash fuel prices by up to five pence per litre while Asda will cut up [...]
Aldi UK profits jump nearly 66 per cent September 29, 2014 Group turnover at budget supermarket Aldi rocketed more than 35 per cent in the UK and Ireland during 2013, while pre-tax profits soared by nearly two-thirds, it said today. Sales at the discount grocer rose to £5.27bn for the year to December 31, 2013, up from £3.89bn the preceding year. Pre-tax profits, meanwhile, jumped [...]
Cream of the crop: Gu founder James Averdieck talks Australia and rural fantasy September 28, 2014 It's the kind of story you wouldn’t necessarily believe: someone cooked up the idea of a chocolatey pudding company while sitting in a coffee shop in Belgium, eating brioche. But for James Averdieck, founder of Gu, that’s exactly what happened. Back in 2003, he was a marketer for dairy company St Ivel, working in Belgium [...]
Dave Lewis might be tempted to dodge crisis at Tesco, but he’d do better facing up to the truth September 28, 2014 Dave Lewis found himself face to face with some wicked problems last week. Tesco’s new chief executive had only been in the job for a matter of days when he was confronted with an accounting scandal, dire growth forecasts, unhappy investors and irate politicians. The kind of wicked problems Lewis faces are common in business. [...]
Ukip party conference 2014: Three reasons Ukip might have the best brand in politics September 26, 2014 After Ed Miliband’s much-maligned slip-ups, this weekend it’s Nigel Farage’s turn to show the world he’s a man of the people, at the Ukip party conference. Farage may be mocked by some – but during his tenure as its leader, he has transformed it from a party on the margins of the political system [...]
Tesco’s week from hell: £250m black hole, 16 per cent fall in share price since Friday September 26, 2014 Was this the week Tesco hit rock bottom? Having discovered a huge black hole in its finances, shares have fallen from Friday's closing price of 229.6p, to a low of 191.23p in early morning trading today. That's a fall of almost 17 per cent. Here's a handy, cut-out-and-keep guide to Tesco's week from hell Monday [...]
Sports Direct’s share price tumbles after Tesco investment September 26, 2014 Shares in Sports Direct were down again this morning, following founder Mike Ashley's decision to take out a put option on Tesco yesterday. The retailer's share price has reached a low of 610p, having opened at 636.5p. It continued a tumble that started yesterday, when shares reached a high of 670p. Is it [...]
Sports Direct makes bet with stake in Tesco September 25, 2014 MIKE ASHLEY has made a £43m bet that shares in ailing supermarket Tesco will bounce back after the discovery of a £250m black hole in its accounts sent shares tumbling 16 per cent this week. The billionaire’s retail empire Sports Direct has entered into a put option agreement with Goldman Sachs over 23m shares in [...]