Mutuals will stay high street bit players for many Christmases yet December 17, 2013 MUTUALS and co-operatives have been promoted as the acceptable side of business by both arms of the coalition. Nick Clegg has lauded the Waitrose and John Lewis model. Advisers to David Cameron, as well as Vince Cable, have argued that the banking sector would be more stable if more companies followed the mutual model. But [...]
Supermarket shares slide as customers move to discounters December 17, 2013 More than half of us shopped at Aldi or Lidl in the last 12 weeks for the first time, according to Kantar Worldpanel data. That's seen more premium supermarkets take a hit – Sainsbury's are down by over 2.8 per cent, Tesco by nearly 1.5 per cent, and Morrison has seen a fall of 1.4 [...]
Ashley scores in the weird world of business tiffs December 15, 2013 MIKE Ashley is not happy with Adidas, after the German sports company refused from next season to let Ashley’s retail giant Sports Direct sell its replica Chelsea kits – incidentally one of Sports Direct’s bestsellers. Ashley is understandably miffed, and it has even been suggested the billionaire plans to build a hostile stake in Adidas [...]
Why Stagecoach is so successful in the US December 11, 2013 US MARKETS are often seen as the place British businesses go to die, which makes Stagecoach’s transatlantic success something of a surprise. The firm operates around 2,600 buses and coaches in the US and Canada, as well as offering commuter and school bus services. And while Stagecoach is already a key player in the UK, [...]
Stagecoach is uniquely successful in the US. Here’s why December 11, 2013 US markets are often seen as the place British businesses go to die. That makes Stagecoach's transatlantic success something of a surprise. The FTSE 250 listed company operates around 2,600 buses and coaches in the United States and Canada, linking roughly 100 locations, as well as offering commuter and school bus services. And while Stagecoach [...]
Bank goes on hire spree December 10, 2013 TESCO Bank yesterday revealed it is hiring 300 staff in preparation for the launch of its current account next year. The retailer hopes to take on the bigger lenders with its nationwide brand, large branch network and convenience. However, it has yet to detail how the accounts will work as well as their pricing. The [...]
Tesco hit by broker claims that prices rising faster than rivals December 10, 2013 TESCO’S share price faltered yesterday after the group suffered another downgrade from a major broker amid concerns that it has lost its differentiation with its rivals. In a damning note published yesterday, Bernstein analysts said that Tesco has raised prices faster than any of its supermarket competitors since 2010, losing its value credentials along the [...]
Future is sweet for Nectar as it ranks top of the loyalty schemes December 10, 2013 NECTAR has become the country’s most popular loyalty scheme, with 16.8m subscribers. A staggering 50 per cent of households now swipe their Nectar card when shopping in stores and online and it has become more popular than both the Tesco Clubcard and the Boots Advantage card. Gwyn Burr, Sainsbury’s customer director, said: “Customers are increasingly [...]
Tesco buys part of Asian grocer December 9, 2013 TESCO has bought a minority stake in south east Asia’s largest online retailer Lazada, the supermarket chain confirmed yesterday. Tesco declined to say exactly how much it had spent on the acquisition but said the deal was worth “ten of millions” of pounds. Lazada was founded last year by German brothers Oliver, Marc and Alexander [...]
Supermarkets grow ahead of shopping malls December 8, 2013 THE AMOUNT of space being added by UK supermarkets has overtaken that being added by shopping centres for the first time, despite some retailers calling an end to the space race as consumers shift to shopping online. The pipeline of grocery developments has grown by 67 per cent, or 19.24m square feet (sq ft) since [...]