London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Tesco says £1bn plan on track as troubles mount December 4, 2013 TESCO boss Philip Clarke insisted yesterday that his £1bn investment plan to turn the retailer around was “firmly on track” despite posting a slump in trading across all of its markets. UK like-for-like sales fell 1.5 per cent in the third quarter to 23 November compared with flat sales in the second quarter and in [...]
Analyst Views: Is Tesco’s management pursuing the right strategy? December 4, 2013 JAMES GRZINIC | JEFFERIESTesco’s update confirmed not only the significant headwinds the group has had to contend with, but also the shape of a measured profit recovery in the coming year. We are encouraged by management’s clear rebuttal of a need for a UK profit rebasing, to us this would be an unnecessary profit sacrifice. [...]
Tesco sees UK sales drop 1.5 per cent in third quarter December 4, 2013 Tesco has announced a 1.5 per cent fall in like-for-like sales in the three months to 23 November, which it says is down to a weaker UK grocery market. Underlying sales fell in every country in which it operates. The sobering news is in line with predictions from Citi analysts. It doesn't bode well for [...]
City bosses call for shake-up of UK education December 3, 2013 BUSINESS leaders railed against the UK’s lacklustre education system yesterday, as international rankings showed that Britain is slipping behind many other countries. The UK did not make the top 20 list for mathematics, science or reading, according to the OECD’s latest Programme for International Student Assessment (Pisa), with the points awarded to UK students stuck at [...]
Investors dump Tesco as analysts slash price December 2, 2013 TESCO shares continued their downward slump yesterday, dropping a further two per cent after HSBC downgraded its stock to “underweight” and urged the supermarket to cut profit margins to win back customers. Analysts at the bank slashed the retailer’s target price from 400p to 340p and added their voice to the swathe of brokers who [...]
Bottom Line: A shift at Tesco could change the whole market December 2, 2013 TESCO wasn’t the only supermarket moving downwards yesterday. As shares in the UK’s biggest grocer continued their downward trend, fellow retailers Sainsbury’s and Morrisons dipped in sympathy – despite the former recently topping profit forecasts and outshining its competitors. So why all the discontent in the aisles? HSBC’s note on Tesco yesterday, in which it [...]
London Report: Miners and Tesco drag on the FTSE December 2, 2013 WEAK miners dented top UK shares yesterday, tracking copper prices lower as traders bet on more falls for the broader market, while Tesco dropped on analyst downgrades ahead of a trading update this week. Miners shed two per cent, hit by a lower copper price as concerns over swelling supplies overshadowed improved manufacturing data from [...]
Lidl boss eyes 600 new stores December 1, 2013 LIDL’s UK managing director has announced plans to double the discount chain’s number of stores over the coming years. On the growth of Lidl’s 600 current stores Ronny Gottschlich said “If I could have the 1,200 in the next three years, then I would have it in the next three years. But it is clear [...]
Bottom Line: Tesco results to show the rise of discounters December 1, 2013 TAKE note, Tesco. Britain’s biggest supermarket, which is expected to post a drop in like-for-like sales of around 1.5 per cent on Wednesday, has been caught napping by Lidl and its discount peers in recent months. Tesco has rolled out extra price cuts and special offers as it tries to win back the market share [...]
Barclays cracks top five FTSE broker rankings December 1, 2013 BARCLAYS broke into the top five FTSE 100 stockbroker rankings last month, overtaking Deutsche Bank, fresh figures released today show. The British bank added two new blue chips to its roster of clients – supermarket giant Tesco and engineering firm Amec – to place it joint fifth in a list of the top brokers, ranked [...]