London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Sainsbury’s wins battle of the big supermarkets with rise in sales… October 2, 2013 SAINSBURY’S chief executive Justin King yesterday conceded that the days of Britons shopping at one supermarket were over as the grocer posted strong second quarter sales yesterday ahead of rivals. King said the growing strength of discounters such as Aldi reflected this change in shopping behaviour. “I should think all of our shoppers are shopping [...]
Bottom Line: Clarke gave investors a nasty shock but deserves more time October 2, 2013 TESCO chief executive Philip Clarke may be sticking to his guns and ruling out a European retrenchment – despite a 68 per cent drop in profits in the region – but investors are clearly sceptical. Though analysts seemed to have the fall priced in, shareholders still took flight, sending shares down as much as two [...]
London Report: FTSE slumps to a three-month low on US fears October 2, 2013 THE UK’S top share index slipped to a three-month low yesterday, with retailers bruised by a weak trading update from Tesco while broader sentiment was weighed down by concerns over a US government shutdown. The FTSE 100 index fell as low as 6,386.18 points, its lowest since July, as investors fretted about the continued partial [...]
The new kids on the block October 2, 2013 The tablet market is no longer divided into “Apple” and “others”. With the release of Tesco’s budget Hudl and Microsoft’s revamped Surface 2, the market is hotting up in time for the Christmas splurge Microsoft Surface 2 From £359 Microsoft desperately wants to get a slice of the tablet market, surprising some observers by launching [...]
Can you guess the top seven items sold at Tesco in the last six months? October 2, 2013 In a week where London mayor Boris Johnson has been tripped by on milk prices, and Prime Minister David Cameron couldn't tell us the price of a loaf of bread – can you guess which items Tesco sold most of in the 26 weeks to 24 August? Answers here. You can read more on Tesco's [...]
Rosy results for Sainsbury’s with increased sales, stores and new mobile service October 2, 2013 Sainsbury's has reported strong sales which have delivered continued outperformance, with total sales for the second quarter up five per cent (4.6 per cent excluding fuel). (Release) Like-for-like sales for the same period were up 2.1 per cent (2.0 per cent excluding fuel), with total sales for the first half of 2013 coming in up [...]
Tesco to swell presence in China but profits are sliding October 2, 2013 Tesco has announced it's to join forces with China Resources Enterprise (CRE) to create the leading multi-format retailer in China. (Release) The companies have entered into definitive agreements to combine their Chinese retail operations. The joint venture will see Tesco's 134 Chinese stores – as well as its Chinese shopping mall business – combine with [...]
Crumbs! Cameron fails to use his loaf October 1, 2013 DAVID Cameron may have been pilloried yesterday for failing LBC’s everyman test and admitting he didn’t know the price of sliced bread, but after using our loaves and doing a little investigative work, The Capitalist has a crumb of sympathy for the Prime Minister. Whether one prefers artisan sourdough or tiger bread, the selection of [...]
Poundland eyes 2014 flotation as sales surge October 1, 2013 POUNDLAND is eyeing a possible initial public offering (IPO) in the first half of next year as the private equity owners of the discount retailer look to cash in on its surging sales. The chain, which has benefitted from thrifty shoppers seeking value during the economic downturn, posted a 15 per rise in sales to [...]
Aldi’s extra 1m customers help double profits September 30, 2013 DISCOUNT supermarket chain Aldi said yesterday it more than doubled its profits in the UK last year, as it lured more than a million shoppers from more upmarket rivals and grabbed a bigger share of the market. The German group, which will open its 500th UK store next month, posted a pre-tax profit of £157.9m [...]