Tesco revamps Tesco Finest in bid to boost sales October 7, 2013 Tesco has announced its plans to improve its Tesco Finest food line. Just days after announcing a pretax profit slump of 23.5 per cent in the first half of 2013, the supermarket giant has said the new food lines will include 400 new products with three-quarters of the current 'Finest' products being new or improved. [...]
Tesco hopes to win back sales with new items October 6, 2013 TESCO will today unveil a revamped version of its Finest range, which Britain’s biggest supermarket hopes will win over shoppers and shareholders following grim half-year results. The FTSE 100 firm, whose market share is dipping as the discount supermarkets grow, is expected to lay out 1,500 new or redesigned products ahead of the Christmas rush. [...]
London Report: BP’s court win sees FTSE defy US shutdown October 3, 2013 THE FTSE 100 rose yesterday, boosted by heavyweight BP which won a rare legal battle related to its oil spill in the Gulf of Mexico, but ongoing US government shutdown uncertainty sapped momentum. Energy firm BP – the UK’s fifth biggest company by market capitalisation – rose 1.1 per cent after it won a legal [...]
…as Tesco plans China venture after profits fall October 2, 2013 BRITAIN’S biggest supermarket chain Tesco is pinning its hopes on a new joint venture in China after reporting a sharp slump in European profits and flat UK sales in the first half. Trading profits in Europe collapsed by 69 per cent, dragging Tesco’s overall profit before tax down by 24 per cent to £1.39bn. In [...]
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 [...]