Co-op buys David Sands shops after strong trading January 10, 2012 SUPERMARKET chain the Co-operative Group reported strong trading figures for the four weeks to 31 December yesterday, as it announced it had bought 28 convenience stores in Scotland from the David Sands group. Co-op, run by chief executive Peter Marks, has previously said it wants to increase the number of stores it runs across Britain [...]
Tesco shuts 12 stores in the States January 10, 2012 Tesco, the world’s third-biggest retailer, is mothballing 12 stores at its loss-making Fresh & Easy business in the United States due to weak local economies, it said yesterday. The British group said it remained committed to the chain, which it is aiming to lift to break even by the end of its 2012-13 financial year. [...]
Our schools must be open to business so we can have a bright economic future January 10, 2012 NOW that pupils are back at school, it’s time to help them get down to business. One key question they need to be asked is: “Hands up who wants to go into business?” Their answer will not only shape the life chances of millions of young people, but will also have a dramatic impact on [...]
Tesco loses market share in run-up to Xmas January 10, 2012 Britain’s biggest retailer, lost grocery market share in the run-up to Christmas as rivals fought back against its price-cutting campaign and cash-strapped shoppers flocked to discount stores, according to new data. Market researcher Kantar Worldpanel said grocery sales rose 4.8 per cent in the 12 weeks to 25 December. That lagged a 5.9 per cent [...]
ANALYST VIEWS: WERE MORRISONS’ RESULTS IN LINE WITH EXPECTATIONS? January 9, 2012 PHILIP DORGAN | PANMURE GORDON Christmas trading was slightly below best expectations, although in line with the market. Morrison’s shares were fantastic performers in 2011 and, while we see no real downside, we expect others within the sector to pick up the baton in 2012. CLIVE BLACK | SHORE CAPITAL We deem such a performance [...]
FTSE dented by GSK January 9, 2012 The FTSE 100 was dented by pharmaceutical giant GlaxoSmithKline today after concerns over one of its new treatments. GSK shed 2.6 per cent after reported problems with tests on its lung medication Relovair. Traders and investors were eyeing events in Berlin where German leader Angela Merkel and French President Nicolas Sarkozy are meeting today. The [...]
HMV gets Xmas sales still flagging January 9, 2012 Struggling British entertainment retailer HMV got a little respite over Christmas as sales declines slowed, providing a glimmer of hope the firm may have a future. The group, which last month posted wider first-half losses, said it was in danger of going out of business and put its HMV Live division up for sale, said [...]
Morrisons sales growth slows over Christmas January 9, 2012 Wm Morrison Supermarkets reported a slowdown in sales growth over Christmas and predicted cash-strapped shoppers would remain reluctant to spend this year, despite an easing of inflationary pressures. Britain’s fourth-biggest grocer behind J Sainsbury, Wal-Mart’s Asda and industry leader Tesco) said sales at stores open over a year rose 0.7 per cent, excluding fuel and [...]
Tesco set to unveil bleak Christmas January 8, 2012 TESCO is set to deliver its worst Christmas trading performance for decades this week after the supermarket’s £500m price cutting campaign failed to gather pace in the fierce battle for supermarket sales. Deutsche Bank, a house broker to Tesco, is forecasting a two per cent decline in like-for-like sales from UK stores in the six [...]
Don’t be unnerved by this retailer’s blip January 8, 2012 IN A WORLD of fierce supermarket price wars, and in the words of a well-known supermarket chain, every little helps. And every percentage point change in sales growth or underperformance can send alarm bells through the industry. Tesco’s own house broker signalling a two per cent decline in UK sales has surely raised some fears [...]