Morrisons share edges up as thrift is order of the day September 13, 2011 MORRISONS has emerged as the current market share winner among the big four grocers as consumers look for savings in the tough economic environment. The grocer’s market share improved to 11.5 per cent in the 12 weeks to 4 September compared to 11.4 per cent in the comparable period last year, figures from Kantar Worldpanel [...]
Sales surge at Morrisons September 8, 2011 MORRISONS marked its forecast-beating first half results with a renewed effort to finally enter the online delivery market – more than a decade after its rivals launched their services. The supermarket saw an 8.9 per cent rise in first-half profits to £449m, as a focus on fresh foods, low prices and promotions helped it chip [...]
Tesco plots South East Asia expansion after failure in Japan September 7, 2011 TESCO is mulling a move into a new market in South East Asia, City A.M. has learned, and has been scoping out opportunities in Indonesia. City A.M. understands that the supermarket giant has been examining an entry strategy for the region’s most populous country for over a year and, with its withdrawal from Japan announced [...]
A rally in commodities gives a rare fillip to the FTSE 100 September 6, 2011 A RALLY by hard-pressed commodity issues hauled Britain’s top share index higher yesterday as investors fished choppy waters for bargains after sharp falls in the past two sessions. At the close, the FTSE 100 index was up 54.26 points, or 1.1 per cent, at 5,156.84, having hit a peak of 5,190.2 in the morning and [...]
The only way is Essex for hidden gems September 1, 2011 ROLLING countryside, boutique shops and country pubs – but most importantly not a vajazzle in sight. Essex has a whole lot more to offer than the controversial The Only Way is Essex TV series would like to portray. The area has all the charms and convenience of the most-desired Home Counties of Surrey and Kent. [...]
Tesco to quit Japan after eight years August 31, 2011 TESCO yesterday announced that it would quit Japan after a bruising eight years in which it failed to gain a profitable foothold in the market. Japan is known as a difficult market to crack for western companies, especially in the notoriously tough grocery sector. Tesco has 129 stores, mainly in the Tokyo area, having started [...]
Asian exit sends message to ailing US arm August 31, 2011 IF a butterfly flaps its wings in China, it changes the weather in New York. And if Tesco exits Japan, it sends a chill wind through its US business. The decision to pull out of Japan was a no-brainer. It had a sub-scale operation of just 140 stores, a work-force of 4,367, and annual sales [...]
How to solve the scourge of youth joblessness August 31, 2011 IT is not a good time to be young. Much has been stacked against them – poor job opportunities, rising house prices and tuition fees, collapsing pensions, and the burden of having to pay off the national debt. Last week, figures showed a shock rise in youth unemployment, with nearly one million under 25 year [...]
FTSE edges up as investors eye US strategy August 31, 2011 The FTSE 100 opened solidly this morning as investors kept their eyes on the situation across the Atlantic with hopes still alive that the US Federal Reserve will trigger stimulus measures to boost the struggling economy. US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal [...]
Tesco to quit Japan after 8-year struggle August 31, 2011 Tesco has put its loss-making Japanese business up for sale, abandoning an eight-year attempt to break into a tough retail market and underscoring its new boss’s commitment to investor returns. The supermarket group said it would trigger a sale process in the coming months for its 129 small-format Japanese stores in the greater Tokyo area. [...]