Microsoft Xbox Kinect proving Christmas hit December 7, 2010 THE Microsoft XBox Kinect is “flying off the shelves” according to Tesco. In its quarterly figures yesterday the retailer picked out the product as the one that is driving sales outside its more traditional groceries. The company said the gaming system, which responds to body movements to allow the player to play virtual games, is [...]
ANALYST VIEWS: ARE TESCO’S SALES RISES ENOUGH TO SATISFY INVESTORS? December 7, 2010 RICHARD HUNTER | HARGREAVES LANSDOWN The high expectations surrounding the company have not been adequately met, as the share price has drifted three per cent, as against a nine per cent hike in the FTSE100. We recommend a cautious buy. SAM HART | CHARLES STANLEY For a company forecast to deliver at least low double-digit [...]
Tesco boosted by Asian sales surge December 7, 2010 Tesco has reported am 8.8 per cent rise in the third quarter – helped by a strong performance from international stores. The supermarket chain said it was performing in line with market expectations while its market share was being boosted by the opening of more store space. Total international sales jumped by 15.7 per cent [...]
Receding fears over Eurozone debt levels hand FTSE a boost December 6, 2010 BRITAIN’S top share index closed higher yesterday, buoyed by oil stocks after crude reached a two-year peak, while banks fell on fears over Eurozone debt as EU ministers met to discuss ways of preventing debt contagion. The FTSE 100 ended up 24.96 points, or 0.4 per cent, higher at 5,770.28, for its highest close since [...]
Sluggish Tesco sales in UK offset globally December 5, 2010 SOLID sales growth overseas is likely to help Tesco offset sluggish performance in its main British market when the world’s third-biggest retailer publishes a third-quarter trading update tomorrow. Analysts believe Tesco’s sales growth from British stores open at least a year has lagged its rivals, partly because it sells more discretionary non-food goods, items where [...]
BEST OF THE BROKERS December 1, 2010 SAB MILLER Nomura rates the brewer “reduce” with a target price of £19.75. The broker has continued concerns about the US beer market, and that planned investment in marketing and IT would hold back any increase in margins. Nomura notes SAB’s recent claim that revenue growth would be around two per cent, slightly below earlier [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 30, 2010 FINANCIAL TIMES KPMG HIRES NON-EXECUTIVE DIRECTORS FOR NEW OVERSIGHT BODY KPMG Europe has hired three non-executive directors to sit on a new oversight body in a move that highlights the differing ways big audit firms are complying with regulatory changes in the UK. The directors are: Sir Steve Robson, a retired senior civil servant at [...]
Greenergy launches bid for Total’s UK forecourts November 28, 2010 GREENERGY, a supplier of fuel to British supermarket petrol stations, has launched a £1bn-plus bid to buy Total France’s UK retail network. Greenergy’s chief executive Paul Lester said he had held preliminary discussions with the French oil major about buying its portfolio of 780 petrol station forecourts. The supplier, in which the world’s number three [...]
RECKITT BENCKISER APPOINTS CFO November 23, 2010 RECKITT Benckiser has named Liz Doherty as its new chief financial officer (CFO). She will join in January and have a period of handover with Colin Day, the outgoing CFO. Doherty was CFO at Australia’s Brambles Industries for two years and before that group international finance director at Tesco.
Get ready for changes in bank sector November 23, 2010 CUSTOMER confidence in the banks is low. You would therefore think that the time was ripe for new entrants to the banking market. There was a time when scarcely a week went by without somebody saying they were about to become a bank. Tesco, Virgin and Metro Bank are lining up to offer the full [...]