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 [...]
Tesco eyes Europe expansion November 23, 2010 RETAILER Tesco plans to almost double selling space in central and eastern Europe over five years. On the third and final day of a trip with analysts to Asia, the world’s third-largest retailer said it aims to have 4.1 million square metres of selling space in its central and eastern European markets by 2014-15, up [...]
Tesco China aims to quadruple its sales November 22, 2010 SUPERMARKET Tesco plans to quadruple sales in its Chinese business over the next five years, the firm said yesterday. Tesco told investors and analysts it hopes to hit £4bn in annual sales by 2015, in a country where sales are currently rising at eight per cent year-on-year. The firm aims to build more than 1,000 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2010 FINANCIAL TIMES ROK WAS WARNED ON OUTLOOK Senior executives at Rok, the failed building group, were warned the company’s public statements risked misleading investors by failing to identify the extent or source of its problems. The board of directors was contacted by Ashley Martin, at the time the suspended finance director, after Rok released a [...]
Tesco sales pick up overseas November 22, 2010 TESCO, the world’s third biggest retailer, has seen a pick up in sales growth in South Korea, its biggest market outside Britain, as well as rising sales in China, Thailand, Malaysia and India, it said yesterday. The supermarket group, on the first day of a trip to Asia with analysts, also said returns in Asia [...]
Asda sales up as it creates 7,500 UK jobs November 16, 2010 ASDA, owned by Wal-Mart, yesterday reported a return to underlying sales growth in its fiscal third quarter, helped by a focus on low prices and the relaunch of its core own-brand grocery range. The country’s second-biggest supermarket chain behind Tesco also said yesterday it would create more than 7,500 jobs next year by opening new [...]
Cable & Wireless Worldwide says it is happy with current full-year target November 16, 2010 TELECOMS firm Cable & Wireless Worldwide is comfortable with full-year expectations after posting first-half sales and earnings in line with forecasts despite pressure from cuts to UK public spending. C&W Worldwide (CWW), which concentrates on the global corporate market and has a large presence in Britain, said the “satisfactory” results had been held back by [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 14, 2010 FINANCIAL TIMES LLOYDS TO SPIN OFF BUY-OUT ARM The private equity arm of Lloyds Banking Group has for the first time outlined plans for the UK’s most prolific buy-out investor to spin off from its banking parent. Darryl Eales, chief executive of Lloyds TSB Development Capital, said it was expected to start raising money from [...]
Casino beats Tesco to Thai deal November 14, 2010 French retailer Casino has beaten supermarket giant Tesco in an auction to buy 40 Thai supermarkets from Carrefour. Casino is set to pay more than €700m for the Thai assets. Tesco, the world’s third largest supermarket by sales, had been tipped as a top contender for the purchase because it is the market leader in [...]