Game Group profit hit as price promotions weigh December 8, 2010 COMPUTER games retailer Game Group said its profit margins would fall by more than expected as it steps up promotions to lure cash-strapped shoppers and maintain share in a cut-throat competitive market. Game, which has been hit by the absence of new games console launches this year, said yesterday sales trends had improved in recent [...]
A Twentieth Century business model can’t keep up with leaner competitors December 8, 2010 THERE isn’t anything particularly wrong with the way management is running Game Group. Like-for-like sales are still falling, an inevitability when one considers the unbelievable hype that surrounded the Nintendo Wii last year, but the declines are starting to narrow. The firm’s decision to focus on market share also appears to make sense, as does [...]
Game Group profits to be hit by discounts December 8, 2010 Computer games retailer Game Group said profit margins would fall by more than expected this financial year as it cut prices to retain share in a market being targeted by grocers and other retailers. Game, which trades from over 1,300 outlets in nine European countries and Australia, said on sales trends had improved in recent [...]
Retailers and commodities push FTSE to three-week high December 7, 2010 Britain’s top shares closed at their highest level in over three weeks yesterday, lifted by commodity makers and retailers as equities remained the preferred asset class among investors despite macro concerns. The FTSE 100 ended up 38.17 points, or 0.7 per cent, at 5,808.45, having closed 0.4 per cent higher on Monday and 7.3 per [...]
Banks: retail sector is competitive December 7, 2010 LEADING banking industry figures yesterday defended the level of competition in the UK’s retail banking sector, in evidence to the Treasury Select Committee. Lloyds Banking Group chief executive Eric Daniels, whose bank faces the possibility of being broken up by the government, denied that the UK market was made uncompetitive by four of the top [...]
Tesco in Asia lift as UK also bounces back December 7, 2010 TESCO yesterday reported an 8.8 per sales cent rise in the third quarter helped by a strong performance from international stores. The supermarket chain said it was performing in line with expectations while its market share was being boosted by the opening of more store space. Total international sales jumped by 15.7 per cent while [...]
Chains boosted by festive spending on crisps and drink December 7, 2010 SALES of groceries at the major supermarket chains jumped in the final weeks of November, in a boost for the retail sector. J Sainsbury was the strongest performer with 6.8 per cent growth. There was 4.8 per cent growth on average across the board, according to the figures from retail analysts Nielsen. Chains outside the [...]
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 [...]