Tesco loses more market share as supermarket sector slows to record low September 23, 2014 Growth in the supermarket sector has slowed to an all-time low, with Tesco once again losing market share to Asda, Aldi and Lidl. The troubled supermarket, which yesterday revealed a £250m black hole in its profits, saw its market share drop 4.5 per cent in the 12 weeks to September 14. During the [...]
Gimme 5: Startups crowdfunding this month September 22, 2014 Rollasole Target: £150,000 for 7.5 per cent equity If you’ve seen a pair of bendy pumps someone’s shoved in their handbag, you’ll know how useful Rollasole shoes are. Raised: £130,210 via Crowdcube 42 days left Line-Up Target: £200,000 for 9.09 per cent equity Line-Up’s technology collects and collates “what’s on” information from newspapers, radio [...]
Ultimo’s Michelle Mone on Scottish independence: Alex Salmond is “encouraging hate” and “splitting this country” September 16, 2014 Lingerie queen and fervent Better Together campaigner Michelle Mone said speaking out against independence had led to threats against her which were “off the scale and getting worse”. She told City A.M.: “People are threatening me, saying all sorts of things about coming to my house, physical violence and just really nasty stuff.” Mone, raised [...]
The financial A to Z of Scottish independence – CNBC Comment September 15, 2014 A new, independent Scotland might flummox a foreign visitor. So it’s lucky this financial A to Z has turned up – even if some say it’s a parody of the Better Together campaign. A: Alex – Scotland’s official unit of currency, though largely superseded by an informal bartering system, where one barrel of oil [...]
Waitrose feels the pressure as profit declines September 11, 2014 The John Lewis Partnership warned yesterday that the grocery market would remain tough for some time, as a strong performance across its department stores helped offset a decline at its grocery chain Waitrose. The middle-class food retailer, which accounts for about two-thirds of the group’s sales, has grown its share of the market thanks to [...]
Ocado dismisses concerns over Waitrose as sales beat forecasts September 11, 2014 SHARES in Ocado edged two per cent higher yesterday, after the online grocer surprised the City with a better-than-expected rise in sales. Ocado, which prides itself on its high-tech warehouses, said sales rose 15.5 per cent to £218.5m in the 12 weeks to 10 August, up from 13.4 per cent in the second quarter. Chief [...]
Philips needs solid numbers if he’s to see through his three-year plan – Bottom Line September 11, 2014 So you’ve had a row with your other half, and the next day, with the ensuing awkwardness still lingering, your eyes drift towards the posh chocolates in Waitrose. Combine ’em with some flowers, you reckon – chuck in a faux-sentimental card and maybe even a two-day break in Bruges – and hey presto, problem solved. [...]
Could independent Scots be charged more in shops? John Lewis’ boss thinks so September 11, 2014 Could an independent Scotland pay more than the rest of the UK for its groceries, clothing and white goods? John Lewis Partnership chairman Sir Charlie Mayfield certainly seems to think so. The retail boss, who this morning revealed half year gross sales had risen a steady six per cent to £5.01bn, told the BBC's [...]
Analysts to the fore in big sectorial shakeups September 9, 2014 ANALYST of the year The role of the analyst has become increasingly important at such an uncertain time in the economy, when everyone is looking for guidance. With the UK retail sector in turmoil over the decline of Sainsbury’s, Morrison’s, Waitrose and especially Tesco – caused mainly by the rise of the German discounters – their views [...]
City AM awards: Business of the Year nominees announced September 7, 2014 I have great pleasure in introducing the first of our shortlists for the annual City A.M. awards. As ever, the awards have attracted nominations from all sorts of diverse businesses and people who have done great things during the course of the past year, a year of recovery in the UK. We have taken on [...]