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 [...]
And the nominees are… September 7, 2014 TOMORROW: ACCOUNTANCY FIRM OF THE YEAR ALDI The German discounter has taken the British high street by storm. Aldi now has a 4.6 per cent share of the UK market, up more than one third in a year due to consumers choosing its quality and low prices over the more established retailers. It has even [...]
Morrisons fights back as Tesco’s sales get worse August 27, 2014 The challenges facing Tesco incoming boss Dave Lewis were further laid bare yesterday after figures out yesterday showed a worsening sales performance at Britain’s largest grocer. According to data from Kantar Worldpanel, Tesco’s sales declined by four per cent year-on-year in the 12 weeks to 17 August. This means its market share fell to 28.8 [...]
Lidl by Lidl, the discounters are still on the rise – Bottom Line August 27, 2014 Fresh data, but no fresh hope for the mid-market grocers. Tesco dropped its market share to 28.8 per cent in the 12 weeks to 17 August, down from 30.2 per cent last year. Sainsbury’s also edged down. By contrast, premium player Waitrose grew its market share to 4.9 per cent – and its take at [...]
Tesco loses market share as more than half of Brits now shop at Aldi and Lidl August 27, 2014 Tesco's rival Asda has eaten away at its market share, while more than half of Brits now shop at budget grocers Aldi and Lidl, according to Kantar Worldpanel figures. The data released this morning shows over the 12 weeks to 17 August, grocery price inflation has fallen for the 11th consecutive period and is [...]
Carve Tesco into three, says former director August 26, 2014 A former Tesco executive has called for the business to be radically restructured by its incoming boss, creating three separate entities. Bruno Monteyne, an analyst at Bernstein Research and previously Tesco.com's development director, has argued that carving the supermarket up could be the only way to halt its decline. He suggests dividing it [...]