Morrisons could cut dividend as earnings slump March 12, 2015 THE DAUNTING task facing the new boss of Morrisons was illustrated on yesterday when UK’s fourth biggest supermarket reported its lowest annual profit in eight years and warned investors it would cut its dividend. The profit slump, a third straight decline, reflects Morrisons’ decision last year to spend £1bn on price cuts over three years [...]
Morrisons share price falls as it announces 23 store closures after losses mount and sales drop March 12, 2015 A bad morning for Morrisons. The supermarket announced it will close 23 stores and cutting its future dividend pay-out after reporting a large full-year loss and falling quarterly sales. Shares in the retailer opened one per cent down this morning. The trading environment is a tough one, Morrisons said, and it isn’t expected to get [...]
Tesco recovers from 18 months of slow sales March 10, 2015 TESCO has posted its strongest performance in 18 months, with sales up 1.1 per cent compared with 2014, according to industry data for the 12 weeks ending 1 March. The latest grocery share figures from Kantar Worldpanel suggest that the major overhaul of strategy at the UK’s biggest retailer by new chief executive Dave Lewis [...]
Grocery price war continues: Tesco’s rebound hurts Asda as Aldi reaches record market share March 10, 2015 Tesco's return to growth is stealing market share from Asda, according to the latest figures from Kantar Worldpanel. The sector as a whole is still hugely competitive: the grocery price war has driven supermarket deflation to a record level of 1.6 per cent for the 12 weeks to March 1. Kantar estimated that this had [...]
Ocado sales jump 19.2 per cent as company says it expects to keep growing ahead of the curve March 10, 2015 The figures Ocado’s group sales jumped 19.2 per cent in the 12 weeks to 22 February, rising to £271.1m, from £227.5m during the same period last year. Meanwhile, retail sales were up a similarly impressive 15.2 per cent to £252.0m, two months after the company reported its first profit. Ocado said that on 22 February it had [...]
Morrisons to cut dividend and post lowest profit in eight years March 9, 2015 Morrisons is expected to signal lower dividend payouts on Thursday this week when the troubled supermarket chain is to report its lowest annual profit in eight years. The Bradford-based retailer has been hit hard by the fierce industry price war as all big four supermarkets battle it out to retain customers’ loyalty and fend off [...]
Eat like an Oscars star: Now Aldi is selling Wagyu beef burgers March 3, 2015 We've had luxury wine, scallops and lobsters. Now Aldi is offering British customers Wagyu burgers – one of the most expensive types of beef – at knock down prices. For a limited time only the discount grocer will sell the premium products, made from New Zealand grass-fed cattle – for £2.99 for two. In [...]
Morrisons share price edges up as it names former Tesco man David Potts as chief exec February 25, 2015 Shares in embattled supermarket Morrisons opened one per cent higher this morning, after it named its new chief executive: former Tesco Asia boss David Potts. The supermarket launched its search for new boss in January, after chief executive Dalton Philips announced his departure. The appointment is part of a fresh start for the company: chairman Andrew [...]
Asda sales drop as boss Andy Clarke admits “pace and scale of change exceeded expectations” February 19, 2015 The boss of Asda has warned that the retail sector is in “one of its most challenging and changeable periods in history” as the supermarket today posted a drop in sales in 2014. The figures Like-for-likes at Wal-mart owned Asda dropped one per cent in the 12 months to December 31, while fourth quarter figures [...]
German discounters Aldi and Lidl take 10 per cent slice of UK grocery sector February 13, 2015 Discounters Aldi and Lidl now account for more than 10 per cent of the UK's grocery sales, taking £1 in every £9.31 spent at supermarkets in the last three months. The German retailers' combined market share stood at 10.7 per cent for the 12 weeks to January 31, up from 9.3 per cent last [...]