ii view: Sales retreat at Sainsbury’s July 8, 2019 | City Talk By Keith Bowman from interactive investor. Tough comparatives have impacted results for this supermarket, but that is no surprise. First quarter trading for 16 weeks to 29 June 2019 Total sales down 1.2 per cent (excluding fuel) Like-for-like sales declined 1.6 per cent (excluding fuel) Grocery sales fell 0.5 per cent General merchandise sales down 3.1 per cent [...]
Tesco shares: Reasons to be cheerful June 18, 2019 | City Talk Early selling following this Q1 update attracted bargain hunters. Our head of markets explains why. Tesco (LSE:TSCO) recovery from the dark days of having taken its eye off the ball in the UK continues apace. The radical overhaul which the business has undergone has seen Tesco’s shares rise by 50% over the last three years. More [...]
Morrisons and Amazon: Retail’s newest BFFs June 14, 2019 | City Talk By Graeme Evans from interactive investor. Extending its relationship with the world’s biggest retailer is shrewd business by Morrisons’ CEO. The quiet revolution at Morrisons (LSE:MRW) under chief executive David Potts continues to impress after the supermarket chain extended its partnership with online giant Amazon (NASDAQ:AMZN). Whereas its rivals have looked to grow through consolidation – with Tesco (LSE:TSCO) buying Booker and Sainsbury’s (LSE:SBRY) trying to [...]
Tesco sales growth slows in ‘subdued’ market June 13, 2019 Tesco sales growth slowed in the first quarter of the year due to a “subdued” UK market. The supermarket, which is the largest in the UK, said sales hit £9.08bn in its core market, representing like-for-like sales growth of 0.4 per cent. Read more: Tesco Bank quits ‘challenging’ mortgage market Analysts had predicted growth in [...]
Supreme Court gives government body chance to appeal cash machine ruling May 29, 2019 The Supreme Court has given the government the right to appeal a £300m court dispute over business rate bills for cash machines outside shops. Late last year the Court of Appeal decided in favour of supermarket giants such as Sainsbury’s and Tesco, overturning a decision that meant retailers were liable to pay business rates on their cash [...]
Big Four supermarkets stall amid fast rise of Aldi and Lidl May 29, 2019 The UK’s Big Four supermarkets all failed to post a rise in sales during the last quarter as they battled it out with the German discounters to keep their market share in an increasingly competitive landscape. While Tesco’s overall sales were flat in the 12 weeks to 19 May, its performance trumped the likes of [...]
Cobra Beer founder Lord Bilimoria set to be appointed next CBI president May 26, 2019 Cobra Beer founder and second referendum backer Lord Bilimoria is the leading candidate to become the next president of the Confederation of British Industry (CBI). The entrepreneur has been lined up to replace Tesco chairman John Allan at the helm of the influential business lobbying group, Sky News reported. Read more: Cobra's Lord Karan Bilimoria [...]
Tesco Bank quits ‘challenging’ mortgage market May 21, 2019 Tesco Bank has thrown in the towel on mortgages, ceasing all new lending as it attempts to sell of its existing ledger book. Read more: How London house prices in every borough have performed in 2019 Currently the bank has 23,000 mortgage customers who it has lent £3.7bn, a portfolio it is now exploring the [...]
Morrisons fails to convince despite Ocado deal May 16, 2019 | City Talk By Graeme Evans from interactive investor. It talks the talk, and a 6 per cent dividend yield is attractive, but can this £50 billion grocer walk the walk? Morrisons (LSE:MRW) offered more evidence of its "ever-improving shape" after a robust trading update and intriguing deal to re-write its online partnership with Ocado. While the supermarket's shares [...]
DEBATE: Is the Tesco boss right to call for slashed business rates and an online tax to save the high street? May 15, 2019 Is the Tesco boss right to call for slashed business rates and an online tax to save the high street? Robert Palmer, executive director of Tax Justice UK, says YES. Tesco’s Dave Lewis is right: the way we tax high street shops and online firms isn’t working. The tax system benefits companies like Amazon and Google, [...]
