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 [...]
Why bombed-out Sainsbury’s leads the FTSE 100 May 10, 2019 | City Talk Hammered since the Asda merger was blocked, our head of markets explains the surge to a three-week high. Rather than fight the decision of the Competition and Markets Authority (CMA), Sainsbury (LSE:SBRY) and Asda decided to call off the wedding. This leaves a huge strategic question mark over where Sainsbury's goes next. Not surprisingly, the [...]
Sainsbury’s profit plummets after spending £46m on failed Asda merger May 1, 2019 Sainsbury’s profits tumbled 42 per cent last year as the supermarket giant spent £46m on its failed merger with Asda, it revealed this morning. Read more: Watchdog kills Sainsbury's-Asda merger: What went wrong? The supermarket suffered a body blow last week when the Competition and Markets Authority (CMA) banned the proposed merger “in its entirety”, a [...]
Sainsbury’s: Buyers bet that shares have seen the low April 26, 2019 | City Talk By Graeme Evans from interactive investor. Trading within a whisker of a record low, a lot of bad news is already written into the share price. Yesterday’s humiliation of Sainsbury (J) (LSE:SBRY) and its boss Mike Coupe has not stopped investors from piling into the supermarket giant’s shares in the belief the chain can bounce [...]
Chickens come home to roost for Mike Coupe as Sainsbury-Asda deal dies February 22, 2019 | City Talk Mike Coupe was a happy chappy back in April. Notably he was caught on camera humming the lyrics to the gold digger's song – 'we're in the money' etc, after announcing a supermarket mega merger like no other. This week however the companies' complete lack of understanding of the Competition and Markets Authority has come [...]
Odeon director Welch joins Hammerson board February 5, 2019 Shopping centre landlord Hammerson has appointed Odeon director Carol Welch to its board. The move, which comes as Hammerson embarks on a radical overhaul of its business, follows on from last week’s announcement that former Argos boss Terry Duddy was stepping down from the board in the wake of his new role at Debenhams as interim chairman. [...]
Interim Debenhams chair shortlisted for Moss Bros role February 1, 2019 The interim chair of Debenhams could be in line for the role of chair at suit retailer Moss Bros. According to Sky News, Terry Duddy has been shortlisted as a potential successor to current Moss Bros chair Debbie Hewitt, who will step down from her role later this year. Duddy took on the chairman role [...]
City Moves for 21 January – who’s switching jobs at Superunion, Opengamma and Aviva? January 21, 2019 Who’s changing jobs today? Superunion WPP global brand agency Superunion announced the appointment of Holly Maguire as UK managing director to drive the growth of its UK business. Holly will be responsible for managing key client relationships with the likes of Coca-Cola, IAG, Nestle, Tesco and Vodafone, and building the success of Superunion since its launch [...]
Fears over business rates mount as Britain’s major retailers prepare to form action group January 13, 2019 Some of Britain’s biggest retailers are coming together in an urgent bid to seek business rates relief from the government, CityAM has learned. Around 50 major high street names are joining a mass lobbying effort to curb forthcoming rises in their property tax, as profits plunge in the face of falling sales and online [...]
Why voice assistants are set to make their ‘presents’ known this Christmas December 18, 2018 Christmas is now only a week away, and unsurprisingly gadgets will be taking up a lot of space under the tree, as people want to get their hands on the latest tech. Voice assistants are set to be an affordable, useful gift for many this year, and have become one of the hottest presents on [...]