UK retail correspondent
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Dec 17, 2014

Dixons Carphone says ‘Black Friday’ here to stay

LONDON (Reuters) – “Black Friday” is becoming a welcome fixture in the British retail calendar, consumer electricals chain Dixons Carphone (DC.L: Quote, Profile, Research) said on Wednesday, adding it was close to being its busiest day.

Most British retailers fully embraced Black Friday promotions this year, both in store and online, seeking to follow their counterparts across the Atlantic and kickstart trading early in the key Christmas period.

Dec 17, 2014

UK’s Dixons Carphone says “Black Friday” here to stay

LONDON, Dec 17 (Reuters) – “Black Friday” is becoming a
welcome fixture in the British retail calendar, consumer
electricals chain Dixons Carphone said on Wednesday,
adding it was close to being its busiest day.

Most British retailers fully embraced Black Friday
promotions this year, both in store and online, seeking to
follow their counterparts across the Atlantic and kickstart
trading early in the key Christmas period.

Dec 12, 2014

Tesco’s new boss looks to avoid nightmare before Christmas

LONDON (Reuters) – Dave Lewis, the new boss of Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz), Britain’s biggest grocer, is betting on a customer charm offensive coupled with selective price cuts to prevent poor Christmas trading compounding an already disastrous year for investors.

The group, like its big three UK rivals Wal-Mart’s Asda (WMT.N: Quote, Profile, Research, Stock Buzz), Sainsbury’s (SBRY.L: Quote, Profile, Research, Stock Buzz) and Morrisons (MRW.L: Quote, Profile, Research, Stock Buzz), has suffered as shoppers turn against the traditional big weekly hypermarket shop.

Dec 9, 2014

Tesco’s fourth profit warning in five months sends shares tumbling

LONDON, Dec 9 (Reuters) – Tesco slashed its profit
forecasts for the fourth time in five months as its new boss
took costly measures to rebuild the British grocer after its
recent accounting scandal and dramatic loss of customers in an
increasingly cut-throat market.

Shares in the world’s third-biggest retailer plunged as much
as 17 percent at one point on Tuesday to a 14-year low, wiping
more than 2.5 billion pounds ($3.9 billion) off its stock market
valuation, after the group cut its full-year trading profit
forecast by nearly a third.

Dec 9, 2014

Troubled Tesco warns on profit again

LONDON (Reuters) – British grocer Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz) has cut profit expectations for the fourth time this year, blaming the cost of trying to recover from an accounting scandal and a slide in market share.

Shares in the world’s third-biggest retailer plunged as much as 17 percent to a 14-year low on Tuesday, after it said group trading profit for the year ending February 2015 would not exceed 1.4 billion pounds ($2.2 billion).

Dec 8, 2014

Marks & Spencer shoppers face longer wait for online orders

LONDON (Reuters) – Marks & Spencer, Britain’s biggest clothing retailer by sales, admitted on Monday it had been forced to extend delivery times for online orders as a new distribution centre has struggled to cope with heavy Christmas demand.

Improving its online offer is a central plank of M&S’s strategy to reverse nearly a decade of market share decline in its clothing business. Its stock was the second-biggest faller on Britain’s FTSE 100 index of blue chips on Monday.

Dec 8, 2014

M&S shoppers face longer wait for online orders

LONDON, Dec 8 (Reuters) – Marks & Spencer, Britain’s
biggest clothing retailer by sales, admitted on Monday it had
been forced to extend delivery times for online orders as a new
distribution centre has struggled to cope with heavy Christmas
demand.

Improving its online offer is a central plank of M&S’s
strategy to reverse nearly a decade of market share decline in
its clothing business. Its stock was the second-biggest faller
on Britain’s FTSE 100 index of blue chips on Monday.

Dec 5, 2014

Canary Wharf owner rebuffs new 2.6 billion pound bid from Qatar

LONDON (Reuters) – The owner of London’s Canary Wharf on Friday rebuffed a raised 2.6 billion pound bid for the financial district from Qatar and a North American investor saying it was too low.

Songbird Estates (SBDE.L: Quote, Profile, Research) said the 350 pence per share offer from Qatar Investment Authority (QIA) and Brookfield Property Partners LP (BPY.N: Quote, Profile, Research) “does not reflect the full value of the company, its unique position and future growth potential”.

Dec 5, 2014

Canary Wharf owner rebuffs new $4 billion bid from Qatar

LONDON (Reuters) – The owner of London’s Canary Wharf on Friday rebuffed a raised 2.6 billion pound ($4.1 billion) bid for the financial district from Qatar and a North American investor saying it was too low.

Songbird Estates (SBDE.L: Quote, Profile, Research, Stock Buzz) said the 350 pence per share offer from Qatar Investment Authority (QIA) and Brookfield Property Partners LP (BPY.N: Quote, Profile, Research, Stock Buzz) “does not reflect the full value of the company, its unique position and future growth potential”.

Dec 2, 2014

Tesco’s shares rise after CEO’s move to take the helm in UK

* Dave Lewis takes charge of UK business on temporary basis

* Analysts welcome “sensible” move

* Shares rise 2 pct

(Adds details, analysts’ comments, share price)

By James Davey

LONDON, Dec 2(Reuters) – A decision by Tesco’s new
chief executive to personally take over the day-to-day running
of the grocer’s core British business as it heads into the key
Christmas trading period was broadly welcomed as a pragmatic
move by analysts on Tuesday.

Shares in Tesco, which have fallen 44 percent so far this
year after an accounting scandal compounded a succession of
profit warnings, closed up 2 percent on Tuesday, following the
management reshuffle announced by Tesco after the stock market
closed on Monday.

    • About James

      "Based in London I cover the UK retail and consumer sector with an emphasis on quoted companies and broader macro themes. I was previously an equities reporter at Extel, AFX and Thomson Financial."
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