UK retail correspondent
James's Feed
Oct 17, 2014

Travis Perkins sales growth slows, says outperforming market

LONDON, Oct 17 (Reuters) – Travis Perkins Plc,
Britain’s No. 1 supplier of building materials, posted slowing
sales growth in its third quarter, though it still won market
share, it said on Friday.

Shares in the company which trades from 16 other brands
including Wickes, City Plumbing, Keyline, Tile Giant and BSS,
fell up to 4 percent in early trading.

Oct 14, 2014

Burberry says markets getting tougher

LONDON (Reuters) – British luxury brand Burberry (BRBY.L: Quote, Profile, Research, Stock Buzz) warned that conditions in some of its markets, including China, had worsened in its second quarter, overshadowing a 14 percent increase in the group’s first-half sales.

Shares in the 158-year-old fashion company, known for its raincoats with camel, red and black check patterned linings, fell up to 6 percent on Tuesday after Burberry said the “external environment (was) becoming more difficult.”

Oct 8, 2014

Price cuts no quick cure for Tesco’s ills

LONDON (Reuters) – Cheaper meat and vegetables should draw shoppers back into Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz) stores but it will take time for the new boss of Britain’s biggest grocer to win back market share.

Customers seeking to save money in a sluggish economy have turned away from the market leader to discounters such as Aldi [ALDIEI.UL] and Lidl [LIDUK.UL], igniting a price war in British grocery shopping and contributing to a series of Tesco profit warnings.

Oct 3, 2014

John Lewis boss apologises for saying France in decline, station squalid

LONDON, Oct 3 (Reuters) – The head of British retailer John
Lewis has apologised after saying France is such a hopeless
country where nothing works that investors should pull their
money out quickly.

“I have never been to a country more ill at ease … nothing
works and worse, nobody cares about it,” Managing Director Andy
Street was quoted by the Times newspaper as telling a London
audience in a dinner speech after his train was delayed from
Paris.

Oct 3, 2014

France is finished so get your money out, Britain’s John Lewis boss says

LONDON, Oct 3 (Reuters) – France is such a hopeless country
where nothing works that investors should pull their money out
quickly, the head of British retailer John Lewis said in an
extraordinary dinner speech after his train was delayed from
Paris.

“I have never been to a country more ill at ease . . .
nothing works and worse, nobody cares about it,” Managing
Director Andy Street was quoted by the Times newspaper as
telling a London audience.

Oct 2, 2014

UK’s Morrisons fights discounters with price match card

LONDON, Oct 2 (Reuters) – British grocer Morrisons
will launch its first customer loyalty card on Friday, opening
up a new front in an escalating price war with a scheme that
guarantees to match discounters Aldi and Lidl as well as
traditional rivals.

The initiative, announced by Morrisons on Thursday, comes a
day after “big four” rival Sainsbury’s cut its annual
sales forecast and warned of the most challenging market
conditions for 30-years, knocking 1.2 billion pounds ($1.94
billion) off the value of the quoted UK grocery sector, which
also includes market leader Tesco.

Oct 2, 2014

Insight – Tesco’s 250-million-pound black hole: Who was minding the shop?

LONDON (Reuters) – “Things are always unnoticed, until they’re noticed,” Tesco Chairman Richard Broadbent said when asked how Britain’s biggest retailer had failed to spot a 250 million pound sized hole in its first-half profits.

It was an oversight that led to a 4 billion pound drop in Tesco’s market value and the suspension of four senior executives. The newly installed CEO called in forensic accountants and lawyers to find out what went wrong.

Oct 2, 2014

Tesco’s 250-million-pound black hole: Who was minding the shop?

LONDON (Reuters) – “Things are always unnoticed, until they’re noticed,” Tesco Chairman Richard Broadbent said when asked how Britain’s biggest retailer had failed to spot a 250 million pound ($410 million) sized hole in its first-half profits.

It was an oversight that led to a 4 billion pound drop in Tesco’s market value and the suspension of four senior executives. The newly installed CEO called in forensic accountants and lawyers to find out what went wrong.

Oct 1, 2014

UK’s Sainsbury’s cuts full-year sales forecast after trading drops

LONDON, Oct 1 (Reuters) – Britain’s J Sainsbury cut
its full-year sales forecast on Wednesday after trading fell
sharply in the second quarter, dragged down by intense
competition in a UK grocery market growing at its slowest pace
for more than 20 years.

The group, which trails troubled market leader Tesco
and is battling with Wal-Mart Stores’ Asda to
be the UK’s No. 2 grocer, said sales at stores open a year fell
2.8 percent, excluding fuel, in the 16 weeks to Sept. 27, its
fiscal second quarter.

Sep 30, 2014

UK’s Next warns warm weather could hit profits

LONDON, Sept 30 (Reuters) – British retailer Next
warned on Tuesday it will have to lower profit forecasts if
unusually warm autumn weather continues and shoppers don’t buy
winter clothing, denting shares across the sector.

Shares in Next, Britain’s second biggest clothing retailer
by sales, fell as much as 5.6 percent. Shares in Marks & Spencer
, the country’s largest clothing retailer, declined by up
to 4.4 percent, while department store Debenhams were
down by up to 4.7 percent.

    • 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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