LONDON, March 12 (Reuters) – Shares in discount retailer
Poundland made a strong debut on the London Stock
Exchange on Wednesday, with the price jumping 33 percent to
nearly four times the one-pound price tag it puts on all its
merchandise, valuing the business at 998 million pounds ($1.7
Shares in the company, one of several British retailers
looking to list in London this year and capitalise on the
country’s gradually improving economy, were trading at 396.6
pence at 1243 GMT, well above the 300 pence flotation price
which had valued the firm at 750 million pounds.
LONDON, March 12 (Reuters) – British online grocer Ocado
posted an 18 percent rise in first-quarter retail
sales, putting the firm on track to make its first annual pretax
profit this year.
Britain’s traditional supermarkets are seeing little, if
any, growth in sales at their big stores but the online grocery
market is growing strongly, and Ocado’s share price has risen
more than four-fold over the last 12 months.
LONDON (Reuters) – Britain’s biggest sporting goods retailer Sports Direct has proposed a share bonus award worth 65 million pounds ($108 million) for its founder Mike Ashley that will pay out if the firm beats the profit targets of an existing staff bonus scheme.
Ashley, who holds a 62 percent stake in the company he founded in 1982, receives no salary or other bonus from Sports Direct, despite being a key figure in its success and generating free advertising for it through his ownership of English Premier League soccer club Newcastle United.
LONDON, March 11 (Reuters) – Britain’s biggest sporting
goods retailer Sports Direct has proposed a share bonus
award worth 65 million pounds ($108 million) for its founder
Mike Ashley that will pay out if the firm beats the profit
targets of an existing staff bonus scheme.
Ashley, who holds a 62 percent stake in the company he
founded in 1982, receives no salary or other bonus from Sports
Direct, despite being a key figure in its success and generating
free advertising for it through his ownership of English Premier
League soccer club Newcastle United.
LONDON (Reuters) – Britain’s fourth-biggest grocer Wm Morrison is expected to report its lowest annual profit in five years on Thursday and could also detail plans to sell about 10 percent of its freehold property and return surplus cash to shareholders.
A second straight annual profit fall from Morrisons, the shares of which have fallen 19 percent over the past six months, will shine an unflattering spotlight on its late entry into online shopping and local convenience stores – the two fastest-growing retail market segments – as well as the intense competition from the rise of discounters Aldi and Lidl.
LONDON, March 6 (Reuters) – British retailer, John Lewis
Partnership , forecast an improving economic
backdrop as 2014 progresses after posting a 10 percent rise in
It said it would pay its staff – who are all partners – a
bonus equal to nearly eight weeks pay.
LONDON, March 5 (Reuters) – Britain’s No. 5 grocer The
Co-operative plans to double the size of its grocery
convenience store estate over the next five years and will cut
prices to better compete with its “Big Four” rivals.
With a market share of 6.2 percent the Co-op is Britain’s
fifth-largest grocer after Tesco, Wal-Mart’s
Asda, Sainsbury’s and Morrisons.
BERLIN/LONDON (Reuters) – Mid-market retailers face pressure to compete on both price and quality as they battle an expansion of discount chains that is powering ahead as recession-era shopping habits become entrenched in post-crisis Europe.
The enduring appeal of a bargain has been highlighted by the success of budget fashion chain Primark, and the imminent London listings of fast-growing discounter B&M and Poundland, Europe’s largest single-price retailer.
LONDON, Feb 26 (Reuters) – British baker Greggs has
responded to a 19 percent slump in annual profit by targeting a
bigger slice of the healthy eating market as well as a move into
the digital world with a mobile phone payment option for
The Newcastle, northern England, based firm, known for its
pasties, sausage rolls, doughnuts and Belgian buns, said on
Wednesday it was seeking to further grow sales of products below
400 calories, having grown them 20 percent in 2013.
LONDON (Reuters) – Britain’s Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz), the world’s third-largest retailer, is to focus on cheaper pricing as it relaxes its view on operating margins and steps up its store revamp program and investment in online and convenience channels.
Outlining his plans at an investor and analyst seminar on Tuesday, Chief Executive Philip Clarke said the measures accelerate a turnaround plan aimed at countering increased competition in the British retail market, but which has so far failed to boost its languishing sales.