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.
LONDON, Feb 25 (Reuters) – Britain’s Tesco, the
world’s third-largest retailer, will accelerate a turnaround
plan for its key home market, stepping up the pace of large
store revamps and investment in online and convenience channels
as well as in price cuts.
In a statement published ahead of an investor and analyst
seminar on Tuesday, the group also said it plans a further
significant reduction in net new space, resulting in a reduction
in overall capital expenditure.
LONDON, Feb 24 (Reuters) – Associated British Foods
has no plans to separate its high-flying Primark discount
fashion chain from its grocery and struggling sugar businesses,
despite their divergent performances and lack of overlap, the
firm said on Monday.
With double-digit percentage sales growth at Primark
contrasting with big falls in revenue from sugar, perennial
speculation of a possible break up has resurfaced among traders
and the media.
LONDON (Reuters) – Britain’s Dixons Retail (DXNS.L: Quote, Profile, Research, Stock Buzz) and Carphone Warehouse (CPW.L: Quote, Profile, Research, Stock Buzz) are in merger talks that could create an electrical goods and mobile-phone group with a market capitalization of more than 3.4 billion pounds ($5.84 billion).
A combination of Dixons, Europe’s No. 2 electricals retailer, and Carphone, Europe’s largest independent mobile-phone retailer, would probably place the merged group in Britain’s FTSE 100 index of leading companies.
ISTANBUL/LONDON Feb 24 (Reuters) – Tesco, the
world’s No. 3 retailer by sales, is in talks with several
companies over a possible restructuring of its struggling
business in Turkey.
The British retailer has been in Turkey since 2003 but has
suffered poor trading from its 191 stores recently, with
underlying sales at Tesco Kipa falling 10.7 percent in
its second quarter to the end of August.
LONDON, Feb 20 (Reuters) – Britain’s economic recovery is
fragile, with huge regional variations, the head of Asda
supermarkets said on Thursday as the company reported flat sales
over the key Christmas quarter.
Andy Clarke, chief executive of the British arm of U.S.
retailer Wal-Mart Stores, said he did not expect the
regional disparities to change dramatically in 2014.