All Grocery articles – Page 593
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NewsOrganic food sales hit during the recession
Sales of organic food and drink plummeted 12.9% last year as cost-conscious shoppers turned their backs organic products with higher price points.
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NewsFormer Baugur boss sued for £30m by nationalised Icelandic bank
Jon Asgeir Johannesson, the former boss of collapsed Icelandic investment vehicle Baugur, is being sued by nationalised Icelandic bank Glitnir for £30m over claims that he used his influence as a major shareholder to secure a personal loan.
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NewsMorrisons claim shareholders blocked a competitive pay package for Marc Bolland
Morrisons has claimed shareholders blocked plans to increase pay awards for its former boss Marc Bolland who was poached by M&S to take over as its chief executive.
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News
Tesco opens first Extra store outside Britain
Tesco has launched its first Tesco Extra store outside Britain in Central Europe, in Bratislava, Slovakia.It has revamped the hypermarket in the capital’s Petržalka suburb to introduce the format, which offers services and boasts self-checkouts.Tesco’s Petržalka store director said: “It is the first Tesco Extra outside Britain. Operating directors from ...
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News
Grocery accounts for majority of Walmart US sales
Walmart revealed that its US division generated a majority of its sales from grocery categories for the first time in its history last year.Grocery sales - including meat, produce, deli, bakery, dairy, frozen foods, floral and dry groceries, as well as consumables such as health and beauty aids, household chemicals, ...
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News
Magnit profits up 46%
Net profits at local grocery chain Magnit jumped 46% in 2009 to $275.2m (£176m).Preliminary net retail revenue rose 28% to RUB169.6bn (£3.79bn). Like-for-likes climbed 4%, helped by a 6% rise in average basket value. The retailer added 646 stores in the year. Magnit said it will continue to cut prices ...
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News
Carrefour to invest up to £40m in Argentina
Carrefour will invest as much as ARS250m (£40m) in its stores network in Argentina this year as supermarket sales recover.The retailer, which operates under banners including Dia in the country, invested ARS1.25bn (£202m at current exchange rates) in stores growth between 2006 and 2009, and will add 23 stores to ...
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News
Rewe plans £360m investment in Austria
Rewe Group’s international arm plans to invest €400m (£360m) this year in Austria, where the division is based, and abroad.The figure is 20% less than last year, when Rewe International invested €500m (£446m), out of which €200m (£178m) was ploughed into Austria.Frank Hensel, the international arm’s chief executive, told financial ...
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News
Migros net sales down 3%
Swiss market leader Migros reported group net sales declined 3% to CHF24.95bn (£14.7bn) for 2009.The group blamed lower prices of Migros’ products, a dramatic drop in crude oil prices and a decline in business travel for the drop. However, net profit soared 20.8% to CHF846m (£500m). And the group’s other ...
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NewsMorrisons’ new boss Dalton Philips awarded £6m reward package
New Morrisons chief executive Dalton Philips’ total remuneration package amounts to £6m, it has emerged.
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NewsJohn Lewis launches new department to tempt international shoppers
John Lewis is launching a new department in its Oxford Street store to lure international shoppers.
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Opinion
Stuart Rose’s final flourish at M&S
Stuart Rose’s last trading update before Marc Bolland takes over the reins was a strong one, but no-one wanted to talk about it this morning.
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NewsM&S Q4 sales beat expectations
Marks & Spencer has revealed a 5.1% increase in fourth quarter like-for-like sales, well above expectations, driven by a strong performance from general merchandise.
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NewsSainsbury’s launches Nectar credit card
Sainsbury’s Finance has launched two credit cards aimed at Sainsbury’s shoppers, promising low interest rates and in one case bonus Nectar card points for its customers.
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NewsFood inflation falls to three-year low
Food inflation fell to a three-year low and overall shop price inflation slowed in March to 1.2% from 1.7% in February according to the latest figures from the British Retail Consortium (BRC).
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NewsFashion drives John Lewis sales while Waitrose benefits from Delia effect
Fashion sales drove a strong week at department store chain John Lewis as the warmer weather stimulated sales of summer ranges.
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NewsMorrisons awards shares to new chief executive Dalton Philips
Supermarket group Morrisons has awarded two tranches of shares to new chief executive Dalton Philips who took up his role earlier this week.
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NewsRetailers strike back in National Insurance row
Retail leaders have hit back after top Labour politicians accused them of having been “deceived” into supporting Conservative plans to reverse part of the Government’s proposed National Insurance rise.
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NewsFood price war erupts as retailers target family-focused Easter spend
Waitrose’s Delia Smith and Heston Blumenthal-inspired recipe campaign has sparked an early Easter price war among the grocers as the supermarket chains attempt to capitalise on family meal sales over the long weekend.Waitrose confirmed that it sold as much rhubarb in one weekend as it would expect to sell in ...
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AnalysisDiscount conversion won’t solve hypermarket woes
Remodelling an underperforming store into a discount format does not really address the underlying concerns regarding the profitability of a particular hypermarket.