UPDATE: Tesco Calls For No Rise In VAT As 1Q Sales Slow
15th Jun 2010 08:11
(Adds CEO, FD comment, detail.) By Simon Zekaria Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Tesco PLC (TSCO.LN), the U.K.'s largest retailer by sales, Tuesday called on the government not to damage a fragile economy by raising value-added tax. Finance Director Laurie McIlwee said t
Read moreTesco UK Sales Slow;Says Well-Positioned For Economic Recovery
15th Jun 2010 07:17
By Simon Zekaria Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Tesco PLC (TSCO.LN), the U.K.'s largest retailer by sales, Tuesday reported slowing U.K. sales growth in the first quarter but said it is well-positioned for the future. "We're in good shape and well-positioned to deliver furt
Read moreMorrisons Fin Director Doesn't Expect Govt To Impose VAT On Food
10th Jun 2010 17:54
LONDON (Dow Jones)--William Morrison Supermarkets PLC's (MRW.LN) Finance Director Richard Pennycook said Thursday he doesn't expect the U.K. government to impose value- added-tax on food in a bid to cut the deficit. Speaking on the sidelines of retail conference, Pennycook said: "I don't believe
Read moreCORRECT: 2nd UPDATE: Clarke To Take Helm At Tesco As Leahy Steps Down
8th Jun 2010 18:00
("=2nd UPDATE: Clarke To Take Helm At Tesco As Leahy Steps Down," at 1020 GMT, misstated Leahy's age in the third paragraph. The error also appeared in "=PROFILE: Incoming Tesco CEO Clarke Is Company Veteran" at 1521 GMT, "=UPDATE: Clarke To Take Helm At Tesco As Leahy Steps Down" at 0812 GMT and "=
Read moreSector movers: Supermarkets fall after board changes
8th Jun 2010 14:56
Tesco is leading the food retail sector lower after announcing that chief executive Sir Terry Leahy is to retire next March with Philip Clarke moving up to take his place as CEO at the UK's top supermarket chain. Leahy steps down after 14 years in the top job, a period that has seen Tesco become th
Read more2nd UPDATE: Clarke To Take Helm At Tesco As Leahy Steps Down
8th Jun 2010 11:20
(Adds analyst comment, detail.) By Simon Zekaria and Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Tesco PLC (TSCO.LN), the world's fourth-biggest retailer by sales, said Tuesday that Chief Executive Terry Leahy will retire in March next year, and Philip Clarke, who curren
Read moreWm Morrison names Hodgson Commercial Director
8th Jun 2010 07:48
Wm Morrison has appointed Waitrose's Richard Hodgson as commercial director. Prior to his role as commercial director at Waitrose, Hodgson, 40, spent 10 years at Asda, most recently as Brand and Marketing Director. Morrisons also announced trading director Martyn Jones will move into a new role a
Read moreWilliam Morrison Supermarkets Names New Corporate Services Director
8th Jun 2010 07:37
LONDON (Dow Jones)--William Morrison Supermarkets PLC (MRW.LN), the U.K. food retailer, said Tuesday it has appointed Richard Hodgson Group Commercial Director and Martyn Jones to the new role of Group Corporate Services Director. MAIN FACTS: -Jones will focus on Government Affairs, Corporat
Read moreBroker tips: Next, Morrisons, Tomkins
7th May 2010 13:35
UBS has nudged up its price target for Next after the fashion retailer's trading update on Wednesday. The broker has left unchanged its prediction of a 1% decline in like for like sales over the full year for the High Street operations but has revised its forecast for the online and catalogue busin
Read moreBroker snap: Morrisons coming back to the pack
7th May 2010 13:35
Morrisons has been the star performer in the supermarket sector over the last few years but those days could be drawing to a close. Citigroup warns. The supermarket reported 0.8% like for like growth (excluding fuel and VAT) in the first quarter compared to the comparable period of 2009. The market
Read moreLondon close: Greece pulls Footsie down again
6th May 2010 16:43
Footsie ended the day sharply lower as Greece's problems reared up again and investors fretted about the outcome of today's election. Banks were hit hard as ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, HSBC and even Asia-foc
Read moreLondon afternoon: Banks throw a Moody
6th May 2010 14:16
Footsie's morning gains evaporated over the lunch time session as fears over the debt crisis spreading from Greece reared up again. Banks were hit hard as ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, HSBC and even Asia-focus
Read moreLondon midday: Modest gains for Footsie
6th May 2010 12:19
Footsie finished the morning in positive territory after a nervous start, with those looking for an excuse to buy finding plenty of reasons to do so from some of the big companies declaring results today. Fund manager Schroders is top of the tree after it said the momentum built up in 2009 has cont
Read moreLondon open: Footsie adds to losses
6th May 2010 08:20
London's top stocks are continuing this week's downward trend as the economic turmoil in Greece is still worrying investors. The European Central Bank is meeting this morning to discuss how to protect the Euro and calm down fears of a contagion. Wm Morrison is one of this morning's fallers after t
Read moreLondon pre-open: More falls expected
6th May 2010 07:38
Footsie is expected to fall further in early dealings falling a drop on Wall Street overnight as the economic turmoil in Greece continues to worry investors. Investors also have a stream of company updates to digest. Supermarket group Wm Morrison reported a small rise in first-quarter like for lik
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