Sainsbury's to axe 3,500 jobs in stores revamp, Argos closures
5th Nov 2020 07:01
(Sharecast News) - Sainsbury's said it was axing up to 3,500 jobs as part of a shakeup of its fresh fish and meat counters and Argos stores while reporting a 6.9% rise in first-half retail sales.
Read moreSunday newspaper round-up: Furlough scheme, National lockdown, Food banks
1st Nov 2020 16:34
(Sharecast News) - The chancellor dramatically extended his furlough scheme last night, just hours before it was due to end, bowing to demands from business leaders for more financial support throughout the new four-week lockdown in England. Rishi Sunak said the decision was necessary because of the return of "stay at home" restrictions to contain Covid-19. News of the new lockdown, first reported by The Times, had sparked fury from bosses. "We will do whatever it takes as the situation evolves," Sunak said. - Sunday Times
Read moreWaitrose and Co-Op join price war, cut prices for essential goods by 15%
21st Oct 2020 10:12
(Sharecast News) - Waitrose and Co-Op are cutting prices of essential goods by an average of over 15% ahead of a Christmas that will likely bring more economic travails for customers.
Read moreAsda launches green strategy to cut single-use plastics
20th Oct 2020 09:52
(Sharecast News) - Asda launches fruit and vegetable strategy in new sustainability store to try to cut down on single-use plastics and promises "greener" products without packaging at the same price.
Read moreSector movers: Utilities and Food retailers sought out as Covid-19 cases climb
13th Oct 2020 15:46
(Sharecast News) - Stocks were pummeled on Tuesday as concerns mounted that the rising rate of Covid-19 infections might force the government into tightening lockdown measures further, on top of a day fraught with nervousness around the ongoing Brexit talks with Brussels.
Read moreUK grocery sales rise as Covid-19 restrictions bite
13th Oct 2020 07:42
(Sharecast News) - UK grocery sales jumped in September, industry data showed on Tuesday, as more stringent restrictions were introduced to tackle the resurgence in Covid-19.
Read moreGrocery spending slows as shoppers dine out during August
15th Sep 2020 11:13
(Sharecast News) - Around £155m was wiped off UK grocery sales in August, industry research showed on Tuesday, as consumers took advantage the government's Help Out to Eat Out scheme and the easing of lockdown restrictions.
Read moreHammerson is most shorted UK company, alongside Metro Bank and Sainsbury's
9th Sep 2020 14:19
(Sharecast News) - Hammerson is the most shorted UK listed company as investors bet against the beleaguered shopping centre operator, research shows.
Read moreAmazon plans expansion of UK delivery service
28th Jul 2020 09:51
(Sharecast News) - Amazon is planning a wider UK rollout of its online grocery service by the end of 2020 as it tries to take advantage of consumers' needs during the pandemic.
Read moreUK grocery sales continue to grow at record rate
21st Jul 2020 11:03
(Sharecast News) - British grocery sales recorded the fastest rate of growth on record in the last three months to top £31bn, industry data showed on Tuesday.
Read moreWalmart resumes talks to sell Asda
20th Jul 2020 15:52
(Sharecast News) - US retailer Walmart has restarted talks regarding a potential sale of Asda having halted previous negotiations in the wake of the Covid-19 pandemic.
Read moreMorgan Stanley sees cycle turning higher for 'value' stocks
13th Jul 2020 13:55
(Sharecast News) - Equity strategists at Morgan Stanley sounded a positive note on so-called 'value' stocks, arguing that the economic cycle was shifting into a 'recovery regime' - but there was catch.
Read moreSunday newspaper round-up: Vouchers, Grocers, Boohoo
5th Jul 2020 15:59
(Sharecast News) - Radical plans to give all adults £500 and children £250 in vouchers to spend in sectors of the economy worst hit by the Covid-19 crisis are being considered by the Treasury. The proposals, drawn up by the Resolution Foundation think tank, which has had recent talks with the Treasury about its ideas, are aimed at kickstarting economic recovery by triggering a highly targeted surge in spending. Under the plans the vouchers could only be spent in certain sectors, such as hospitality and "face to face" retail, as opposed to online. - Guardian
Read moreThursday broker round-up
2nd Jul 2020 13:42
(Sharecast News) - Rio Tinto: Deutsche Bank upgrades to buy with a target price of 4,900.0p.
Read moreSainsbury's rerating provides 'selling opportunity', says Berenberg
2nd Jul 2020 10:14
(Sharecast News) - Analysts at Berenberg reiterated their 'sell' rating on supermarket giant Sainsbury's on Thursday, stating the group's recent performances provided a "selling opportunity".
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