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Sainsbury's boss looks to UK budget to lift spending gloom

Sainsbury's boss looks to UK budget to lift spending gloom CEO: Discretionary markets are difficult Clarity in Oct. 30 budget will be helpful for consumers Preparing for strong Christmas for food By James Davey COBHAM, England Oct 2 (Reuters) - Britons bruised by a cost of living crisis will not start spending strongly again until the new Labour government sets out its tax and spending plans, and interest rates fall further, the boss of supermarket Sainsbury's SBRY.L said.
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UK corporate earnings week ahead

DIARY-UK corporate earnings week ahead Sept 27 (Reuters) - Diary of U.K (.FTSE) corporate earnings for the week ahead UK EARNINGS Start Date Start Time(GMT) RIC Company Name Event Name 30-Sep-2024 NTS IMB.L Imperial Brands PLC Imperial Brands PLC ESG Investor Webinar 02-Oct-2024 06:00 JD.L JD Sports Fashion PLC Half Year 2025 JD Sports Fashion PLC Earnings Release 03-Oct-2024 BMO TSCO.L Tesco PLC Half Year 2025 Tesco PLC Earnings Release ** All times are listed in BMO - 'Before market opens', or
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Europe's STOXX 600 corporate earnings week ahead

DIARY-Europe's STOXX 600 corporate earnings week ahead Sept 27 (Reuters) - Diary of Europe's STOXX 600 (.STOXX) corporate earnings for the week ahead EUROPE'S STOXX 600 EARNINGS Date Time RIC Company Name Event Name 30-Sep-2024 NTS IMB.L Imperial Brands PLC Imperial Brands PLC ESG Investor Webinar 02-Oct-2024 06:00 JD.L JD Sports Fashion PLC Half Year 2025 JD Sports Fashion PLC Earnings Release 03-Oct-2024 BMO TSCO.L Tesco PLC Half Year 2025 Tesco PLC Earnings Release ** All times are listed in
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UK supermarket Morrisons' sales growth slows in 'softer' market

UPDATE 2-UK supermarket Morrisons' sales growth slows in 'softer' market Q3 underlying sales up 2.9% Growth was 4.1% in previous quarter CEO says group made 'good headway' in quarter Industry data shows underperformance vs Tesco, Sainsbury's Adds detail in paragraphs 2-3 and 8-13 By James Davey LONDON, Sept 26 (Reuters) - British supermarket group Morrisons' underlying sales growth slowed in its third quarter, reflecting what its new boss said was a "noticeably softer" market.
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Britain's Sainsbury's sells cash machine business

Britain's Sainsbury's sells cash machine business LONDON, Sept 25 (Reuters) - British supermarket group Sainsbury's SBRY.L said it has sold its cash machine operation in a further move to simplify its banking business and reduce costs. Sainsbury’s announced a phased withdrawal from its core banking business in January and in June struck a deal to sell most of its banking operation to NatWest NWG.L , though it retained its commission-income businesses, including insurance, travel money and its
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UK's B&M hits over 1-year low after UBS initiates coverage with 'sell'

BUZZ-UK's B&M hits over 1-year low after UBS initiates coverage with 'sell' ** British discount retailer B&M BMEB.L shares down 3.8% at 404.9p, lowest in over 1-1/2 years ** Stock is the top loser on FTSE 100 .FTSE index, which is down 0.04% ** Brokerage UBS initiates coverage of co at 'sell' with a price target of 390p ** UBS sees "diminishing com
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UK's Asda says retail veteran Stuart Rose to lead business

UPDATE 2-UK's Asda says retail veteran Stuart Rose to lead business Co-owner Mohsin Issa steps back from leadership role Search for permanent CEO continues Asda has been losing market share Adds latest market share data paragraph 3, detail 10 to 12 By James Davey LONDON, Sept 18 (Reuters) - British supermarket group Asda, which has been losing market share, said its chairman, veteran retailer Stuart Rose, will assume the executive responsibilities of co-owner Mohsin Issa, who is stepping back fr
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UK supermarket sales growth slows after summer holidays

UK supermarket sales growth slows after summer holidays UK supermarket sales up 4% in four weeks to Sept. 7 Ocado and M&S are fastest growing grocers Asda remains the worst performer LONDON, Sept 18 (Reuters) - British supermarket sales growth slowed over the last month as consumers trimmed spending after their summer holidays, industry data showed on Wednesday.
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Alstom, Siemens, Tesco

EUROPE RESEARCH ROUNDUP-Alstom, Siemens, Tesco Sept 13 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Alstom, Siemens and Tesco, on Friday. HIGHLIGHTS * Alstom ALSO.PA : HSBC raises target price to EUR 26 from EUR 24 * Hexagon AB HEXAB.ST : HSBC cuts target price to SEK 110 from SEK 120 * Siemens AG SIEGN.DE : HSBC cuts target price to EUR 140 from EUR 150 * Tesco TSCO.L : Citigroup raises target price to 425p from 350p * Travis P
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British Business - Sept 13

PRESS DIGEST-British Business - Sept 13 Sept 13 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - British public debt is likely to soar to triple its current level over the next 50 years if future governments do not take action, due to pressures from an ageing population, climate change and geopolitical risks, the Office for Budget Responsibility said on Thursday.
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Tesco loses UK legal battle over 'fire and rehire' of staff

UPDATE 3-Tesco loses UK legal battle over 'fire and rehire' of staff Tesco cannot 'fire and rehire' to remove increased pay – court Ruling is 'win for the trade union movement', union says Retailer says it wanted to 'ensure fairness' for staff Adds government comment in paragraph 5 By Sam Tobin LONDON, Sept 12 (Reuters) - Tesco TSCO.L was not entitled to terminate some employees' contracts and offer to rehire them on less favourable terms, the United Kingdom's Supreme Court ruled on Thursday.
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Tesco loses UK legal battle over 'fire and rehire' of staff

Tesco loses UK legal battle over 'fire and rehire' of staff LONDON, Sept 12 (Reuters) - Tesco TSCO.L was not entitled to terminate some employees' contracts and offer to rehire them on less favourable terms, the United Kingdom's Supreme Court ruled on Thursday. Shopworkers' union Usdaw took legal action against Britain's biggest retailer after Tesco sought to remove some warehouse workers' entitlement to increased pay by ending their contracts and offering to re-engage them – a practice often
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'The buzz is back', UK's John Lewis says turnaround plan is working

UPDATE 3-'The buzz is back', UK's John Lewis says turnaround plan is working Underlying first-half loss narrows to 5 mln stg Expects 'significantly higher' full-year profit Says well set up for a positive peak trading period Former Tesco exec Jason Tarry starts as chairman on Monday Adds CEO quote from briefing paragraph 4, detail throughout By James Davey LONDON, Sept 12 (Reuters) - British retailer the John Lewis Partnership reported a 91% reduction in first-half losses and said it was on trac
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UK grocery inflation resumes downward trend, says Kantar

UPDATE 1-UK grocery inflation resumes downward trend, says Kantar UK grocery inflation was 1.7% in four weeks to Sept. 1 - Kantar 60% of UK households worried about rising cost of shopping Grocery sales up 3.0% over four week period year-on-year Ocado and Lidl are fastest growing grocers Asda remains the laggard Adds table, detail paragraphs 9 to 12 By James Davey LONDON, Sept 10 (Reuters) - UK grocery inflation edged lower in the four weeks to Sept.
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UK grocery inflation returns to downward trend, says Kantar

UK grocery inflation returns to downward trend, says Kantar LONDON, Sept 10 (Reuters) - UK grocery inflation edged lower this month, data from market researcher Kantar showed on Tuesday, after rising for the first time in 18 months in last month's report. It said annual grocery price inflation was 1.7% in the four weeks to Sept 1, versus 1.8% in the previous four-week period .
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Aldi UK says shoppers trading up as inflation eases

UPDATE 1-Aldi UK says shoppers trading up as inflation eases Adds CEO comments in paragraphs 4-7 By Paul Sandle LONDON, Sept 9 (Reuters) - Supermarket group Aldi UK said its prices this summer were on average lower than a year ago, easing some of the pressures on its British shoppers who were treating themselves to more of its premium ranges. The country's fourth largest supermarket group reported on Monday a 16% rise in sales in Britain and Ireland to 17.9 billion pounds ($23.5 billion) in 2023
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UK retailer John Lewis to bring back 100-year old price pledge

UK retailer John Lewis to bring back 100-year old price pledge By Sarah Young LONDON, Sept 5 (Reuters) - British department store John Lewis is reintroducing its 100-year old "Never Knowingly Undersold" promise for customers on Monday, two years after it dropped it, hoping a revamped version of the price guarantee will help drive growth. The employee-owned retailer, which also operates Waitrose supermarkets, returned to annual profit in March after three difficult years, and the new head of its
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From apartheid to Gaza, consumer boycotts have hit major companies over the years

REFILE-FACTBOX-From apartheid to Gaza, consumer boycotts have hit major companies over the years Corrects to remove extraneous letter in paragraph 1, changes story identification tag LONDON, Sept 4 (Reuters) - Global companies including Anheuser-Busch InBev ABI.BR , Coca-Cola KO.N and Target TGT.N have suffered hits to sales and, in some cases, reputations, after shoppers boycotted their products or services over the years.
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Accelleron, BHP, Kingfisher

EUROPE RESEARCH ROUNDUP-Accelleron, BHP, Kingfisher Aug 28 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Accelleron, BHP and Kingfisher, on Wednesday. HIGHLIGHTS * Accelleron ACLN.S : Deutsche Bank raises target price to CHF 42 from CHF 34 * BHP Group BHPB.L : JP Morgan cuts target price to 2,580p from 2,650p * Kingfisher KGF.L : Citigroup cuts to neutral from buy * Vonovia SE VNAn.DE : Citigroup raises target price to EUR 52.80 f
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Thousands of workers at UK retailer Next win equal pay case

Thousands of workers at UK retailer Next win equal pay case LONDON, Aug 27 (Reuters) - More than 3,500 current and former shop workers at British retailer Next NXT.L have won a six-year legal fight for equal pay, lawyers representing the claimants said on Tuesday. An Employment Tribunal ruled that Next had failed to show that paying its sales consultants, who are overwhelmingly women, lower pay rates than its warehouse workers was not sex discrimination, said Leigh Day, the law firm representing
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