News Tag: market share
March 11, 2010
John Lewis Partnership, the renowned employee-owned department store, has revealed its staff will share a bonus pot of £151 million.
The announcement came after the 146-year-old group said annual pre-tax profits grew 9.7% to £306.6 million.
According to John Lewis chairman, Charlie Mayfield, the company's 70,000 staff - or partners, as John Lewis refers to them - will receive payouts equal ...
John Lewis staff share £151m bonus pot
by Kay Murchie
March 9, 2010
Telecoms company Vodafone has announced plans to cut a further 375 jobs as part of its £1 billion cost-cutting programme, undertaken last year by the company as a result of a sharp decline in revenues from its core UK market.
The company, which is the world’s largest mobile phone operator, said the job losses would mainly affect back office positions in ...
Vodafone to axe further 375 jobs
by Kay Murchie
January 21, 2010
Supermarket giant Morrisons has beat its rivals by announcing strong Christmas trading results.
The Bradford-based retailer said like-for-like sales in the six weeks to January 3 rose by 6.5%.
Meanwhile, total sales grew 11.2% as the supermarket attracted a record number of customers and the strong festive performance resulted in Morrisons increasing its market share over the period, up to 12.3% from ...
Morrisons outperforms rivals with strong Christmas trading
by Kay Murchie
January 8, 2010
Sir Richard Branson’s Virgin Money has announced it is to buy regional bank Church House Trust for £12.3 million and will invest £37.3 million into the business.
Virgin Money, which was unsuccessful in acquiring crisis-torn Northern Rock two years ago, already offers savings, credit card and investment products to around 2.5 million customers.
The purchase comes at a time ...
Virgin Money buys regional bank Church House Trust
by Kay Murchie
November 19, 2009
Supermarket giant Morrisons has announced that a record number of customers visited its stores in the three months to November.
The UK's fourth-largest supermarket said 10.8 million customers visited its stores during the period and the group said its sales "continued to grow well ahead of the market".
The group announced that like-for-like sales, excluding fuel and VAT, were up ...
Morrisons sales up as customer numbers grow
by Kay Murchie
November 10, 2009
Telecoms company Vodafone is seeking to increase its £1 billion cost-cutting programme by a further £1 billion by 2012 as a result of a sharp decline in revenues from its core UK market.
The company, which is the world's largest mobile phone operator, is struggling amid the global economic downturn and has already announced hundreds of job losses ...
Vodafone hints at further job cuts amid cost-cutting programme
by Kay Murchie
October 26, 2009
Sir Richard Branson’s Virgin Money has applied to the Financial Services Authority (FSA) for a banking licence, which would enable the consumer credit arm of the Virgin Group to offer deposit accounts.
The move comes at a time when consumers have lost confidence in existing High Street banks following the financial crisis and Sir Richard wants to take advantage ...
Virgin Money continues its quest to become a bank
by Kay Murchie
October 15, 2009
The world's largest phone maker, Nokia, has today posted a loss for the July to September period sending its shares falling 4% as the market digested the news.
The group said it made a net loss of €913 million (£838 million) for the period, compared with a profit of €1.1 billion in the same period a year ago.
Net sales fell to €9.8 billion compared ...
Nokia reports Q3 loss
by Kay Murchie
October 12, 2009
Britain's largest mutually-owned retailer, the Co-operative Group, has today posted a 17% increase in profits for the six months to 25 July of £228.8 million.
The retailer, which is the UK’s fifth largest following its acquisition of Somerfield, said sales of its re-launched and extended 'Simply Value' range were up almost 80% on the year.
Excluding fuel and VAT, like-for-like food ...
Co-operative Group gains market share, profits up 17%
by Kay Murchie
October 9, 2009
Marks and Spencer (M&S;) is no longer Britain's most popular fashion retailer.
Shoppers seeking bargains amid the economic downturn means Asda’s George and discount clothing retailer Primark are the nation’s first and second favourite clothes shops.
The budget fashion chains are luring shoppers away from the more expensive retailers and this was highlighted last month after Primark ...
Recession see shoppers snub M&S as Primark and Asda grow in popularity
by Kay Murchie
October 6, 2009
Supermarket giant Tesco has today announced a 1.5% rise in pre-tax profits for the half year to the end of August and has bucked the trend by creating 6,500 jobs in the period.
Tesco, which has a 30% share of the grocery market, said pre-tax profits were £1.42 billion - up 1.5% compared with the same period last year.
Group sales were ...
Tesco posts strong results amid downturn
by Kay Murchie
June 16, 2009
Supermarket giant Tesco has posted a 4.3% rise in quarterly sales and said it has made a "solid" start to its financial year.
While the rise in sales was better than its 3.7% growth in the previous quarter, it was still lower than its major rivals.
Sales growth for the three month period to the end of May was behind that of fellow ...
Tesco remains strong during economic downturn
by Kay Murchie
June 4, 2009
Supermarket giant Morrisons, which is the UK’s fourth largest, has announced better-than-expected sales figures.
The group, which continues to gain market share from other supermarket giants such as Tesco and Sainsbury's, said the first quarter of the year saw like-for-like sales grow 7.3%, as a result of heavy discounting.
The group said it is attracting half a million new customers ...
Morrisons continues to gain market share from rivals
by Kay Murchie
May 3, 2009
The global economic downturn has resulted in a slump in demand for big-ticket items, such as cars and this is still the case for US carmakers after Chrysler reported a 48% decline in April sales compared with April 2008.
Sales at Ford were down nearly 32% while General Motors (GM) sales were down 34%.
The latter, along with Chrysler, have been instructed by ...
US car sales plummet in April
by Kay Murchie
April 21, 2009
Supermarket giant Tesco has announced a pre-tax profit of £3.13 billion - the highest ever full-year earnings reported by a UK retailer.
The UK‘s largest supermarket, with a 30% share of the market, said the current year had started "solid" with like-for-like sales (stripping out petrol) in the past six weeks rose by 3.4%.
The group added that plastic bag usage had ...
Tesco announces record £3bn annual profit
by Kay Murchie
April 19, 2009
The fall in advertising revenue has resulted in the first drop in quarterly sales for the first time since its incorporating as a public listed company.
The recession has had an impact on slower profits and sales, as users of the search engine are not clicking on ads as often. As a result, sales in the first quarter reached $4.07 ...
Google sales finally feel impact of economy
by Peter Charalambous
March 23, 2009
The world’s leading mobile phone maker has announced that it will lay off 1,700 people worldwide in order to cuts costs as the economic downturn has resulted in a reduced demand for the mobile phones.
The cut backs will be made across several sectors and departments as it will hot both the corporate development office and global support functions, although further ...
Nokia to cut back 1,700 jobs
by Peter Charalambous
November 10, 2008
The chief executive of Nationwide Building Society, Graham Beale, is predicting that house prices will continue to fall during 2008/09 and possibly into 2010.
Mr Beale is expecting a peak to trough decline of 25%, after which improved affordability ratios will encourage first-time buyers back into the market.
The comments came as the UK's largest building society reported that its net ...
Nationwide chief forecasts 25% fall in house prices
by Gill Montia