Content about Economy of the United Kingdom

July 21, 2014

British retailing giant Tesco Plc on Monday said CEO Philip Clarke would step down in October, to be replaced by 27-year Unilever executive Dave Lewis, with the change effective Oct. 1.

New York -- British retailing giant Tesco Plc on Monday said CEO Philip Clarke would step down in October, to be replaced by 27-year Unilever executive Dave Lewis, with the change effective Oct. 1. Clarke, who has been with Tesco for 40 years, will remain with the retailer until January 2015.

July 3, 2014

Safeway Inc. is reportedly seeking bids for purchase of its shopping center development business.

Pleasanton, Calif. – Safeway Inc. is reportedly seeking bids for purchase of its shopping center development business. According to the Financial Times, the business is expected to be worth around $1 billion.

The business centers on the purchase and development of sites for shopping centers in which Safeway servers as the anchor tenant. Safeway has been disposing of multiple assets in the wake of its merger agreement with Albertson’s, which is expected to close later in 2014. Safeway has previously said it wants to sell its Mexican operation.

May 16, 2014

British grocery giant Tesco is seeking to improve the customer checkout experience by piloting a new, high-speed retail checkout solution from NCR Corp. at its Tesco Extra 24-hour store in Lincoln, U.K.

London -- British grocery giant Tesco is seeking to improve the customer checkout experience by piloting a new, high-speed retail checkout solution from NCR Corp. at its Tesco Extra 24-hour store in Lincoln, U.K. The solution uses innovative imaging technology from Datalogic that automatically finds the barcode on any side of the product without the need to orient the item on the conveyor belt. It is capable of scanning up to 60 items per minute, greatly speeding the transaction.

April 16, 2014

Philip Clarke, CEO of leading U.K. grocery and general merchandise retailer Tesco plc is publicly resisting calls for his resignation following a 6% decline in annual profits and 3% quarterly drop in U.K. same-store sales.

Cheshunt, U.K. – Philip Clarke, CEO of leading U.K. grocery and general merchandise retailer Tesco plc is publicly resisting calls for his resignation following a 6% decline in annual profits and 3% quarterly drop in U.K. same-store sales. Tesco has reported falling profits for two consecutive years following 20 years of continual profit growth.

April 15, 2014

Tesco Plc plans to bring its value-priced F&F clothing format to the United States, opening seven stores on the East Coast this year with its U.S. franchise partner, Retail Group of America.

New York -- Tesco Plc plans to bring its value-priced F&F clothing format to the United States, opening seven stores on the East Coast this year with its U.S. franchise partner, Retail Group of America. The move comes some six months after Tesco sold off its struggling American supermarket operation, Fresh & Easy, to Ron Burkle's Yucaipa investment company.

April 14, 2014

Tesco U.K. buyers and category managers are using KSS Retail PriceStrat’s science and analytical tools to help plan and understand the impact of potential offers.

Cheshunt, U.K. -- Tesco U.K. buyers and category managers are using KSS Retail PriceStrat’s science and analytical tools to help plan and understand the impact of potential offers. Facing increased competition and consumer price sensitivity due to a slow economic recovery, Tesco has made price and promotion key areas of focus.

February 20, 2014

Safeway Inc. is exploring a sale of the company as it reports substantial increases in net income due to its exit from the Canadian market, and smaller increases in net sales for the fourth quarter and fiscal year 2014.

Pleasanton, Calif. – Safeway Inc. is exploring a sale of the company as it reports substantial increases in net income due to its exit from the Canadian market, and smaller increases in net sales for the fourth quarter and fiscal year 2014. Although the discussions for a sale are ongoing, the company said it has not reached an agreement on a transaction, and there can be no assurance that these discussions will lead to an agreement or a completed transaction.  

February 5, 2014

Trendy British retailer Topshop/Topman plans to open a 40,000-sq-ft. flagship store on Fifth Avenue in New York.

London – Trendy British retailer Topshop/Topman plans to open a 40,000-sq-ft. flagship store on Fifth Avenue in New York. The new Manhattan store will be located on the corner of 49th Street, and is adjacent to Rockefeller Center.

January 15, 2014

Verizon is migrating Tesco to a single global network infrastructure, which will underpin Tesco’s ongoing application and infrastructure centralization program.

London -- Verizon is migrating Tesco to a single global network infrastructure, which will underpin Tesco’s ongoing application and infrastructure centralization program.

December 19, 2013

Saks Fifth Avenue, a subsidiary of Hudson’s Bay Company, announced the appointment of former Harrods executive Mark Briggs as chief marketing officer for Saks, effective March 2014.

New York -- Saks Fifth Avenue, a subsidiary of Hudson’s Bay Company, announced the appointment of former Harrods executive Mark Briggs as chief marketing officer for Saks, effective March 2014. He will report to new president Marigay McKee, another former Harrods executive.

Briggs was director of store image at Harrods for 20 years and was a close colleague of McKee.

November 12, 2013

Bettery announced that it has teamed up with Safeway to give consumers a convenient way to adopt reusable household batteries, not only reducing their environmental footprint but also saving them money.

Portland, Ore. -- Bettery announced that it has teamed up with Safeway to give consumers a convenient way to adopt reusable household batteries, not only reducing their environmental footprint but also saving them money.

Bettery Swap Stations – kiosks for purchasing and exchanging rechargeable batteries – are being installed this month at multiple Safeway locations, starting with stores in Portland, Seattle and surrounding communities.

October 24, 2013

Coupons.com Inc. has hired Mir Aamir, former president of loyalty and digital technologies at Safeway Inc., as the company’s COO and CFO.

Mountain View, Calif. – Coupons.com Inc. has hired Mir Aamir, former president of loyalty and digital technologies at Safeway Inc., as the company’s COO and CFO. Aamir brings more than 18 years of finance, strategy and operating experience, primarily in the retail CPG industries.

October 11, 2013

Safeway Inc. saw its net income plunge 58% from $157 million to $65.8 million during the third quarter of fiscal 2013, amid a software impairment charge, higher theft and lower property gains.

Pleasanton, Calif. – Safeway Inc. saw its net income plunge 58% from $157 million to $65.8 million during the third quarter of fiscal 2013, amid a software impairment charge, higher theft and lower property gains. Results, however, beat expectations however.

Sales grew 1.1% from $8.52 billion to $8.62 billion, driven by a 1.9% improvement in same-store sales.

October 3, 2013

Kantar Retail’s Market Insights team recently updated all forecasts on global retail — a highly collaborative process that gains particular momentum the first half of the year as retailers report full-year performance for the prior fiscal period. The updated reports rank retailers by Kantar’s 2013 sales estimates, and include growth projections for the next five years.

September 10, 2013

Grocery chain Fresh & Easy confirmed reports that its British parent Tesco LLC has sold the brand to private equity firm The Yucaipa Cos., following months of uncertainty about the 200+-unit chain’s future.

Los Angeles -- Grocery chain Fresh & Easy confirmed reports that its British parent Tesco LLC has sold the brand to private equity firm The Yucaipa Cos., following months of uncertainty about the 200+-unit chain’s future.

Fresh & Easy posted on its website Tuesday that more than 4,000 jobs would be saved under the purchase agreement but that some stores will be closing.  Specific stores have not been identified, and the terms of the agreement weren’t disclosed.

June 13, 2013

Canada’s second-biggest supermarket operator has acquired Safeway’s Canadian portfolio of stores in a $5.7 billion deal that pulls the Pleasanton, Calif., chain completely out of the country.

Toronto -- Canada’s second-biggest supermarket operator has acquired Safeway’s Canadian portfolio of stores in a $5.7 billion deal that pulls the Pleasanton, Calif., chain completely out of the country.

Sobeys, a unit of Empire Co. Lt., has acquired 213 grocery stores, 62 fuel stations, 10 liquor stores, 12 manufacturing facilities and four DCs, leaving Safeway with 1,400 stores in the U.S. after the deal.

May 28, 2013

British retailer Marks & Spencer takes a giant leap forward in its goal to becoming a multichannel leader with the opening of its new concept store in Amsterdam.

British retailer Marks & Spencer takes a giant leap forward in its goal to becoming a multichannel leader with the opening of its new concept store in Amsterdam.

May 10, 2013

British retailer Marks & Spencer takes a giant leap forward in its goal of becoming a multichannel leader with the opening of its innovative new concept store in Amsterdam.

New York -- British retailer Marks & Spencer takes a giant leap forward in its goal of becoming a multichannel leader with the opening of its innovative new concept store in Amsterdam. The centerpiece of the 5,000-sq.-ft. space — which marks M&S’ return to the Netherlands after a 10-year absence — is an “E-Boutique” dedicated to womenswear. The shop features what the retailer calls “the world’s first virtual rail,” a display that seamlessly integrates digital rails with physical rails of clothing samples.

April 25, 2013

Safeway Inc. said it earned $118.9 million, in the first quarter ended March 23, up from $72.9 million a year earlier, helped by tax benefits.

Pleasanton, Calif. -- Safeway Inc. on Thursday said it earned $118.9 million, in the first quarter ended March 23, up from $72.9 million a year earlier, helped by tax benefits. The company maintained its forecast for the year.

Net sales inched down to $9.99 billion, from $10 billion a year ago, as the company sold its Genuardi’s division. Same-store sales rose 1.5%.

 

April 17, 2013

Grocery chain Fresh & Easy’s British parent Tesco confirmed Wednesday that it will abandon its U.S. business, selling off the 199-store chain and taking a $3.5 billion write-down.

London -- Grocery chain Fresh & Easy’s British parent Tesco confirmed Wednesday that it will abandon its U.S. business, selling off the 199-store chain and taking a $3.5 billion write-down.

March 29, 2013

New York -- British grocery giant Tesco is moving closer to selling off its U.S. Fresh & Easy division, with Tesco CEO Philip Clarke traveling to the United States next week to try and strike a deal, according to a report in the British newspaper, The Telegraph.

Tesco has held discussions with Trader Joe’s and others about selling Fresh & Easy, but a break-up of the business is considered the most likely option, the report said. Other options include closing the business and selling off assets.

March 26, 2013

7-Eleven will rebrand convenience stores in Ohio’s Cuyahoga and Lorain counties as part of a 19-store lease from Allentown, Pa.-based Lehigh Gas Partners LP.

Dallas -- 7-Eleven will rebrand convenience stores in Ohio’s Cuyahoga and Lorain counties as part of a 19-store lease from Allentown, Pa.-based Lehigh Gas Partners LP.

The effective date of the leases will vary, but all leases are expected to be in place by March 31, 2013.

March 22, 2013

In another sign that British retail giant Tesco is reconsidering its U.S. Fresh & Easy division, the company sent an email sent to shoppers in which it acknowledged that the grocer doesn't know "if Tesco will continue to own the company," the Los Angeles Times reported.

New York -- In another sign that British retail giant Tesco is reconsidering its U.S. Fresh & Easy division, the company sent an email sent to shoppers in which it acknowledged that the grocer doesn't know "if Tesco will continue to own the company," the Los Angeles Times reported.
 
Fresh & Easy spokesman Brendan Wonnacott said that Tesco is still reviewing its American chain, and will make an update in April as part of the company's full-year results, the report said.

March 15, 2013

Safeway Inc. said that Bruce Everette, 61, is retiring as EVP retail operations after a 44-year career at Safeway.

Pleasanton, Calif. -- Safeway Inc. said that Bruce Everette, 61, is retiring as EVP retail operations after a 44-year career at Safeway. He will be replaced by Kelly Griffith, currently the president of merchandising.

“We are deeply grateful to Bruce for his significant and lasting contribution to our company's success," said chairman and CEO Steve Burd. "He is the consummate operating executive whose results and people-oriented approach to the business leave an unmistakable imprint on who we are as a company."

March 1, 2013

Marks & Spencer, one of the leading retailers in the United Kingdom, is set to unveil a new property lease policy under which all new M&S stores will have ‘green’ clauses as standard enabling landlords and tenants to better manage a building's environmental performance.

New York -- Marks & Spencer, one of the leading retailers in the United Kingdom, is set to unveil a new property lease policy under which all new M&S stores will have ‘green’ clauses as standard enabling landlords and tenants to better manage a building's environmental performance.