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Katy Askew

Articles by Katy Askew

Tesco accelerates UK turnaround driveUK: Tesco to "accelerate" UK turnaround 25 February 2014

Tesco will "accelerate" efforts to turnaround its UK business while also capping capital expenditure, the company said today (25 February).

Wal-Mart sees one-off costs, slower US salesUS: Wal-Mart warns on FY profits 3 February 2014

Wal-Mart has said its full-year earnings could miss previously announced forecasts.

King will stand down at Sainsbury's annual general meeting on 9 JulyUK: Coupe takes helm as King exits Sainsbury's 29 January 2014

Sainsbury's chief executive Justin King will leave the UK supermarket group this summer, when current commercial director Mike Coupe will take the helm at the firm.

Will Tesco's investment focus pay off?What the analysts say: Tesco's weak performance leaves market divided 4 December 2013

The disappointing third-quarter top-line performance reported this morning (4 December) by Tesco has left analysts divided over the group's strategy. Tesco has cut capital expenditure on new stores and is instead investing in refurbishments and multichannel growth. Management has insisted the strategy will simply take time to deliver results. But, with the clock ticking, another set of weak numbers has raised questions over whether Tesco's investment focus will pay off. Here is the view from the City.

Wal-Mart is investing in multi-format strategy to grow US shareWal-Mart brings investment focus home 17 October 2013

Wal-Mart Stores outlined its strategy for the coming fiscal year at its annual investment community meeting yesterday (16 October). The world's largest retailer raised its capital expenditure forecast in the US while scaling back its international investment plans. Significantly, the company said it would close under performing store in Brazil and China and reduce store openings in Mexico and India - possibly reflecting concerns over the growth outlook in emerging markets. Katy Askew reports.

FRANCE: Carrefour sees growth in France, China 17 October 2013

Carrefour has booked sales growth in the troubled markets of France and China, pushing shares in the French retailer up in morning trade today (17 October).

US: Wal-Mart to focus on price as Q3 earnings rise 16 November 2012

US retailer Wal-Mart has said that it will continue to focus on delivering low prices to drive higher volumes in the remainder of the year, after booking third-quarter sales and earnings gains.

UK: Asda claims Q3 market share gains 16 November 2012

Supermarket retailer Asda says it has been able to win over market share as it reported slightly higher third-quarter sales.

Spotlight on...Wal-Mart hit by Mexican shock-waves 26 April 2012

Shares in Wal-Mart de Mexico y Centroamerica plummeted this week as allegations the company bribed officials to speed up store openings prompted many shareholders to offload the stock at a rate of knots. Meanwhile, concern that US regulators will pursue action against parent company Wal-Mart Stores for violations of the Foreign Corrupt Practices Act could have some far-reaching consequences for the world's largest retailer. Katy Askew reports.

Tesco FY and turnaround plan: what the analysts say 18 April 2012

Tesco today (18 April) said it would spend GBP1bn (US$1.55bn) in a bid to revitalise its domestic operations as it confirmed that full-year like-for-like sales and profits in the UK have dropped. Nevertheless, its strong international business enabled the UK's largest retailer to book a 1.6% increase in pre-tax profit. While the disappointing UK performance held no surprises, details of the turnaround plan have been broadly welcomed by the market.

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