Latest Posts

Tesco – post presentation thoughts.

“To lose one parent may be regarded as a misfortune; to lose both looks like carelessness.” To lose one member of the executive board may be a misfortune to lose three – CEO, CFO and Chairman is more than carelessness.  Add on eight senior managers suspended thanks to an accounting “overstatement” and ineptitude is a […]

Tesco and costs

There is a lot to digest in Tesco 1H results.  But to me the key is the fact that revenue is falling faster than costs.  1H 2014 revenue of £30.473bn down 4.5% from £31.914bn but costs are barely cut at all from £29.5bn to £29.2bn (down 1%).   Tesco needs to take an axe to costs now.  It desperately needs to restore profitability […]

More on Tesco pre results…

Sainsbury’s has got back to me. In 1994 it had 363 stores. By 2014 this had grown to 1262. Admittedly out of that 668 are convenience stores. But even so the number of supermarkets has increased 64% over the 20yrs.. I would love to calculate the square footage increase of food retail over the 20yr […]

Some pre results Tesco thoughts..

The big food supermarkets have had it easy throughout most of their lifetime, but things are now getting tough.  The next decade could see at least one going bust.  A big shake up is coming. I like to look at long term trends.  Kantar World Panel sent me market share data for the food retailers going back to 1994.  And […]

Be wary of dipping a toe in foreign waters..

My Times column today:      

Jimmy Choo..

There are not many London Stock Exchange corporate filings that include the words “playfully daring spirit” and “empowered sense of glamour”. But then Jimmy Choo is not your ordinary floatation.  Made famous by Sarah Jessica Parker in Sex in the City, Jimmy Choos have reached iconic status.  But both the original founders – Tamara Mellon […]

Market Mayhem

For those of you that don’t follow me on @Louiseaileen70, here are a few numbers on the market mayhem: Safe assets in demand: 10yr German bunds fall to record intraday low of 0.716% 10 year UST yield fallen 58bp to 2.06% in one month Gold has gone from $1190 at beginning of October to $1240 […]

Speech to Shedmasters.. aka my latest thoughts on the economy.

I was asked to give a speech to “Shedmasters” about the state of the global economy and effects on the logistics industry..  It is as below and summarises my latest thoughts. “I am delighted to be asked here, although slightly miffed I only get an invite when its in London.  Just so you know Graham, […]

The bears are growling…

The bears are growling. Overnight the Nikkei closed down 2.4%.  The U.S. S&P 500 fell 1.7% –  its worst three-day slide since November 2011.  And its Europe that is dragging global markets lower. The DAX, CAC and FTSE100 have fallen more than 10% in the last month and the DAX is leading the way, looking terribly bearish on a chart. Times […]

MSFT CEO on women’s pay: wait for Karma..

The CEO of Microsoft showed his true colours yesterday at the Grace Hopper Celebration of Women in Computing.  To a mainly female audience he suggested that women shouldn’t ask for a pay rise and to trust the system to reward them.  What a load of bollocks.  Women have been waiting for the system to reward them since […]