Sainsbury’s stays strong in run-up to Christmas

first_imgSainsbury’s has come out on top during the Christmas period, being the only supermarket out of the big four to increase its market share.Kantar Worldpanel has revealed the latest grocery market share figures today (8 January) for the 12 weeks ending 23 December 2012, highlighting a flat growth level of 3.2% for the overall market.Tesco continued to dominate with a market share of 30.5%, but this dropped 0.1% on last year’s figure for the 12 weeks to 25 December 2011.Sainsbury’s was the only supermarket among the top four to increase its market share, rising 0.1% to 17.1%. Both Asda and Morrisons saw drops in market share for the 12-week period of 0.2% and 0.4% respectively.Edward Garner, director at Kantar Worldpanel, said: “Among the big four supermarkets Sainsbury’s is, once again, the only retailer to increase its share compared with last year. Tesco’s share has dipped slightly, however this is an improvement on the performance seen throughout 2012, when the average share drop was 0.4%, suggesting that festive shoppers gave the retailer a welcome boost in the run-up to Christmas.“The well-publicised under-performance of Morrisons continues, and it is the only one of the big four supermarket to lose sales compared with last year. This highlights its need to address the lack of convenience outlets and an online offering in 2013, as already clearly identified by the retailer.”He added that “two nations” continued to feature heavily in the grocery market, as 47% of shoppers reduced their spend in the lead-up to Christmas, but 48% increased it at 4.5% – the same rate of inflation for the period.Discounters continued to perform well in the 12 weeks, with Aldi experiencing a 0.6% rise to 3.2% and Lidl increasing its share by 0.2% to 2.8%.last_img read more

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Five Indian-Origin Billionaires Named in Forbes’ List of Richest Americans

first_imgFive Indian Americans figure in Forbes magazine’s recently-released list of the 400 richest Americans. The Indian-origin billionaires moved to the United States early in their careers and have made a mark in the country as successful businessmen.Of all the Indian Americans who made it to the list, four are part of the technology industry while one made his riches in the airline business.The list of Indian Americans is topped by Romesh T. Wadhwani, followed by Rakesh Gangwal, Vinod Khosla, Kavitark Ram Shriram, and Niraj Shah.Wadhwani, the founder of Symphony Technology Group is ranked 271, with a net worth of $3 billion. The 70-year-old businessman was born in Pakistan and moved with his family to India during Partition. He earned a B.Tech from the Indian Institute of Technology, Bombay, and earned his masters and Ph.D. from Carnegie Mellon University. In 1999, he sold his company Aspect Development Inc., to i2 technologies for $9.3 billion.Kolkata-born Rakesh Gangwal, 64, is at No. 354 with a net worth of $2.3 billion. The airline veteran is the co-founder of InterGlobe Aviation, which owns IndiGo Airlines, India’s largest low-cost private carrier.Gangwal earned his bachelor’s degree in mechanical engineering from the Indian Institute of Technology, Kanpur, and did an MBA from Wharton before landing a job with the United Airlines in 1984. He later went on to become the CEO and Chairman of the US Airways Group. He co-founded IndiGo in 2006, along with Rahul Bhatia, who is also in the Forbes India billionaires list.Until earlier this year, Gangwal was the richest Indian American in the United States, with $3.3 billion, but since March his wealth has dropped by $1 billion due to the falling share prices at Indigo.With a net worth of $2.2 billion, Vinod Khosla is the third richest Indian American in the list. The 63-year-old Delhi-born venture capitalist is ranked 368. Khosla, who co-founded Sun Microsystems in 1982, is an active and prolific venture capitalist and invests in new technologies like biomedicine and robotics through his Silicon Valley VC firm Khosla Ventures.Khosla earned his bachelor’s degree in electrical engineering from the Indian Institute of Technology, Delhi. He moved to the United States in the 1970s and graduated with a biomedical engineering from Carnegie Mellon University and an MBA from the Stanford Graduate School of Business.Next on the list is Kavitark Ram Shriram, who is at No. 368 with a net worth of $2.2 billion. The Chennai-born mathematics graduate is known for spotting companies in their start-up stages itself and is best known for being one of the earliest financial backers of Google. He started his career with Netscape in 1994 and later became the president of Junglee, which was later acquired by Amazon. With this acquisition, he worked for a brief while with Amazon founder Jeff Bezos. In 1998, when Google was a still a startup, Shriram invested $250,000 in the company.He is still on the board of Alphabet, the parent company of Google.Placed at No. 368, Massachusetts-raised and Cornell-educated Niraj Shah, the CEO of Wayfair, is the fifth richest Indian American, with $2.2 billion. Shah, 44, is also one of the youngest billionaires on the list. He co-founded online home goods retailer Wayfair in 2002, which went public in 2014. Since March, his wealth has increased by $600 million. Related ItemsforbesIndian Americanlast_img read more

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