Moody’s thinks Tesco, Sainsbury’s, Asda and Morrisons’ profit margins will continue shrinking October 17, 2014 Profit margins at the so-called “big four” supermarkets will shrink even further than they have already as they fight a losing battle against discounters, according to rating agency Moody's. "Further price cuts could be particularly credit negative for Tesco and Morrison as their cost-cutting and efficiency measures are unlikely to fully offset the negative impact [...]
Tesco, Sainsbury’s and Asda cut petrol prices in latest battle in supermarket price wars September 29, 2014 Supermarkets clearly love the smell of diesel in the morning. Forget Brand Match promotions, in the latest battle between supermarkets in the long-waged war over low prices, the front of the petrol pumps re-opened. From tomorrow, Tesco and Sainsbury’s will slash fuel prices by up to five pence per litre while Asda will cut up [...]
Asda sales ahead despite profit warning from owner Wal-mart August 14, 2014 ASDA is outperforming its leading supermarket rivals in the battle for customers’ loyalty after reporting a 0.5 per cent increase in like-for-like sales in the second quarter. The US-owned chain was the first of the big four to take action against the discounters by cutting its prices when it pledged in November to invest £1bn [...]
Asda steals market share as like-for-likes edge up August 14, 2014 Like-for-like sales at Asda edged up 0.5 per cent for the 10 weeks to June 30, with the supermarket building market share by 0.14 per cent year-on-year. The Walmart-owned grocer – which is currently going through a major restructure involving 1,360 job cuts – said growth demonstrated it was “continuing to deliver on its [...]
Ex-Asda bosses Archie Norman and Allan Leighton linked to Morrisons chairman role July 27, 2014 Former Asda bosses Archie Norman and Allan Leighton are said to be in the running to become the new chairman of troubled supermarket chain Morrisons. Norman and Leighton were credited with reversing Asda’s fortunes in the 1990s and are both seen as plausible candidates to help revive the chain, which has been losing market share [...]
Asda to cut 1,360 jobs in management restructure July 3, 2014 Asda has announced that it will be making 1,360 employees redundant over the next three months. The supermarket chain, which is owned by US-based Walmart, had previously said that there would be job losses but did not confirm the number until now. The cuts are being made to help create more flexible management structures across [...]
How BHS’ food offerings could unseat Asda and Morrisons March 24, 2014 Sir Philip Green has come knocking at the major supermarkets’ door with plans to launch the first trial food outlet within a BHS department store this week. The retail tycoon, who is eyeing around 150 openings, aims “to be competitive” within the convenience food sector and undercut the big four by around 10 per cent [...]
Asda and Tesco kick off latest fuel price war March 10, 2014 SUPERMARKET chain Tesco kicked off another fuel price war yesterday, swiftly followed by Asda, following a decline in the wholesale cost of petrol and diesel despite escalating political unrest in Ukraine. Tesco cut the price of its petrol and diesel by one pence per litre (ppl) from yesterday afternoon. Asda is lowering its diesel by [...]
Asda hires new finance chief as Richard Mayfield joins Walmart November 26, 2013 ASDA has appointed a new chief financial officer after announcing yesterday that Richard Mayfield is to leave the retailer after just a year in the role to join parent company Walmart. The grocery chain said Alex Russo will join the group in January from Peruvian restaurant franchise specialist Delosi, which works with brands including Starbucks, [...]
Asda still set to expand even as revenues slow August 15, 2013 ASDA, Britain’s second largest supermarket, said yesterday that it would continue to carry out an “aggressive” growth strategy building more stores, as it reported a slowdown in second quarter like-for-like sales. Grocers like Tesco have called an end to an era of rapid growth known as the “space race”, turning their attention instead to online, [...]