Tesco to cut 400 jobs as it moves to ‘more efficient’ working January 29, 2025 Tesco has announced plans to cut more than 400 jobs in a bid to improve efficiency at the grocer, following in the footsteps of Sainsbury’s, Asda and Morrisons. The supermarket giant said that the “more competitive than ever” market means it must “work hard… to offer our customers unrivalled value”. “This means always being open [...]
Ocado shares surge after online grocer reports record-breaking year January 14, 2025 Ocado Retail’s sales boomed in the weeks leading up to Christmas, vastly outperforming the broader market with double-digit revenue and customer growth. In a trading update issued today, the company, a 50:50 joint venture between Ocado and Marks and Spencer, reported revenue growth of 17.5 per cent in the 13 weeks to 1 December. Ocado [...]
Tesco Clubcard and Sainbury’s Nectar schemes do help consumers, regulator says November 27, 2024 A year-long probe into UK supermarkets’ pricing practices has found “very little” evidence that shoppers are being treated unfairly with loyalty programmes such as the Tesco Clubcard scheme and Sainsbury’s Nectar points. The Competition and Markets Authority (CMA) probe, which has been ongoing since November last year, investigated whether supermarket loyalty schemes cause inflation by faking the [...]
Struggles continue at Asda as new owner looks to turn around supermarket giant November 12, 2024 The continuing struggles at supermarket giant Asda have been revealed with both Tesco and Sainsbury’s hoovering up its market share in the UK, according to new figures. Sales at the Leeds-based grocer totalled £4.242bn in the 12 weeks to 3 November, 2024, down from the £4.490bn it reported for the same period last year, the [...]
Sainsbury’s: FTSE 100 retailer warns Reeves’ budget may push up food prices November 7, 2024 Chief executive of Sainsbury’s Simon Roberts has warned that Reeves’ decision to increase employer’s national insurance contributions (NICs) by 1.2 per cent to 15 per cent next April could lead to price inflation. Sainsbury’s has estimated the cost of the change at £140m, according to the Guardian. “This industry operates on very low margins, and there just [...]
Asda cuts jobs and demands three-days-a-week return to office November 6, 2024 Asda has announced job cuts and asked its staff to return to the office three days a week in the latest move in its turnaround plan. In an internal email on 5 November, the grocer said it was changing its office attendance policy at its George House site in Leicester as well as its Asda [...]
Marks and Spencer shares up on double-digit growth as turnaround pays off November 6, 2024 Marks and Spencer has reported another bumper set of results ahead of the golden quarter as its turnaround plan continues to pay off. The company’s share price rose by nearly five per cent in early trades and reached a level not seen since 2016. Profit before tax rose 17.2 per cent to £407.8m, up £348.1m [...]
Ocado announces new chair sooner than expected October 31, 2024 Ocado has announced KKR senior advisor Adam Warby will succeed Rick Haythornthwaite as its chairman in December. As well as working for KKR, Warby also serves as chair of management consultant firm Heidrick & Struggles, and previously held various positions at Microsoft and IBM. Earlier this year, Ocado said Haythornthwaite would step down to focus [...]
Convenience stores issued £634m warning ahead of Budget October 29, 2024 A lobby group has warned convenience stores could be set for a huge bill next year as tax hikes are expected to be included in the Autumn Budget. The Association of Convenience Stores has said the sector will face a potential bill of £634m due to wage increases, plus changes to National Insurance contributions and [...]
Asda flies in Morrisons and M&S execs as turnaround plan gathers pace October 22, 2024 Asda has added two new members to its leadership team as it looks to bolster the firm amid a significant turnaround plan. Laura Lepley will join in December from Morrisons as vice president of central operations, while Mark Henry will join in January from M&S as vice president of retail in the south of England. [...]