Tesco: CEO takes home bumper pay packet after profit jump May 8, 2025 The CEO of Tesco took home more than £9m as sales and profit at the supermarket giant beat expectations. Ken Murphy received a pay packet of £9.23m for the company’s latest financial year, down from the £10.24m he took home in the prior 12 months. According to Tesco’s annual report, the CEO’s remuneration was made [...]
Lidl eyes Mayfair and Chelsea stores amid £500m expansion April 28, 2025 You could soon shop at a Lidl store in the swanky London districts of Mayfair and Chelsea as the low-cost supermarket plans dozens more store openings as part of a £500m expansion plan. The German-owned business, which controls 7.8 per cent of the UK grocery market according to latest Kantar figures, has published a list [...]
Sainsbury’s warns on growth as trolley wars heat up April 17, 2025 Sainsbury’s has said it expects no profit growth in the next year as competition in the grocery market intensifies. The supermarket giant reported retail underlying operating profit of £1.036bn in the 52 weeks ended March 1, up 7.2 per cent from £966m last year. It said double-digit growth at its Sainsbury’s retail arm was partially [...]
Tesco, M&S and Sainsbury’s shares drop amid wider FTSE 100 rally April 10, 2025 The UK’s major listed supermarkets missed out on a post-crisis FTSE 100 bump this morning after Tesco’s full-year results stoked fears of ‘trolley wars’ in the sector. The FTSE 100 index rose by more than six per cent as investors breathed a sigh of relief after Trump’s ‘reciprocal’ tariffs were paused last night. However, Tesco, [...]
Tesco: Supermarket giant’s profit beats City expectations but ‘trolley wars’ hit outlook April 10, 2025 Supermarket giant Tesco has beaten profit expectations as it continues to speed ahead in the competitive UK grocery market, but it warned that high competition will affect profit next year. Tesco shares slumped more than seven per cent in early deals. The UK’s biggest supermarket told markets this morning that group adjusted operating profit rose [...]
Tesco to reveal stronger sales amid price war fears April 6, 2025 Tesco shareholders will be hoping for reassurance over continued sales growth and robust profits next week amid the prospect of an intensifying grocery price war. Earlier this year, shares in the UK’s largest supermarket group struck their highest level for over a decade as it continued to strengthen its position in the grocery sector. In [...]
Co-op profit jumps six-fold ahead of supermarket ‘trolley wars’ April 3, 2025 The Co-op has reported a huge jump in profit for 2024 ahead of potential ‘trolley wars’ in the grocery sector. Group revenue was broadly stable year on year, ticking up by 0.2 per cent to £11.3bn, while underlying profit rose by 35 per cent to £131m. Operating profit more than doubled, from £66m to £151m, [...]
Morrisons to cut hundreds of jobs and close cafes in huge shake-up March 24, 2025 Supermarket giant Morrisons has put 365 jobs at risk after it revealed plans to close more than 50 of its cafes. The Yorkshire-headquartered chain said 52 of its cafes, 17 convenience stores and dozens of meat and fish counters at its shops are slated for closure. Morrisons said the closures are part of a “wide-ranging” [...]
Asda: ‘It’s going to take time to rebuild’ says new boss March 14, 2025 UK supermarket giant Asda has dominated headlines for the last year for a host of different reasons: turmoil at the top, declining market share and issues with a significant IT upgrade. The grocer’s market share fell 5.8 per cent between December 2023 and 2024, while the market share of all other major UK supermarkets grew. [...]
Asda: ‘We know what we need to do’ after sales disappoint again March 14, 2025 Sales and revenue at Asda dropped last year, as expected, but the supermarket said it has begun to deliver on its turnaround plan. Like-for-like sales at the supermarket giant fell by 3.4 per cent year on year, while revenue dipped 0.8 per cent to £21.7bn. The TDR-owned supermarket struggled last year with a declining market share [...]