British retailers cheer Christmas sales, but City analysts warn of coming storm January 15, 2023 Britain’s largest retailers kicked off 2023 strongly last week, posting better than expected Christmas sales, signalling the consumer is holding up a bit better than feared. Tesco’s like for like sales were 7.9 per cent higher, while Marks and Spencer pocketed a 7.2 per cent rise. Sainsbury’s also posted record Christmas sales. Those bumper numbers, [...]
FTSE 100 close: ASOS and Centrica pop to crystalise strong start to 2023 January 12, 2023 London’s FTSE 100 built on gains yesterday that propelled to its highest level since 2018 after a series of British bellwether retailers posted a decent set of results this morning and the owner of British Gas skyrocketed. The capital’s premier index closed up 0.89 per cent at 7,794.04 points, while the domestically-focused, mid-cap FTSE 250 [...]
Tesco: Bumper Christmas sales will put shares in the spotlight this morning January 12, 2023 TESCO enjoyed a bumper Christmas period, it told markets this morning, with like-for-like sales up nearly 8 per cent despite bruising economic headwinds. The supermarket told markets this morning it had seen customers switching to Tesco across December. The boost meant revenues hit a cool £19.7bn in the UK and Ireland for the quarter to [...]
Cost of living fears don’t stop Brits spending record £12bn in supermarkets in run-up to Christmas January 4, 2023 BRITS brushed off cost of living and recession fears to spend a record £12bn in UK supermarkets in the run-up to Christmas.
Turkey prices cut by Tesco ahead of Christmas December 19, 2022 While Brits decide what their favourite cut of Turkey is, Tesco has cut its prices for fresh bird to ease cost of living pressures. The supermarket has launched its Christmas initiative for loyal customers, giving club card holders prices of £4 per kilo, down from £5/kg. Turkey crowns will also be down to £8.50 per [...]
Tesco on the hunt to replace outgoing chairman John Allan December 10, 2022 Tesco is reportedly looking replace outgoing chairman John Allan, who is set to step down in 2024. Sources told Sky News’ Mark Kleinman that external headhunters had been appointed to help with the recruitment process. Byron Grote – former BP finance boss and non-executive director of the supermarket chain – will lead the search internally. [...]
Supermarkets ‘implored’ to lower forecourt fuel prices after steady wholesale drop November 28, 2022 Motoring group the RAC has urged supermarkets for not lowering prices in forecourts despite wholesale fuel going down in price. The car-owners’ organisation appealed to the big four – Tesco, Sainsbury’s, Morrisons and Asda to make consumers’ lives easier amid the cost of living crisis. In new figures released, the RAC showed wholesale fuel prices [...]
Tesco invests further £14m into egg industry as avian flu sparks rationing November 26, 2022 Tesco is leading the charge in supporting egg suppliers, as British supermarkets begin rationing egg sales amid an outbreak of avian flu. Egg farmers in the UK have been wrestling with an outbreak of avian flu, on top of soaring inflation which has ramped up the price of feed and energy. Tesco has set aside [...]
Egg supply crisis: Tesco introduces buying limits as JD Wetherspoon changes menu November 22, 2022 Tesco is the latest chain to introduce limits on egg purchases owing to shortages and high costs. The supermarket told City AM it is introducing a limit of three boxes per customer to prevent shelves going empty. This comes after the British Egg Council warned the public that a the industry has been dealing with [...]
Egg-istential crisis: Shops ration staple as inflation, supply woes drive up price November 11, 2022 Supermarkets are rationing sales of eggs as problems with supply chains are leaving soaring prices and empty shelves. The staple food is experiencing a rise in price due to inflation and a shortage, owing in part to recent orders to house all poultry in doors due to a huge surge in avian flue. Steven Dresser, [...]