All eyes on Tesco as UK’s biggest supermarket to say profit down £2.8bn – but what do shareholders want next? April 7, 2023 Tesco is expected to reveal a dip in profits for the past year as the supermarket group grappled with rampant food and drink inflation. The UK’s largest retailer will update investors and analysts over its financial performance for the year to February in an update on Thursday April 13. A consensus of analysts has said [...]
Every little helps: Loyalty cards determining over half of Brits’ shopping choices amid cost of living crisis April 4, 2023 Some 54 per cent of Brits said that price discounts via loyalty cards were most likely to encourage them to buy a product as the cost of living crisis spurs shoppers to hunt for the best bargains. According to data by NIQ, a further 35 per cent of consumers said that a ‘special price discount’ [...]
Recession fears see Brits stock up on own-brand kitchen staples April 3, 2023 THE COST of living crisis is beginning to be felt in the pockets of ordinary punters – with more than one in three turning towards own brand products to keep the kitchen cupboard stocked. New research from KPMG suggests more than half of UK consumers have reduced ‘non-essential’ spending amid recession fears, with eating out top of [...]
Can online favourite Ocado make a comeback, or will its share price sink lower? March 28, 2023 Ocado’s share price fell nearly six per cent in afternoon trade as the “magic” of the online retailer’s venture with Marks and Spencer did little to buoy the confidence of investors In its start of year trading update Ocado revealed that retail revenue grew slightly by 3.4 per cent, although a 7.5 per cent decrease [...]
Milk, meat and fruit worst affected as supermarket groceries DOUBLED in cost over last year, Which? says March 22, 2023 The cost of some everyday groceries has more than doubled over the last year, consumer brand Which? has found. The company analysed inflation on more than 25,000 food and drink products at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose. Which? looked at the average price of the products in the three [...]
Food shortage: Tomatoes are back on the menu as supermarkets begin to lift customer limits on fruit and veg March 10, 2023 Supermarkets have started to drop customer limits on buying certain fresh fruit and vegetables as food shortage issues that led to widespread shortages begin to ease. Asda confirmed it had removed limits of three on cucumbers, lettuce, salad bags, broccoli, cauliflower and raspberries, leaving restrictions of three on just tomatoes and peppers. The supermarket said [...]
Tesco on hunt for a ‘heavyweight’ boardroom figure as it swoops to replace John Allan March 9, 2023 Tesco is understood to have approached a number of “heavyweight” boardroom figures, to scope out their interests in replacing outspoken chairman John Allan. According to reports in Sky News, the FTSE 100 supermarket is working with headhunters to find a replacement for the leader who is set to leave the grocer in 2024. Allan, has [...]
Tesco raises store workers pay by 7 per cent February 20, 2023 Tesco, Britain’s biggest retailer, will raise hourly pay for about 220,000 store workers by 7 per cent from April – another increase that will likely catch the attention of the Bank of England, which is worried about inflationary pressure in the economy. The supermarket group, one of the country’s largest private sector employers, said a [...]
Tesco ‘considering sale’ of Tesco Bank, according to reports February 20, 2023 Tesco is considering selling Tesco Bank, according to Sky News which has reported that the supermarket giant has started a review process for its banking arm. The review is at a very early stage, according to insiders, and may not lead to a formal sale process. A partial sale or joint venture may also be [...]
Tesco versus Lidl: Two of UK’s largest supermarkets go to court over use of yellow logo February 7, 2023 Supermarkets Tesco and Lidl have begun a High Court fight over the use of a yellow circle logo. German discount chain Lidl says a trademark, and copyright, has been infringed, while Tesco has made a counterclaim. Lidl uses a yellow circle in its main logo, and Tesco uses one to highlight offers available to members [...]