No comment from Tesco on takeover talk as it promises customers a good Christmas October 6, 2021 Tesco has denied its share buyback programme has anything to do with private equity takeover rumours. Following US private equity firm Clayton, Dubilier & Rice winning Morrisons at auction with a bid of £7bn, Tesco and Sainsbury’s have been singled out as next in line for a takeover. Tesco said it would purchase £500m of [...]
Shoppers are already panic buying frozen turkeys as Christmas shortage looms October 6, 2021 As a shortage of turkeys is looming this Christmas, shoppers are already buying frozen turkeys in a bid to avoid any potential disruption to their Christmas dinner, the boss of Tesco has said. The supermarket giant said it was confident of good product availability for Christmas but there could still be “bumps in the road” [...]
Supermarket sweep: Sainsbury’s and Tesco singled out as next takeover targets October 4, 2021 Sainsbury’s and Tesco have been singled out as the next targets for buyout firms after the Morrisons deal. US investment company Fortress – which was beaten to the Morrisons takeover by private equity Clayton, Dubilier & Rice (CD&R) at auction – has indicated it is interested in other UK acquisitions. Joshua Pack, financier at Fortress, [...]
Supermarkets bleed sales thanks to food shortages October 3, 2021 The country’s largest supermarkets have lost out on more than £2bn sales this year so far thanks to food shortages. Leading retailers – Tesco, Sainsbury’s, Asda and Morrisons – lost out on sales during the first nine months of the year, according to data shared with trade magazine The Grocer. The sector has been hit [...]
Tesco gears up to announce interim results amid sector’s driver chaos October 3, 2021 Supermarket behemoth Tesco is expected to reveal a big share buyback programme this week, alongside setting out plans to overcome supply chain disruption. Tesco’s buyback scheme will run in parallel to its normal dividend, The Sunday Times reported, with no expected plans for a special dividend. The grocer will post its interim results on Wednesday, [...]
Ex-Tesco boss Dave Lewis behind £16bn link to import clean energy from Morocco September 26, 2021 A £16bn project to build the world’s longest power link will supply seven million UK homes with ‘near constant, low-cost clean energy’ according to its new chair, former Tesco boss Sir Dave Lewis. The renewable energy plan by Xlinks will take power from 10.6 gigawatts of large-scale solar and wind farms in Morocco via a [...]
Ministers urge Brits not to panic buy food and fuel as shortages spread September 24, 2021 Government ministers urged Brits not to panic buy fuel and goods as the shortage of lorry drivers is increasingly hitting supplies across the UK. Yesterday, BP said a number of its filling stations are closed due to a lack of fuel available, while Esso owner ExxonMobil also said some of its Tesco Alliance petrol forecourts [...]
Tesco warns of panic buying as ’empty shelves will get ten times worse’ September 23, 2021 A shortfall of 800 drivers has prompted Tesco to warn about panic buying in the run up to Christmas if the nationwide HGV crisis is not addressed. The UK’s largest supermarket also called on the Government to temporarily make it easier to bring in workers from abroad to ease the issue. Andrew Woolfenden, Tesco’s UK [...]
Tesco launches zero-waste trials in stores September 13, 2021 Tesco has launched zero-waste shopping trials at ten stores where customers can buy goods in reusable packaging so they can be returned and used again, in partnership with Loop, a waste management company. Customers shopping in the ten Tesco stores, all in the east of England where the initiative is being tested, will be able to [...]
Morrisons push ahead with plans to open automated grocery store as ‘pingdemic’ continues to hit supermarkets July 19, 2021 Morrisons are said to be close to unveiling an unmanned pilot store to the public “within months”, as they look to follow Amazon’s lead in modernising the approach to grocery shopping. The store will rely on shoppers to scan their smartphones upon entry before having digital cameras follow their every step in store to check [...]