Tesco’s share price dips as supermarket selects MBK as preferred bidder for sale of South Korean unit Homeplus September 2, 2015 Tesco has identified private equity firm MBK Partners as the preferred bidder to buy its South Korean arm, Reuters is reporting. The troubled supermarket has been looking to offload Homeplus, which is valued at around $6bn (£3.9bn), as part of a wider attempt to bolster its bottom line. Two months ago it held a beauty parade [...]
Former Tesco chief executive Philip Clarke to be quizzed by Serious Fraud Office August 28, 2015 Former Tesco boss Philip Clarke is set to be grilled by the Serious Fraud Office (SFO) as part of an investigation into the supermarket chain’s multi-million pound accounting black hole. The UK prosecutors have also called in ex-commercial director Kevin Grace for questioning, according to people with knowledge of the matter cited by Bloomberg. Read [...]
Morrisons pulled up on Match & More price-match advert claims against competitors Tesco, Sainsbury’s, Asda, Aldi and Lidl August 26, 2015 Morrisons has been told it must be clearer about its promise to match the prices of competitors, including Aldi and Lidl. The supermarket's Match & More scheme, which is the only one of the big four to match the prices of the German discounters, has been pulled up by the advertising watchdog for not clearly [...]
Supermarket wars: Big Four in big trouble as Tesco, Asda and Morrisons register more declines August 25, 2015 Tesco is still struggling to shrug off competition from the discount supermarkets, as data released this morning reveals yet more declines. While consumer spend within the grocery sector rose 0.9 per cent for the 12 weeks to 16 August, at Tesco it dropped by the same proportion. The price of a comparable basket of [...]
UK property: Britain’s struggling pub trade is yielding opportunities for supermarkets and residential developers August 25, 2015 The Grotto Inn on the top of Monument Hill in Weybridge was a thriving pub before falling on hard times three years ago. It was forced to call last orders after succumbing to competition from nearby bars and pubs and has lain empty since – its windows boarded up and beer taps gathering dust. [...]
Supermarket wars: Aldi has changed the face of UK retailing in its first 25 years – but it must adapt as much as everyone else to continue August 24, 2015 As Aldi celebrates 25 years of trading in the UK the joy may be felt by the German-owned discount chain and the great British price-conscious shopping public for its impact on the cost of food. But the reaction from rival retailers, big and small, and pretty much everyone else in the supply chain who [...]
Competition heats up for Tesco’s Korea unit ahead of Monday deadline August 23, 2015 Competition for Tesco's South Korean unit Homeplus valued at about £4bn is heating up ahead of the deadline for final bids on Monday. Media reports suggest that private equity firms have formed three separate teams to bid for the supermarket's largest operation outside of the UK. Asia-based Affinity Equity Partners has allied with US private [...]
Tesco share price falls as supermarkets suffer for third day amid renewed concerns about discounters Aldi and Lidl August 20, 2015 When one supermarket sneezes, it seems the rest catch a cold. Shares in troubled supermarket Tesco fell to their lowest level since January this morning, two days after Asda reignited concerns over the threat from German discounters. Tesco shares dropped 1.77 per cent today, while Sainsbury's shed 0.77 per cent. Both are down about four percent since [...]
From Tesco’s sugary drinks to Alton Towers’ roller coaster incident: How Twitter can make you a better investor August 19, 2015 Social media has long been used as a resource to tap into sentiment. Twitter, a platform that could easily be dismissed thanks to the challenges inherent in sharing information in 140 characters, is in fact a hugely viable source of information and a vital insight into what people are saying about a brand, an event [...]
Tesco share price dips on Dunnhumby and Korea deal discount troubles August 12, 2015 More troubles could be coming down the checkout line for supermarket boss Dave Lewis. Tesco is in for a "big blow" if it fails to make the £2bn it has been expecting on the sale of its Dunnhumby data arm, a deal which has had several firms scrambling to make an offer. The deal may [...]