Could Archie Norman be Tesco’s new chairman? These are the runners and riders for the supermarket’s top job February 14, 2015 Archie norman is the latest City boss to be touted as Tesco’s new top boss and a successor to Sir Richard Broadbent who left last year in the wake of a profit scandal. The current chairman of ITV and former boss of rival supermarket Asda where he gained the tag of being the turnaround king, [...]
German discounters Aldi and Lidl take 10 per cent slice of UK grocery sector February 13, 2015 Discounters Aldi and Lidl now account for more than 10 per cent of the UK's grocery sales, taking £1 in every £9.31 spent at supermarkets in the last three months. The German retailers' combined market share stood at 10.7 per cent for the 12 weeks to January 31, up from 9.3 per cent last [...]
Tesco is winning at Valentine’s Day. Here’s why February 11, 2015 Valentine's Day is just around the corner and what says love more than multinational retailers pushing their pink heart-shaped products you neither want nor need? Absolutely nothing. That's why between now and Saturday we will all be bombarded with adverts for all the chocolates you can eat (before the cocoa runs out) recipes for two, [...]
It’s high time supermarkets had a radical lesson in supply chain management February 10, 2015 Every year, the supermarkets hire substantial batches of high-flying graduates to work in their buying departments. The urban mythology is that these expensively-educated young people are paid to shout down the phone, browbeating suppliers to offer yet more discounts. This hectoring seems to be at the heart of the recent decision of the Groceries Code [...]
Morrisons, Tesco, Ocado and Marks & Spencer’s share prices soar after UK food sector shows signs of growth February 10, 2015 Supermarkets led the FTSE 100 higher this afternoon, after figures revealed the grocery sector was in growth once again. Morrisons' share price had recorded the biggest gains at pixel time, rising 5.5 per cent. This was on the back of Kantar figures out this morning, showing its sales had fallen 0.4 per cent, the [...]
Tesco’s share price jumps as Kantar figures reveal the supermarket has grown sales for first time in a year – but it is still losing market share February 10, 2015 Tesco's share price jumped nearly two per cent this morning after figures revealed it had grown for the first time since January 2014. The UK's biggest retailer recorded sales growth of 0.3 per cent to £7.9bn for the 12 weeks to February 1, according to Kantar Worldpanel. But that was not enough to stem the [...]
Tesco tells suppliers to cut prices as commodities slump February 8, 2015 Tesco has delivered a stern message to its suppliers: cut prices or your products could be taken off the shelves. The scandal-hit supermarket is still rebuilding its reputation following the revelation of ia £263m profit blackhole last year, yet an ongoing price war with discounters such as Aldi and Lidl has kept its [...]
Tesco GCA probe: More supermarkets could be investigated, says watchdog February 6, 2015 More supermarkets could be investigated by the Groceries Code Adjudicator (GCA), a watchdog for UK businesses has warned. Yesterday, the GCA launched an examination of Tesco's relationships with its suppliers, saying it had acquired enough evidence to suggest bullying and delays in payments had taken place. Christine Tacon, adjudicator for the GCA, [...]
Tesco faces investigation by yet another regulator over payment to suppliers February 5, 2015 Tesco has fallen under the scrutiny of yet another regulator, as a huge black hole in profits continues to raise questions about the supermarket's practices. In September last year, Tesco revealed that it overstated its group profits for the six months to 23 August by an estimated £250m, which was soon revised up to £263m. [...]
Tesco global CIO Mike McNamara leaves for US retailer Target as supermarket begins hunt for chief technology officer February 3, 2015 Tesco’s top tech boss who was instrumental in the roll out of the supermarket's online and e-commerce business is exiting the company after 15 years for US retailer Target. Mike McNamara, who also sits on Tesco’s executive committee, has led the supermarket's global technology systems as chief information officer (CIO) since 2011. It's the latest in [...]