Tesco shareholders eye returns as ‘awful April’ bill hikes set to hit profit June 8, 2025 Tesco shareholders will be watching closely for signs that it is managing to fend off competition as the supermarket price war heats up and “awful April” bill hikes eat into household income. The UK’s biggest supermarket chain will unveil its financial results for the first three months of its financial year on Thursday. Tesco recently [...]
Costco: Lower petrol prices help drive profit surge June 4, 2025 The UK arm of Costco has said lower petrol prices have actually helped its profit jump to almost £200m after driving up memberships. The division of the US giant said a decrease in prices at the pumps during its latest financial year contributed to increasing the number of people signing up and renewing their membership [...]
Is Asda’s ambitious turnaround starting to bear fruit? May 29, 2025 Asda has had a tumultuous year and a half. Since January 2024, the supermarket giant has undergone numerous leadership changes, IT issues, and sales woes. Its troubles began back in 2021, when it was bought in a debt-fuelled takeover by the billionaire Issa brothers – who have since departed the board – and private equity firm [...]
Asda ‘making good progress’ despite sales continuing to fall May 29, 2025 The chairman of Asda has said the supermarket giant is “making good progress” despite its sales continuing to fall. The Leeds-headquartered chain has reported a revenue – excluding fuel – of £5bn for the three months to 31 March, 2025, the first quarter of its financial year. The total is a 5.9 per cent decrease [...]
Tesco: CEO takes home bumper pay packet after profit jump May 8, 2025 The CEO of Tesco took home more than £9m as sales and profit at the supermarket giant beat expectations. Ken Murphy received a pay packet of £9.23m for the company’s latest financial year, down from the £10.24m he took home in the prior 12 months. According to Tesco’s annual report, the CEO’s remuneration was made [...]
Lidl eyes Mayfair and Chelsea stores amid £500m expansion April 28, 2025 You could soon shop at a Lidl store in the swanky London districts of Mayfair and Chelsea as the low-cost supermarket plans dozens more store openings as part of a £500m expansion plan. The German-owned business, which controls 7.8 per cent of the UK grocery market according to latest Kantar figures, has published a list [...]
Co-op profit jumps six-fold ahead of supermarket ‘trolley wars’ April 3, 2025 The Co-op has reported a huge jump in profit for 2024 ahead of potential ‘trolley wars’ in the grocery sector. Group revenue was broadly stable year on year, ticking up by 0.2 per cent to £11.3bn, while underlying profit rose by 35 per cent to £131m. Operating profit more than doubled, from £66m to £151m, [...]
Morrisons to cut hundreds of jobs and close cafes in huge shake-up March 24, 2025 Supermarket giant Morrisons has put 365 jobs at risk after it revealed plans to close more than 50 of its cafes. The Yorkshire-headquartered chain said 52 of its cafes, 17 convenience stores and dozens of meat and fish counters at its shops are slated for closure. Morrisons said the closures are part of a “wide-ranging” [...]
The Co-op admits blocking rivals from opening competing stores March 5, 2025 The Co-op has become the latest major UK supermarket to fall foul of a targeted campaign by the Competition and Markets Authority (CMA) to stop the use of ‘unlawful land agreements’ in grocery retailing. The group has admitted to 107 breaches of an order to stop supermarkets imposing restrictions that block rivals from opening competing [...]
Supermarket sales rise, but Asda continues to struggle March 4, 2025 Sales at UK supermarkets rose above inflation in February as Brits looked for cost-effective ways to treat themselves. Take-home sales at the grocers rose by 3.6 per cent over the four weeks to 23 February, while prices rose 3.3 per cent, according to Kantar. However, the headline figure masked a gulf between the performance of [...]