Clarke admits Tesco must fix image problem March 12, 2014 TESCO boss Philip Clarke admitted yesterday that the grocer and the retail industry had an “image problem” but said he was “determined to provoke a reappraisal” of Britain’s biggest supermarket. Speaking at the Retail Week Live conference, he played down a fall in its market share revealed by Kantar, arguing the industry was going through [...]
Philip Clarke: Retail’s got an image problem but Tesco will win March 12, 2014 Tesco boss Philip Clarke has been talking this morning at Retail Week Live about retail’s "image problem". The chief executive of the UK’s largest supermarket said it has to accept that bigger is no longer seen as better by the customer, and that means it has to embrace change, dealing with pain in the short [...]
Discount stores feast on Tesco’s market share March 12, 2014 TESCO’S market share has fallen to its lowest level in almost 10 years as the supermarket and its mid-market peers lose ground to hard discounters Aldi and Lidl. Britain’s biggest supermarket, which announced plans earlier this month to win back shoppers by cutting prices, saw its market share decline to 28.7 per cent in the [...]
Discount stores feast on Tesco’s market share March 11, 2014 TESCO’S market share has fallen to its lowest level in almost 10 years as the supermarket and its mid-market peers lose ground to hard discounters Aldi and Lidl. Britain’s biggest supermarket, which announced plans earlier this month to win back shoppers by cutting prices, saw its market share decline to 28.7 per cent in the [...]
Here’s why the UK’s food sector has a rocky road ahead March 11, 2014 With some dire Christmas sales, heavy discounting and a ramping up of online shopping, the UK food retail sector feels unloved. That’s according to Barclays, which points out that the UK’s sector is now trading at a clear price-to-earnings discount when compared with continental Europe. It hasn’t always been like this for UK companies. Expansion [...]
Asda and Tesco kick off latest fuel price war March 10, 2014 SUPERMARKET chain Tesco kicked off another fuel price war yesterday, swiftly followed by Asda, following a decline in the wholesale cost of petrol and diesel despite escalating political unrest in Ukraine. Tesco cut the price of its petrol and diesel by one pence per litre (ppl) from yesterday afternoon. Asda is lowering its diesel by [...]
Letters to the Editor – 11/03 – Tax reform, Best of Twitter March 10, 2014 Tax reform [Re: Stop acquisitive politicians forever with a max tax guarantee, Thursday] I wish I thought a max tax would work, but it would likely be far worse than useless, and open the way for a British alternative minimum tax. Recall the political grandstanding that accompanied the withdrawal of allowances from higher-earning income taxpayers, [...]
Bottom Line: Price wars can come and go but real estate is permanent March 10, 2014 FOUR pints of milk and a warehouse near Stockton-on-Tees, please. Morrisons’ latest special offers will be welcomed by shoppers and property buyers alike, though the latter have a bit longer to enjoy the spoils of the investment. Cutting the price of everyday groceries doesn’t look like a sustainable strategy on its own for Morrisons, with [...]
Best of the Brokers for 5 March 2014 March 4, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO Cantor Fitzgerald has cut the supermarket from “hold” to “sell” and slashed its target from 333p to 282p. The broker thinks rivals can easily beat Tesco’s recent price promises, meaning the firm erodes its margins in the UK to little benefit. Cantor [...]
Tesco slashed the price of milk. Here’s how dairy farmers have responded March 3, 2014 Dairy farmers have accused Tesco of sparking a price war with its supermarket rivals that will cause further damage to an already fragile dairy industry, after the retail giant slashed the price of milk. Britain’s biggest food retailer delivered a fresh broadside in the battle for customers’ loyalty after cutting the price of a four [...]