FTSE 100 close: London index squeezes out gain as UK economy unexpectedly flatlines in February April 13, 2023 London’s FTSE 100 nudged higher today after fresh figures showed the UK economy unexpectedly stalled in February, while Tesco clocked decent gains despite posting a big profit slump. The capital’s premier index edged 0.24 per cent higher to close at 7,843.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
Tesco hit by inflation and supermarket war with Aldi and Lidl as profit down almost seven per cent April 13, 2023 Tesco, Britain’s biggest supermarket, was hit hard by consumers tightening their belts during the cost of living crisis, as it reported its operating profit was down almost seven per cent on last year. The London-listed chain said its profit was £2,6bn for the year to the end of February which was down 6.9 per cent [...]
Supermarket price wars: Tesco slashes price of milk for first time in three years to rival Lidl and Aldi April 13, 2023 Tesco has slashed the price of milk for the first time in three years and locked the price of over 1,000 products, in the latest move by the UK’s biggest grocer to rival discounter supermarkets. As shoppers are forced to ‘shop around’ for the best-value options, Tesco has reduced the price of a pint of [...]
Tesco share price: Analysts watch grocer’s market share April 9, 2023 Tesco is expected to reveal a dip in profits for the past year as the supermarket group grappled with rampant food and drink inflation. The UK’s largest retailer will update investors and analysts over its financial performance for the year to February in an update on Thursday April 13. A consensus of analysts has said [...]
All eyes on Tesco as UK’s biggest supermarket to say profit down £2.8bn – but what do shareholders want next? April 7, 2023 Tesco is expected to reveal a dip in profits for the past year as the supermarket group grappled with rampant food and drink inflation. The UK’s largest retailer will update investors and analysts over its financial performance for the year to February in an update on Thursday April 13. A consensus of analysts has said [...]
RAC: Tesco, Asda, Sainsbury’s and Morrisons are ripping off motorists – but which Big 4 retailer has the cheapest petrol? April 5, 2023 Motoring group RAC today accused Britain’s big four supermarkets of overcharging drivers at the petrol pumps.
Another bite out of London: Franco Manca set to go private in bumper deal April 5, 2023 The owner of Franco Manca has been snapped up by a Japanese food franchise company in a £93m deal – the latest in a long line of London-listed firms to be taken private by foreign firms. Fulham Shore, which also owns The Real Greek franchise, announced that it was offloading the business to Toridoll, a [...]
Hilton Foods welcomes ex Co-op chief to replace boss of 30 years as profits nosedive April 5, 2023 Meat packer Hilton Foods has blamed “significant” challenges in its seafood wing for nosediving profits, as it welcomes a former Co-op boss to head up the business. The FTSE 250 firm’s share price was down 1.25 per cent this morning, as it witnessed a steep decline in profits down to £29.6m from £47.4m the previous [...]
Every little helps: Loyalty cards determining over half of Brits’ shopping choices amid cost of living crisis April 4, 2023 Some 54 per cent of Brits said that price discounts via loyalty cards were most likely to encourage them to buy a product as the cost of living crisis spurs shoppers to hunt for the best bargains. According to data by NIQ, a further 35 per cent of consumers said that a ‘special price discount’ [...]
How Aldi boss intends to see off supermarket rivals and bring discount store within reach of all UK shoppers April 3, 2023 Aldi will not stop the “relentless” roll out of its value supermarkets across the UK, despite attempts by rival supermarkets to scupper its growth, its chief executive has said. Giles Hurley, the head of UK and Ireland operations for the German discounter, told The Telegraph that they are going to bring stores within easy reach [...]