Can Sainsbury’s flat earnings squash profiteering claims? November 2, 2023 Sainsbury's has been ramping up its loyalty Nectar card scheme so that shoppers can get discounts on their groceries during a period of high inflation.
Tesco UK chief steps down as Britain’s biggest supermarket brings in former Aldi top exec October 26, 2023 Tesco’s UK division will bring in a senior executive from challenger grocer Aldi, following the departure of its veteran chief. Britain’s biggest supermarket said Matthew Barnes will take over after Jason Tarry today announced his upcoming departure today, following 33 years with the company. Tarry, who has been at the top for six years, will [...]
Wine sellers bottle it as middle-class customers scale back amid cost of living crisis October 25, 2023 Virgin Wines' chief executive officer, Jay Wright, is "confident" in the group's longer-term prospects — despite a 10 per cent drop in share price.
Santa’s every little helpers: Tesco to recruit 30,000 festive staff October 13, 2023 Britain’s biggest supermarket, Tesco, is the latest retailer to launch a massive Christmas recruitment drive, as it looks for 30,000 staff. The grocery giant said it was appealing to cash-strapped Brits, ranging from students and families, hit hard by the cost-of-living crisis, to those who stepped away from work during the pandemic and want to [...]
Aldi and Morrisons to create thousands of jobs in run-up to Christmas October 6, 2023 Two supermarket giants Aldi and Morrisons have announced plans to recruit thousands of workers ahead of the busy festive season. Aldi is creating 3,000 permanent and temporary jobs, while Morrisons is looking for 3,500 extra staff to work in its stores, food manufacturing sites and logistics operations as both firms deal with expected increased demand [...]
Tesco pledges an ‘affordable Christmas’ as it raises profit guidance on slew of price cuts October 4, 2023 Tesco raised its profit guidance for the year ahead to up to £2.7bn, as the Big Four grocery thanked a slew of price cuts for surging revenues in its interim results. Britain’s biggest grocer’s adjusted operating profit reached £1.48bn during the term, a 13.5 per cent leap when compared to the same period the prior [...]
Food inflation lowest level since last August, as supermarket price wars pay off October 3, 2023 The rate at which food prices increase has fallen to 9.9 per cent in September, down from 11.5 per cent the prior month, and the lowest level since last August, in the latest signal that cost of living pressures customers face at the till are beginning to ease. Shop price annual inflation is now also [...]
Will thousands of price cuts be enough to help Tesco win big amid cost of living crisis? October 1, 2023 Investors will turn their focus to ‘Big Four’ grocer Tesco’s half year results on Wednesday to see if the company’s consistent slew of price cuts has continued to help it win big with customers amid the cost of living crisis. The supermarket behemoth has weathered the economic storm well, with its market share ticking up [...]
The Notebook: Victoria Scholar on the future of supermarkets September 26, 2023 Interactive Investor's Victoria Scholar on supermarkets, China's growth and a new podcast in the City A.M. notebook
Aldi throws £1.4bn into expansion as discount grocer enjoys record sales September 25, 2023 German discounter Aldi will invest £1.4bn over two years to support its expansion plans, as customers seeking out cheaper groceries continues to be a boon for the business. The value supermarket revealed today that its annual sales increased by a whopping £2bn to £15.5bn in the year to December, a record for the store in [...]