Has Tesco benefited from people trading down? April 10, 2024 Britain’s largest supermarket Tesco made a profit of £2.8bn - up £300m on the prior years figure - as the grocer said a slew of price cuts helped attract customers.
Tesco’s profit surges as lower prices draw in consumers April 10, 2024 Britain’s biggest supermarket, Tesco, has traded in line with raised expectations, posting a total operating profit of £2.8bn for the full year. This morning, chief Ken Murphy thanked a slew of price cut schemes for the lift, which saw profit exceed the board’s expectations by £50m last year. Group sales were up 7.4 per cent [...]
Team GB rower Glover happy to take back seat in pursuit of more Olympic gold April 9, 2024 The double Olympic champion came out of retirement for the second time with the aim of making it to Paris.
The best and worst corporate April Fools’ Day gags April 2, 2024 From Haggis ice cream to double-decker trollies, City A.M. rounds up the best and worst gags by businesses on April Fools' Day.
How a wine bottle made out of paper is winning over UK supermarkets March 31, 2024 City A.M speaks to Malcolm Waugh, chief executive of British packaging manufacturer Frugalpac about the importance of sustainability in the wine industry
Morrisons: Debt-laden grocer records strongest sales growth in three years March 27, 2024 Supermarket Morrisons has reported its strongest like-for-like sales in over three years, helped by competitive pricing strategies.
Aldi rewards property agents who help budget grocer find new London sites March 21, 2024 Discounter Aldi is dishing out financial rewards to London property agents who help them find new supermarket sites.
Cider maker Thatchers toasts success despite ‘unprecedented economic challenges’ March 19, 2024 Sales at historic cider maker Thatchers increased despite the company facing "unprecedented economic challenges" during its latest financial year.
UK supermarket giants launch £675m cartel lawsuit against fish farmers March 6, 2024 Several UK supermarket giants have bound together to launch a competition claim against different fish farmers, accusing them of operating a cartel-like operation. Asda, Iceland, Marks and Spencer, Ocado, Morrison, International Seafoods, Aldi and the Co-Op have all brought a lawsuit to the Competition Appeal Tribunal (CAT). The claims are against fish farmers, Seashore, Cermaq, [...]
Sainsbury’s to cut 1,500 jobs and invest in automation to reduce costs by £1bn February 29, 2024 Supermarket giant Sainsbury’s has said it plans to cut some 1,500 jobs as part of efforts to reduce costs by around £1bn per year.