Asda ranked worst big supermarket for treatment of suppliers while Iceland comes last overall June 25, 2018 Asda ranks lowest among the big four supermarkets for treatment of suppliers, according to the regulator's annual report released today. Out of all 10 grocers assessed by the Groceries Code Adjudicator survey, Iceland ranked last and the Co-op was second from the bottom. Some eight per cent of Asda suppliers reported that the supermarket "rarely" [...]
Majestic Wine reveal solid FY figures, but outlook is cautious June 14, 2018 Majestic Wine revealed solid full-year figures this morning, but issued a cautious outlook. Revenue rose by 2.3% to £476.1 million, broadly in line with estimates. Pre-tax profits jumped by 33% to £17.2 million, meeting analysts’ forecasts. The total dividend was increased by 40% to 7.2p, which comfortably topped the consensus estimate of 5.67p. The wine [...]
Having a house near a supermarket can boost your house price by as much as £43,000 June 9, 2018 Owning a home close to a chain supermarket could potentially boost the house price by £21,500 on average, according to research by Lloyds Bank. The new research also showed that areas within range of so-called premium supermarkets, such as Waitrose, Marks & Spencer and Sainsbury's, will command house prices which are on average 12 per [...]
From John Lewis to Jaguar: The companies Brits most want to work for May 24, 2018 John Lewis has been ranked the company Brits would be most proud to work for, in a new YouGov poll. The high street stalwart was followed by M&S, Mercedes-Benz and then Jaguar. The polling giant asked the public whether they would be proud or embarrassed to say that they work at a business, and this [...]
Ocado’s tech prowess must be celebrated May 18, 2018 It took a mega deal with a US grocer for Ocado to prove that it’s no basket case. The online grocer saw shares soar more than 80 per cent during trading yesterday after it announced that Kroger, one of the world’s biggest grocery chains with annual sales of $122bn (£90bn), will now use Ocado’s technology to [...]
Fintech mortgage broker Trussle secures £13.6m in Goldman Sachs-led funding May 9, 2018 Online UK mortgage broker Trussle has has secured £13.6m in financing from a group of international investors led by investment bank Goldman Sachs as part of its Series B funding round. The fintech company, which launched in 2016, uses its online platform to offer consumers an easier and more transparent way to access a mortgage. [...]
The future of UK supermarkets is big data and personalisation May 9, 2018 The proposed merger of two supermarket giants, Asda and Sainsbury’s, has been hailed as one of the new “forces of UK retail”. But in a rush to point out that the combined chain would have nearly a third of the UK supermarket sector, one key factor has been ignored: Amazon. Amazon recently launched its online [...]
Morrisons earnings preview: Grocery chain faces uphill battle amid Asda-Sainsbury’s merger May 7, 2018 Grocery chain Morrisons is set to announce its first quarter trading results on Thursday, and the company may have a lot to prove. Analysts at Barclays forecast sales growth of 1.7 per cent, below the company’s figures for the fourth quarter of 2017. If so, it would be the lowest sales growth since the end [...]
Amazon eyed buying Waitrose but was held off by John Lewis Partnership May 6, 2018 Amazon considered an acquisition of Waitrose last year, but was blocked from entering formal talks, reports suggest. A senior executive at the online shopping giant’s UK arm pushed for a meeting with the John Lewis Partnership but was “shut down” by the board, the Sunday Times reported today. The tech company’s acquisition of Whole Foods [...]
How would a potential merger affect Big Four supermarket giants Asda and Sainsbury’s? May 2, 2018 Earlier this week grocery giants Asda and Sainsbury’s sent shockwaves through the retail industry as they announced merger plans. If the proposal is successful, the new organisation could overtake Tesco as the UK’s largest retailer. There are some obstacles to clear before the merger is confirmed of course. The Competition and Markets Authority will have [...]