Here’s why Ocado’s share price has slumped this morning September 13, 2016 Ocado's share price fell more than 10 per cent in early trading this morning, despite the company announcing retail sales growth of over 13 per cent. The stock had dipped by almost 15 per cent before noon, in a sell-off sparked by comments from the delivery service's chief executive Tim Steiner, who said the company is facing continued margin [...]
Ocado posts strong results – but the company is worried about the ongoing supermarket price war September 13, 2016 Ocado, the food delivery service, celebrated a positive set of results today but said the supermarket price war will drag on for some time. The group's share price slumped nine per cent in early trading on the news. The figures Sales at the group were up 15.4 per cent, reaching £314m for the 12 weeks to 7 August. Ocado's retail [...]
All eyes will be on Morrisons’ interim results this week to see if the strategy of CEO David Potts has delivered September 13, 2016 WM Morrison is on a mission to be leaner and meaner. Under CEO David Potts, 'in' have come aggressive price cuts while 'out' are a series of ill-fated ventures including a minority stake in US online grocery business Fresh Direct and M-Local, a hastily assembled collection of convenience stores. Potts has turned his focus to the [...]
Investors eye strong earnings at Morrisons September 11, 2016 Supermarket chain Morrisons is expected to deliver its best half yearly performance in four years this week. The chain, which is in the middle of a back-to-basics turnaround, has been slashing prices and doing deals with competitors to try and tempt customers through its doors. Analysts are expecting like-for-like sales growth of 0.7 per cent [...]
Morrisons steps up battle with rival supermarkets as it slashes prices of kitchen staples such as meat, poultry and vegetables September 4, 2016 Britain's fourth largest supermarket provided some Autumn cheer for consumers by announcing a series of price cuts to key products in a move that could spark a price war. Morrisons announced that prices of staples such as meat and poultry will be slashed by 20 per cent with some vegetable prices a third lower. Industry leaders said [...]
Supermarket sales creep upwards as grocers benefit from the summer sun August 23, 2016 Grocery sales edged up this summer as sunny weather encouraged shoppers to spend. According to data from Kantar Worldpanel, supermarket sales increased by 0.3 per cent in the 12 weeks to 14 August – the fastest growth in the grocery market since March this year. There is no evidence yet to suggest the Brexit vote [...]
Asda just had its worst quarterly performance on record August 18, 2016 The supermarket price war is hurting Asda, as it emerged today that sales for the company fell by 7.5 per cent in the three months to 30 June – its worst quarterly performance on record. Doug McMillon, chief executive of parent company Walmart, said: "In the UK, the competitive environment and food deflation continued to challenge the market, significantly [...]
Sorry supermarkets, grocery spending in Europe is growing at its slowest pace ever August 17, 2016 Consumer spending at supermarkets grew at its slowest pace in eight years – a historical low – as the price wars continue to take a toll, new figures reveal. The money making its way through supermarkets' tills grew by just 0.8 per cent across Europe in the second quarter of the year compared to the same period in 2015, [...]
Discount supermarkets set to benefit as consumer confidence falls through the floor after the Brexit vote July 29, 2016 Discount supermarkets are set to win big on Brexit as consumer confidence falls through the floor. UK consumer confidence dropped by 11 points in July – the biggest monthly fall for over 26 years, according to GfK. GfK’s consumer confidence index is now at -12, and dicount supermarkets could be the ones to benefit. A [...]
Brexit vote? What Brexit vote? The rise of the discounters is still hitting supermarkets’ market shares July 26, 2016 The results of last month's EU referendum may have sent markets reeling, but it seems the supermarket sector has continued as it was before – namely, with market shares sinking for all of the big four. Figures by Kantar Worldpanel showed the Brexit vote had "no immediate impact" on the prices retailers were charging or [...]