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, [...]
Walmart nabs Amazon rival Jet.com in $3.3bn deal August 8, 2016 US retail giant Walmart has scooped up Amazon rival Jet.com in a $3.3bn (£2.5bn) takeover, the companies announced today. The deal, which Walmart will use to bolster its online offerings, has been approved by both companies' boards of directors and is expected to close in the second half of this year. Part of the $3bn [...]
Viognier once dwindled to just eight acres of vines; thankfully now this varied wine is getting the props it deserves August 2, 2016 Viognier is one of my favourite summer whites and one that grows on me with every bottle. It has a complexity, a range of floral scents and flavours and even a slight muskiness that demands attention. It’s a sobering thought that we almost lost this harlequin grape completely. Viognier is a pain to grow, prone [...]
Yeo Valley-manufactured yoghurts sold at Tesco, Waitrose, Asda, Sainsbury’s and The Co-Operative in rubber scare recall August 1, 2016 Five supermarkets have been advised to recall thousands of own-brand yoghurts manufactured by Yeo Valley as they may contain small pieces of rubber. Asda, the Co-Operative, Sainsbury, Tesco and Waitrose have all been affected by the recall of the yoghurts. The rubber was found in a fruit conserve made by a supplier, Yeo Valley said [...]
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 [...]
Over 65s face less inflation than millennials due to the supermarket price war July 19, 2016 The over 65s have the lowest real inflation rate of any age group because of the supermarket price war, according to research from Fidelity International. The report from Fidelity shows the over 65s experience an inflation rate of 0.3 per cent, while millennials (under 30s) face an inflation rate of 0.9 per cent – the highest of any [...]
Aldi is hungry for a 10 per cent share of the grocery market July 6, 2016 It's a tough time for supermarkets, but as the price war between the Big Four rages on, Aldi's UK chief executive says he is aiming to take a 10 per cent share in the grocery market. Speaking to City A.M., Matthew Barnes, Aldi's chief executive in UK and Ireland Matthew Barnes said: "We will have 10 per cent [...]
Walgreens Boots Alliance posts a 15 per cent slide in net earnings, sending its share price lower despite beating expectations July 6, 2016 Walgreens Boots Alliance, the company that has controlled UK high street pharmacy chain Boots since 2014, has reported analyst estimate beating results but has failed to stop a share sell off. Shares were down by over three per cent in New York following the results announcement. For the third quarter the company reported earnings per share [...]
Supermarket sell-off: grocers’ share prices fall as HSBC analysts predict Asda will cut prices July 6, 2016 The big grocers' share prices fell today after analysts said Asda may cut its prices, trimming the industry's profits and intensifying the supermarket price war. HSBC analyst David McCarthy said: "We believe there are signs that Asda may be about to fundamentally reposition on price, bringing down sector profits. Read more: Traders betting against troubled supermarkets "Asda has been [...]