Tesco sales fall June 11, 2012 Tesco, the world’s third-biggest retailer, has seen a drop in quarterly underlying sales in its main British market, showing its recovery plan following a shock profit warning in January is taking time to gain traction. The supermarket group, with over 6,000 stores in 14 countries, said consumer confidence was subdued across all of its markets, [...]
Ocado sales growth accelerates May 23, 2012 Online British supermarket Ocado posted an acceleration in sales growth in its second quarter, raising hopes it has got to grips with bottlenecks at its distribution centre that led to a string of profit downgrades last year. Shares in Ocado, whose range includes products supplied by upmarket grocer Waitrose jumped 6.8 per cent on Wednesday [...]
Parents’ confidence hit as fears grow for children’s finances May 20, 2012 MOTHERS are more gloomy than ever in fearing that their children have fewer opportunities than they did when they were growing up, a new study showed today. According to a survey by Asda Mumdex, kids remain mum’s top priority, which is why they are spending twice as much on them as they put away in [...]
Asda market share up as it lures shoppers with price guarantee May 17, 2012 ASDA, the British arm of supermarket giant Walmart, said it continued to gain market share in the first quarter of the year as its focus on low prices and a revamping of own-brand ranges helped drive sales growth. The UK’s second-biggest supermarket chain behind Tesco, said like-for-like sales excluding fuel and VAT accelerated in the [...]
Supermarkets kick off petrol price drop wars May 15, 2012 TWO of the UK’s top four supermarkets have said they will cut fuel prices from today, passing on savings to customers as the cost of wholesale oil continues to fall. Sainsbury’s and Morrisons – the third and fourth biggest supermarkets by market share respectively – both confirmed yesterday they will cut petrol prices by up [...]
Morrisons sales dip in tough market May 3, 2012 Morrisons posted a fall in underlying sales in its first quarter, reflecting tough comparatives with a bumper period of trading last year and customers switching to rivals who are promoting more heavily. The supermarket chain, which trails market leader Tesco, Wal-Mart’s Asda and J Sainsbury in UK market share, said on sales at stores open [...]
Waitrose and budget stores winning sales April 24, 2012 UK CONSUMER habits are becoming increasingly divided, accordingly to new retail data that shows higher-end and budget retailers growing market share while those occupying the middle ground lose out. Kantar Worldpanel figures for the 12 weeks to 15 April 2012 showed upmarket supermarket Waitrose increasing market share from 4.3 per cent to 4.5 per cent [...]
Clarke will need more than £1bn to reverse curse of complacent incumbency April 18, 2012 LET’S keep things in perspective here. Tesco isn’t exactly struggling, although you wouldn’t know it from the bad publicity that has plagued it since a profit warning in January. Group profit of £3.83bn was up by five per cent last year on revenues that were seven per cent higher at £72bn. A distressed retailer this [...]
Tesco sheds its value stripes in UK rebranding April 4, 2012 TESCO has scrapped its blue-and- white striped Tesco Value range of products in favour of a new updated brand, as chief executive Philip Clarke continues to shake up the business in an attempt to revive UK sales. The Everyday Value range, made up of 550 products, will feature more colourful and “softer” packaging compared with [...]
Rio Tinto decides that diamond mines are not forever March 27, 2012 DEMAND for diamonds is booming. Tiffany, the luxury jeweller that is famous for using the precious stones in its pieces, earlier this month said its worldwide sales jumped 15 per cent in 2011 and warned that supplies were struggling to keep up. Gem Diamonds, which counts Tiffany as one of its biggest clients, reported a [...]