Supermarket wars: Lidl and Aldi play catch up with Tesco in slashing price of milk April 14, 2023 Aldi and Lidl have followed rival supermarkets Sainsbury’s and Tesco in slashing the price of milk. The budget retailers announced on Friday that they are cutting the price of their four-pint own brand bottles by 10p from £1.65 to £1.55. The change follows a similar announcement by supermarket Sainsbury’s on Thursday, with Tesco being the [...]
RAC: Tesco, Asda, Sainsbury’s and Morrisons are ripping off motorists – but which Big 4 retailer has the cheapest petrol? April 5, 2023 Motoring group RAC today accused Britain’s big four supermarkets of overcharging drivers at the petrol pumps.
Co-op warns cost of living crisis will eat into future profits as food to funeral care firm feels pain of inflation April 5, 2023 The Co-operative Group has warned that ongoing inflation and economic uncertainty is likely to reduce its profits in 2023. The food, insurance and funeral care provider revealed its underlying profit remained flat at £100m for the year while EBITDA was down £15m to £490m compared to £505m in 2021. Group revenue for the year was [...]
Can online favourite Ocado make a comeback, or will its share price sink lower? March 28, 2023 Ocado’s share price fell nearly six per cent in afternoon trade as the “magic” of the online retailer’s venture with Marks and Spencer did little to buoy the confidence of investors In its start of year trading update Ocado revealed that retail revenue grew slightly by 3.4 per cent, although a 7.5 per cent decrease [...]
Asda owners shrug off £9bn debt pile and size up £8bn Subway take over March 28, 2023 The billionaire owners of supermarket Asdaare reportedly sizing up an £8bn takeover of global sandwich maker Subway. According to reports in The Sun, billionaire’s Mohsin and Zuber Issa are understood to be eyeing up the 44,000 restaurant chain. The pair, who gained their notoriety as the founders of forecourt business EG Group, already have Subway [...]
Matalan drafts in supermarket execs as bruised retailer looks to rebuild reputation March 27, 2023 Matalan has drafted in a pair of former Lidl and Co-op executives as the bruised value retailer looks to rebuild its performance following the exit of founder John Hargreaves earlier this year. Jo Whitfeild, the former chief of the Co-op’s food division, will take the lead as Matalan’s chief executive. She will replace interim chief [...]
Milk, meat and fruit worst affected as supermarket groceries DOUBLED in cost over last year, Which? says March 22, 2023 The cost of some everyday groceries has more than doubled over the last year, consumer brand Which? has found. The company analysed inflation on more than 25,000 food and drink products at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose. Which? looked at the average price of the products in the three [...]
CMA probes Asda’s £611m Co-op petrol station takeover deal over fears it could hike fuel prices March 14, 2023 Asda’s £611m takeover over of 132 Co-op petrol stations has come under scrutiny from the UK’s competition watchdog over concerns the deal was likely to push up fuel prices. After the supermarket snapped up the sites last October the Competition and Markets Authority (CMA) launched a Phase 1 investigation at the start of this year [...]
Issa Brothers mull sale of Asda properties as debt rises March 12, 2023 Asda has launched a £8.6bn review of its property estate as the billionaire brothers behind the business scramble for options to reduce its debt pile, according to reports. According to reports in The Telegraph, owners Mohsin and Zuber Issa backed by private equity backers TDR Capital, are targeting the sale and leaseback of Asda’s supermarket [...]
Aldi to lift restrictions on fresh produce as shortages ease March 11, 2023 Aldi said it will remove all customer limits on buying fresh produce as supply issues which led to widespread shortages begin to ease. The supermarket joins Lidl and Asda in lifting restrictions. Aldi said in a statement on Saturday: “From Monday (March 13), Aldi will remove all purchasing restrictions on fresh produce – including limits [...]