… as Asda loses market share to budget chains August 16, 2011 ASDA, which is owned by Walmart, yesterday reported a narrow 0.5 per cent like for like sales rise between 1 April and 30 June. The company said it was pinning its hopes for growth on its acquisition of 147 Netto stores. Asda said sales growth accelerated in the second quarter as its online price guarantee, [...]
Millions in Britain don’t have a pension August 10, 2011 RESEARCH undertaken by Baring Asset Management (Barings) released exclusively to City A.M. estimates that 13.6m, or 38 per cent of British adults, don’t have a pension. This is worrying, as pensions remain the best option for those looking to hang up their working boots before popping their clogs – and the sooner you start the [...]
Cranswick in profit alert after pork price increase July 26, 2011 CRANSWICK, the sliced meat and sausage maker, has been forced to warn it will miss profit forecasts this year after a rise in pork prices. During the first half of the year pig prices have increased from £1.33 per kg to £1.53 per kg, an increase of 15 per cent. Analysts have knocked between £6m [...]
Shop prices driven up by food inflation July 5, 2011 WORLD ECONOMY FOOD inflation in British shops rocketed to 5.7 per cent in June from 4.9 per cent in May, a survey by the British Retail Consortium (BRC) unveiled today. Food costs pushed overall shop price inflation to a 32-month high of 2.9 per cent in June – a dangerous signal ahead of the official [...]
Premier Foods sales slide as ingredient prices rise April 27, 2011 BRITAIN’S biggest food manufacturer Premier Foods reported a 3.1 per cent decline in first-quarter sales yesterday and said the consumer environment had become more difficult. The maker of Branston pickle, Bisto gravy and Hovis bread said its performance reflected the impact of a weak January and February following strong consumer purchases in December. Premier Foods, [...]
Inflation across OECD member states hits new 27-month high of 2.4 per cent March 29, 2011 CONSUMER prices across member states of the Organisation for Economic Co-operation and Development (OECD) rose by 2.4 per cent in February compared with 2.2 per cent in January — the highest rate since October 2008. This increase was driven by food and energy inflation which reached three per cent and 10.1 per cent respectively. Excluding [...]
Sainsbury’s misses quarter four target as times get tough March 23, 2011 J Sainsbury, the third-biggest supermarket group, missed fourth-quarter sales forecasts and said trading was likely to remain tough as shoppers face rising fuel prices and government spending cuts. The group, which trails Wal-Mart’s Asda and industry leader Tesco by annual sales, said on sales at stores open over a year rose one per cent, excluding [...]
Food inflation fears grow in UK February 22, 2011 Over nine out of ten shoppers expect further food price inflation in the next 12 months, grocery research firm IGD said yesterday. Price pressure are increasingly feared by consumers, its survey showed. A third of respondents believe food will become “much more expensive” in the next year. Last October, just 19 per cent feared “much [...]
Rising commodity prices have further to go February 6, 2011 FOR two weeks our headlines and television sets have been dominated by Egypt. Prior to the scenes in Tahrir Square, all eyes were on Tunisia; contagion is spreading across the Middle East. So what role did rising food costs play in pushing the region to the brink? And how can citizens be expected to understand [...]
Shop prices kept in check December 7, 2010 INTENSE competition between retailers in the run up to Christmas is driving down shop price inflation, new figures reveal today. Shop prices are rising at a much slower rate than overall inflation, the Shop Price Index (SPI) showed. For the first time in five months year on year shop price inflation actually fell, down to [...]