Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]
Will inflation ever fall back below 10 per cent? Yes, but we’ve been wrong before April 19, 2023 We find ourselves in the same situation again. UK inflation has topped the City and Bank of England’s expectations, hanging in the double digits in March at 10.1 per cent. The forecast was for it to slip to 9.8 per cent. Families and businesses will be forgiven for worrying whether it will ever fall back [...]
Tesco Clubcard discount promo DID copy Lidl logo, High Court rules against UK’s largest supermarket April 19, 2023 German discount supermarket Lidl has won its trademark lawsuit against Tesco at London’s High Court over the use of a yellow circle on a square blue background. Lidl sued Tesco in 2020 shortly after Tesco adopted a yellow circle against a blue background to promote its “Tesco Clubcard Prices” discount scheme. Judge Joanna Smith said in a written ruling [...]
No break for Brits as inflation pushes the cost of kitchen staples by 80 per cent April 18, 2023 Brits are yet to receive a break from soaring food prices as the price of cheddar cheese, sliced white bread and porridge oats are up to 80 per cent more expensive than a year ago. As inflation reached record highs due to the war in Ukraine, consumers were forced to fork out more for kitchen [...]
Shoppers head to frozen food aisles to quell ‘sizzling hot’ inflation hit April 14, 2023 Shoppers are opting for frozen meat and meals like pizza and chips as food price inflation continues to add hundreds of pounds to households’ grocery shops. New figures from research firm Kantar showed frozen food sales were ticking up in British supermarkets. Frozen poultry like chicken and game meats increased in the three months to [...]
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 [...]
Explainer: Tesco needs more than cheap milk to keep loyalty in the supermarket price war with Aldi and Lidl April 14, 2023 Tesco has had a rocky week. In the midst of a cost of living crisis, remaining loyal to businesses is tough, as the nation has been forced to favour being frugal over buying name brand goods. This revelation rang all too true for Tesco on Thursday, as Britain’s biggest supermarket reported its operating profit was [...]
FTSE 100 close: London index squeezes out gain as UK economy unexpectedly flatlines in February April 13, 2023 London’s FTSE 100 nudged higher today after fresh figures showed the UK economy unexpectedly stalled in February, while Tesco clocked decent gains despite posting a big profit slump. The capital’s premier index edged 0.24 per cent higher to close at 7,843.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
Tesco hit by inflation and supermarket war with Aldi and Lidl as profit down almost seven per cent April 13, 2023 Tesco, Britain’s biggest supermarket, was hit hard by consumers tightening their belts during the cost of living crisis, as it reported its operating profit was down almost seven per cent on last year. The London-listed chain said its profit was £2,6bn for the year to the end of February which was down 6.9 per cent [...]
Supermarket price wars: Tesco slashes price of milk for first time in three years to rival Lidl and Aldi April 13, 2023 Tesco has slashed the price of milk for the first time in three years and locked the price of over 1,000 products, in the latest move by the UK’s biggest grocer to rival discounter supermarkets. As shoppers are forced to ‘shop around’ for the best-value options, Tesco has reduced the price of a pint of [...]