Asda sales drop as boss Andy Clarke admits “pace and scale of change exceeded expectations” February 19, 2015 The boss of Asda has warned that the retail sector is in “one of its most challenging and changeable periods in history” as the supermarket today posted a drop in sales in 2014. The figures Like-for-likes at Wal-mart owned Asda dropped one per cent in the 12 months to December 31, while fourth quarter figures [...]
German discounters Aldi and Lidl take 10 per cent slice of UK grocery sector February 13, 2015 Discounters Aldi and Lidl now account for more than 10 per cent of the UK's grocery sales, taking £1 in every £9.31 spent at supermarkets in the last three months. The German retailers' combined market share stood at 10.7 per cent for the 12 weeks to January 31, up from 9.3 per cent last [...]
Morrisons, Tesco, Ocado and Marks & Spencer’s share prices soar after UK food sector shows signs of growth February 10, 2015 Supermarkets led the FTSE 100 higher this afternoon, after figures revealed the grocery sector was in growth once again. Morrisons' share price had recorded the biggest gains at pixel time, rising 5.5 per cent. This was on the back of Kantar figures out this morning, showing its sales had fallen 0.4 per cent, the [...]
Tesco’s share price jumps as Kantar figures reveal the supermarket has grown sales for first time in a year – but it is still losing market share February 10, 2015 Tesco's share price jumped nearly two per cent this morning after figures revealed it had grown for the first time since January 2014. The UK's biggest retailer recorded sales growth of 0.3 per cent to £7.9bn for the 12 weeks to February 1, according to Kantar Worldpanel. But that was not enough to stem the [...]
Tesco tells suppliers to cut prices as commodities slump February 8, 2015 Tesco has delivered a stern message to its suppliers: cut prices or your products could be taken off the shelves. The scandal-hit supermarket is still rebuilding its reputation following the revelation of ia £263m profit blackhole last year, yet an ongoing price war with discounters such as Aldi and Lidl has kept its [...]
From Greek elections and Apple’s record-making profits to Thameslink floods and Afren’s misery: Here’s what got us talking this week January 30, 2015 News was dominated by results from the US this week, but it was Apple that really made waves with its history-making profits of $18bn in one quarter. Here are five things that put that into perspective. (Hint: It's huge). Meanwhile as the results of the Greek election began to sink in, investors started reacting. [...]
Tesco closures prompted by discount rivals January 29, 2015 DISCOUNT rivals Aldi and Lidl could be the reason that supermarket giant Tesco decided to shut 43 of its stores. The retail group announced earlier this month that it was closing unprofitable branches across the UK, and yesterday revealed which stores it had singled out. Of the 43 listed, 74 per cent are within two [...]
Analysis: Why has Tesco chosen to shut these 43 stores? January 29, 2015 Tesco has now announced the 43 stores that it plans to close. 18 Express stores, 12 metro stores, seven superstores and six Home Plus stores. The closures will start taking effect from March. What does it tell us about their location strategy when one looks at the stores set to close? It is a [...]
Tesco store closures: 74pc of axed branches have an Aldi or Lidl nearby January 29, 2015 Discount supermarkets could be partly responsible for Tesco's plans to close 43 unprofitable stores in the UK – with the vast majority of struggling stores located near a low-price alternative. In a bid to change the fortunes of the struggling supermarket, Tesco's new chief executive Dave Lewis announced the store closures yesterday, saying the decision was [...]
Waitrose plans expansion and 2,000 new jobs January 27, 2015 Waitrose announced plans yesterday to create 2,000 new jobs as the upmarket supermarket continues to expand its presence and grab a greater slice of the grocery market. The chain, owned by the John Lewis Partnership, will open 14 new stores from spring this year including seven Little Waitrose convenience stores and seven supermarkets, including one [...]