Tesco says £1bn plan on track as troubles mount December 4, 2013 TESCO boss Philip Clarke insisted yesterday that his £1bn investment plan to turn the retailer around was “firmly on track” despite posting a slump in trading across all of its markets. UK like-for-like sales fell 1.5 per cent in the third quarter to 23 November compared with flat sales in the second quarter and in [...]
Lidl boss eyes 600 new stores December 1, 2013 LIDL’s UK managing director has announced plans to double the discount chain’s number of stores over the coming years. On the growth of Lidl’s 600 current stores Ronny Gottschlich said “If I could have the 1,200 in the next three years, then I would have it in the next three years. But it is clear [...]
Maidstone Mums: The new Holy Grail December 1, 2013 RONNY Gottschlich, managing director of Lidl UK, described the discount retailer’s growing number of core shoppers as Maidstone Mums. “The Maidstone Mum is someone who probably previously would have thought, I can’t be seen in a Lidl store. Those Maidstone Mums are no longer afraid of being seen in a Lidl store,” he said. But [...]
Bottom Line: Tesco results to show the rise of discounters December 1, 2013 TAKE note, Tesco. Britain’s biggest supermarket, which is expected to post a drop in like-for-like sales of around 1.5 per cent on Wednesday, has been caught napping by Lidl and its discount peers in recent months. Tesco has rolled out extra price cuts and special offers as it tries to win back the market share [...]
Analysts spread gloom ahead of Tesco numbers November 26, 2013 TESCO received an unwelcome early Christmas message from City analysts yesterday, as predictions of a further decline in third quarter like-for-like sales sent its shares down 2.5 per cent. Barclays predicted yesterday that the UK’s largest supermarket will report a 1.8 per cent fall in UK like-for-like sales next week compared with flat sales in [...]
Asda promises to invest £1bn in lower prices November 14, 2013 ASDA pledged yesterday to invest £1bn in lowering prices of some of its products over the next five years and expand its UK presence, as the supermarket reported a slowdown in third quarter sales. The Walmart-owned group, which is vying with Sainsbury’s to be the UK’s second largest supermarket, said the move will help it [...]
Lidl launches first television Christmas ad October 30, 2013 LIDL has launched its very first UK national TV campaign promoting its luxury range as the first-growing discount chain looks to win more middle-class shoppers from its larger rivals in the Christmas rush. The adverts, which go live today, will feature products from Lidl’s deluxe range, including mulled wine, whole cooked lobster and Serrano ham. [...]
Discounters grab market share from UK’s leading supermarkets October 22, 2013 SAINSBURY’S was the only one of the big four supermarkets to gain market share in the 12 weeks to 13 October as discounters continued to put pressure on Britain’s grocers, Data from Kantar Worldpanel out yesterday showed Aldi’s sales leapt by 31.7 per cent year-on-year, gaining record market share of 3.8 per cent against three [...]
Trouble ahead for Tesco as JP Morgan downgrades supermarket September 25, 2013 Tesco have been downgraded to underweight by J.P. Morgan. The supermarket is expected to underpeform due to structural changes in the UK food industry which may have a particularly damaging effect on Tesco. According to JP Morgan's Jaime Vazquez: In our view, pricing architecture is an industry problem, but is of most concern to Tesco [...]
Bridgepoint in €585m deal September 3, 2013 PRET a Manger owner Bridgepoint yesterday beat off stiff competition to buy AHT Cooling, which supplies fridges and freezes to supermarkets including Lidl and Aldi. The private equity firm will pay €585m to Quadriga Capital and Partners group to takeover the Austrian-based company. City A.M. understands the deal is backed by about €280m of senior [...]