Brent crude and US WTI oil slide towards $30 per barrel January 12, 2016 Oil prices slid towards $30 per barrel and to levels not seen in over a decade today. Brent crude, the global benchmark, fell over three per cent to a low of $30.43 per barrel earlier in the day, its lowest level since April 2004, before edging up to $31.12. West Texas Intermediate crude, the US benchmark, fell over three per cent to [...]
FTSE 100 index opens up on supermarkets as share price of Tesco, Sainsbury’s and Marks & Spencer rise following Morrisons results January 12, 2016 The FTSE 100 index opened higher this morning as housebuilders and supermarkets made gains. The UK's blue-chip index rose 0.2 per cent to 5,883 points, led higher by Tesco, Sainsbury's and housebuilder Berkeley Group. The index made gains despite continued scepticism about the state of the Chinese economy. Read more: And they’re off – Shire and Baxalta agree $32bn [...]
Tesco, Asda and Morrisons named Christmas losers by Kantar as Waitrose, the Co operative, Aldi and Lidl crowned the winners January 12, 2016 There was little Christmas cheer for the supermarket sector – but some individual grocers outperformed the wider market, Kantar Worldpanel said this morning. The sector as a whole fell 0.2 per cent in the 12 weeks to 3 January, with Asda dropping the furthest – consumer spend at the Walmart-owned retailer was down 3.5 per cent. Tesco [...]
Morrisons’s share price soars 10 per cent as supermarket returns to growth after 16 quarters of decline January 12, 2016 Morrisons's share price soared 10 per cent this morning after posting better-than-expected Christmas results, as it starts to win back customers. The figures Like-for-likes excluding fuel were up 0.2 per cent for the nine weeks to 3 January – its first quarterly growth in 16 quarters – while total sales excluding fuel were down 1.2 per cent. This [...]
UK grocers Morrisons, Sainsbury’s and Tesco set to show their hand in Christmas battle for sales January 10, 2016 The winners and losers of the battle for this winter’s Christmas dinner will be laid bare this week as Morrisons, Sainsbury’s and Tesco prepare to report tough trading amid intense competition in the grocery sector. Morrisons will report its Christmas trading figures on Tuesday, with the Bradford-based chain expected to post a two per cent decline [...]
Asda boss Andy Clarke adds £500m fuel to the supermarket price war with Tesco, Sainsbury’s, Morrisons as well as discounters Aldi and Lidl ahead of supermarket Christmas earnings bonanza January 10, 2016 Asda is throwing a further half a billion pounds at the supermarket price war as boss Andy Clarke predicted another "challenging" year for the sector. "There is currently no growth in the food market and the rise of the limited assortment discounters means that we must take radical action to win back our customers," said [...]
Steve Rowe: Everything you need to know about the man replacing Marc Bolland at Marks & Spencer January 7, 2016 Marc Bolland is out. After months (if not years) of shareholders and analysts calling for him to leave Marks & Spencer, the former Morrisons man is hanging up his hat on 2 April. Bolland is handing over to Steve Rowe, an M&S lifer. But Rowe is relatively unknown to the wider world. Here's what you [...]
Retail therapy: British supermarket giant Sainsbury’s considers second bid for Argos owner Home Retail Group January 5, 2016 Sainsbury's is mulling over a second bid for Home Retail Group after it came clean yesterday about a £1bn unsolicited offer for the Argos and Homebase owner. The supermarket chain said it is “considering its position” after its initial cash and share bid in November was rejected by Home Retail’s board. Home Retail was also reportedly [...]
Tesco, Morrisons, Aldi, Lidl, Asda and Sainsbury’s: What to expect from the supermarket sector’s Christmas results January 5, 2016 Supermarkets were going for broke this Christmas, after a poor year of trading for the likes of Tesco, Morrisons and Asda, with Sainsbury's the only one of the Big Four in growth in the run-up to the festive period. But with challengers Lidl and Aldi stealing market share from the price conscious, while Marks & Spencer and [...]
Sainsbury’s, Tesco, Asda and Morrisons diesel prices lowered to 99.7p falling under £1 for first time since 2009 amid falling oil prices January 3, 2016 The price of diesel will fall below £1 for the first time since 2009 at all Big Four supermarkets as Tesco and Asda were first to announce the cost of filling up will cost less, bringing a new year gift to motorists across the country. Supermarkets will drop the price per litre to 99.7 pence from Monday, with both [...]