Analysts predict price cuts at Sainsbury’s April 29, 2014 Analysts at Deutsche Bank issued a positive note on Sainbury’s today ahead of its full-year results next week, arguing that the supermarket group could be a relative winner in the sector compared to its rivals but warning that it will have to join them in slashing prices to stay ahead of the game. The [...]
Ex-Morrisons director calls for overhaul of board April 28, 2014 ONE OF Morrisons’ former longstanding directors has hit out at the management of Britain’s fourth largest supermarket and called for its chairman to resign. Roger Owen, Morrisons’ property director for 22 years until his retirement in 2009, has accused the retailer of poor governance, criticising the structure of the board for having just two executive [...]
Tesco steps up assault with more price cuts April 22, 2014 TESCO yesterday launched a fresh round of price cuts and slashed its online shopping charges as it steps up its efforts to stop customers defecting to its discount rivals. The retailer dropped prices on over 30 products yesterday including bacon, sugar, broccoli and some of its bread ranges. The price of six Tesco free-range medium [...]
Share slump for Snoozebox as its losses grow April 16, 2014 SHARES in Snoozebox fell out of bed yesterday after the portable hotel provider said it was raising a further £11m as its annual pre-tax losses doubled. The Aim-listed firm said that while turnover rose 80 per cent to £6.7m and margins improved in 2013, the cost of growing the business had sent losses to £9.4m. [...]
The real casualties of the supermarket price wars April 16, 2014 The threat posed by the hard discounters on Britain’s big four retailers has been well documented. Tesco’s chief executive Philip Clarke today described his discount rivals as “formidable” as he announced further plans to slash prices beyond the £200m already set aside in February. But new research shows that the biggest unrecognised casualties of the [...]
Mothercare sales slide but promises lean retail operation April 10, 2014 Baby goods retailer Mothercare has suffered a fall in like-for-like UK sales of 0.3 per cent for the 12-weeks to 29 March, according to the company's latest trading statement. Total UK sales for the troubled retailer also fell by four per cent for the same period. Mothercare also saw worldwide network sales decline by 2.5 [...]
Big four grocers all lose ground to discounters April 9, 2014 BRITAIN’S four biggest supermarket groups all lost market share over the last three months to German discounters Aldi and Lidl, with Sainsbury’s suffering the biggest drop in market share in ten years. Sainsbury’s has until this month been the only one of the big four to resist the pressure of the discounters and hold onto [...]
Brand Index: Cheaper supermarket brands are outflanking Morrisons April 8, 2014 GERMAN discounters Aldi and Lidl continue to expand their reach in the UK at the expense of the so-called “big four” chains, with Aldi increasing its market share by more than a third. Tesco, Asda, Sainsbury’s and Morrisons have all experienced a decline in sales, though Asda has proved the most resilient and Morrisons has [...]
Big four grocers all lose ground to discounters April 8, 2014 BRITAIN’S four biggest supermarket groups all lost market share over the last three months to German discounters Aldi and Lidl, with Sainsbury’s suffering the biggest drop in market share in ten years. Sainsbury’s has until this month been the only one of the big four to resist the pressure of the discounters and hold onto [...]
Morrisons boss gives up £374,000 bonus March 28, 2014 DALTON Philips, the chief executive of Morrisons, has waived his £374,000 bonus after Britain’s fourth biggest grocer posted its lowest profit for five years following a dismal year. Philips has told the remuneration committee that he will not take up the cash and share bonus a spokesperson confirmed yesterday. Philips has been under pressure to [...]