Tesco v Unilever: What the analysts are saying about #Marmitegate October 13, 2016 As Brits try not to panic in the face of (probably) rapidly depleting Marmite stocks at Tesco, analysts have warned that Brexit-induced inflation is looming ever closer. Tesco's share price dropped by 2.2 per cent in early trading today, after it was revealed the supermarket is in a dispute with consumer goods producer Unilever over pricing. The [...]
Someone is selling a jar of Marmite on eBay for £100,000 as the price war between Unilever and Tesco rolls on October 13, 2016 Someone is trying to sell a jar of Marmite on eBay for £100,000 amid fears that the stocks may run low due to a supply dispute between Tesco and Unilever. Tesco has pulled Marmite and all other Unilever brands from its website after Unilever attempted to increase its wholesale prices. At time of writing Tesco's share price [...]
Unilever reports sales growth as it battles ‘tough market’ October 13, 2016 Unilever has reported an uptick in sales during the third quarter of 2016, despite facing what it described as 'tough market conditions'. Underlying sales grew by 3.2 per cent in the quarter, with price up 3.6 per cent and volume dipping by 0.4 per cent. On a constant exchange rate, sales were up by 3.4 per [...]
Tesco is struggling to stock key staples after price row with Unilever October 12, 2016 Tesco boss Dave Lewis is on a collision course with the company where he earned his stripes after the supermarket revealed it was running out of staple products such as Marmite and PG Tips. The supermarket giant said that it was running low on Unilever products and it is understood that this was as a result of [...]
Giraffe Concepts snaps up 1950s-style restaurant chain Ed’s Easy Diner in pre-packaged deal that will result in 379 redundancies October 12, 2016 Giraffe Concepts has snapped up Ed's Easy Diner in a pre-packaged sell-off of the 1950s-style restaurant chain. The purchase includes 33 of the company's 59 restaurants and will result in the immediate closure of 26 restaurants and 379 redundancies. The deal, for an undisclosed sum, also includes the Ed's Easy Diner brand and the group's head [...]
Domino’s Pizza is trialling a canoe delivery service for those who live alongside rivers October 11, 2016 First, the new delivery trend was everything to come by bicycle, mirrored by the seemingly indomitable rise of Deliveroo (and recently re-adopted by Tesco). But now, takeaway giant Domino's will be pushing the boundaries of pizza distribution afresh with its new, (somewhat) intrepid river service that will deliver to customers living near one of the UK's many [...]
Tesco’s pension headache is a real challenge because of the financial strength of the company say experts October 5, 2016 Pension experts warned that Tesco's ballooning pension deficit could cause the supermarket problems when it comes to tricky conversations with the scheme's trustees. The deficit – which doubled to £5.9bn – was higher than anticipated and will likely prompt detailed scrutiny by the trustees, in particular when it comes to next year's triennial valuation. "The ballooning deficit at Tesco is [...]
As Tesco shares jump after it reported another rise in sales, is the retailer out of the woods? October 5, 2016 Clive Black, head of research at Shore Capital, says Yes. If you go down to the woods today… well, you won’t find Tesco chief executive Dave Lewis. Two years on from a troubled and tortuous analyst meeting, with the business on its knees, the Tesco boss is reporting that the remedial measures introduced to guide the [...]
About turn: Sterling regains losses against the dollar and euro October 5, 2016 The pound has regained losses against both the dollar and the euro after it was whacked again in early trading this morning. Sterling slipped below the crucial $1.27 benchmark to set another three-decade trough against the greenback as the markets opened in London – before rebounding to $1.2726, down just 0.02 per cent. It was slower to make gains against the [...]
Tesco’s pension deficit has more than doubled in six months October 5, 2016 The market has responded positively to Tesco's new target for operating margin to move to four per cent by 2020, but Tesco also reported this morning that its pension deficit has more than doubled in six months. The deficit has risen from £2.61bn to £5.85bn due to exceptionally low bond yields, leaving the scheme's trustees in a tight spot. [...]