The supermarket squeeze: Big four supermarkets outperformed by discounters and premium competitors June 1, 2016 The big four food retailers – Tesco, Sainsbury's, Asda and Morrisons – are suffering in the supermarket squeeze today as both discount and premium challengers boasted the strongest sales growth. Tesco had the smallest drop in sales of the big four, at 0.1 per cent, and Asda the biggest, with a 5.1 per cent decline in sales. Discounters Aldi and [...]
The secret to building consensus around a bold new strategy May 26, 2016 Boardrooms, senior executives and politicians alike are facing growing challenges when it comes to getting decisions made. Whether it’s dealing with issues around the EU referendum, new company policies or investing in new technology, the number of different stakeholders involved is higher than ever before. In a room of different opinions, it is easy to fall [...]
Brexit worries are dampening consumer confidence, says Marks and Spencer boss May 25, 2016 Consumer confidence has been hit by uncertainty over the EU referendum and has consequences for retailers, according to Marks & Spencer boss Steve Rowe. Speaking today after Marks & Spencer posted its latest results, the company's new chief executive said short term confidence has been knocked. “Customer confidence and optimism, particularly in the short-term, in the last few [...]
At the close: Traders looking up on bumper day for the FTSE 100 May 24, 2016 The markets were up today, the pound was up today and oil was up today, as buyers outnumbered sellers across the board. The FTSE 100 closed up 1.4 per cent at 6,219.26, with greens dominating screens, defying logic as economic data pointed to a looming US rate rise and UK public sector finances disappointed. Tesco was the [...]
Prices will go up: Retail bosses issue Brexit “catastrophe” warning May 22, 2016 Retail heavyweights have come out against Brexit, warning that leaving the European Union would be a "catastrophe" for Britain and a "massive shock to the system". The former bosses of four of Britain's biggest retailers – Tesco, Sainsbury's, M&S and B&Q – have warned Brexit will cause prices to rocket, a spike in inflation, job losses and the pound [...]
For Asda boss Andy Clarke, the nadir may be yet to come May 20, 2016 It takes a brave man to call the bottom. It's just so easy to get it wrong. Asda boss Andy Clarke certainly appears to have jumped the gun when he said last August that the Walmart-owned supermarket had reached its “nadir”. At the time, his words were meant to give reassurance that, although the business [...]
Five challenges Amazon faces plotting its own-brand products May 17, 2016 Reports that Amazon is branching out into private-label groceries make sense for the retail giant. In a sluggish market own label is one of the few healthy areas, growing by 1.5 per cent in the first quarter of 2016. Retailers aren’t seen as credible without an own label range, but developing a strong offer takes time and Amazon will [...]
Aerobics in the aisles: How supermarkets could solve the obesity crisis, according to Oliver Wyman May 16, 2016 Are the UK's Big Four supermarkets responsible for the obesity crisis? Global management consultancy Oliver Wyman seems to think so. In a report released today, Oliver Wyman has said the Big Four "hold the answer" to the crisis should be using their "considerable influence" to save one million people from being obese and 1.5mn from being [...]
Watch out Tesco, now Amazon’s creating its own-brand range May 16, 2016 Is Amazon trying to eat even more of Tesco and the rest of the supermarkets' lunch? Not satisfied with muscling in on the grocery world with speedy deliveries straight to your door, the retailer-slash-tech giant is now planning on selling its own-label range of food and other sundries, according to reports. A new line of products that [...]
Lloyds Bank leads the London financial sector in British LGBT Awards May 15, 2016 Bravo to bankers at Lloyds – the firm has been crowned the top employer for promoting diversity in this year's LGBT Awards. Lloyds Banking Group, which has a professional LGBT Network of over 3000, was named LGBT Network Group of the Year. The bank saw off stiff competition from the likes of Tesco and PwC. Dubbed [...]