More needs to be done for mums to go to Iceland March 16, 2016 As the challenger discount supermarkets continue to expand their market share, more established rivals are reacting in differing ways in their attempts to recoup lost ground. Iceland, known for its inexpensive frozen produce, has been trying to reposition itself. By improving the quality of its offering, it is aiming to broaden its appeal in the [...]
Sainsbury’s share price falls despite posting a sales rise in the fourth quarter as deadline looms for Argos bid March 15, 2016 Sainsbury's is continuing to prove itself the strongest of the big four supermarkets, with total and like-for-like sales up in the fourth quarter as it moves to phase out multi-buy offers entirely. But the business has warned of ongoing challenges in the market as the price wars continue. The figures Total retail sales excluding fuel [...]
Budget 2016: Tesco boss Dave Lewis urges government to reform business rates, warning that retail jobs could be lost without it March 14, 2016 Tesco boss Dave Lewis has urged the government to reform business rates, claiming the "completely disproportionate" status quo will put further pressure on jobs in the retail sector. Lewis has doubled down on his criticisms of government policy last year, when he slammed a number of issues including the "unsustainable" rates regime. "Drastic Dave" backed a [...]
From the best US barbecue restaurants to the Senior Bankers’ Regime: What got you reading this week March 11, 2016 1. US barbecue restaurants City A.M. readers are clearly experiencing wanderlust: our US roadtrip sampling 32 of the US' most mouth-watering barbecue restaurants stormed to the top of our rankings this week. Find out where was finger-lickin' good here. 2. Another supermarket sweep Asda and Morrisons' share of of the market fell further this week – while sales at [...]
Greg Mulholland slams “unacceptable” appointment of Paul Newby as Pubs Code Adjudicator by Sajid Javid March 10, 2016 Liberal Democrat MP Greg Mulholland has slammed Sajid Javid's appointment of Paul Newby as the new Pub Codes Adjudicator (PCA). Newby, who will take up the role of PCA on 2 May for an initial term of four years, will be responsible for enforcing the Pubs Code – new legislation that will govern the relationship [...]
Aldi, Ocado, Morrisons, Tesco and Sainsbury’s are all making moves to win market share, but Asda’s next step is unclear March 9, 2016 The latest supermarket sales data has painted a slightly less gloomy picture than has become customary for Britain's big four grocers, hinting that the billions poured into lowering prices and luring back customers might finally be paying off. Despite a brutal price war that has savaged Tesco, Asda, Sainsbury’s and Morrisons, data from Kantar has shown [...]
Supermarkets abandon more schemes as pressure mounts on Sainsbury’s, Morrisons, Asda and Tesco March 8, 2016 The number of developments ditched by Britain's supermarket titans has jumped since the first half of the year, with construction and planning applications also in decline, new research shows. Property advisory firm CBRE's latest analysis of the grocery property market shows that the number of abandoned schemes rose by 13.3 per cent in the second half of 2015. Proposed projects [...]
Tesco’s share price climbs as it stems declines but Asda and Morrisons crowned worst performing supermarkets in the UK March 8, 2016 Tesco has continued to stem its declines, but Asda and Morrisons have tumbled further, according to Kantar Worldpanel's latest figures for the supermarket sector. Sales at Tesco fell 0.8 per cent – meaning its performance is still well below the sector average of 0.5 per cent growth – but a relative improvement on last month's decline of [...]
Korn Ferry: Retail sector shake-up drives 40 per cent rise in new chief executive appointments in 2015 March 7, 2016 Retailers made a wave of chief executive officer (CEO) appointments last year as businesses came under pressure to improve their performance and battle declining footfall. Executive search firm Korn Ferry’s latest retail CEO tracker released today shows that there were 45 hires across the sector last year, an increase of 41 per cent on the [...]
Morrisons chairman Andrew Higginson joins Shore Capital as senior adviser March 2, 2016 Investment firm Shore Capital has signed up retail veteran and Morrisons chairman Andrew Higginson as a senior adviser to help bolster its expertise in consumer industries. Higginson, who is also currently chairman of home shopping group N Brown, joined Morrisons in 2014 to lead a shake-up at the supermarket following years of worsening sales. He previously spent 15 years on the [...]