Morrisons fights back as Tesco’s sales get worse August 27, 2014 The challenges facing Tesco incoming boss Dave Lewis were further laid bare yesterday after figures out yesterday showed a worsening sales performance at Britain’s largest grocer. According to data from Kantar Worldpanel, Tesco’s sales declined by four per cent year-on-year in the 12 weeks to 17 August. This means its market share fell to 28.8 [...]
Lidl by Lidl, the discounters are still on the rise – Bottom Line August 27, 2014 Fresh data, but no fresh hope for the mid-market grocers. Tesco dropped its market share to 28.8 per cent in the 12 weeks to 17 August, down from 30.2 per cent last year. Sainsbury’s also edged down. By contrast, premium player Waitrose grew its market share to 4.9 per cent – and its take at [...]
London Report: Petrofac buoys FTSE but poor store data weighs on market August 27, 2014 BRITAIN’S top equity index yesterday climbed to its highest closing level in nearly two months, with oil and gas services company Petrofac buoyed by positive broker comments. However, supermarkets J Sainsbury and Tesco underperformed after weak sales data. The FTSE 100 index ended up 0.1 per cent, or 7.90 points, at 6,830.66 points. Petrofac rose [...]
Tesco loses market share as more than half of Brits now shop at Aldi and Lidl August 27, 2014 Tesco's rival Asda has eaten away at its market share, while more than half of Brits now shop at budget grocers Aldi and Lidl, according to Kantar Worldpanel figures. The data released this morning shows over the 12 weeks to 17 August, grocery price inflation has fallen for the 11th consecutive period and is [...]
Just 15 per cent think challenger banks are better than big lenders August 26, 2014 New banks want to establish themselves as a fresh alternative to the dominant high street banks which have taken the blame for the financial crisis. But it is a tough ask. For new research out today from U-Switch suggests the public is not impressed with their offerings so far. Just 15 per cent think the [...]
Carve Tesco into three, says former director August 26, 2014 A former Tesco executive has called for the business to be radically restructured by its incoming boss, creating three separate entities. Bruno Monteyne, an analyst at Bernstein Research and previously Tesco.com's development director, has argued that carving the supermarket up could be the only way to halt its decline. He suggests dividing it [...]
London Report: Reports of new Pfizer Astra bid pushes up FTSE August 21, 2014 BRITAIN’S top equity index yesterday rose on gains in healthcare stocks, led by Astrazeneca on speculation that previously rejected US suitor Pfizer might make another bid. The blue-chip FTSE 100 index closed up 22.18 points, or 0.3 per cent, at 6,777.66 points. Astrazeneca rose three per cent to 4,411.50p, while domestic rival Glaxosmithkline advanced 1.2 [...]
Fashion wars… a Lidl bit of what you fancy August 20, 2014 The invasion of supermarkets into the fashion sector is hotting up after hard discounter Lidl announced yesterday it was entering the fray. The German retailer is to launch a new fashion range for women next Monday, including ankle boots for £9.99 and even a faux leather jacket for £15. Lidl already sells basic clothing such [...]
Lidl clothing range: Discount retailer challenges British supermarkets on fashion front August 20, 2014 Not content with challenging big British supermarkets on food prices, discount favourite Lidl is taking the stores on in the fashion stakes. The German retailer is about to launch a fashion range for women that includes jeans, shoes and even leather jackets, with a men's range to follow later this year. From August 25th shoppers [...]
Tesco-backed coffee shop chain Harris + Hoole to close six stores August 19, 2014 Harris + Hoole confirmed yesterday its decision to shut six stores, raising questions over its performance less than two years after Tesco’s investment in the coffee shop chain. The group sparked controversy last year after it emerged that Tesco owned a stake despite its independent guise. Tesco bought a stake with the view of introducing [...]