How Aldi is about to overtake Waitrose and become the sixth largest supermarket in Britain July 29, 2014 Aldi and Lidl continue to win in the battle of the supermarkets as their market share surged and sale rise, leaving the big four- Tesco, Asda, Sinasbury's and Morrisons- trailing behind. Aldi’s stellar performance places it almost level with Waitrose as the big four continue to feel the pressure from discounters. The latest figures from [...]
B&M Retail hails strong maiden results after IPO delivers windfall payout July 28, 2014 B&M Retail, the discount shopping chain, yesterday reported a strong start to the year in its first trading update since its stock market debut in May. The fast-growing chain, which sells everything from bedding to barbecues, said group sales jumped by 31.9 per cent to £367m in the first quarter to 28 June. UK sales [...]
Tesco veteran Andrew Higginson to chair Morrisons after 15 years at supermarket July 28, 2014 Tesco’s former finance boss Andrew Higginson is expected to be appointed as the chairman of rival supermarket chain Morrisons. Current chairman Sir Ian Gibson has been in the position since September 2007, and last month announced his intention to stand down. Retail veteran Higginson spent 15 years on the board at Tesco, with 11 as [...]
Giraffe restaurant’s co-founders Juliette and Russel Joffe quit July 28, 2014 Giraffe’s co-founders Juliette and Russel Joffe quit their jobs at the restaurant chain yesterday, just over one year after they and fellow founder Andrew Jacobs sold the chain to Tesco. Jacobs is staying on in his job, while the Joffes will continue some work with Tesco in a consulting capacity. Giraffe has 60 sites, including [...]
Supermarkets cut fuel prices July 28, 2014 THE LATEST round of petrol price wars kicks off today, as three of the country’s largest supermarket chains lower the cost at the pumps. Tesco, Asda and Sainsbury’s have all slashed 2p per litre off the price of diesel and petrol. Morrisons has not yet followed suit, but says it “will be evaluating [its] pricing [...]
Supermarkets say Tesco tax would raise the price of food July 28, 2014 A senior executive at Sainsbury’s slammed proposals to levy another new tax on supermarkets yesterday, saying that the plans would lead to higher food prices. Derby City Council has proposed that local councils be permitted to introduce a “local levy” to supplement existing business rates, adding up to 8.5 per cent, to be kept by [...]
Inside Track: Sands deserves praise for facing critics July 27, 2014 Say what you like about Standard Chartered chief executive Peter Sands, and many people have in the past few days, he deserves credit for facing his critics. Sands knows that the performance of the emerging markets bank he runs hasn’t been all it could have been during the last few months. But on Thursday last [...]
Ex-Asda bosses Archie Norman and Allan Leighton linked to Morrisons chairman role July 27, 2014 Former Asda bosses Archie Norman and Allan Leighton are said to be in the running to become the new chairman of troubled supermarket chain Morrisons. Norman and Leighton were credited with reversing Asda’s fortunes in the 1990s and are both seen as plausible candidates to help revive the chain, which has been losing market share [...]
Councils seek to impose “Tesco tax” on supermarkets July 26, 2014 Local councils in England are requesting the right to impose a “Tesco Tax” on large supermarkets, in an attempt to recirculate supermarket spending in small communities. The tax would apply to all retail outlets with a rateable value of £500,000 or more. Derby City Council, backed by 19 other councils across the country, [...]
London Report: Tesco share price falls to lowest in 10 years as GSK warns on earnings July 23, 2014 Shares in Tesco yesterday fell to their lowest level in almost a decade after the beleaguered supermarket issued a profit warning earlier this week and announced that chief executive Philip Clarke is stepping down. Tesco’s shares fell 0.49 per cent to 276p yesterday, down 4.6 per cent since Monday when Clarke’s exit was announced and [...]