Tesco’s 2013 pre-tax profit drops to £3.05bn April 16, 2014 Tesco, the world's third-largest supermarket, has announced a 6.9 per cent drop in full-year underlying profit before tax, to £3.05bn. Over the next three years, it's hoping to stake a claim as the multichannel, middle-market store. But the question is how easy that'll be in a climate of booming discounters and high-end stores, where consumers [...]
Tesco in shock return to the US as it rolls out fashion stores April 14, 2014 TESCO is having a second stab at the US market, announcing plans yesterday to open the first franchise stores of its clothing business F&F across the pond. The move comes just seven months after Tesco backed out of its Fresh & Easy venture in the US, booking a £1bn writedown on the move after attempts [...]
London Report: Ukraine fears prompt return to defensives April 14, 2014 A RISE in food and retail stocks, seen as “defensive” plays with investors worried by tensions in Ukraine, enabled Britain’s top equity index to inch higher yesterday. The blue-chip FTSE 100 index closed up by 0.3 per cent, or 22.06 points, at 6,583.76 points. Trading volumes came in at around 1.1 times above the index’s 3-month [...]
Tesco makes US comeback with F&F stores April 14, 2014 Tesco’s having a second stab in the US, announcing this afternoon the first franchise stores of its clothing business F&F across the pond. Last year, Tesco backed out of its Fresh & Easy venture in the US. The store was meant to take on Walmart, but it didn’t work out. Offering just a self-service option [...]
London Report: Cheer for UK as real pay up and inflation falling April 14, 2014 BRITAIN’S economy is set to put the recession firmly behind this week with news of the first real wage growth in four years and falling unemployment. Inflation and unemployment data are expected to show wage growth in March beating inflation. Capital Economics’ Paul Hollingsworth said: “The latest earnings data should show that the squeeze on [...]
Sainsbury’s offer value alternative to journo barred from Tesco dinner April 10, 2014 After reports that the Financial Times' senior retail correspondent, Andrea Felsted, has been barred from a Tesco journalist dinner this evening, a rival has put forward an alternative of their own. Grocers Sainsbury's suggests that Felsted might want to check out their £10 Bistro meal deal, for "any journos who find their dinner plans suddenly [...]
Big four grocers all lose ground to discounters April 9, 2014 BRITAIN’S four biggest supermarket groups all lost market share over the last three months to German discounters Aldi and Lidl, with Sainsbury’s suffering the biggest drop in market share in ten years. Sainsbury’s has until this month been the only one of the big four to resist the pressure of the discounters and hold onto [...]
Brand Index: Cheaper supermarket brands are outflanking Morrisons April 8, 2014 GERMAN discounters Aldi and Lidl continue to expand their reach in the UK at the expense of the so-called “big four” chains, with Aldi increasing its market share by more than a third. Tesco, Asda, Sainsbury’s and Morrisons have all experienced a decline in sales, though Asda has proved the most resilient and Morrisons has [...]
Big four grocers all lose ground to discounters April 8, 2014 BRITAIN’S four biggest supermarket groups all lost market share over the last three months to German discounters Aldi and Lidl, with Sainsbury’s suffering the biggest drop in market share in ten years. Sainsbury’s has until this month been the only one of the big four to resist the pressure of the discounters and hold onto [...]
The week in brief April 6, 2014 Advertising Week Europe draws to a close This year’s conference came to an end last week, after a roster of the industry’s best-known names gathered to discuss themes including native advertising, programmatic buying and the importance of young talent. Among the stars in attendence were Idris Elba, James Corden, and Sainsbury’s outgoing chief executive Justin [...]