No break for Brits as inflation pushes the cost of kitchen staples by 80 per cent April 18, 2023 Brits are yet to receive a break from soaring food prices as the price of cheddar cheese, sliced white bread and porridge oats are up to 80 per cent more expensive than a year ago. As inflation reached record highs due to the war in Ukraine, consumers were forced to fork out more for kitchen [...]
As supermarkets rake in profits, Goldilocks would go hungry on the cost of oats April 18, 2023 The price of food is one of the main factors driving double-digit inflation. It keeps on going up, that's why industry leaders must finally step up to protect supermarkets' customers, writes Sue Davies
FTSE 100 close: THG skyrockets 40 per cent while miners edge London index higher April 17, 2023 London’s FTSE 100 kicked off a fresh week in muted fashion today, inched higher by investors snapping up shares in mining giants, while fashion firm THG skyrocketed more than 40 per cent on mounting takeover rumours. The capital’s premier index added 0.1 per cent to close at 7,879.52 points, while the domestically-focused mid-cap FTSE 250 [...]
Supermarket wars: Lidl and Aldi play catch up with Tesco in slashing price of milk April 14, 2023 Aldi and Lidl have followed rival supermarkets Sainsbury’s and Tesco in slashing the price of milk. The budget retailers announced on Friday that they are cutting the price of their four-pint own brand bottles by 10p from £1.65 to £1.55. The change follows a similar announcement by supermarket Sainsbury’s on Thursday, with Tesco being the [...]
Explainer: Tesco needs more than cheap milk to keep loyalty in the supermarket price war with Aldi and Lidl April 14, 2023 Tesco has had a rocky week. In the midst of a cost of living crisis, remaining loyal to businesses is tough, as the nation has been forced to favour being frugal over buying name brand goods. This revelation rang all too true for Tesco on Thursday, as Britain’s biggest supermarket reported its operating profit was [...]
FTSE 100 close: London index squeezes out gain as UK economy unexpectedly flatlines in February April 13, 2023 London’s FTSE 100 nudged higher today after fresh figures showed the UK economy unexpectedly stalled in February, while Tesco clocked decent gains despite posting a big profit slump. The capital’s premier index edged 0.24 per cent higher to close at 7,843.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
Tesco hit by inflation and supermarket war with Aldi and Lidl as profit down almost seven per cent April 13, 2023 Tesco, Britain’s biggest supermarket, was hit hard by consumers tightening their belts during the cost of living crisis, as it reported its operating profit was down almost seven per cent on last year. The London-listed chain said its profit was £2,6bn for the year to the end of February which was down 6.9 per cent [...]
Supermarket price wars: Tesco slashes price of milk for first time in three years to rival Lidl and Aldi April 13, 2023 Tesco has slashed the price of milk for the first time in three years and locked the price of over 1,000 products, in the latest move by the UK’s biggest grocer to rival discounter supermarkets. As shoppers are forced to ‘shop around’ for the best-value options, Tesco has reduced the price of a pint of [...]
Tesco share price: Analysts watch grocer’s market share April 9, 2023 Tesco is expected to reveal a dip in profits for the past year as the supermarket group grappled with rampant food and drink inflation. The UK’s largest retailer will update investors and analysts over its financial performance for the year to February in an update on Thursday April 13. A consensus of analysts has said [...]
All eyes on Tesco as UK’s biggest supermarket to say profit down £2.8bn – but what do shareholders want next? April 7, 2023 Tesco is expected to reveal a dip in profits for the past year as the supermarket group grappled with rampant food and drink inflation. The UK’s largest retailer will update investors and analysts over its financial performance for the year to February in an update on Thursday April 13. A consensus of analysts has said [...]