Tesco raises price of meal deal due to soaring cost of food October 21, 2022 Tesco has raised the price of its well-liked lunchtime meal deal for the first time in a decade as the cost of food soars. The supermarket giant said its meal deal “continues to represent excellent value” but soaring food prices has forced it to up the cost. Inflation is currently at 10.1 per cent while [...]
Tesco pledges £1m for food banks and charities ahead of most difficult winter October 21, 2022 Tesco has put up £1m in support for food banks and charities following a desperate appeal about impending winter shortages. The supermarket giant responded to a plea from the Trussell Trust, who warned they are facing their most difficult winter to date. With the cost of living crisis eating into millions of people’s finances and [...]
Fast food fears: Warning of Christmas shortages if 600 supply workers strike October 18, 2022 There could be major food shortages this Christmas at many of Brits’ favourite eat-outs due to strike action. Almost 600 workers for Bestfood, which delivers fresh produce to some of the country’s most-loved chains, are threatening industrial action. The workers are members of the GMB Union, and “bust a gut” to keep outlets such as [...]
Asda to open Express convenience stores in bid to gain market share October 18, 2022 Asda will open its first convenience stores this winter, as the supermarket hopes to appeal to more shoppers on the go. The first Asda Express store will open in Sutton Coldfield next month, followed by a store in Tottenham Hale in December. Some 30 more stores will be rolled out across 2023, in a scheme [...]
Dealmaker’s Spotlight: Evercore October 17, 2022 Datasite recently spoke with Alexander Asher, Vice President, Consumer-Retail Team at Evercore, to hear his thoughts and insights on market conditions, trends, and technology. Evercore is a premier global independent investment advisory firm. Founded in 1995, the firm has advised on over US$4.7 trn M&A and restructuring transactions. Headquartered in New York, it has 17 advisory [...]
Tesco chair says Labour the ‘only team on the field’ on economic policy October 16, 2022 The chair of the UK’s largest retailer has praised Labour’s economic plans and said “there’s only one team on the field” – Sir Keir Starmer’s party. Tesco chair John Allan today said “I don’t think we’ve seen a growth plan from the Conservatives”, but that “we’ve seen the beginnings, I think, of a quite plausible [...]
Energy bill fears: Tesco sales of air fryers triple and electric blankets up 500 per cent October 12, 2022 Brits have flocked to buy air fryers and electric blankets in a bid to cut their energy use ahead of the winter. Supermarket giant Tesco reported the countertop frying appliance which deep-fries food without oil experienced a tripling in sales over the past year. Sales rocketed 200 per cent year on year as customers look [...]
Shoppers face £643 increase to yearly grocery bill October 11, 2022 Shoppers are facing an additional £643 jump in their annual grocery bill as grocery price inflation breaks another record. According to freshly published data from Kantar, grocery inflation sits at 13.9 per cent, the highest level since the data firm started tracking prices in the 2008 financial crisis. The average household’s annual grocery bill is [...]
Every little helps: Tesco reboots ‘kids eat for free’ scheme amid cost of living pressures October 7, 2022 Tesco has announced it will be bringing back its Kids Eat Free scheme during the October half-term, as the cost of living crunch continues to batter Brits. The offer means parents can spend as little as 60p to claim one free child’s meal worth up to £3.25 when showing their Clubcard at checkout. To cover [...]
High street spending slumps amid retail’s Covid recovery October 6, 2022 The high street’s Covid recovery has been slowed by the economic slump, with shoppers cutting back on shopping sprees last month. According to freshly published statistics from Springboard, the recovery of retail footfall slowed for the third month in a row. Footfall increased just 6.8 per cent, compared to a 15.6 per cent boost in [...]