Tesco steps up assault with more price cuts April 22, 2014 TESCO yesterday launched a fresh round of price cuts and slashed its online shopping charges as it steps up its efforts to stop customers defecting to its discount rivals. The retailer dropped prices on over 30 products yesterday including bacon, sugar, broccoli and some of its bread ranges. The price of six Tesco free-range medium [...]
Bottom Line: Focus on staying number one at home April 16, 2014 BELEAGUERED Tesco boss Philip Clarke has declared he isn’t going anywhere. Unfortunately, on his watch, neither is the nation’s favourite supermarket. After twenty years of rising profits for the group, this is the second year in a row where they have fallen. Pre-tax profits were down 6.9 per cent: 7.7 per cent in constant exchange [...]
The real casualties of the supermarket price wars April 16, 2014 The threat posed by the hard discounters on Britain’s big four retailers has been well documented. Tesco’s chief executive Philip Clarke today described his discount rivals as “formidable” as he announced further plans to slash prices beyond the £200m already set aside in February. But new research shows that the biggest unrecognised casualties of the [...]
Bottom Line: This is the end of the big four supermarkets March 13, 2014 DALTON Philips kicked off more than just a price war yesterday. By promising to slash prices in an effort to turn around Morrisons’ fortunes, he also exposed a growing schism at the heart of the British grocery market. For years, supermarket analysts have talked about the big four (Tesco, Asda, Sainsbury’s and Morrisons) but with [...]
What the other papers say this morning – 24 March 2014 March 24, 2014 FINANCIAL TIMES Heseltine takes control of Haymarket Michael Heseltine has taken full control of Haymarket, the publishing group he co-founded 50 years ago, as it restructures to move its flagship consumer titles online and expand internationally. The 81-year-old former Conservative politician is betting on a recovery in the fortunes of Haymarket, which made a pre-tax [...]
Tesco slashed the price of milk. Here’s how dairy farmers have responded March 3, 2014 Dairy farmers have accused Tesco of sparking a price war with its supermarket rivals that will cause further damage to an already fragile dairy industry, after the retail giant slashed the price of milk. Britain’s biggest food retailer delivered a fresh broadside in the battle for customers’ loyalty after cutting the price of a four [...]
Former Matalan boss Darren Blackhurst decides to B&Q-it January 21, 2014 DIY CHAIN B&Q said yesterday it has hired former Matalan chief executive Darren Blackhurst as commercial director as it makes further changes to its management team. The moves marks an unusual step back for Blackhurst, who was a leading contender to replace former Asda chief executive Andy Bond in 2010 and has spent two years [...]
Analysts predict price cuts at Sainsbury’s April 29, 2014 Analysts at Deutsche Bank issued a positive note on Sainbury’s today ahead of its full-year results next week, arguing that the supermarket group could be a relative winner in the sector compared to its rivals but warning that it will have to join them in slashing prices to stay ahead of the game. The [...]
5 things you didn’t know about new Sainsbury’s boss Mike Coupe January 29, 2014 Sainsbury’s CEO Justin King is leaving the supermarket in July – but what do we know about his replacement and current commercial director, Mike Coupe?1. A country boy at heart, Coupe was born in Watford in 1960 but was brought up in West Sussex. His mum was a housewife and his dad was an inventor [...]
5 things you didn’t know about new Sainsbury’s boss Mike Coupe January 29, 2014 Sainsbury's CEO Justin King is leaving the supermarket in July – but what do we know about his replacement and current commercial director, Mike Coupe? 1. A country boy at heart, Coupe was born in Watford in 1960 but was brought up in West Sussex. His mum was a housewife and his dad was an [...]