Tesco’s not out of the woods yet January 26, 2016 Tesco is still very much paying for the sins of the past, but it has started to turn the corner on the slow road to recovery. The coming weeks are likely to contain some unpleasant tidings for the embattled supermarket. The slap on the wrist from the grocery watchdog for failing to treat suppliers fairly is [...]
Outraged City analysts bash retailers for choosing to report on the same day January 12, 2017 Overloaded City analysts bashed UK retailers this morning for all choosing to publish financial updates on the same day. Today has been branded "Super Thursday" because so many retailers are publishing their Christmas figures. Financial reports have come from Marks and Spencer, Tesco, AO World, Debenhams, Asos and Primark-owner Associated British Foods, to name just a few. [...]
Sales at Asda, Morrisons, Tesco and Sainsbury’s all drop for the first time in a year May 4, 2016 The supermarket sector has suffered yet another setback, with sales at all of the Big Four declining in the last quarter, while – you guessed it – Aldi and Lidl posted double-digit growth. Asda was the poorest performer of the biggest supermarkets, with sales dropping 5.1 per cent according to Kantar Worldpanel, followed by Morrisons, which dropped 2.6 per cent. Sales at Tesco [...]
Tesco’s share price rises as supermarket takes fight to the discounters with launch of seven value own-label ranges March 21, 2016 Tesco has added fuel to the supermarket price war after launching a range of entry level own-label brands that will challenge the discounters on price. The retailer's share climbed by more than one per cent this morning after it said it will sell around 80 fresh, meat and poultry products under seven new "Farms" brands which, in many cases, will either match or [...]
Tesco drags Sainsbury’s and Morrisons share price down too April 13, 2016 Tesco might have hoped for a better reaction to its news that it has returned to profit this morning than for investors to send its share price tumbling. Perhaps it was the relatively cautious statement given by chief executive Dave Lewis, or the fact that while profits were above consensus expectations, sales missed by a touch. Or [...]
Small businesses at sea over Brexit as the weak pound causes headaches February 13, 2017 Theresa May has not triggered Article 50 yet, but the uncertainty stirred up by Brexit, and the weak pound, are already weighing on small and medium-sized businesses. According to accountancy firm Moore Stephens, the fall in sterling in the wake of the Brexit vote on 23 June has been a key problem for businesses, with [...]
Tesco prepares to sell off restaurant chain Giraffe March 31, 2016 Tesco is preparing for another disposal and sounding out potential buyers for restaurant business Giraffe. The supermarket bought the chain in 2013 for £49m, with plans to open Giraffe branches beside its stores. At the time, Tesco said the deal was an "opportunity to develop some of the space in our larger stores to create retail destinations [...]
Tesco’s share price climbs as it stems declines but Asda and Morrisons crowned worst performing supermarkets in the UK March 8, 2016 Tesco has continued to stem its declines, but Asda and Morrisons have tumbled further, according to Kantar Worldpanel's latest figures for the supermarket sector. Sales at Tesco fell 0.8 per cent – meaning its performance is still well below the sector average of 0.5 per cent growth – but a relative improvement on last month's decline of [...]
Tesco full-year results: Three things you need to know April 10, 2016 Tesco may just have a shock in store for shareholders and the rest of the City – and for once, it's a good one. Call it a belated Easter gift. The struggling supermarket is about to report a surprise turnaround in sales after Dave Lewis's crack of the whip over the past several months. Belt tightening [...]
Morrisons starts search for more local food suppliers February 17, 2017 Morrisons is looking for the "Innocent Smoothies of tomorrow" in a bid to get more local food to their shoppers. The supermarket wants to recruit more than 200 new suppliers across England, Scotland and Wales over the next year. To find Britain's best local food suppliers, Morrisons will invite foodmakers to pitch their products at a series [...]