TESCO CAPS ITS PRICE CHECK OFFER March 27, 2011 TESCO has been forced to cap its offer to refund double the difference on products that can be bought for less at Asda. The supermarket giant has introduced a £20 maximum refund on its Price Check offer after canny shoppers researched Asda deals and made sizeable claims. Tesco claims they profited by finding Asda promotions.
UK’s retail sales hold steady May 24, 2011 ACTIVITY on the UK high street is “subdued, but steady,” according to the latest research by the Confederation of British Industry (CBI). Retail sales are “holding up about as well as can be expected,” the CBI said yesterday, after announcing that sales have remained surprisingly resilient this month. A positive balance of 18 per cent [...]
Iceland profits reach record high June 10, 2011 Frozen food giant Iceland’s profit soared by almost 15 per cent in the past year as cash-strapped shoppers felt the pressure from rising food prices, it reported. Net profit before tax rose 14.8 per cent to £155.5m in the year ending March 2011, compared with £135.4m in 2010, in what Iceland described as a record [...]
Leighton set to chair Pace May 30, 2011 UK BUSINESS veteran Allan Leighton is set to take up the chairmanship of struggling TV set-top box maker Pace over the next few days. Leighton has been lined up to replace Mike McTighe, who has been chairman since 2006. His appointment will be announced by the company this week, City A.M. can confirm. The news [...]
Asda closes final salary pension scheme October 8, 2010 Asda is closing its final salary pension scheme as it seeks to tackle a soaring deficit, in a move affecting around 4,000 of its staff, it said. The Walmart owned chain closed the final salary scheme to new members in 2005, said it would compensate affected employees with a cash sum equivalent to 25 per [...]
SocialGO swings into profit March 30, 2011 UK social network SocialGO saw its revenues rise 183 per cent year-on-year after adding a number of high profile clients including Hilton Hotels, Texas Instruments, Asda and Levi’s. The firm said its profits were £238,000, compared to a loss of £24,000 the previous year. SocialGO focuses on providing personalised social networks for schools, sports clubs, [...]
Oil price fall fuels hopes of cheaper petrol May 11, 2011 CRUDE oil prices dropped below $100 a barrel and US petrol futures slumped yesterday, fuelling hopes that UK forecourt prices may fall substantially soon. Crude futures plunged more than five per cent in the week’s second major oil price fall, with light sweet crude for June hitting a low of $97.50 (£59.55). Brent crude traded [...]
Morrisons is leading race for Iceland May 22, 2011 SUPERMARKET chain Morrisons is being touted as the frontrunner in the race to buy into rival Iceland, after majority owner Landsbanki officially launched a sales process for its holding in the company. The Resolution Committee for Landsbanki said last week that according to advisers UBS and Bank of America Merrill Lynch, “market conditions are currently [...]
Asda is given go-ahead for Netto deal September 23, 2010 ASDA will sell around a quarter of its newly-acquired Netto supermarkets, the Office of Fair Trading said yesterday, in a blow to the grocer’s expansion into smaller city-centre outlets. Asda paid £778m for Netto in May, but said yesterday it will find buyers for 47 shops after the OFT raised competition concerns. The supermarket is [...]
Tesco wins ad battle v Asda September 22, 2010 Supermarket giant Tesco has won a battle to get a campaign run by rival Asda banned after complaining to the ad watchdog that claims in the ad that it offers lower prices than rivals were misleading. Tesco lodged a complaint with the Advertising Standards Authority challenging three claims made by Asda as part of its [...]