Trolley wars: Drastic Dave’s no-frills move must hit the Jackpot for shareholders September 20, 2018 Tesco took a cheap shot at budget retailers Aldi and Lidl yesterday, launching its own discounter chain, Jack’s. Chief executive Dave Lewis opened the first store in a mothballed former Tesco outlet in the small Cambridgeshire town of Chatteris yesterday, with another 10 to 15 launches in the pipeline. The chain is named after Tesco founder [...]
Trolley wars: Drastic Dave’s no-frills move must hit the Jackpot for shareholders September 20, 2018 Tesco took a cheap shot at budget retailers Aldi and Lidl yesterday, launching its own discounter chain, Jack’s. Chief executive Dave Lewis opened the first store in a mothballed former Tesco outlet in the small Cambridgeshire town of Chatteris yesterday, with another 10 to 15 launches in the pipeline. The chain is named after Tesco founder [...]
Shepherd Neame’s exceptional costs take fizz out of profits March 6, 2019 Brewer and pub group Shepherd Neame posted a modest rise in profit before tax for the six months to the end of December, despite being hit by refinancing and contract losses. The figures Underlying profit before tax rose 1.4 per cent to £5.9m in the 26 weeks to 29 December 2018. Like-for-like sales in the group’s [...]
Competition regulator blocks Sainsbury’s-Asda merger April 25, 2019 A planned tie-up between supermarket giants Sainsbury’s and Asda suffered a final blow from the UK’s competition watchdog, which said this morning that "it has decided to prohibit the merger in its entirety". Read more: Watchdog may block Sainsbury's-Asda merger Sainsbury’s, Walmart and Asda revealed today that they have mutually agreed to terminate the merger plans [...]
Mixed bag for Britain’s grocers as market cools despite record Christmas spending forecasts December 11, 2018 Shoppers have been taking fewer trips to the supermarket in recent weeks after a bumper summer of demand, according to new data that suggests Britain's grocery sector has slowed to its lowest rate of growth in more than a year. Despite projections that spending this Christmas will break UK records, the supermarket sector grew at two [...]
Price wars versus trade wars: Markets work just fine when we leave them alone September 21, 2018 David Lewis is ramping up a food fight of epic proportions. The chief executive of Tesco has launched a spin-off chain of discount supermarkets called Jack’s (named after Tesco’s founder Jack Cohen). The aim is to become more competitive with German chains Aldi and Lidl, which have been saturating the market with cheaper products since [...]
Price wars versus trade wars: Markets work just fine when we leave them alone September 21, 2018 David Lewis is ramping up a food fight of epic proportions. The chief executive of Tesco has launched a spin-off chain of discount supermarkets called Jack’s (named after Tesco’s founder Jack Cohen). The aim is to become more competitive with German chains Aldi and Lidl, which have been saturating the market with cheaper products since [...]
Competition watchdog kills Sainsbury’s £7.3bn Asda merger: What went wrong? April 25, 2019 Almost a year to the day since Sainsbury’s first revealed that it was in merger talks with Asda, it has all come crashing down. In late April 2018 the two retail giants were losing market share to German discounters Aldi and Lidl, and the threat of Amazon moving into the grocery sector was very real. [...]
‘A farce!’ Tories react to Theresa May’s plan to back a change to her Brexit plan January 28, 2019 Theresa May is set for a showdown with the hard Brexit wing of her party on Tuesday as the war over her withdrawal plan intensifies. The Prime Minister will order her MPs to support a plan calling for the unpopular Irish backstop to be replaced with “alternative arrangements” to avoid a hard border on the island. [...]
Intu considers UK-Saudi takeover offer October 19, 2018 Shopping centre chain Intu is considering a takeover offer from a consortium including British billionaire John Whittakar, Saudi investment group Olayan, and Brookfield Property Group. Shares in Intu were up more than 14 per cent on the news that the company was mulling the offer to go private. Read more: Intu shares soar nearly 30 [...]