Tesco share price falls despite taking the fight to supermarket rivals with rising revenues October 3, 2018 Tesco aimed to cement its status as the UK’s largest supermarket today with rising revenue and operating margins as it fights off competition from merging rivals and cheaper competitors. However, shares fell more than seven per cent in morning trading as the retailer missed a key profit metric. The figures The retail giant posted a 13 [...]
Amazon eyed buying Waitrose but was held off by John Lewis Partnership May 6, 2018 Amazon considered an acquisition of Waitrose last year, but was blocked from entering formal talks, reports suggest. A senior executive at the online shopping giant’s UK arm pushed for a meeting with the John Lewis Partnership but was “shut down” by the board, the Sunday Times reported today. The tech company’s acquisition of Whole Foods [...]
Morrisons earnings preview: Grocery chain faces uphill battle amid Asda-Sainsbury’s merger May 7, 2018 Grocery chain Morrisons is set to announce its first quarter trading results on Thursday, and the company may have a lot to prove. Analysts at Barclays forecast sales growth of 1.7 per cent, below the company’s figures for the fourth quarter of 2017. If so, it would be the lowest sales growth since the end [...]
Majestic Wine reveal solid FY figures, but outlook is cautious June 14, 2018 Majestic Wine revealed solid full-year figures this morning, but issued a cautious outlook. Revenue rose by 2.3% to £476.1 million, broadly in line with estimates. Pre-tax profits jumped by 33% to £17.2 million, meeting analysts’ forecasts. The total dividend was increased by 40% to 7.2p, which comfortably topped the consensus estimate of 5.67p. The wine [...]
NatWest has recruited a “digital human” called Cora to help customers February 21, 2018 NatWest has developed a new “digital human” prototype called Cora to have conversations with customers and help them out with some 200 banking queries. Since the start of last year, NatWest has been using a text-based chat bot which customers can use on its online help pages. Now though, the bank has drawn upon “advances [...]
A Merry Lidl Christmas: Lidl doubles Prosecco sales in record Christmas trading January 11, 2017 Lidl has bagged its best ever Christmas sales figures as it doubled its Prosecco sales in December. The discount grocer celebrated a 10 per cent sales increase year-on-year in December, but shoppers weren't just reaching for the booze – sales of carrots parsnips, Brussel sprouts and potatoes jumped 60 per cent. Turkey sales increased by 40 per [...]
Ocado’s tech prowess must be celebrated May 18, 2018 It took a mega deal with a US grocer for Ocado to prove that it’s no basket case. The online grocer saw shares soar more than 80 per cent during trading yesterday after it announced that Kroger, one of the world’s biggest grocery chains with annual sales of $122bn (£90bn), will now use Ocado’s technology to [...]
How would a potential merger affect Big Four supermarket giants Asda and Sainsbury’s? May 2, 2018 Earlier this week grocery giants Asda and Sainsbury’s sent shockwaves through the retail industry as they announced merger plans. If the proposal is successful, the new organisation could overtake Tesco as the UK’s largest retailer. There are some obstacles to clear before the merger is confirmed of course. The Competition and Markets Authority will have [...]
Supermarket sweep: Which FTSE 100 grocer is the best buy? August 14, 2018 British supermarkets haven’t had an easy ride lately. There’s been plenty for them to worry about – the biggest being the rising cost of imports as sterling has continued to slide (the pound dropped to €1.11 and $1.28 last week). A weak pound has tightened profit margins. And with heavy competition from discount retailers, passing [...]
Sainsbury’s growth falls behind big rivals in latest Kantar figures as it eyes Asda merger to halt Tesco’s march May 1, 2018 The latest grocery market share figures out today from Kantar Worldpanel report strong showings from Tesco and Morrisons while Sainsbury’s growth lags behind. The much-discussed Sainsbury’s merger with Asda, confirmed in detail yesterday, would nab a potential share of 31.4 per cent. For the 12th consecutive period, Tesco has grown more than two per cent, [...]