Asda reports steady sales growth ahead of Sainsbury’s merger May 17, 2018 Asda reported steady sales growth today as the supermarket looks forward to its proposed tie-up with Sainsbury’s. Comparable sales growth was up 3.4 per cent in the three months to the end of March. This was helped by the early timing of Easter, but Asda said sales still grew by one per cent when adjusted [...]
Committee chairs Neil Parish and Rachel Reeves to ask competition watchdog to include suppliers in Sainsbury’s Asda probe May 2, 2018 Two select committee chairs have joined forces to ask the competition watchdog to include suppliers in any probe of the Sainsbury’s Asda merger. Neil Parish, the Conservative chair of the Environment, Food and Rural Affairs (EFRA) Committee, told City A.M. that he and Labour MP Rachel Reeves will ask the Competition and Markets Authority (CMA) [...]
Sainsbury’s to announce details of talks for £10bn Asda merger April 30, 2018 Details of a proposed £10bn mega-merger between Sainsbury’s and Asda will be revealed today, after it emerged that the two giants are locked in takeover talks. Sainsbury’s will issue a statement to the market this morning after confirming on Saturday that it was in advanced discussions regarding the tie-up with Wal-Mart owned Asda. City observers [...]
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 [...]
DEBATE: Would the Sainsbury’s-Asda merger be good for consumers? May 1, 2018 Would the Sainsbury’s-Asda merger be good for consumers? Richard Hunter, head of markets at Interactive Investor, says YES. Large deals such as these will always result in winners and losers, with suppliers and some of the competition potentially falling into the losers camp. However, it is difficult to see that consumers would be anything other [...]
Asda has been forced to ration its fizzy drinks amid an ongoing UK-wide carbon dioxide shortage June 30, 2018 Supermarket chain Asda is limiting the amount of fizzy drinks its customers can buy, as the UK's carbon dioxide shortage worsens to near-crisis levels. The retailer has put a six-drink cap on shoppers buying bottles, cans or multipacks of fizzy drinks online, although the limit does not apply in-store. This includes all own-brand drinks, as [...]
Sainsbury’s boss Mike Coupe apologises for singing “we’re in the money” as concerns grow over Asda merger April 30, 2018 Sainsbury’s boss Mike Coupe was left embarrassed this evening as he was caught on camera singing “We’re in the Money”, on the day the supermarket announced details of a merger with Walmart-owned Asda. Coupe’s little ditty came as unions and MPs raised concerns that the deal could result in job losses and a squeeze on [...]
Sainsbury’s Asda merger makes Mayfair live worse for more after delivering £140m blow April 30, 2018 Some of Mayfair’s best-known hedge funds were today delivered a blow by Sainsbury’s as shares in the supermarket giant surged following a weekend confirmation it was holding merger talks with rival Asda. Along with other retailers, the grocer is one of Britain’s most heavily shorted stocks. Some 14.55 per cent of Sainsbury’s share capital is [...]
Tesco reports 10th consecutive quarter of sales growth as Booker deal boosts prospects June 15, 2018 Tesco today reported rising like-for-like sales for the 13 weeks ended 26 May, marking the 10th consecutive quarter of positive growth. The supermarket stalwart said like-for-like sales in the UK were up 2.1 per cent, while like-for-like sales in Booker soared by 14.3 per cent. Tesco said that was driven by "a strong underlying performance [...]
Tesco reports 10th consecutive quarter of sales growth as Booker deal boosts prospects June 15, 2018 Tesco today reported rising like-for-like sales for the 13 weeks ended 26 May, marking the 10th consecutive quarter of positive growth. The supermarket stalwart said like-for-like sales in the UK were up 2.1 per cent, while like-for-like sales in Booker soared by 14.3 per cent. Tesco said that was driven by “a strong underlying performance [...]