As consumer price index inflation reaches a 12-month high, should we expect price rises to accelerate? February 17, 2016 Ben Brettell, senior economist at Hargreaves Lansdown, says Yes. Yes – but not by much, and not because of any inflationary pressures in the underlying economy. The headline rate of inflation continues to be largely driven by volatile fuel prices. Throughout 2015, fuel prices were registering double-digit falls compared with a year earlier. But given how [...]
FTSE 100 index still volatile as days two of the European Council summit in Brussels looms – but Coca-Cola’s share price fizzes February 19, 2016 The FTSE 100 index opened with volatility this morning after having fallen below 6,000 mark yesterday as investors continued to look to Brussels The UK's blue chip index was trading 0.09 per cent down at 5,970 points in the early morning, having risen to 5,987 points as the market opened. "Having stalled on Thursday after large gains the [...]
ONS consumer price index: Motor fuel helps send UK inflation up by 0.3 per cent in January February 16, 2016 Petrol prices helped Britain's annual inflation rate inch up to a 12-month high in January, figures released by the Office for National Statistics (ONS) today showed. The consumer price index (CPI) rose 0.3 per cent in the year to January, up from 0.2 per cent in December, and in line with economists' expectations. This means prices rose 7.9 per cent [...]
Asda poaches Sainsbury’s executive Roger Burnley to be chief operating officer October 13, 2015 Asda has poached one of rival Sainsbury’s top executives as competition among the supermarket chains heats up. Sainsbury’s retail and operations director Roger Burnley is jumping ship to take up the role of chief operating officer at Asda, the Walmart-owned group announced this morning. The appointment comes after Asda reported its worst ever quarterly result in the 16 [...]
Tesco, Asda and Morrisons named Christmas losers by Kantar as Waitrose, the Co operative, Aldi and Lidl crowned the winners January 12, 2016 There was little Christmas cheer for the supermarket sector – but some individual grocers outperformed the wider market, Kantar Worldpanel said this morning. The sector as a whole fell 0.2 per cent in the 12 weeks to 3 January, with Asda dropping the furthest – consumer spend at the Walmart-owned retailer was down 3.5 per cent. Tesco [...]
Kantar figures show Aldi and Lidl combined now account for 10 per cent of UK grocery market November 17, 2015 Budget supermarkets Aldi and Lidl now account for 10 per cent of all spend on the British grocery market for the first time since they launched in the country, new figures reveal. The two grocers have stolen market share from the more established supermarkets in a short period of time. Just three years ago, their [...]
Asda cuts unleaded petrol and diesel prices as chief Andy Clarke calls on George Osborne to freeze fuel duty in Autumn Statement October 26, 2015 Asda boss Andy Clarke has called on George Osborne to freeze fuel duty in his upcoming Autumn Statement, as the supermarket made further cuts to the cost of fuel at its pumps. “There are undoubtedly green shoots at a macroeconomic level and our customers are cautiously optimistic which is why they continue to save, particularly at this time of year. [...]
Asda backtracks on London expansion plans as it seeks to revive flagging sales October 19, 2015 Asda has become the latest supermarket to backtrack on store opening plans after scrapping ambitions to expand in London in favour of reviving deteriorating sales at existing stores. US-owned supermarket chain said it is “temporarily” slowing down the planned expansion of smaller format stores in London as well as its programme to develop more stand-alone petrol [...]
Sir Ken Morrison has taken a £6m stake in rival Sainsbury’s December 21, 2015 The outspoken former chairman of Morrisons has taken a £6m stake in rival supermarket Sainsbury's. Sir Ken Morrison now owns 2.6m share in Sainsbury, while his son William owns 2.1m, giving the pair a combined £11.9m stake. The man who once told Morrisons' chief executive Dalton Phillips his strategy was "bulls***" has gone further than just implied support. [...]
Aldi and Lidl expansion plans speed ahead of Tesco, Sainsbury’s, Morrisons and Asda in supermarket wars with five times as many planning applications May 5, 2015 Rival German discounters continue to outpace the UK's "big four" in the supermarket wars with ambitious plans for expansion five times the rate of Tesco, Sainsbury's, Morrisons, and Asda combined. While Tesco and Morrisons have been forced to shutter stores in the midst of declining sales and squeezed margins, Aldi and Lidl have submitted plans [...]