Aldi may drop prices to compete with Tesco’s new budget venture Jack’s October 1, 2018 Low-cost supermarket chain Aldi "will never be beaten on price", and could even drop them in response to Tesco's new low-cost venture Jack's, it said today. UK and Ireland chief executive Giles Hurley said Aldi welcomes competition from new players such as Jack's, adding: "If we need to reduce retail prices we will." Read more: Drastic Dave's no-frills move must [...]
Tesco gets hit with £4bn equal pay bill in first wave of legal challenge | City A.M. July 11, 2018 Supermarket giant Tesco is facing the music over claims it has been underpaying its female staff, as the first 1,000 workers successfully launched a legal challenge against the retailer today. The law firm Leigh Day helped 100 women file a claim against Tesco in February, and has since followed up with a further 900 claims [...]
Buoyed by Sainsbury’s and BP gains, London’s FTSE 100 continues its rallying march May 1, 2018 The FTSE 100 is continuing its strong performance today, inching past yesterday’s 7545 highs to 7549 and extending its 10 per cent late-March reversal into May. The slip in sterling as well as a drop in UK manufacturing activity have helped buoy the London market, as have Sainsbury’s shares which have continued to rally in [...]
Duracell distributor targets alternative investment market float April 23, 2018 A leading manufacturer and supplier of batteries, lighting, and vaping products will make its stock market debut next month. Supreme, which counts retailers Asda and Iceland among its customers, announced plans today to join London’s junior market in May as it targets raising £10m for a new stage of growth. The company’s revenues hit £70.7m [...]
Tesco has formed a strategic alliance with French supermarket chain Carrefour to enhance competition July 2, 2018 Tesco and Carrefour are teaming up to beat the competition, in a strategic alliance announced this morning. A joint statement issued by the companies say the alliance will cover their relationships with global suppliers, its joint purchasing of all own-brand products, and any goods not for resale. The deal should force prices for own-brand products [...]
Supermarket sweep: Industry benefits from World Cup shopping spree September 18, 2018 The World Cup and sunny weather led consumers to spend almost £500m more at supermarkets over summer than they did the year before, according to new data released today. Alcohol spending grew by £228m, while people spent £178m more on fizzy drinks and £74m more on ice cream during one of the hottest summers on record, [...]
Supermarket sweep: Industry benefits from World Cup shopping spree September 18, 2018 The World Cup and sunny weather led consumers to spend almost £500m more at supermarkets over summer than they did the year before, according to new data released today. Alcohol spending grew by £228m, while people spent £178m more on fizzy drinks and £74m more on ice cream during one of the hottest summers on record, [...]
Can you Brexit-proof your investment portfolio? September 16, 2019 The future of Brexit is unknown, but investors and traders need to be proactive if they are to avoid any sudden shocks. Here’s how you might Brexit-proof your investment portfolio. The UK hasn’t left the EU yet, but Brexit is already wielding its influence over the financial markets. For the past three years, investors and traders [...]
Having a house near a supermarket can boost your house price by as much as £43,000 June 9, 2018 Owning a home close to a chain supermarket could potentially boost the house price by £21,500 on average, according to research by Lloyds Bank. The new research also showed that areas within range of so-called premium supermarkets, such as Waitrose, Marks & Spencer and Sainsbury's, will command house prices which are on average 12 per [...]
Walmart takes on Amazon in battle for Indian Flipkart with $15bn bid May 7, 2018 Walmart is set to take on Amazon to buy a stake in India’s biggest online retailer Flipkart, in a deal worth $15bn (£11.06bn). Reports today say that the American retailer will buy three-quarters of Flipkart’s shares at a valuation of just under $20bn. Sources close to the deal told the Financial Times that Walmart boss [...]