Lidl to invest £1.3bn in UK store expansion February 20, 2020 Budget supermarket Lidl has announced it will invest £1.3bn in store expansion across the UK in the next two years. The German discounter – which has opened 50 new stores in the last 12 months – said this morning that it has committed to investing in growing its store portfolio in 2021 and 2020. The [...]
Jamie Oliver joins up with Tesco with new healthy recipe remit September 10, 2018 Chef Jamie Oliver has entered into a partnership with supermarket giant Tesco, seven years after leaving an 11-year advertising gig with rival Sainsbury's that saw him earn over £10m. The chef and best-selling author, whose fee has not been disclosed, is producing recipes and healthy eating tips for Tesco, aiming to “change eating habits”. “I’m [...]
Asda sales slump due to ‘cautious’ Christmas shoppers February 18, 2020 Asda sales slumped over the crucial festive trading period due to “cautious” consumer spending, as shoppers reined in their Christmas lists. The supermarket giant said like-for-like sales excluding petrol dropped 1.3 per cent in the three months to the end of December. The sales drop was driven by “challenging market conditions”, particularly in Asda’s clothing [...]
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 [...]
M&S, Tesco and Primark bosses to face MPs over fast fashion ‘waste’ October 5, 2018 Parliament's environmental audit committee has asked the bosses of 10 UK clothing retailers to reveal their environmental records, amid concerns about serial clothes dumping. High street staples Marks & Spencer, Primark, Next, Tesco, Asda and Sports Direct – among others – will also be summoned to parliament to face questions from the committee in November. Fast fashion is shorthand [...]
The Gym Group appoints former Tesco and Asos finance director as chief financial officer October 3, 2018 Low-cost exercise chain The Gym Group has appointed former Tesco director Mark George as its chief finance officer. George was most recently the deputy at car dealing company Auto Trader and has also held senior finance positions at Tesco and fashion house Asos. He will join The Gym Group at the end of the month. Gym Group chief executive [...]
Financial Conduct Authority admits major data breach February 25, 2020 The Financial Conduct Authority (FCA) has admitted that it revealed confidential consumer information on its website in a data breach last year. The City watchdog published details of roughly 1,600 people who filed complaints about it between January 2018 and July 2019. In some instances the information included names, addresses and telephone numbers. The FCA [...]
Tesco Bank hit with £16.4m fine for ‘largely avoidable’ cyber attack October 1, 2018 The financial watchdog has slapped a hefty £16.4m fine on Tesco Bank for a "largely avoidable" cyber attack that hit customers in 2016. The Financial Conduct Authority (FCA) said the bank had failed to exercise "due skill, care and diligence in protecting its personal current account holders" in the breach, in which attackers gained £2.26m. The FCA's executive [...]
Coronavirus: Sainsbury’s to ease stockpiling restrictions on products April 3, 2020 Sainsbury’s will begin removing coronavirus stockpiling restrictions from its supermarket goods from this Sunday, it said today. The supermarket said a combination of more supply and panic buying measures means there is finally more stock on the shelves, prompting it to ease stockpiling measures. Restrictions are no longer in place on Easter eggs. However, buying [...]
Coronavirus: Supermarkets rebound but leisure stocks suffer March 13, 2020 Supermarket stocks made gains this morning after being dragged down by a mass FTSE 100 sell off sparked by mounting coronavirus fears. Sainsbury’s share price jumped 8.02 per cent to 188.97p, Tesco was up 10.46 per cent at 233.3p and Morrisons climbed 7.98 per cent to 178p. Grocers are positioned well to ride out the [...]