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Tesco saw its market share fall below 30 per cent for the first time in almost seven years as it found it difficult to compete with cheaper rivals, revealed the latest figures. The retailer’s drop in the share of the market, to its lowest point since May 2005, came during a period when Sainsbury’s achieved [...]
(Read More)24th Jan 12
Tesco tailors promotions to suit area affluence
by Harry Oldfield
Tesco is set to tailor its price deals and ranges in accordance with the wealth of people who live close to its stores. The new initiative will see consumers in poorer areas encouraged to buy Tesco Value goods through various promotions, while people residing in more affluent areas of the UK will be offered more [...]
(Read More)24th Jan 12
Ocado finance chief resigns to join Michael Page
by Sally Davies
Online grocer Ocado saw a fall in its shares after announcing that Andrew Bracey, its finance director, was departing to join the recruitment firm Michael Page. Mr Bracey, who joined Ocado in 2010 ahead of its flotation, will move to Michael Page to become its chief financial officer. Experts immediately questioned whether this was evidence [...]
(Read More)20th Jan 12
Tesco in effort to win back customers
by Paul Russell
Tesco is heavily promoting its offer to lure consumers back to its check-outs after admitting that its previous campaign to win shoppers had fallen flat. The UK’s biggest retailer has been promoting its latest deal in full-page newspaper adverts. The deal promises to give £5 off your next purchase if you spend £40 or more [...]
(Read More)13th Jan 12
Tesco warns on profits as shares tumble
by Adam Richards
Tesco shares dropped by as much as 15 per cent after Britain’s largest retailer issued a profits warning and revealed disappointing sales figures for the Christmas period. Like-for-like sales – those at stores open one year or more – increased by 1.7 per cent, excluding fuel, during the six weeks ending 7 January. Excluding VAT [...]
(Read More)12th Jan 12
Sainsbury’s vows to extend price matching campaign
by Adam Richards
Supermarket giant Sainsbury’s has vowed to extend its price matching campaign as it revealed better-than-anticipated sales in the lead-up to Christmas. The UK’s third biggest grocer saw like-for-like sales before taking fuel into account grow by 2.1 per cent over the 14 weeks ending 7 January, with customer transactions during the week before Christmas rising [...]
(Read More)10th Jan 12
Morrisons gains customers but sells less
by Harry Oldfield
Supermarket chain Morrisons has cautioned that consumers tightened their belts over the Christmas period, as it delivered disappointing trading figures and said tough times were ahead in 2012. In spite of winning 800,000 extra customers per week during the period, it sold fewer products than at the same time last year, and many shoppers traded [...]
(Read More)10th Jan 12
HMV remains upbeat despite Christmas sales decline
by Adam Richards
Entertainment group HMV has insisted that it will survive – despite reporting a further decline in sales during the run-up to Christmas. The retailer, which owns 252 outlets in the UK, said that its plans to focus on technology items, by refitting shops with an extended range of gadgets, saw like-for-like sales in the group [...]
(Read More)16th Dec 11
Aldi and Lidl top survey of customer satisfaction
by Katie Naylor
Low-cost supermarkets Aldi and Lidl have outperformed more high-end rivals such as Marks & Spencer in a yearly supermarket satisfaction report. The survey, conducted by consumer group Which?, placed Waitrose on top of the pile for the third consecutive year, receiving a total of 83 per cent for satisfaction and praise for its products and staff. [...]
(Read More)9th Dec 11
Tesco sales fall for the fourth quarter in a row
by Katie Naylor
Tesco, the UK’s biggest supermarket, has reported a dip in sales for the fourth consecutive quarter, despite its £500m Price Drop initiative. In Britain, where it has 2,700 outlets, the group reported a fall in like-for-like sales excluding fuel and VAT of 0.9 per cent during the 13 weeks ending 26 November, the same percentage [...]
(Read More)