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Parliament demands supermarkets explain confusing pricing policy Tuesday, 21st May 2013
Representatives of the UK’s leading supermarkets are being summoned to parliament on Tuesday, to explain confusing and misleading “unit prices” on food and drink products. Consumer affairs minister, Jo Swinson, will meet representatives at the Department of Business to discuss inconsistencies in their promotional items, which in some cases mislead and confuse customers into buying products that do not represent value for money.
Asda report first quartely profits Thursday, 16th May 2013
Price reductions and online offerings have boosted Asda’s underlying sales by 1.3 per cent in the first quarter, Reuters reports. The supermarket chain, which is owned by American retail giants Wal-Mart, said on Thursday that excluding fuel and VAT, sales at shops open over a year have seen a 1.3 per cent rise in the 14 weeks to April 12.
Asda to trial same-day delivery service next month Tuesday, 23rd April 2013
Asda set to introduce same-day delivery service as it looks to invest £700 million into its digital business. According to a report by the Telegraph, the UK’s second largest supermarket is gearing up to open 12 new stores and create 2,500 jobs as part of a huge investment drive into the company’s digital expansion.
Bitter pill for Tesco as analysts forecast 10.7% drop in underlying annual profits while turnaround takes hold Tuesday, 16th April 2013
The UK's biggest retailer is now expected to report its first fall in underlying annual profit in two decades, as plans to rejuvenate the business begin to take hold. According to a report by Reuters, analysts have on average expect Tesco to announce an underlying pretax profit of £3.50 billion for the year to 13 Feburary.
Asda recalls corned beef after tests find veterinary drug Wednesday, 10th April 2013
Asda has issued a recall of its Smart Priced Corned Beef after tests revealed a low amount of veterinary drug phenylbutazone. The product had already been withdrawn from sale early last month after it was discovered to contain 1 per cent horse DNA. Further tests have now discovered that it was also contaminated with phenylbutazone, also known as bute.
Sainsbury's market share increases 6.2 per cent, while Tesco's falls Tuesday, 26th March 2013
Kantar World Panel has published its latest grocery market share report. The report covers the 12 weeks leading to 17th March 2013 and reveals that Sainsbury’s achieved a significant increase in its share of the market, while rivals Tesco and Morrisons saw theirs decrease. Sainsbury’s was undisputedly the retailer with the greatest increase among the “big four” of Tesco, Asda, Morrisons and Sainsbury’s.
CBI February sales index records poorest results since September Tuesday, 26th February 2013
Retail sales in February grew at the slowest pace recorded since September 2012, according to a survey conducted by the Confederation of British Industry.
Walmart posts 3.9% rise in sales for Q4 but Asda comes in flat Thursday, 21st February 2013
Photo credit: Wal-Mart Inc. The world’s biggest retailer posted a 3.9 per cent rise in sales to USD 128 billion for its fourth quarter. The figures benefited from a delayed rise in the effective tax rate in the US, with revenues over the full fiscal year up 5 per cent to USD 496 billion. Wal-mart Inc.’s US sales rose 2.6 per cent in the fourth quarter to USD 75 billion, while international sales rose 6.9 per cent to USD 37.9 billion.