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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.
Ocado and Morrisons deal nets £1.5 million for Sir Stuart Rose Monday, 20th May 2013
The former chief executive of Marks & Spencer and now Ocado chairman, Sir Stuart Rose, has reportedly seen his personal wealth rise by GBP 1.5 million following the delivery group’s deal with Morrisons, the Mail on Sunday reports. The retail veteran owns 1.2 million shares in Ocado, 450,000 of which were acquired as a result of his appointment as chairman on March 11.
Morrisons shares fall as sales continue to struggle Thursday, 9th May 2013
The UK’s fourth biggest grocer, Morrisons, crashed in the stock market today as it continues to fall behind its competitors. The 1.8 per cent slump was an improvement from its 4.1 per cent performance in the last quarter, however, shares fell 8.2p to 288.2p, making them the worst performers in the FTSE 100 index.
Sainsbury’s chief Justin King “not planning on going anywhere” Monday, 29th April 2013
Sainsbury’s chief executive Justin King was forced to play down reports over the weekend that he could be preparing to leave the retailer. King, who had led the UK’s third-biggest supermarket since 2004, rubbished claims that he could be in line to replace Bernie Ecclestone as chief executive of Formula One, or Marc Bolland as boss of Marks & Spencer.
Farmfoods profit up 13.6% despite fall in sales Friday, 26th April 2013
Frozen food specialist Farmfoods reported pre-tax profit of £20 million in 2012, up 13.6 per cent from the year before, despite a small fall in sales to £595 million. The Scottish retailer said that despite competitive trading conditions, it had managed to increase its profits by focussing on energy efficiency and reducing its employee base.
Morrisons rumoured to be considering £1bn Ocado offer Wednesday, 24th April 2013
Rumours emerge that Morrisons could be considering a full-scale offer for online retailer Ocado, in a deal that could be worth £1 billion. Morrisons has come under pressure in recent months as rival supermarkets continue to expand their online presence. Industry data on Tuesday from Kantar Worldpanel found Morrisons to have achieved a 0.3 per cent rise in sales in the 12 weeks to mid-April, in contrast with Sainsbury’s 5.4 per cent rise and Asda with 3.0 per cent.
Tesco hit by first annual fall in profit in 20 years Wednesday, 17th April 2013
Britain's biggest retailer on Wednesday announced its first fall in annual profit in 20 years, after taking a USD 1.5 billion writeoff on its loss-making Fresh & Easy business in the US. Shares in Tesco fell 2.8 per cent in early trade as the supermarket giant reported pretax profit of £1.96 billion in the year to 13 February, down 51.5 per cent.
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.
Russia’s X5 sales rise 8.1% for Q1 Friday, 12th April 2013
X5 Retail Group, one of Russia’s largest supermarket operators, has reported an 8.1 per cent increase in first quarter net sales, thanks to new store openings. The first three months of 2013 saw net selling space grow by 12.4 per cent for the retailer, although total like-for-like sales came in flat, up just 0.5 per cent for the quarter.
Aldi's Specially Selected now available for US customers Tuesday, 9th April 2013
Aldi has announced it will launch its own exclusive quality food range Specially Selected in the US. The Specially Selected Label, which consists of selected premium products from the store, is already available for European customers, and has according to the food grocer gained a “devoted following”.