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14.10.25 - 10:42
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Tesco steps up UK sales as Asda struggles amid rising inflation (The Guardian)
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Shoppers hunt for deals as grocery prices rise, particularly for chocolate, fresh meat and coffeeBusiness live – latest updatesTesco has grabbed a bigger slice of Britons' supermarket shopping, as it stepped up sales and market share, while its rival Asda continued to struggle amid rising grocery inflation.The UK's biggest supermarket increased its market share to 28.3% in the 12 weeks to 5 October, up 0.7 percentage points on a year earlier, while its sales advanced nearly 7%, according to Worldpanel by Numerator. Continue reading......
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02.10.25 - 09:12
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Thames Water creditors propose new rescue plan; Tesco ups profit outlook despite pressure on household budgets – business live (The Guardian)
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Outstanding fines for sewage spills will be paid under rescue plan Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Thames Water's creditors have put forward a new rescue plan with £5.4bn funding for the beleaguered water company, under which outstanding fines for sewage spills will be paid and no dividends will be paid to shareholders.There is a huge amount of work to be done to turn around Thames Water and deliver the improved service and environmental outcomes that customers and local communities deserve.From day one, we will inject billions in new investment, strengthen Thames Water's balance sheet, transform the company for thousands of hard-working frontline staff and begin the delivery of an operational turnaround that puts 16 million customers and the environment first.Competitive intensity remains elevated. However, in the first half, a better-than-expected customer response to our actions and the benefit of an extended period of good w...
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12.06.25 - 14:24
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Upmarket Finest range helps lift Tesco sales, amid UK ′home dining boom′ (The Guardian)
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Sales of own-brand line jump 18% in first quarter, which may be reaction to high restaurant prices, say analystsBusiness live – latest updatesHouseholds treating themselves to Tesco's upmarket Finest range have helped lift sales at the UK's biggest supermarket, with analysts suggesting high restaurant prices could be driving a home dining boom.Sales of the high-end own-brand line jumped 18% in the first quarter, while fresh food purchases were also boosted by shoppers enjoying picnics and barbecues in the sunny spring weather. Continue reading......
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17.04.25 - 11:12
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Sainsbury′s joins UK retailers′ £1bn profits club but warns of flat year ahead (The Guardian)
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Supermarket to close two of its five non-food warehouses to save £70m a year, putting jobs at riskBusiness live – latest updatesSainsbury's has joined Tesco, Next and Marks & Spencer as one of a handful of retailers who have made £1bn in profits, but it does not expect to beat that figure this year amid rising costs and price competition.Simon Roberts, the chief executive of Sainsbury's, indicated that the group was ready to take on Asda, which has pledged to cut prices in an attempt to win back market share, saying his business was “committed, above all else, to sustaining the strong competitive position we have built – consistently giving customers the great value they have come to expect”. Continue reading......
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