Sainsbury's plunges as UK regulators leaning towards blocking £10bn Asda merger
“The CMA's current view is that it is likely to be difficult for the companies to address the concerns it has identified”
Company
Tesco PLC
LON:TSCO
Tesco - the leading supermarket in Britain With small grocery stores under the Tesco Metro brand name, big supermarkets outside cities (Tesco Extra) and 24-hour stores.
1014 stories · page 6 of 11
FTSE 100 closes higher as markets more optimistic on US, China trade
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Tesco's pre-tax profits fall and debts rise under new accounting method
IFRS16 boosts operating profit but also leads to a higher interest cost to the bottom line
Berenberg ups Morrisons rating to ‘buy’ from ‘hold’, sees as beneficiary of Sainsbury's/Asda merger
The German bank's analysts argued that the £7.3bn merger deal, announced last April, would materially improve the investment case the most for Morrisons
Sainsbury's, Tesco, Morrisons and Asda lose market share to discounters over Christmas and New Year
Sainsbury's was the worst performer out of the UK's so-called big four supermarkets
Tesco could cut 15,000 jobs as it considers closing fresh food counters and bakeries
Tesco is understood to have told staff in a memo that it was finalising plans to "refresh and simplify the way we serve customers"
Archive
FTSE 100 closes in the red as global market unease continues
Britain's blue-chip index closed over 58 points lower at 6,642, while the FTSE 250 was also down
Lloyds added to JPMorgan Cazenove’s European Best Equity Ideas Overweight List
JPMorgan's European Best Equity Ideas list summarises the bank’s EMEA Equity research team’s views and top picks, covering both strategy and sector contributions
The Freddo Index: The most important economic indicator you’ve never heard of
The price increases of Cadbury's frog-shaped chocolate have caused outrage over the years, with some using it as an informal reflection of the rising cost of living
Bakkavor confirms full year expectations in “robust” update
In a full year trading update, the group said like-for-like revenues had risen 3.2% compared to 2017
Lidl sees Christmas sales boosted by premium ranges but growth halves year-on-year
The group reported on Friday that in the six weeks to 30 December, UK sales rose 8% year-on-year
Tesco, Next and Ted Baker among the festive winners as high street survives Christmas - but only just
Below we provide a cut-out-and-keep guide to the major quoted retailers and how the quoted retailers performed
Archive
Moss Bros to wrap up busy week of Christmas trading updates from high street retailers
The day includes trading updates from retailers Moss Bros and AO World, plus UK gross domestic product data and US inflation figures
Tesco best of ‘Big Four’ as Christmas sales jump
Analysts had said that Tesco would be the best of its peers, and its cheaper own brands and price promotions helped to attract increasingly value savvy shoppers
Archive
FTSE 100 closes higher as Wall Street shares mixed; optimism over trade talks fades
The Footsie has been dipping below and above the 6,800 mark throughout the day
Analysts expect Tesco to have been best of the 'Big Four' over Christmas
Admittedly, the bar hasn't been set too high but the consensus among City number crunchers is that Tesco should have performed better than its rivals over Christmas
Archive
Debenhams set to disappoint again on Thursday
“Debenhams hasn’t updated on trading since 25 October and we know from many of its competitors that November was a terrible month for retailers and December is also likely to have been a struggle”
Does Sainsbury's need Asda more than Asda needs Sainsbury's?
“The big question now is what will happen to Sainsbury’s if it doesn’t merge with Asda,” said Russ Mould, investment director at AJ Bell
Sainsbury's worst performer of big four supermarkets over Christmas, industry data shows
Sales at Sainsbury’s, which has agreed to buy Asda, fell 0.4% in the 12 weeks to December 30, Kantar Woldpanel said
WM Morrison falls as it warns of ‘change in consumer behaviour’ despite sales rise over Christmas
Like-for-like sales narrowly beat analyst forecasts, but confirmation that Aldi and Lidl are continuing to win over shoppers is likely to make investors a little bit nervous
Investments and investor services
FTSE 100 closes higher as markets climb on trade talk optimism
Trade talks between China and the US are said to be going very well, which has lit a fire under US equities
Archive
'Big Four' supermarket sweep set to kick off with Christmas trading news from Wm Morrison
The update comes after Bradford-based Morrisons on Monday said it would cut an average of 20% from the prices of 900 products, including “store cupboard favourites”
Morrisons to slash prices as German discounter Aldi reports record Christmas
Aldi sold almost £1bn worth of food and drink in the run-up to the holiday season, and Morrisons has responded by slashing the prices of more than 900 products
Investments and investor services
FTSE 100 closes lower after struggling to gain ground all day
The FTSE 250 on the other hand, a better gauge of UK companies, added over 180 points at 17,976
Archive
Slew of Christmas updates from retailers to dominate after Next's positive seasonal surprise
The Week Ahead will bring trading updates from the likes of M&S and Debenhams on the general retail front and all three of the listed UK supermarket groups – Morrisons, Sainsbury’s, and Tesco
McColl’s opts for experience as it appoints Robbie Bell as new CFO
Robbie Bell is the current CEO of motorway services operator Welcome Break, having previously held high-up finance positions at Tesco and Screwfix
Deutsche Bank cuts target for both Sainsbury's and Morrison's amid Christmas slowdown
The bank said data from research body Kantar had reported a “significant slowing consumption trend in the four weeks up to 2 Decemberso-called”
'Big Four' grocers continue to lose market share to Aldi and Lidl; Morrisons rises on Amazon bid talk
Asda was the only supermarket among the so-called ‘Big Four’ to maintain market share in the period, Kantar Worldpanel revealed
Two former Tesco bosses cleared of fraud charges as case collapses
Chris Bush and John Scouler walked free from Southwark Crown Court on Thursday, having previously been accused of failing to correct inaccurate income figures at the supermarket
Archive
FTSE 100 closes firmly lower as investors realise US/China trade dispute continues
The UK index of leading shares finished down over 39 points lower at 7,022.
John Lewis sales fall sharply for second week running amid consumer spending slowdown
Britain’s largest department store chain reported that total sales in the week to 17 November had fallen 6.8% year-on-year, following from an 8.3% plunge the week before
JP Morgan thinks City is yet to cotton onto magnitude of Wetherspoon's recent profit warning
‘Spoons is known for its wafer-thin margins, but aims to sell so much food and drink that it still turns a decent profit come end of the year, but JP Morgan has some reservations this time around
UK's biggest supermarkets slapped with unequal pay lawsuit in wake of Lloyds pensions case
Female workers continue to march against discrimination in the workplace after a court ordered Lloyds to amend its pension schemes to make benefits equal for men and women
UK's Big Four supermarkets lose further ground to Aldi and Lidl, Kantar data reveals
Aldi and Lidl have been taking market share from the four biggest supermarkets including Sainsbury's, Tesco, Morrisons and Asda
Tesco and Sainsbury's win court appeal against business rates for cash machines
Tesco said it welcomes the Appeal Court's ruling and the "confirmation of our belief that ATMs should not be separately rateable"
Five key questions for Sainsbury's boss Mike Coupe on proposed Asda merger
Some investors have raised concerns about the complexity involved in combining two very different brands
Sainsbury's profits drop as it takes hit related to proposed Asda merger
Sainsbury's continues to expect full-year underlying profit to meet market forecasts
Morrisons, Tesco, Sainsbury's and Asda change tactics as Aldi and Lidl disrupt market
With no signs of fierce competition letting up, Morrisons and Tesco have expanded into wholesale supply while Sainsbury’s is in the process of trying to merge with Asda
FTSE 100 closes in red as Wall Street shares lag; Brexit exhaustion
The UK blue-chip benchmark finished down over 27 points at 7,026, while the FTSE 250 closed down over 52 points at 18,961.
CMA’s Asda-Sainsbury’s merger inquiry to consider possible “squeeze” on suppliers
The move to bring supplier issues within the remit of the regulator’s inquiry follows pressure from politicians
‘Big Four’ continue to lose market share to Aldi and Lidl
Tesco, Sainsbury’s, Asda and Morrisons all grew sales over the past 12 weeks, but they all also gave up more market share to the German discounters (and Co-op)
Investments and investor services
FTSE 100 closes down nearly 2% as the big sell-off continues
The UK blue-chip benchmark finished down nearly 139 points lower at 7,006 - not far from the 7,000 mark
Former Tesco directors go on trial over alleged profit overstatement
Chris Bush, Tesco’s former UK managing director, and John Scouler, the former UK food commercial director, have been accused of knowing that income was being wrongly included in the firm’s financial records in order to meet targets
Kepler Cheuvreux lowers Tesco target price amid margin troubles in Thailand
Tesco has been trying to renegotiate its deals with food manufacturers in Thailand, which isn’t progressing as quickly as hoped
‘Fast Fashion’ draws ire of MPs on environmental waste concerns
Mary Creagh MP has written to the heads of companies with large clothing lines as part of an investigation into how the UK fashion industry can reduce its environmental footprint
Tesco prospects positive despite first half profit miss
Tesco is in good shape to go into battle with discount retailers and a merged Sainsbury's-Asda
redT energy raises £5mln while it looks for strategic partners
Some of the main risers and fallers in London on Wednesday...
The Gym Group appoints former Tesco director Mark George as CFO
Mark George replaces Richard Darwin, who stepped up to become chief executive officer following the departure of John Treharne
Tesco profits dented by sales slump in Europe and Asia
The supermarket group said UK sales performed well but that it had struggled in central Europe and Asia
Investments and investor services
FTSE 100 closes higher midweek, but Tesco takes a hit
Mid-cap cousin FTSE 250 also closed in positive territory - up around 35 points to stand at 20,300
Archive
Tesco resurgent despite the threat from the hard discounters
Tesco might give some more details on its plans for its cheap-and-cheerful chain, Jack's, while Avingtrans should reveal how good an acquisition Hayward Tyler has been
FTSE 100 finishes in negative territory; Royal Mail slumps - again
FTSE 100 was on the losing team all day and closed down over 21 points at 7,474
Tesco set to deliver 11th consecutive quarter of UK sales growth
Tesco is expected to notch its 11th straight quarter of UK like-for-like sales growth and deliver underlying earnings (EBIT) of around £983mln, according to UBS analysts
Aldi UK to open 130 new stores after returning to annual profit growth
Aldi’s UK and Ireland arm posted a 26% increase in operating profit last year as sales grew 16.4%
Archive
Jack’s store roll-out in focus as Tesco reports first half results
The week ahead includes Tesco interims, full-year earnings from DFS Furniture and Ferguson, an Electrocomponents trading update and the US non-farm payrolls report
Tesco tries to out-Lidl the German discounters with Jack's but the portents are not good
Aldi & Lidl are unlikely to be quaking in their boots at Tesco's new discount chain, Jack's. Numerous attempts by the Big Four supermarkets to compete with the hard discounters have not stayed the course
Investments and investor services
FTSE 100 closes higher as trade fears ebb; Kingfisher leads the laggards
The FTSE 100 closed nearly 31 points higher at 7,331, while FTSE 250 added over 42 at 20,500
Berenberg tells investors to add UK supermarket shares to their baskets
Shares in Tesco, Sainsbury’s and Morrisons have soared over the past year, but Berenberg reckons there is still a way to go
Morrisons may shun retail mega merger kingmaker role to continue online expansion
Morrisons, which has online delivery deals in place with Amazon and Ocado, will likely invest further in e-commerce with the high street in decline
Anglo Asian Mining shares fly higher as it takes steps to identify new targets
A look at some of the top risers and fallers in London on Thursday
Tesco to launch new discount chain called Jack's next week - reports
Sites in Immingham, Liverpool and St. Helens had been earmarked for potential conversions to Jack's outlets, according to reports
Wm Morrison Supermarkets facing equal pay claims worth over £1bn, according to law firm Leigh Day
In a statement published on its website on Tuesday, Leigh Day said that Morrisons had around 80,000 store staff eligible to claim, which could result in a big bill for back pay if the retailer's action are to be found unlawful
FTSE 100 closes higher with pound volatile, as tobacco stocks fire up on FDA move
The UK blue chip index rose 34 points to 7,308 around 3.40pm
Hilton Food profits boosted by acquisitions and central Europe product launch
Hilton Food bought Seachill, a UK-based fish processor, for £80.8mln last October
Are supermarket price wars about to be shelved for good?
Moves by Tesco and Asda to scrap their price guarantees may lead to the belief that the price wars are coming to an end, however a new, fiercer contest could soon be underway
Competition watchdog kicks off formal probe into merger of Walmart's Asda and Sainsbury's
The competition watchdog will begin a Phase 1 probe to assess how the deal could affect competition for customers
Sainsbury's weakest in latest Kantar data but Love Island and hot weather boosts sales
Hot weather boosted drinks sales and hit reality TV show Love Island boosted demand for men’s skincare products
Walmart-owned Asda sees second-quarter sales bounce-back as recovery continues ahead of Sainsbury's takeover
The UK food retailer said its underlying sales excluding fuel rose by 0.4% in its second quarter, but removing the impact of an earlier Easter which this year benefited the first quarter, sales were up 2.6%
Tesco's strategic alliance with Carrefour to become operational in October
Tesco's tie-up with Carrefour will allow the two to negotiate better terms from suppliers
Hot summer and football fever boost supermarket sales but Tesco and Sainsbury’s lose ground to Aldi and Lidl
News of further market share losses for Tesco will likely add more weight to reports over the weekend that it is looking to launch a new discount brand to rival Aldi and Lidl
Tesco’s new discount chain to rival Aldi and Lidl could open within six weeks
According to the Guardian, workers at one Tesco store in Liverpool which is due to close have been promised potential jobs at a “new retail format” store opening in September
Tesco's UK and Ireland boss steps down after cancer diagnosis, to be replaced by chief product officer
Britain's biggest retailer said Charles Wilson, the former CEO of wholesaler Booker which Tesco acquired in a deal that completed in March, will focus on leading the Booker business
Investments and investor services
J Sainsbury will be in focus but few fireworks expected in London on Wednesday
Wednesday is US Independence Day, meanwhile, the hangover from England's big game may leave London welcoming a light diary.
Tesco-Carrefour tie-up a 'direct response' to Sainsbury's-Asda merger, analysts say
Supermarkets have been tackling rising competition from discounters Aldi and Lidl and the growing threat of Amazon
Tesco and Carrefour announce strategic alliance to cut costs and prices
Tesco and Carrefour said the partnership will allow the companies to improve the quality and choice of products at lower prices
Archive
Housebuilders and retailers take centre stage as slew of firms release latest results
The week ahead will see quarterly results from Sainsbury's and AB Foods, trading updates from Bovis Homes and Persimmon, and full year earnings from SuperDry
Barclays Capital now assumes an 80% chance of success for the proposed Sainsbury's/Asda merger
As a result, the bank’s analysts have raised their rating for Sainsbury’s to ‘overweight’ from ‘equal-weight’ and increased their target price to 375p from 300p previously
Sainsbury's sales dip in latest trading period according to latest Kantar data
The market researcher said sales at the FTSE 100 supermarket chain were down 0.2% in the 12 weeks to June 17, while all its ‘big four’ rivals saw sales increase
FTSE 100 closes higher, buoyed by weaker sterling; Carnival goes about
The UK blue-chip index finished over 46 points higher, at 7,555..
Tesco to end Brand Guarantee scheme, focus on lower everyday prices
Tesco said as a result of the group’s investment in lower everyday prices, fewer than one in eight transactions receives any refund
Tesco boosted by 'buy' rating and target price hikes by UBS and Deutsche Bank
Tesco had a solid start to the year with first quarter sales supported by the acquisition of Booker
Tesco up as it delivers tenth consecutive quarter of positive like-for-like sales growth, boosted by Booker acquisition
In a first-quarter trading update for the 13 weekend to 26 May 2018, the retail giant reported group like-for-like sales growth of 1.8%, with an increase in the UK & the Republic of Ireland of 3.5%
FTSE 100 joins global rout as Trump's trade tactics spook markets
The UK's top share index shed over 131 points at 7,633, while mid-cap brother FTSE 250 was also lower
Archive
Tesco in the spotlight as trading update closes out heavy week for economic data
The week comes to a close with a first-quarter update from the UK's biggest (but potentially soon to be second biggest) supermarket
Archive
QE or not QE, that will be the question for the ECB Council meeting on Thursday
Aside from the ECB meeting, the day ahead also includes an annual general meeting for Wm Morrison Supermarkets, and updates from PZ Cussons and Majestic Wine
Investments and investor services
FTSE 100 closes account firmly higher, bolstered by weaker pound
The UK pound shed 0.38% against the Euro, while it was off 0.30% against the US dollar.
Tesco's banking unit saw customers unable to access app or online services on Tuesday
Tesco Bank, which has more than five million customers, apologised for the shutdown which lasted about four hours from 9.30am, according to the BBC News website
BBQ weather, Royal wedding helped boost sales at UK food retailers in May, but Sainsbury's underperformed
In the 12 weeks to May 20, Kantar Worldpanel’s industry data showed Sainsbury’s posted sales growth of 1% in the period, well below the grocery market's growth of 2.7%
Tesco to shut loss-making Tesco Direct website
The Tesco Direct website will cease trading on July 9
Tesco gets 'buy' rating from Citi on resumption of coverage
Citigroup thinks the market has been overly focused on synergies from the merger and is missing the scale of opportunity for Tesco in the wholesale market
Asda notches up fourth straight quarter of like-for-like sales growth ahead of Sainsbury’s merger
Excluding the impact of the long Easter weekend, Asda saw like-for-like sales rise 1%, an acceleration from the 0.5% rate of growth it enjoyed in the prior quarter
Investments and investor services
Royal Mail in the spotlight, but will Thomas Cook deliver more growth?
As Moya Greene's last set of Royal Mail results are released analysts expect the attention will be on guidance for 2019.
Barclays thinks Morrisons could actually benefit from Asda-Sainsbury merger
Morrisons was tipped to be one of the main losers from the £15bn merger between the UK’s second and third largest supermarket chains, but that might not necessarily be the case
Sainsbury's and Asda may have to sell at least 73 supermarkets, research shows
The proposed merger of Sainsbury's and Asda faces tough scrutiny from the UK Competition and Markets Authority
Hardware & electrical equipment
BT Group dives again; how much worse could it be were it to cut the divi?
If BT's handsome divi is supporting the BT share price, how come it has lost more than a third of its value since Gavin Patterson took over in 2013?
Morrison: It's hard NOT to be bearish on the stock
The shares have advanced 24% in a little over six weeks, which begs the question: why?
Former Asda exec says competition watchdog should block Sainsbury's merger
"Putting two low growth businesses together doesn’t create a high growth business," a former Asda executive said of the group's planned merger with Sainsbury's
FTSE 100 ends April at highest level in three months, led by Sainsbury's
Sainsbury's shares rose 29% in April on the back of news it had agreed to merge with Asda
Sainsbury's and Asda lose market share as sales trail behind 'big four' rivals, Kantar reveals
The data comes a day after Sainsbury’s and Asda reveal they had agreed to merge
Exane sees Morrison's as merger “consolation prize”, downgrades to ‘neutral’
The French broker said it thinks Morrison’s could face more competition if the big merger goes through, although it believes the firm “could be considered a consolation prize”