News
Our latest news is detailed below.
Somerfield reports turnaround
Somerfield has unveiled a massive turnaround in sales and debt as it prepares to be swallowed by the Co-operative Group.
The chain, which agreed to be bought by Co-op Group in July for £1.57bn, said like-for-like sales in the year to 28 April rose 2.5% against a 2.4% drop the year before.
This momentum continued throughout 2008 with like-for-like sales up 5.4% in the half-year to 8 November.
Debt was reduced from £882m in the year before to £770m while earnings before interest and tax....
17 December 2008
Discounters more expensive than Top 4 supermarkets
The discounters are more expensive than all of the big four supermarkets, according to exclusive research carried out for The Grocer, with Asda the cheapest and Aldi charging the highest prices.
Using a list of 50 ‘essential’ grocery items, our ‘Discounter 33’ research, conducted by ESA, selected 33 products avilable across Aldi, Lidl and Netto, as well as the big four.
It found shopping at a discounter could be up to 61% more expensive than sticking to the budget ranges of standard supermarkets.....
17 December 2008
Nichols buys stake in Dayla
Vimto manufacturer Nichols has acquired a 50% stake in Dayla Liquid Packing for £2.78m to boost its dispensed cold drinks operations.
Dayla has been a major supplier to Nichols dispensed soft drinks range Cabana for a number of years and also operates a premium juice manufacturing site. It recorded sales of £9.2m in the year to September.
Nichols also has the option of purchasing the remaining 50% stake in Dayla in 2011 or 2012.
“This deal gives our dispense systems operation direct....
17 December 2008
Cadbury chief says retailers stocking less chocs
Cadbury chief executive Todd Stitzer has warned that shops are stocking fewer of the confectionery giant’s products on their shelves as retailers struggle to improve their cash flow.
Stitzer made the comments after Cadbury yesterday insisted that its end-of-year performance would be in line with expectations. However, Stitzer admitted that sales in North America and parts of Europe had “softened” over the last quarter.
“Cautious consumers are taking fewer trips to convenience stores and....
17 December 2008
Netto MD Lancaster joins Morrisons team
Morrisons will benefit from greater intelligence of the discounter market following its appointment of former Netto MD Richard Lancaster, say analysts.
Lancaster, who left Netto two weeks ago, will bring a "wealth of experience" to Morrisons when he joins the retailer as senior trading director in January, according to analysts. He will be responsible for ambient categories of grocery, home and leisure, and BWS.
"Morrisons trades in the face of Aldi, Lidl and Netto, and the competition....
17 December 2008
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