Morrisons has revealed a 47% plummet in half-year profits before tax to £126M plus plans to close 11 stores, affecting up to 900 jobs, as boss David Potts reaffirmed his faith in the retailer's food manufacturing business.
Tesco has been praised for paying more for milk used in cheese over the winter months to processors and dairy farmers by the National Farmers Union (NFU).
A report questioning whether packaged bread manufacturers in the UK could be facing a terminal decline in sales of their products, has been published by Euromonitor International.
Former Seabrook Crisps boss John Tague has sent a letter directly to Sainsbury ceo Mike Coupe to persuade him to stock his Tags brand of crisps, following a £125,000 investment from the BBC’s Dragons’ Den stars.
Former Seabrook Crisps md John Tague walked away with a £125,000 investment after four of the BBC’s Dragons’ Den stars battled it out to get their hands on a slice of his £760,000 crisp business.
Few supermarket suppliers are adequately trained in the Groceries Supply Code of Practice (GSCOP), limiting their ability to use the full force of the law that’s there to protect them against retailer mistreatment, it has been revealed.
Competition from limited assortment discounters (LADs) continues to cause problems for the food and drink manufacturers and their supermarket customers, according to our exclusive annual Food Manufacture survey.
Tesco boss Dave Lewis has slowed the retailer’s haemorrhaging sales, as his plans to regain customers from the discounters Aldi and Lidl achieved a dip of just 1.3%, its first quarter results show.
Tesco, Asda, Sainsbury and Morrisons will never recover the market share they have lost to the discounters Aldi and Lidl, because they remain “too big and too slow” to react effectively, a leading analyst has claimed.
The food and drink industry has united behind a new eight-step plan for food businesses to increase resource efficiency, reduce food waste and support people experiencing food poverty.
Discounters Aldi and Lidl could be on a path to destruction, potentially becoming “the person they tried to beat”, if their growth is mismanaged, leading city analysts have warned.
Small food and drink businesses should shun the big four supermarkets and consider other routes to market that might be more suitable for their product, according to a number of firms.
Bright Blue Foods is targeting £100M in sales within four years as the cake business gears up for further growth after restructuring and investing £2M in its Shadsworth bakery in Blackburn.
Allied Bakeries (AB) won’t be stung by Tesco’s decision to drop the bakery giant’s flagship Kingsmill bread brand, Nick Law, AB’s operations director has claimed.
Tesco has suffered a ‘dismal’, ‘nightmare’ year, “struggling to reassert its dominance”, but is showing signs of hope for the future, according to analysts.
Morrisons has experienced a “worryingly flagging” fall in the number of shoppers visiting its stores in the past year, according to its annual results, a leading analyst has claimed.
Tesco is reawakening as incomes rise and volume sales start to rise in the UK grocery market, according to Clive Black, director and head of research at Shore Capital.
Tesco is remaining tight lipped about widespread media reports that Britain’s biggest retailer is planning to cut up to 10,000 jobs in a bid to revive its flagging fortunes.
Groceries Code Adjudicator (GCA) Christine Tacon’s investigation of Tesco will be limited by a lack of cash and the period of time she can examine, one food industry commentator has warned.
That was the food industry week that was – good for some and bad for others. In our sideways look at the past seven days, we chart the firms with something to celebrate and those that may prefer to forget the week.
The impact of the supermarket price war on food and drink manufacturers, politics and the prospect of a food tax all featured in Paul Wilkinson’s summary of 2014 at the Business Leaders’ Forum in central London.
With the November test report on campylobacter highlighting levels of contamination on whole chickens in UK retail averaging 70% over six months, at least one retailer said it was on-track to have all its birds wrapped in an ovenable roast-in bag to avoid...
Tesco must plug its leadership gap to aid its turnaround, as the retailer’s suspension of key players in the light of its accounting crisis has weakened it, one analyst has claimed.
Tesco has unveiled another fall in like-for-like sales (LFL) and a major cost-cutting programme, including the closure of 43 stores, in financial results covering the 19 weeks to January 3.
Sainsbury’s suffering can “only intensify” according to one analyst, as the retailer’s poor third financial quarter (Q3) results highlighted its vulnerability should Tesco begin to recover from a tough 2014.
Tesco’s plan to tackle its plight is likely to have big implications for the whole of the food industry, according to Shore Capital analyst Clive Black.
Tesco looks set to simplify its store offerings, cutting down on the number of stock keeping units (SKUs) it holds, but ensuring their better availability to customers, as it attempts to cut costs and restore profitability. This emerged as Tesco published...
Community Foods plans to launch its healthy snacks brand Jumble Bee into Morrisons after its debut in 480 Tesco stores in August and is exploring ways to broaden its reach further.
Tesco’s bleak third-quarter results – posting a 92% fall in pre-tax profits to £112M and news of the chairman’s decision to quit – have provoked a predictably acerbic reaction from City and retail analysts.
The upsurge of the discounters may finally be over as the “imploding” big four take decisive action to tackle them, leading city analysts have claimed.
Tesco’s embarrassing £250M accounting discrepancy, admitted last month, will punish shareholders not suppliers but underlines the dangers of over reliance on any one retailer, said retail analyst Conlumino.
Aldi will attack the premium end of the food market by targeting wealthy consumers this Christmas, bosses have said, after announcing a 65% increase in its UK profits to £260.9M.
Analysts have been left “flabbergasted” by Tesco’s admission that it may have overstated its expected half-year profit by as much as £250M in an interim statement last month.
Fresh food is the first battleground as traditional supermarkets such as Tesco and Sainsbury fight against stiff competition from discounters Aldi and Lidl, according to a leading food analyst.
Mash Direct has recruited 37 staff in the past year and aims to dramatically increase turnover and target further business wins following a new ready meal contract with Asda.
Tesco meat packer Hilton Food Group is investing significantly in its facilities at Huntingdon to meet increased demand from the retailer, which it announced in its results today (September 9) for 28 weeks to July 13.
Former Tesco group brand director Carolyn Bradley and former Tesco group HR director Catherine Glickman are to join the board of brewer and pub business Marston’s as independent non-executive directors.