Lidl submits plans for Tewkesbury store
According to Lidl's website, the store will be modern, designed to the very latest specification.If approved, the current building on the site would be demolished.The shop would be close to the Cotswold Designer Outlet, which has just opened.
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The Guardian
3 hours ago
- The Guardian
Asda is still misfiring in supermarkets' non-existent price war
Five months ago, the talk in supermarket-land was of price wars. A wounded Asda, with the corporate hero Allan Leighton back at the helm 25 years after leading the last turnaround, was out to restore the chain's 'DNA' as the price-setter among the traditional groups. A 'pretty significant war chest' would be dedicated to the task, he promised. The group's owners – the private equity firm TDR Capital and the remaining Issa brother from the 2021 leveraged buyout – were prepared to suffer a 'material reduction in our profit' in the coming year in order to get the sales line moving again. Even shares in the mighty Tesco shuddered in the face of this apparent sudden shift in competitive conditions. So how's this price war going? Well, you'd struggle to tell it exists. Tuesday's scoreboard of market shares from the research group Worldpanel, formerly Kantar, told a familiar tale. Tesco and Sainsbury's, the two FTSE 100 firms, enjoyed a red-hot summer. Asda and Morrisons, the duo carrying heaps of buyout debt, did not. In Asda's case, sales were down for the 15th month in a row. In a trade where a movement of a single percentage point in market share counts as significant, the remarkable statistic is that Asda's slice of the grocery market has declined from 14.8% at the time of the buyout to 11.8%. In the old days, Asda used to jostle with Sainsbury's (15% today) to be second to Tesco. Now a still-expanding Aldi is on its heels with 10.8%. Over at Morrisons (8.4%), there are more signs of stability, but it is still about to be passed by Lidi on 8.3%. The moral looks simple and unsurprising: it is hard to throw punches when you're loaded up with buyout debt and face better-financed rivals. Tesco and Sainsbury's always have the option of dialling down their share buybacks, which are currently chunky, if more financial ammunition is required. Meanwhile, the UK operations of Aldi and Lidl are part of enormous privately-owned international groups that define the long-term in terms of decades, as opposed to private equity's half-decade. To be fair to Leighton, he always said a turnaround at Asda would take three to five years, so one shouldn't write him off. There is still plenty he can do beyond price-cutting to fix the basics. One suspects he'll stop the bleeding in the sales line soon enough when the benefit of an £800m investment in new IT systems kicks in. But the notion that a resurgent Asda could seriously imperil the progress of Tesco and Sainsbury's, which was the stock market's worry in March, always felt fanciful – and still does. The point about the 2021 buyout of Asda is that TDR and the Issa brothers used so little equity that they could de-risk their investment via various shuffles with petrol stations and sale-and-leaseback property transactions. Their original gamble is probably a winner even if Asda merely stabilises from here. By contrast, sustaining a serious price war might require another injection of equity, meaning fresh investment risks for them. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion If Asda's owners are up for such an adventure, it would be time to rethink. But as things look today, the talk of price wars was phoney and the real bargain was shares in Tesco, which dipped to 321p during the wobble in March and are now fully a pound higher. The improvement in Sainsbury's stock is almost as good. Neither would have happened if the price war had been real.
The Sun
5 hours ago
- The Sun
Fuming shoppers slam Tesco for huge change to popular meal deal
TESCO is putting up its lunchtime meal deal by 25p in a move that will infuriate customers. The popular offer - consisting of a main, snack and a drink - currently costs £3.60, but will rise to £3.85 with a Clubcard from Thursday. 1 For those without the supermarket's loyalty card, the price will increase to £4.25, up from £4. The price of the Premium meal deal will also change to £5.50, up from £5, for those with a Clubcard and £6 for those without. The news broke after an insider said it was now "hardly a deal", and posted a picture of shelf labels showing the new price. Another user responded to the thread on "Might as well get rid of the meal deal if Tesco keeps upping the price." A second added: "I will be boycotting the meal deal from when this hike occurs." A third moaned: "£3.60 i could still defend, getting a bit mad now tho." Exactly a year ago Tesco put up the price from £3.40 to £3.60, while non-Clubcard holders were charged £4, up from £3.90. And in October 2022, the deal increased for the first time in a decade from £3 to £3.40 for Clubcard members, and from £3.50 to £3.90 for those without a loyalty card. Tesco's lunchtime meal deal is hugely popular for its variety of choices, including sandwiches, wraps and sushi selections for the main options, snacks of crisps, chocolate and fruit, and drinks such as Lucozade and cold coffee. Other supermarkets offer similar deals, and have also sparked fury over price hikes. In June, Sainsbury's raised the cost of its lunchtime meal deal by 20p, from £3.75 to £3.95. A Tesco spokesperson said: 'Our meal deal remains great value and the ideal way to grab lunch on-the-go at just for a main, snack and drink when bought with a Clubcard. 'With more than 20m possible combinations the Tesco meal deal has got something for every taste, from a classic Chicken Club Sandwich to Tesco Korean Style Chicken Dragon Rolls.' It's understood new products will be introduced into the Premium meal deal in the coming days, such as a new Finest Salmon Konbini Roll and Finest Gochujang Konbini Roll. Currently the most popular items in the basic meal deal are the Tesco Chicken Club Sandwich for main, Tesco Egg Protein Pot as the snack, and Coca-Cola 500ml. These would currently cost £6.50 when purchased separately, giving Clubcard members a saving of £2.65.
Telegraph
8 hours ago
- Telegraph
Asda sales downturn deepens as bosses struggle to revive supermarket
Asda's sales slump has deepened as bosses struggle to win shoppers back following months of declines. The supermarket recorded a 2.6pc fall in sales in the 12 weeks to Aug 10, according to figures from industry tracker Worldpanel. It marks the latest in a series of drops, with Asda's sales having fallen every month since March 2024. The latest decline meant its share of the grocery market slipped to 11.8pc in the middle of August from 12.7pc a year earlier. This is down from 15pc in 2021, when Asda was bought by TDR Capital and the brothers Mohsin and Zuber Issa in a debt-fuelled takeover. It comes as Asda bosses battle to stage a turnaround of the supermarket, pushing through a wave of price cuts and overhauling tired stores in an effort to revive its fortunes. Earlier this year, Asda chairman Allan Leighton said profits would be materially lower this year amid a major investment drive. He has claimed that the retailer is not rushing efforts to improve its performance, saying: 'There is absolutely no pressure on me or the business to come up with a quick fix. 'A quick fix would be completely the wrong thing to do.' However, the supermarket has been pushing ahead with a drive to improve its stores. The Telegraph revealed last month that Asda was pressuring suppliers including Heinz, Nestlé and General Mills to offer it lower prices, which it could pass on to shoppers. It has also been dramatically reducing its range in recent months to help drive higher sales volumes for the products which it is still stocking. Mr Leighton has suggested there are early signs that the turnaround efforts are working, with the supermarket arguing that lower prices are partly to blame for the decline in overall sales. However, Asda remained the only major supermarket to record a sales drop in the latest Worldpanel figures. The latest Worldpanel figures also showed signs of pressure at Morrisons, with sales rising just 0.9pc in the 12-week period to Aug 10. This marked a slight slowdown from the prior month, when sales were up 1pc on the prior year. Lidl has been closing the gap with Morrisons on shopper numbers, threatening to overtake the supermarket in the rankings of Britain's biggest grocers. On Tuesday, Lidl's market share stood at 8.3pc compared to Morrisons's 8.4pc. Analysts have suggested Lidl will overtake Morrisons before the end of the year. Separate figures seen by The Telegraph revealed that Marks & Spencer managed to stage a comeback in the latest four-week period, as it shrugged off a hit from a cyber attack earlier this year. Spending at Marks & Spencer was up 6.1pc in the four weeks to Aug 10, according to unpublished Worldpanel figures, which meant it was growing ahead of the market. It will come as a boost to Marks & Spencers bosses, who have been battling months of disruption in the wake of a crippling hack of its systems in April. The attack had hit deliveries into its food stores. Figures from June suggested the attack meant rapid growth at Marks & Spencer's food business ground to a halt, with analysts at NIQ saying spending in Marks & Spencers's food halls rose by 0.8pc in the four weeks to May 17. It marked a major slowdown following months of rapid growth, with grocery spending at Marks & Spencers having been up by 11pc in the 12 months to May 17.
