Latest news with #GilesHurley
Reuters
4 days ago
- Business
- Reuters
There is no UK supermarket price war, says Aldi boss
LONDON, May 29 (Reuters) - Britain is not in the midst of a supermarket price war despite some suggestions to the contrary, the boss of the UK arm of German discounter Aldi said, warning rivals his business still had "huge potential" for growth. In March, Asda, Britain's third largest grocer, boosted speculation of a price war, saying it would take a hit to profits to finance a campaign of price cuts aimed at reversing a slide in market share. The warning hit the shares of industry leader Tesco (TSCO.L), opens new tab and number two Sainsbury's (SBRY.L), opens new tab, which took account of Asda's move in their profit outlooks. But Giles Hurley, chief executive of Aldi UK, the number four player, said on Thursday there had been "more talk than substance". "There has been a lot of talk about a price war, I don't think that has manifested itself," he told Reuters in an interview, pointing to industry data showing grocery inflation hitting 4.1% in May, a 15-month high. "I'd probably call it more of a phoney price war than a real price war," Hurley said, maintaining that Aldi's price gap to rivals "is as big as it's ever been". Data from market researcher Kantar published on Wednesday showed Aldi UK's sales rose 6.7% over the 12 weeks to May 18, its fastest growth since the start of 2024, with its market share hitting a record 11.1%, up 30 basis points year-on-year. Aldi UK, owned by Germany's Aldi Sud, and rival discounter Lidl GB have expanded rapidly over the past two decades, transforming the supermarket scene. Aldi UK now has Asda, which has a 12.1% market share, in its sights, with the Kantar data showing Aldi now sells more food and drink than Asda. "While I'm delighted with the growth that we have, there's massive headroom for us," said Hurley. He said the group, which currently trades from 1,050 stores, would invest 650 million pounds ($875 million) this year opening 40 stores and refreshing existing ones. A further 40 openings are planned for 2026 and its long-term target is 1,500. ($1 = 0.7427 pounds)
North Wales Chronicle
15-05-2025
- Business
- North Wales Chronicle
Supermarkets pledge to keep sourcing meat from British farms after US trade deal
Giles Hurley, Aldi UK and Ireland's chief executive, said on Thursday that the supermarket will not drop food safety and welfare standards even if current regulations are watered down to secure international agreements. Meanwhile, the Co-op confirmed it remains committed to sourcing 100% British fresh and frozen meat. It comes after Tesco's chief executive Ken Murphy said the supermarket would not source beef from the US earlier this week, but would instead stick to its current policy of sourcing all meat from the UK and Ireland. Agriculture has been a key part of the preliminary trade deal struck between the UK and US last week, which sees tariffs reduced on US products including beef in return for moves that help British cars and steel. UK ministers have insisted there will be no downgrade in British food standards, which have been a significant barrier to entry for US-reared meat, including hormone-treated beef and chlorine-washed chicken. But concerns remain that the US will push the UK to accept American products with lower standards or weaken British standards to ensure closer regulatory alignment as trade talks continue. Mr Hurley said: 'British farming is known for its high welfare, food safety and environmental standards – and we know how important that is to our customers. 'That's why 100% of our everyday fresh beef, pork and poultry is sourced from British farms, and why we're guaranteeing that we won't lower our standards even if others do. 'This isn't just about food safety. It's about protecting British farmers and doing the right thing for our customers.' Aldi's policies include sourcing 100% of its core fresh beef, pork, poultry, milk and eggs from British farms, which are Red Tractor-approved. Matt Hood, Co-op's managing director, said: 'We're a long-term supporter of British farming, and was the first and, at the time, only national UK grocer to switch to 100% British fresh and frozen own brand protein including when used as ingredient in all our products, a commitment we proudly continue to stand by today. 'Farmers are the absolute backbone of the UK's food supply, so supporting UK agriculture is more important than ever for us, our member owners and customers.' On a visit to London this week, US agriculture secretary Brooke Rollins told reporters she would like to see the UK and US more aligned on food standards regulations to help remove trade barriers and open up the market to more products. The US official met with Government ministers to promote more American agricultural products, including pork, poultry, seafood, rice and specialty crops.
Glasgow Times
15-05-2025
- Business
- Glasgow Times
Supermarkets pledge to keep sourcing meat from British farms after US trade deal
Giles Hurley, Aldi UK and Ireland's chief executive, said on Thursday that the supermarket will not drop food safety and welfare standards even if current regulations are watered down to secure international agreements. Meanwhile, the Co-op confirmed it remains committed to sourcing 100% British fresh and frozen meat. It comes after Tesco's chief executive Ken Murphy said the supermarket would not source beef from the US earlier this week, but would instead stick to its current policy of sourcing all meat from the UK and Ireland. Agriculture has been a key part of the preliminary trade deal struck between the UK and US last week, which sees tariffs reduced on US products including beef in return for moves that help British cars and steel. UK ministers have insisted there will be no downgrade in British food standards, which have been a significant barrier to entry for US-reared meat, including hormone-treated beef and chlorine-washed chicken. But concerns remain that the US will push the UK to accept American products with lower standards or weaken British standards to ensure closer regulatory alignment as trade talks continue. Mr Hurley said: 'British farming is known for its high welfare, food safety and environmental standards – and we know how important that is to our customers. 'That's why 100% of our everyday fresh beef, pork and poultry is sourced from British farms, and why we're guaranteeing that we won't lower our standards even if others do. 'This isn't just about food safety. It's about protecting British farmers and doing the right thing for our customers.' Aldi's policies include sourcing 100% of its core fresh beef, pork, poultry, milk and eggs from British farms, which are Red Tractor-approved. Matt Hood, Co-op's managing director, said: 'We're a long-term supporter of British farming, and was the first and, at the time, only national UK grocer to switch to 100% British fresh and frozen own brand protein including when used as ingredient in all our products, a commitment we proudly continue to stand by today. 'Farmers are the absolute backbone of the UK's food supply, so supporting UK agriculture is more important than ever for us, our member owners and customers.' On a visit to London this week, US agriculture secretary Brooke Rollins told reporters she would like to see the UK and US more aligned on food standards regulations to help remove trade barriers and open up the market to more products. The US official met with Government ministers to promote more American agricultural products, including pork, poultry, seafood, rice and specialty crops.
South Wales Argus
15-05-2025
- Business
- South Wales Argus
Supermarkets pledge to keep sourcing meat from British farms after US trade deal
Giles Hurley, Aldi UK and Ireland's chief executive, said on Thursday that the supermarket will not drop food safety and welfare standards even if current regulations are watered down to secure international agreements. Meanwhile, the Co-op confirmed it remains committed to sourcing 100% British fresh and frozen meat. It comes after Tesco's chief executive Ken Murphy said the supermarket would not source beef from the US earlier this week, but would instead stick to its current policy of sourcing all meat from the UK and Ireland. Agriculture has been a key part of the preliminary trade deal struck between the UK and US last week, which sees tariffs reduced on US products including beef in return for moves that help British cars and steel. UK ministers have insisted there will be no downgrade in British food standards, which have been a significant barrier to entry for US-reared meat, including hormone-treated beef and chlorine-washed chicken. But concerns remain that the US will push the UK to accept American products with lower standards or weaken British standards to ensure closer regulatory alignment as trade talks continue. Mr Hurley said: 'British farming is known for its high welfare, food safety and environmental standards – and we know how important that is to our customers. 'That's why 100% of our everyday fresh beef, pork and poultry is sourced from British farms, and why we're guaranteeing that we won't lower our standards even if others do. 'This isn't just about food safety. It's about protecting British farmers and doing the right thing for our customers.' Aldi's policies include sourcing 100% of its core fresh beef, pork, poultry, milk and eggs from British farms, which are Red Tractor-approved. Matt Hood, Co-op's managing director, said: 'We're a long-term supporter of British farming, and was the first and, at the time, only national UK grocer to switch to 100% British fresh and frozen own brand protein including when used as ingredient in all our products, a commitment we proudly continue to stand by today. 'Farmers are the absolute backbone of the UK's food supply, so supporting UK agriculture is more important than ever for us, our member owners and customers.' On a visit to London this week, US agriculture secretary Brooke Rollins told reporters she would like to see the UK and US more aligned on food standards regulations to help remove trade barriers and open up the market to more products. The US official met with Government ministers to promote more American agricultural products, including pork, poultry, seafood, rice and specialty crops.
Western Telegraph
15-05-2025
- Business
- Western Telegraph
Supermarkets pledge to keep sourcing meat from British farms after US trade deal
Giles Hurley, Aldi UK and Ireland's chief executive, said on Thursday that the supermarket will not drop food safety and welfare standards even if current regulations are watered down to secure international agreements. Meanwhile, the Co-op confirmed it remains committed to sourcing 100% British fresh and frozen meat. It comes after Tesco's chief executive Ken Murphy said the supermarket would not source beef from the US earlier this week, but would instead stick to its current policy of sourcing all meat from the UK and Ireland. Agriculture has been a key part of the preliminary trade deal struck between the UK and US last week, which sees tariffs reduced on US products including beef in return for moves that help British cars and steel. UK ministers have insisted there will be no downgrade in British food standards, which have been a significant barrier to entry for US-reared meat, including hormone-treated beef and chlorine-washed chicken. But concerns remain that the US will push the UK to accept American products with lower standards or weaken British standards to ensure closer regulatory alignment as trade talks continue. Mr Hurley said: 'British farming is known for its high welfare, food safety and environmental standards – and we know how important that is to our customers. 'That's why 100% of our everyday fresh beef, pork and poultry is sourced from British farms, and why we're guaranteeing that we won't lower our standards even if others do. 'This isn't just about food safety. It's about protecting British farmers and doing the right thing for our customers.' Aldi's policies include sourcing 100% of its core fresh beef, pork, poultry, milk and eggs from British farms, which are Red Tractor-approved. Matt Hood, Co-op's managing director, said: 'We're a long-term supporter of British farming, and was the first and, at the time, only national UK grocer to switch to 100% British fresh and frozen own brand protein including when used as ingredient in all our products, a commitment we proudly continue to stand by today. 'Farmers are the absolute backbone of the UK's food supply, so supporting UK agriculture is more important than ever for us, our member owners and customers.' On a visit to London this week, US agriculture secretary Brooke Rollins told reporters she would like to see the UK and US more aligned on food standards regulations to help remove trade barriers and open up the market to more products. The US official met with Government ministers to promote more American agricultural products, including pork, poultry, seafood, rice and specialty crops.
