Tesco pulls Unilever goods from website
Move follows disagreement over Unilever's bid to raise prices due to pound's slump
London
TESCO, Britain's biggest grocery chain, has pulled dozens of Unilever brand products from its website after a disagreement over prices in the wake of a partly Brexit-driven slump in the British currency.
The dispute between two of Britain's best-known companies shows how the UK's decision to quit the European Union has exacerbated tensions between suppliers and retailers, which are battling for profits as consumers are increasingly savvy about their shopping.
Unilever has been trying to raise the prices it charges Britain's big four supermarkets - Tesco, Sainsbury's, Asda and Morrisons - across a wide range of goods by about 10 per cent, saying it needs to offset the higher cost of imported commodities, two people with knowledg…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Sony deal for Paramount would draw added regulatory scrutiny
Lululemon to shutter Washington distribution center, lay off 128 employees
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
P&G raises annual core profit forecast on resilient demand, price hikes
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom