Price cuts no quick cure for Tesco's ills
Winning back market share will take years, analysts say, citing slowing grocery market and price war
London
CHEAPER meat and vegetables should draw shoppers back into Tesco stores but it will take time for the new boss of Britain's biggest grocer to win back market share.
Customers seeking to save money in a sluggish economy have turned away from the market leader to discounters such as Aldi and Lidl, igniting a price war in British grocery shopping and contributing to a series of Tesco profit warnings.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Wall Street Journal moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO