Tesco Ireland’s Post

Americana Restaurants International reported a 44.8% drop in net profit to $80 million for the first half of 2024, with revenues falling 15.2% to $1.05 billion. The revenue decline was attributed to reduced like-for-like sales due to regional geopolitical issues, including a significant boycott affecting the company's operations, despite new store openings. In Q2 2024, revenue decreased by 14.2% year-over-year but grew by 13.3% compared to Q1 2024, driven by market recovery and Eid events. Net profit declined 40.1% from Q2 2023 but rose 85.3% from Q1 2024. The company opened 81 new stores in the first half of 2024, bringing its total to 2,477. It aims to expand cautiously for the rest of the year by adding 175 to 185 new locations.

It’s not all about price and scale. JLP will never be the cheapest so will have to be better and different. #strategy There’s millions who love quality, personal attention, experience , service etc. Nothing you will find buying at Tesco. JLP is a cooperative with cooperative values, these values need to be turned into strategy. #retail #price #quality #differentiation #transformation

Myer, the Australian retailer, has experienced a notable surge, reaching an 11-month high in its stock performance. The retailer announced forecast interim sales of A$1.83 billion, surpassing market fears and propelling its shares up by 17.3% to A$0.78, a clear indication of its financial resilience and market confidence. Despite a challenging retail landscape, Myer's impressive performance suggests resilience and effective navigation of industry difficulties. Follow Outback Briefs to stay up to date with Australian Business News! #australia #australianews #businessnews #myer #myerstock #retail

Many of us have grown up with the 'Big 4' being permanent and unchallenged. Most people will now know that Morrisons has been knocked out of this traditional group, but to also see Lidl close to moving in to this previously unshakeable pack is also a further big change. Furthermore, could Asda be moved into 4th with it's ongoing decline or will the resurgence now start with Stuart Rose taking the helm? Could we soon see Tesco, Sainsburys, Aldi and Lidl as the new BIG 4?? I have to say...based on my own observations...Asda has completely lost its way and has a clear identity crisis- previously known as the cheapest, now known as what? Remember Asda clearly strategised for 2nd biggest grocer only a few years ago! The ongoing rise of Sainsburys is an interesting tale, considering it was traditionally known as the more expensive option...but gains market share in the middle of a cost of living crisis. What drives this? One final point...is the customer view of standards no longer important- is it all about price nowadays? Aldi & Lidl gain market share but don't have the traditional standards expected of a grocer...but do customers really care?? Will be interesting to see what happens over the next few years in terms of market share!! Let me know your thoughts!!

Loads in the press recently regarding Asda. Not much of it is positive. However, there are some incredible people in my network that have joined, or remained in, the business - these people have incredible track records in driving and delivering exceptional technological, operational and people oriented change that is capable of propelling the business forwards. It’s worth noting that Asda have absolutely lost some incredible talent of late. Some really key people to the business… But they have also done some great work regarding talent acquisition and talent retention. What I think is KEY to Asda’s future success is the appointment of an inspirational, transformation and turnaround focussed leader, who can build cohesion between the executive leadership team(s), and an effective and consistent communication channel that inspires and informs the wider business - from top to bottom. As well as building a strategy that sees the customer being of paramount importance. The core, central strategic cog. A short-term leader is great, who can initiate change and foster motivation and a sense of togetherness internally. But a longer term leader who has successfully lead similar transformation and turnaround efforts is critical. A new strategic direction, and a clear roadmap is also essential! The technology transformation, that’s come off the back of the separation from Walmart, needs to be turned around and sped up - but the talent is absolutely there to deliver this, so long as there is a clear strategic vision and consistent, inspiring communication from top down, with open ears to ideas and current feelings from bottom up. Some modernisation is needed across areas like clothing, home and household - sure. But getting to grips with pricing, loyalty and promotions across the grocery business should help with driving footfall and traffic to the brand, across their various channels and store-types, to increase profits and revenues, closer to those of past times. This is a perfect case of transforming the business with the customer being the priority. Modernised technology solutions will help, but not for technologies sake. A strong strategy and direction needs to be devised, with internal customers buy-in being key. Technology will be a strong enabler to create the customer journey and experience, and to improve the experience of the internal customers, but people and processes are more important - especially in this case! Massively exciting to watch from the outside, and I really hope Asda can turn this around!

🛍️🏬 A Decade and a Half After Woolworths: The High Street's Surprising Resilience! According to Glynn Davis, CannyInsights.com's #Woolies15 report reveals a hopeful tale. 83% of former Woolworths stores remain bustling with activity, showcasing retail's adaptability. From Poundland's dynamic moves to the rise of diverse high street uses - leisure, housing, healthcare - our high streets are evolving into vibrant community hubs. https://lnkd.in/gW54wUEE #RetailRevival #HighStreetEvolution

"During an interesting chat over coffee this morning with my 'table of knowledge' buddies in Grafton, it was mentioned that Fresh and Save is set to take over the Coles store in our major shopping center. Coles currently has three stores in Grafton, and this particular location has been a bit of a white elephant for almost the entire ten years I've lived here. It makes me wonder if Coles is shifting focus, letting go of a store they've been propping up to keep their hold on the market. I’m not too familiar with Fresh and Save, but if they do set up in the shopping center alongside Woolworths, it could bring a significant change to the retail landscape here. From my perspective, this seems like a prime opportunity for Fresh and Save to expand beyond their Queensland base. Does anyone know who supplies most of their groceries? Grafton could be in for some interesting times with two Coles, two Woolworths, and Aldi competing." As for Fresh and Save, they are a growing grocery chain that’s been expanding primarily in Queensland. They focus on providing competitive prices, especially in fresh produce, similar to Aldi but without the same strong private label presence. Fresh and Save operates with a model that includes bulk buying and direct sourcing from suppliers to offer discounts to consumers. While they haven't yet expanded much beyond Queensland, this could be a strategic move to test other markets. It will indeed be interesting to see how the competition plays out in Grafton! #retail#competition#freshfoods#discounts#bulkbuys

Interesting summary

What happened in retail this week? 👇 - Iceland Foods were named the best UK supermarket to work for by The Sunday Times. - Poundland & Dealz announced its plans to reduce operational carbon by the end of 2024. - Aldi UK to up its sustainability efforts with innovations such as cardboard wine bottles and double toilet rolls. - Asda launched a “Support UK” page on its website to showcase its produce sourced from UK farms. - Marks and Spencer chairman, Archie Norman, proclaimed that police aren’t interested in tackling shoplifting as retail crime continues to grow. - Lidl GB revamped its loyalty app, introducing new weekly rotating discounts for users. - Tesco Clubcard undercuts Asda as the cheapest retailer this week. - Asda unveiled transformational plans for its 10-acre London store including a new town centre, 60,000 sq ft Asda superstore and 1,500 new homes. - Waitrose & Partners is set to open its first in-store Gail’s Bakery next month in a move aimed at enhancing its customer experience. — — — — — — — I post the biggest stories from the UK’s biggest retailers each week. Connect with me to never miss a weekly update. #Retail #News #May 

First it was #tesco, then #sainsburys. In January #asda joined the fray, and now it's #morrisons! Now, all four of the UK's biggest supermarkets have their own #discounter price match schemes, with Morrisons this morning launching their "Aldi & Lidl Price Match Scheme" featuring 192 products "price matched to Aldi and Lidl, whichever is cheaper". (Same strap-line and very similar graphics to arch rival, Asda). As with Asda, Morrisons have chosen predominantly #privatelabel products to match, along with some Warburtons bakery items. Asda's Price Match scheme features around 300 products, whilst Tesco's scheme (just matching to #aldi) has over 600 (featuring many #brands as well as own label). Sainsbury's scheme, also matching just to Aldi, now features over 500 products across brands and own label. Morrisons' 192 therefore seems a little thin in numbers. I've always said that such schemes take up huge resource at the retailers concerned - having to monitor the competitors' prices and specifications on a daily basis to ensure that the Price Match products are a fair comparison. Morrisons have included a lot of their value-tier own label "Savers" in their Price Match - I can already see that the specification of their Pork Pies is not the same as Aldi's, and Aldi are actually cheaper! (See slide). And Aldi have just reduced the retail price of their Crunchy Peanut Butter from £1.25 to £1.09 (probably because Tesco and Sainsbury's reduced their equivalent to £1.25 recently) - now making Morrisons' "Price Match" product more expensive. Oh, and Aldi's specification has 4% more peanuts in it.... Maybe originality is what is needed from the supermarkets right now - not just copycatting. #ukretail #competition #lidl #pricematch #supermarkets #waitrose #marksandspencer #coop #iceland