Tesco

Supermarkets witnessed a price decline in July, the third month in a row, according to a survey by the Research Institute of Retail Consumer Goods (IELKA) at large chains.

The prices of products at supermarkets fell by an average of 1.56% compared to July 2023, while 13 of the 23 categories of supermarket products recorded a decrease in prices. 

In the UK, the price of staples such as cheddar cheese, white bread and pork sausages has jumped by up to 80% in some shops over the past year, further evidence of how inflation hits the lowest incomes hardest.

Oatmeal topped the list for average price increases in the "Which?" consumer basket of staples, followed by skimmed milk and cheddar cheese.

Many British grocery stores are selling Bulgarian Easter Breads (kozunatsi), reported the travel site TravelNews. The online publication has found the traditional dessert at various outlets in Cambridge, Haverhill and London.

Britain's biggest retailer Tesco yesterday warned that soaring inflation would bite into future profit, causing its share price to slide along with those of rival supermarkets.

Tesco said underlying profit was expected to drop in its current financial year after it jumped by more than one third in 2021/22.

Retail chain owners are urging ministers to take urgent action.
Namely, 'Freedom Day' took place in England on Monday, i.e. the abolition of almost all restrictions related to the coronavirus pandemic, but at the same time the number of newly infected is growing and chaos is being created due to self-isolation application.

Sainsbury's has agreed to buy Walmart's Asda for about 7.3 billion pounds ($10 billion) to create Britain's biggest supermarket group by market share, overtaking long-standing industry leader Tesco.

Sainsbury's and Walmart's Asda are in talks to create Britain's biggest supermarket group, a combination which would surpass Tesco's grocery market share and be worth up to 15 billion pounds ($20.7 billion).

Turkey's Competition Authority has approved Migros Ticaret A.Ş.'s acquisition of 95.5 percent of the shares of Tesco Kipa, the purchaser said in a statement late on Feb. 9. 

Turkish retail chain Be?endik, which also owns Real hypermarket stores in the country, has applied for a suspension of bankruptcy, with a court deciding to appoint trustees as a measure.

Tesco's subsidiary in Turkey has decided to hang onto some of its stores instead of selling them to rival Turkish retailer Be?endik after their performance improved strongly, it said on Jan. 2.

Be?endik's chief executive said in September that the company planned to buy 10 stores from Tesco Kipa as part of expansion plans that could ultimately lead to a stock market listing.