Latest Asda news
Tesco has taken a bit of a battering in recent months, with profits slipping and then the little matter of the £250 million profit overstatement. But although Tesco is in the spotlight, there are issues for all of the major retailers right now, as the discounters go from strength to strength and the Big Four’s choke hold on the market weakens. Harpers.co.uk spoke to some of the wine trade’s key suppliers and ex-buyers to find out their views.
A host of leading Tesco wine suppliers have said they are not surprised by the supermarket’s £250 million accounting black hole – but say suppliers must “push back” harder against buyer demands.
Sainsbury’s is to start comparing and benchmarking its pricing levels against Asda rather than Tesco as it looks to switch to a new mid-low pricing strategy following a fall in sales for the third quarter in a row.