Day Headlines in Shopping news: 2015-01-18

  • Supermarkets in Europe: Halting the discounters' march (The Economist Online Shopping 2015-01-18 15:45:07)
    Print sectionUK Only Article: standard articleFly Title: Supermarkets in EuropeByline: C.R. and M.S.Location: LONDON AND PARISMain image: 20150117_wbp504.jpgOVER the past year, Aldi and Lidl, two discount supermarkets from Germany, have continued their march around Europe. From Britain and Ireland to Italy and Spain, they have continued to gobble up market share from incumbent supermarket chains. In Britain, they have given the big four local chains—Asda, Morrisons, Tesco and Sainsbury's—a particularly rough time. All four have now reported falling like-for-like sales over the Christmas period. Tesco is in such as mess that its debt was downgraded to junk earlier this month by Moody’s, a ratings agency. And on January 13th, the chief executive of Morrisons, Dalton Philips, was fired for failing to turn the business around after five years at the helm. In stark contrast, sales this year at Aldi and Lidl grew by 22.6% and 15.1% respectively, according to new figures ...