Three strategy pivots make Wal-Mart great investment again
Tesco sales deteriorate before Christmas
Morrisons has returned to the convenience store market just three months after selling its struggling chain of M Local shops. The grocer has opened a new convenience store called Morrisons Daily at a petrol station in Crewe, and will open four more shops as part of a trial. The Morrisons Daily stores will sell fresh and chilled food, including sandwiches, fruit and vegetables, meat, fish, ready meals and other groceries.
Lidl ups minimum wage to €600
Lidl Portugal is to raise its minimum full-time starting wage to €600 as from the beginning of next year, up 5.26% from the current €570, the supermarket said by statement on Monday. The Lidl statement pointed out that both amounts are "already above the national minimum wage" and the €530 collectively in effect for the retail sector with the raise “integrated into the strong social responsibility policy that is an integral part of the company strategy.”
Tesco sales deteriorate before Christmas
Tesco Plc’s sales continued to worsen in the run up to Christmas as the U.K.’s largest supermarket chain bore the brunt of competition from discounters Aldi and Lidl. Tesco’s sales fell 3.4 percent in the 12 weeks ended Dec. 6 as fewer shoppers visited its larger supermarkets, according to data from researcher Kantar Worldpanel. The performance was the worst in what was another bleak period for grocers, as sales grew by just 0.1 percent across the industry.
Three strategy pivots make Wal-Mart great investment again
Greg Foran, the company’s U.S. chief, was right when he recently told his deputies that Wal-Mart is facing historic challenges and millions of employees and customers are “relying on us to get this right.” For long-term investors, “this” is pivoting the chain’s strategy. Read more