Dieter Schwarz controls the Schwarz Group, the largest closely held
discount grocer in Europe, which operates the Lidl and Kaufland
supermarket chains. He controls the companies through the Dieter Schwarz Stiftung, a limited liability company with a charitable purpose. The group has more than 10,000 stores in Europe and generated $83 billion in 2011 sales.
J Sainsbury Plc stuck to a forecast that same-store sales growth will resume this year as it fends off the discounters and competitors’ price cuts by focusing on fresh produce and premium own-brand food.
Tesco Plc Chief Executive Officer Philip Clarke needs another 18 months to turn around the U.K. grocery leader, one of its biggest shareholders said, days after the CEO reported the worst sales growth in 40 years and others called for a change to leadership.
J Sainsbury Plc’s outgoing Chief Executive Officer Justin King became the only head of a listed U.K. supermarket group to get a bonus this year as the industry reels from the shakeout caused by discounters Aldi and Lidl.
Tesco Plc Chief Executive Officer Philip Clarke said he’s not ready to pledge an improvement in sales growth after the U.K.’s largest grocer reported the steepest decline in domestic revenue since he first stocked shelves as a schoolboy four decades ago.
Tesco Plc’s three-month sales and market share fell the most in at least two decades, according to research published today, adding to investor concern ahead of tomorrow’s quarterly report from the U.K. grocery leader.
On a recent Saturday afternoon at a Lidl supermarket in London, a 500-gram slab of minced beef was on sale for 2 pounds ($3.21), half the price of the same product at a Sainsbury Local store a few blocks away.
Tesco Plc Chief Executive Officer Philip Clarke and other top managers will miss out on their annual bonuses for a second year running after failing to reverse falling profit at Britain’s largest grocer.
A price war slashing the cost of products from broccoli to baby wipes is threatening the credit ratings of U.K. supermarkets as they battle to woo back customers from German discount chains Aldi and Lidl.