Supermarket Wars: I Smell A Rat
Which of the UK's big four saw biggest growth the in the 12 weeks to April 19 compared with the same period last year?
The answer, somewhat surprisingly, is Sainsbury's according to figures from TNS Worldpanel.
Sainsbugs chipped in with growth of 8.1% during the period, eclipsing Asda with 8% and Morrison's with 7.4% in a sector that saw overall growth of 6.2%.
Tesco, Britain's largest supermarket, only managed growth of 4.6% during the period.
Food price inflation during the period was 9% say TNS. Why this should be when commodity prices at farmgate level are declining?
That's down to the weakness of the pound they helpfully explain. Except that twelve weeks prior to April 19 the pound was worth less than $1.40 against the dollar, compared to around $1.46 by the end of the period.
So it must be the weakness of the pound against the euro they mean, right? Erm, no wrong again, at the start of the period one euro was worth 94 pence, by April 19 that had fallen to around 89p.
So they're lying then, retail food prices went up during the period despite the pound improving, whilst wholesale prices fell and the supermarkets lined their pockets all behind a thin smokescreen of "we're doing our best to help the consumer during this difficult time" bollox?
Well that's one of putting it, yes!
The answer, somewhat surprisingly, is Sainsbury's according to figures from TNS Worldpanel.
Sainsbugs chipped in with growth of 8.1% during the period, eclipsing Asda with 8% and Morrison's with 7.4% in a sector that saw overall growth of 6.2%.
Tesco, Britain's largest supermarket, only managed growth of 4.6% during the period.
Food price inflation during the period was 9% say TNS. Why this should be when commodity prices at farmgate level are declining?
That's down to the weakness of the pound they helpfully explain. Except that twelve weeks prior to April 19 the pound was worth less than $1.40 against the dollar, compared to around $1.46 by the end of the period.
So it must be the weakness of the pound against the euro they mean, right? Erm, no wrong again, at the start of the period one euro was worth 94 pence, by April 19 that had fallen to around 89p.
So they're lying then, retail food prices went up during the period despite the pound improving, whilst wholesale prices fell and the supermarkets lined their pockets all behind a thin smokescreen of "we're doing our best to help the consumer during this difficult time" bollox?
Well that's one of putting it, yes!