The car park and frontage of the a store of the ASDA British supermarket chain, located in a residential area in the North of England. Taken in late afternoon after rain.

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Billions wiped from UK supermarket stocks this week as Asda gears up for a price war

Asda’s executive chairman is back after 24 years away from the firm; he seems keen to kickstart a fresh supermarket price battle.

David Crowther

3/20/25 10:42AM

For years, the big four — Tesco, Sainsbury’s, Asda, and Morrisons — dominated the UK supermarket scene. But the rise of the discounters, chiefly Lidl and Aldi, and the continued improvement of online services like Ocado have slowly turned the industry on its head.

Every little helps (the bottom line)

From milk price wars to the recent phenomenon of needing to sign up to a loyalty scheme for any of the best deals, the competition for customer loyalty has been fierce for a while. That’s arguably never been more true than it is in 2025, with billions of pounds wiped from Tesco, Sainsbury’s, and Marks & Spencer stocks this week, after Asda said it was going to invest heavily to cut prices and employ more staff across its 1,100-plus stores this year — even if it hurts its bottom line in the short term.

It takes a lot to knock 12% off the value of Tesco, the UK’s largest supermarket with ~28% market share, but that’s what the announcement did between last Thursday and Monday — a reflection of just how seriously the market is taking Asda’s price cut strategy. Per The Guardian, Asda has seen its market share drop from 15.1% to 12.6% over the past five years, and its new private equity backers and chairman Allan Leighton, who was Asda’s CEO until 2001, clearly see price cuts as a route back to growth.

For investors, that could mean another spell of intense price-cutting competition, which would squeeze margins. For consumers, it might mean a few more bargains… if you’re willing to shop around and sign up for 12 different loyalty schemes.

Max Knoblauch6/15/26

Electronic Arts launches a platform to put more ads in its games

Video game publishing giant EA launched a new platform on Monday designed to make the process of selling immersive ad space in its popular games easier.

The company says the platform, called EA Advertising, allows brands to “integrate directly into gameplay through dynamic, real-time placements, from stadium signage to custom in-game content.”

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

Electronic Arts Makes Push for Ad Dollars Tied to Sports

Millie Giles6/11/26

JM Smucker says it sold $1 billion worth of Uncrustables in FY2026

After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.

On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, the company sold $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.

Max Knoblauch6/8/26

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

Max Knoblauch6/8/26

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

Hollywood Exteriors And Landmarks - 2025

1 year into the Switch 2, we might’ve seen the top of the console market

The Switch 2 launched on this day in 2025. Amid a rough year for consoles, Nintendo has logged a good one.

Max Knoblauch6/5/26