Supreme becomes ‘master distributor’ for top vape brands as shares spike July 5, 2023 Supreme shares are up five per cent today as the vaping giant announced it is now the “master distributor” for UK e-cigarette brands, although the company has reported weak annual profits. The firm has been chosen as the master distributor for two leading UK vaping brands, ElfBar and Lost Mary, which it will supply to [...]
McColl’s appeals for rescue deal: Administration ‘increasingly likely’ unless solution can be found May 5, 2022 Convenience store giant McColl’s has said it is “increasingly likely” it will be forced to call in administrators unless an immediate rescue deal can be cinched. Responding to press speculation, the London-listed firm said that “unless an alternative solution can be agreed in the short term, it is increasingly likely that the group would be [...]
McColl’s boss steps down after six years at the helm amid rescue talks March 24, 2022 The chief of beleaguered convenience store chain McColl’s has quit as the business faces an existential crisis. The chain has been in talks with lenders over emergency cash, as it hopes to find a buyer to secure its future. After three decades with the chain and six years in leadership, Jonathan Miller has quit the [...]
Supermarket fuel margins more than double since Ukraine war July 22, 2023 Supermarkets have more than doubled their margins on fuel since the start of the war in Ukraine, new analysis suggests. The RAC said Asda, Tesco, Morrisons and Sainsbury’s were making an average of around 4.7p per litre on fuel sales when the Russian invasion began in February 2022. The motoring services company found this had [...]
RAC calls on Big Four supermarkets to pass on savings to customers September 21, 2022 Motoring group RAC has accused the Big Four supermarkets of failing to pass on drops in wholesale costs to drivers.
Tesco invests further £14m into egg industry as avian flu sparks rationing November 26, 2022 Tesco is leading the charge in supporting egg suppliers, as British supermarkets begin rationing egg sales amid an outbreak of avian flu. Egg farmers in the UK have been wrestling with an outbreak of avian flu, on top of soaring inflation which has ramped up the price of feed and energy. Tesco has set aside [...]
Shapps to ask supermarkets to ‘explain themselves’ over pump price hikes July 16, 2023 Supermarket bosses are set for showdown talks with the government next week over soaring prices at the pumps. Energy Secretary Grant Shapps will meet with chiefs from Asda, Sainsbury’s, Morrisons and Tesco, with the minister vowing to slam “the brakes down on the mistreatment of motorists.” In a column in The Sun, Shapps said he [...]
Hostelworld bookings continue to drag behind pre-pandemic levels October 12, 2022 Hostelworld said despite the continuing recovery of Asia and Oceania, bookings were still dragging behind pre-pandemic levels. In a trading update, the travel firm said September reached 83 per cent of 2019 levels, which was up from 43 per cent in June. However, net revenue last month reached 104 per cent of 2019 levels, reflecting [...]
McColl’s warns of ‘softer’ trading as newsagent continues rescue talks April 25, 2022 McColl’s has acknowledged “softer trading” as customers hold back on spending while the chain continues to try secure a financial lifeline from partners. Shares tumbled some 50 per cent in early trading on Monday morning, after the retail firm gave an update on its rescue deal talks. In a trading update on Monday, the convenience [...]
The City View: Victoria Scholar on uneasy European markets and US dollar high May 10, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through the rebound by European markets today after yesterday’s sell-off, the US dollar’s 20-year high, McColl’s purchase by Morrisons, and Heathrow’s strong results. Andy also talks to City A.M. reporter Charlie Conchie — they unpick the Queen’s Speech, going through [...]