Boots: ‘Lipstick effect’ boost to sales as cash-strapped shoppers help chemist post record-breaking Black Friday sales figures January 5, 2023 High street stalwart Boots saw sales jump in its stores over its Christmas trading period, as the return of tourism and office-working proved a shot in the arm for its city locations. The privately owned chemist said like-for-like retail sales leapt 8.7 per cent in its first quarter to November, marking record-breaking sales on Black [...]
Apollo and Reliance Industries join forces to make binding bid of up to £6bn for chemist Boots June 9, 2022 Private equity firm Apollo and Indian conglomerate Reliance Industries have made a binding bid for high street chemist Boots, it has been reported. According to the Financial Times, the offer values the company at between £5bn and £6bn, two sources familiar with the deal told the newspaper. US owner Walgreens Boots Alliance had been looking [...]
Soaring oil prices lead to bumper petrol profits at Britain’s biggest supermarkets February 13, 2022 Soaring oil prices have led to bumper profits on petrol sales at Britain’s biggest supermarkets, revealed fresh figures released yesterday. Profit margins on petrol sales have nearly tripled since 2019 at the big four food retailers, according to data from RAC. Margins widened to 8.6 per cent last month, up sharply from the 3.2 per [...]
Business committee writes to CMA over private equity takeover concerns July 1, 2021 A spate of recent private equity interest in the UK’s supermarkets has prompted the chair of the parliamentary business committee to question whether the competition watchdog has sharp enough teeth to deal with such bids. Over the weekend, buyout specialists Clayton, Dubilier & Rice made an unprompted £5.5bn offer for Morrisons, which rejected the bid. [...]
Cost of living crunch: Shoppers exposed to extra £380 on yearly grocery bill June 21, 2022 Shoppers are now facing an additional £380 to their annual grocery bill as grocery price inflation has hit its highest level in 13 years. According to freshly published data from insight firm Kantar, grocery price inflation hit 8.3 per cent over the past four weeks, the highest level since April 2009. It comes as all [...]
Retail chiefs to meet with Treasury amid fears of fading interest in online sales tax June 20, 2022 Top retail bosses will meet with a Treasury minister later this week with the hopes of reigniting government interest in launching an online sales tax and reforming the current rates system. According to a report by Sky News, executives from retail powerhouses including Amazon, Asda, ASOS, Currys and JustEat Takeaway, are to meet with the [...]
Cake Box on track to meet expectations as nation’s sweet tooth drives record sales November 8, 2021 Specialist dessert retailer Cake Box saw shares spike 1 per cent at the open today, as it announced group revenue surged 92 per cent in the first half of the year. The cream cake specialist said group revenue jumped 92 per cent to £16.47m in the sixth months to September 30, up from £8.59m in [...]
Boots bidders set to meet with bosses as takeover race continues March 20, 2022 Bidders for the high street chemist Boots are preparing to meet with the chain’s bosses this week as the race to takeover the firm intensifies.
Walgreens faces losing billions on Boots sale as former suitors CVC and Bain suggest lower price tag April 11, 2022 The US pharmacy giant behind Boots could lose out on billions after the chemist was valued much lower than initially hoped. Walgreens has been eyeing a £7bn sale of the UK company, however a consortium involving private equity firms CVC and Bain withdrew from takeover talks in March. According to The Telegraph, the two former [...]
Slow fashion: Retailers embrace second-hand clothing to draw in thrifty eco-conscious fashion lovers January 23, 2023 High street retailers are following in the footsteps of their online rivals, offering more second-hand clothes to lure in shoppers wanting to steer clear of fast fashion and hunt for bargains amid a cost of living crisis. The second-hand clothing market has exploded over the last decade to an estimated £6.5bn last year, largely thanks [...]