Morrisons: Amazon Fresh deal could be key factor in takeover battle of the summer July 5, 2021 Morrisons’ supply deal with Amazon could be a major factor in what is shaping up to be the biggest takeover battle of the summer, with the scale and scope of Amazon offering bidders a unique chance to be part of what could be a major market upset. This morning Morrisons share price rocketed more than [...]
Private equity interest: Why is Morrisons such an attractive takeover target? June 21, 2021 Morrisons has rejected a £5.5bn takeover approach from a US private equity firm amid speculation that more UK supermarkets could be snapped up. Shares in Morrisons jumped earlier this morning following confirmation of the rejection at the weekend, as the chain said potential bidder Clayton, Dubilier & Rice “significantly undervalued” the grocer with its 230p-per-share [...]
Demand for vaping and vitamins sees Supreme revenues soar May 4, 2021 Manchester-based importer and manufacturer Supreme expects revenues to jump to £121m in the full year to March amid demand for its vaping and sports nutrition products. The Aim-listed company distributes to major discount retailers, grocers and wholesalers in a number of categories including vaping, nutrition, lighting, household and vitamins. Supreme began trading in London in [...]
Bricks and mortar retailers ramp up hiring plans ahead of reopening April 8, 2021 Bricks and mortar retailers that have managed to survive, and in some cases thrive, during the pandemic have begun ramping up hiring plans ahead of the reopening date. According to the latest research, retail vacancies have climbed to within 14 per cent of their pre-Covid levels, after falling as much as 65 per cent last year. [...]
McColl’s fails to return to to profit despite bumper convenience store sales during pandemic March 23, 2021 McColl’s reported a jump in revenue last year as the convenience store chain benefitted from a surge in demand for local stores during the pandemic, but failed to return to profit. Total revenue for the year was up 3.2 per cent to £1.26bn, with its store closure programme partly offsetting the surge in sales. Like-for-like [...]
Morrisons forecast to report £300m Covid-related costs in full-year results March 5, 2021 Morrisons is expected to report coronavirus-related costs of almost £300m in its full-year results next week due to the impact of the third Covid-19 lockdown. In a note to investors, analysts at Shore Capital Markets estimated that the current national lockdown will have elevated operating costs around absenteeism and temporary workers, as well as mounting [...]
300 McColl’s convenience stores to be converted into Morrisons Daily’s March 1, 2021 300 McColl’s convenience stores are set to be converted into Morissons Daily’s over the next three years, as the companies’ said this morning they have extended their wholesale supply partnership. The upcoming rollout follows over 30 conversions in recent months, with all stores continuing to be owned and operated by McColl’s. Offering the Morrisons [...]
Convenience store chain McColl’s swings to loss despite coronavirus spike in demand August 6, 2020 Convenience store chain McColl’s swung to a loss in the first half of the year despite a surge in demand during the coronavirus lockdown. The figures McColl’s reported a loss before tax of £1.3m in the 26 weeks ended 24 May, down from profit of £200,000 last year. McColl’s total revenue fell one per cent [...]
McColl’s hires ex-Casual Dining Group finance chief May 28, 2020 Convenience store chain McColl’s has hired former Casual Dining Group finance chief Giles David, the retailer announced this morning. David will join the company as chief financial officer on 1 June, after leaving Casual Dining Group, which owns Bella Italia, Las Iguanas and Cafe Rouge, last year. McColl’s also announced this morning that chief commercial [...]
McColl’s finance chief departs for Holland & Barrett May 6, 2020 The chief financial officer of McColl’s Retail Group will step down to join health food retailer Holland & Barrett, the convenience store chain announced this morning. McColl’s said Robbie Bell had resigned to take up the finance chief role at Holland & Barrett. The company has launched a search for a successor, saying Bell will [...]