The turf wars for on-demand delivery won’t be won with a fast and dirty business model May 8, 2021 Getir, Dijia, Weezy, Zapp and Fancy. There is a handful of the new on-demand grocery delivery apps that have flooded London’s streets over the last few months. Behind each of them is a fierce turf war for customers, as they try and capitalise on the now ubiquitous presence of food delivery. The surge of grocery [...]
Retail bosses square up in £6.5bn bidding war for Asda August 21, 2020 Two veteran UK retail bosses are set to go head-to-head in a dramatic £6.5bn private equity bidding war for supermarket chain Asda. Former Debenhams chief executive Rob Templeman is said to be working with Apollo Global Management, while Paul Mason, who served as Asda boss 20 years ago, has teamed up with Lone Star Funds. [...]
Kingfisher joins supermarkets in returning business rates relief December 7, 2020 DIY retailer Kingfisher has joined a list of retailers announcing plans to repay millions in business rates relief it received at the start of the pandemic. The FTSE 100 firm has announced it will pay back £130m in tax relief, pointing to strong sales since it reopened its UK stores in April amid high demand [...]
Deliveroo taps JP Morgan as it steps up London float preparations November 3, 2020 Deliveroo is said to have appointed bankers at JP Morgan as it steps up preparations for an initial public offering in London next year. The food delivery app has added the Wall Street bank to its line-up of advisers alongside Goldman Sachs, Sky News reported. Deliveroo, which was founded in 2013 by Will Shu, is [...]
Sainsbury’s suffers Christmas sales slowdown as Black Friday hurts the supermarket January 9, 2019 Like-for-like sales at Sainsbury’s fell by 1.1 per cent over the Christmas period, the supermarket said today. Total sales excluding fuel dropped by 0.4 per cent in the 15 weeks to 5 January, while general merchandise sales fell by 2.3 per cent and clothing by 0.2 per cent. Read more: Aldi sales hit £1bn in record Christmas [...]
Waitrose pledges to keep meat and fish counters open as rivals shutter services November 11, 2020 Waitrose has this morning pledged to keep its meat, fish and deli counters open, taking on the supermarkets that have shuttered the services to cut costs amid falling demand. The up-market grocer said it is committed to the long-term future of its food service counters, and is planning to expand its meat and fish range [...]
UK dividends won’t recover until 2025 at the earliest after bruising year January 20, 2021 UK dividends are unlikely to recover until 2025 at the earliest after a catastrophic year for payouts amid the pandemic. Eight years of growth wiped off UK dividends last year as companies started to make cuts at the beginning of the second quarter following the outbreak of coronavirus. Payouts fell 44 per cent to £61.9bn [...]
Aldi launches first click and collect trial September 14, 2020 Aldi has launched its first click and collect trial as the budget supermarket seeks to attract new customers amid rising demand for online shopping. The German discounter is running the trial for Aldi employees from a store in the Midlands and is planning to extend the service to customers in the coming weeks. If the [...]
Coronavirus: Supermarkets ramp up online services amid second wave fears September 28, 2020 Supermarkets are ramping up their online delivery services amid fears over a second wave of coronavirus, after demand outpaced capacity during the UK-wide lockdown this summer. Demand for home deliveries has recently spiked again over concerns that the government will impose stricter lockdown rules as coronavirus cases have surged. It was reported today that London [...]
Corona Impact Series: How an EV charging company in Shoreditch was powered up by a policy change mid-pandemic February 5, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. This week: How an electric vehicle charging startup in East London was made future-proof by government policies that were introduced at the height of the pandemic. “When the first [...]