Tesco chief resigns after turning the brand around November 27, 2019 Tesco’s chief executive Dave Lewis will leave the Big 4 retailer next summer, an announcement that sent shock waves across the industry. Tesco is currently the highest-ranking retailer in the FTSE 100 thanks to Lewis’ turnaround plan implemented shortly after his arrival in 2014. At the time Tesco was facing a crisis following the million-pound [...]
Advent International teams up with rival private equity firms to plot takeover of Pepco February 3, 2020 Private equity firm Advent International is reported to be working with Hellman & Friedman and Mid Europa Partners on a bid for Pepco Group. A takeover could value Pepco at more than €4.5bn (£3.8bn), Sky News reported. Steinhoff International is looking to sell Pepco, which includes retailer Poundland. Advent offloaded Poundland to Warburg Pincus for [...]
The CMA has officially launched a probe into the Sainsbury’s Asda merger August 23, 2018 The competition watchdog has officially launched an investigation into the proposed mega-merger between supermarkets Sainsbury's and Asda. Pricing, quality and the range of products at both businesses will come under scrutiny as the competition and markets authority (CMA) tries to determine if a tie-up will have a negative effect for UK consumers. The regulator will [...]
Sainsbury’s-Asda merger will impact competition in 463 local areas, competition watchdog warns September 27, 2018 The UK competition authority today warned the mega merger between Asda and Sainsbury's could Seriously lessen competition in 463 local areas across the country. To solve the issue, the new business may have to sell off hundreds of the overlapping stores. Last week, the Competition and Markets Authority (CMA) said its concerns around the merger were [...]
Lidl to invest £1.3bn in UK store expansion February 20, 2020 Budget supermarket Lidl has announced it will invest £1.3bn in store expansion across the UK in the next two years. The German discounter – which has opened 50 new stores in the last 12 months – said this morning that it has committed to investing in growing its store portfolio in 2021 and 2020. The [...]
UK petrol prices near £1 on global oil market slump April 7, 2020 Petrol prices around the country have hit their lowest levels since 2016 as the prospect of fuel trading for £1 a litre grows more likely amid the global slump in oil prices. According to the Department of Business, Energy, and Industrial Strategy (BEIS), petrol is currently being sold for an average of £1.10 per litre, [...]
Former Sainsbury’s boss: Halve business rates and raise VAT to save high street November 1, 2019 Jasper King, the former head of supermarket giant Sainsbury’s, has called for business rates to be halved and VAT increased to help high street retailers compete with their online rivals. Speaking to BBC Radio 4’s Today Programme, King said it was unfair that bricks and mortar retailers were forced to pay the rates when their [...]
Opinion: Supermarkets look a good bet April 20, 2020 The received wisdom at present is that UK property capital markets have pretty much gone into suspended animation in the face of the pandemic, but this certainly isn’t the case in the grocery-led sector. There are currently seven substantial supermarket transactions totalling around £205m which are either under offer or due to imminently complete. And [...]
By 2025, Greggs will look beyond vegan sausage rolls for growth March 3, 2020 Greggs will consider international expansion in the next five years to continue the strong growth it has achieved in the UK, the bakery chain said today as it reported record results for last year. Chief executive Roger Whiteside said the company had not started looking at options but it has acknowledged that global expansion may [...]
Aldi announces pay rise and recruitment drive January 21, 2020 Aldi has announced it will increase the hourly rate paid to in-store staff members and hire more than 3,800 employees this year as it pushes ahead with its UK expansion plans. The budget supermarket said all employees will earn a minimum hourly rate of £9.40, a 30p per hour increase from the previous minimum wage [...]