Supermarket sales grew at their fastest rate since June 2014 in the last 12 weeks March 7, 2017 Supermarket sales were growing at their fastest rate since June 2014 over the past three months as inflation started to bump up prices for key items such as tea, butter and fish. According to data from Kantar Worldpanel, supermarket sales grew by 2.3 per cent year-on-year for the 12 weeks ending 26 February. Kantar said [...]
Boots cuts 220 photo labs putting 400 jobs at risk March 1, 2017 Boots has announced it is closing 220 of its photo labs across the UK, including five in London, as weak demand for photo film services finally takes its toll. The closure of the in-store labs will put 400 jobs at risk, although a Boots spokesperson said the company would try to offer retraining and opportunities [...]
Asda, Morrisons, Sainsbury’s and Tesco are cutting petrol and diesel prices across the UK by up to 2p March 14, 2017 Asda and Morrisons announced yesterday that they are cutting fuel prices by up to 2p a litre across the country, and now Tesco and Sainsbury's are following suit. This will bring unleaded fuel to a new national price cap of 114.7p per litre at Asda's 301 filling stations, while diesel will cost consumers 116.7p per litre. “Over half our forecourts have already reduced the price of [...]
Foreign takeovers in the UK hit record levels last year as Megabrew and BG-Shell deals completed March 7, 2017 Foreign takeovers of British companies reached record levels last year as mega-deals announced during 2015 were tied up. In 2016, the Office for National Statistics (ONS) tracked 227 foreign takeovers, the highest annual number since 2011, worth £187.4bn, the highest total value since records began in 1969. These figures were boosted by AB InBev’s £79bn [...]
Why Great Britain’s inspirational Paralympians offer a unique and economic sponsorship proposition March 14, 2017 This month marks a year before the start of the 2018 Paralympic Winter Games in PyeongChang and expectations for Great Britain's performance in South Korea are high following our most successful ever summer and winter Paralympics. In Rio last year, we won 147 medals, coming second in the medal table. In Sochi in 2014, we topped [...]
How Argos will help Sainsbury’s rival Amazon after Home Retail Group deal February 2, 2016 Sainsbury’s purchase of Home Retail Group has been everywhere, but only half the story is being told. Arguably the most important half of the picture is what’s being missed. The real impact will not be solely in-store, but the online, logistical and fulfilment capabilities it unlocks for Sainsbury’s. It could well be what drags the [...]
Ultimate Products’ London IPO has been priced at £105m ahead of it joining the main market next week March 1, 2017 Ultimate Products' offer price has been set at 128p, which will equate to a market capitalisation of approximately £105.2m. The offer comprises 41,084,800 shares, representing 50 per cent of the company’s issued share capital on admission. Shore Capital is acting as sponsor, global co-ordinator and bookrunner to the Company, and Cenkos is acting as joint bookrunner. [...]
Sainsbury’s set for £1.3bn Argos deal: Supermarket and Home Retail Group could announce agreement today February 1, 2016 Sainsbury's is close to clinching a £1.3bn deal to buy Home Retail Group after improving its offer ahead of today’s deadline. The supermarket chain made an initial bid of around £1bn for the Argos owner in November, saying a combination of the two businesses would create a retail empire to rival John Lewis and Amazon. [...]
More sterling weakness pushes FTSE 100 above 7,300 for first time ever as it approaches all-time record run January 11, 2017 The pound dropped to its lowest since the October flash crash as the FTSE 100 closed in on its longest winning run since the index started 33 years ago. The pound fell as low as $1.2052 in mid-afternoon trading, pushing the FTSE 100 over 7,300 for the first time. London’s blue chip index has increased for 11 [...]
Torrential rain in Spain means spinach shortage and blow to Popeye wannabees January 13, 2017 New Year gym-goers aiming to build up a Popeye-like physique have been dealt a major blow. Torrential rain in Spain has damaged this winter’s spinach crop, and supermarkets are struggling to feed consumer demand. Read more: Manufacturing giant Premier Foods considers price rises due to Brexit vote Waitrose supermarkets, for instance, have signs warning shoppers [...]