Asda in ‘foothills of recovery’ as grocer returns to growth Retail Asda has posted sales growth for the first time in more than two years, marking a “major milestone” in the turnaround led by Allan Leighton on his comeback at the grocer. The discount supermarket saw like-for-like sales excluding fuel grow by 0.2 per cent in the seven weeks to mid-August. Like-for-like food sales jumped by [...]
Asda turnaround king Allan Leighton hopes for summer boost Retail Allan Leighton, the turnaround expert charged with leading Asda’s resurgence, has been known for his showmanship. During his first stint at Asda in the 90s, he kicked off an annual managers’ conference by revving into the auditorium on a Harley-Davidson motorbike. It was this reputation for bold, eye-catching leadership which prompted struggling discount retailer Asda [...]
Asda credit card firm Jaja faces 15 per cent loan interest as debt pile swells Fintech The company behind the Asda credit card has added to its debt pile after posting a widening loss. Jaja Finance, which operates the supermarket’s card alongside its own credit card services, has drawn down nearly £50m from a debt facility since March, for which it pays an eye-watering 15 per cent annual interest rate. That’s [...]
UK’s biggest pub firm probed over treatment of tenants July 15, 2026 The UK’s biggest pub landlord is being probed by the industry watchdog over concerns that it is mistreating its tenants. Stonegate, whose 4,500 UK sites include the Cannick Taps on Cannon Street and the Cheshire Cheese on Tower Hill, is facing an investigation from the Pubs Code Adjudicator (PCA). The watchdog said it had “reasonable [...]
Coca-Cola brings in restructuring lineup over failed Costa sale June 22, 2026 US beverage giant Coca-Cola has called in a team of restructuring experts to advise on the failed sale of high street drinks retailer Costa Coffee last year. Consultancy firms Alvarez & Marsal and Alix Partners, which both have prominent City presences, are reportedly advising the coffee chain after an attempt to sell it off was [...]
David Lloyd gyms limbers up for £4bn London float June 22, 2026 The owner of David Lloyd gyms is considering a £4bn London listing in what would be a major boost for the capital’s stock exchange. TDR Capital, which also owns Asda, is eyeing up the initial public offering (IPO) despite a dearth of high-profile listings in recent years, City AM understands. The private equity firm snapped [...]
Ocado shares rocket after striking Asda home deliveries deal May 29, 2026 Supermarket giant Asda has struck a deal with Ocado for the grocery technology company to take over all home deliveries from next year, as it looks to completely overhaul its online shopping business. Ocado will “quickly replace and upgrade” Asda’s existing e-commerce structure, taking control of the supermarket’s delivery operations form stores and warehouses from [...]
Blackstone, Saudi wealth fund collect £4m dividends from four Morrisons stores May 4, 2026 Private equity firm Blackstone and the Saudi sovereign wealth fund have handed themselves £4m in dividends from their ownership of four Morrisons supermarket buildings. The pair acquired the sites – in Maldon, Stockport, Harrogate and Newcastle – for £110m in 2023 as part of a sale and leaseback arrangement which saw the supermarket chain sell [...]
Asda boss says ‘plenty to do’ in turnaround after sales drop March 27, 2026 The boss of Asda has said he has “plenty to do” to complete his turnaround of the firm after sales and earnings slumped. The supermarket giant, the UK’s third largest, took £21bn of sales excluding fuel in 2025, down by 3.3 per cent, while adjusted earnings tumbled by a third to £764m. Asda’s executive chair [...]
Asda boss: Government ‘more and more difficult’ to deal with March 4, 2026 The boss of supermarket chain Asda has said the government has become “more and more difficult” to deal with, claiming the pressures on business posed by policy have ballooned since he began his career. Allan Leighton, Asda’s chair, said businesses are increasingly facing obstacles to growth which are “not of their own making”. At Tuesday’s [...]