‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Supermarket bosses meet Rachel Reeves amid dire food inflation warning Retail The bosses of some of the UK’s biggest supermarkets met Chancellor Rachel Reeves in emergency cost of living talks on Wednesday, amid warnings that food inflation could rise to double digits this year. Leading supermarkets including Tesco, Sainsbury’s and Morrisons attended Downing Street after efforts to gather industry bosses last week were abandoned amid concerns [...]
Asda boss says ‘plenty to do’ in turnaround after sales drop Retail 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 Retail 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 [...]
Asda boss slams tax hikes: ‘Businesses have to be allowed to invest’ August 28, 2025 Asda chair Allan Leighton has warned that the Government must change the way it thinks about growth or risk a stagnating economy. Ahead of Asda’s quarterly results – where the grocer reported its fourth consecutive quarter of improving like-for-like sales – Leighton said that the company has a “simple philosophy… if you want growth, you [...]
Is Asda’s ambitious turnaround starting to bear fruit? May 29, 2025 Asda has had a tumultuous year and a half. Since January 2024, the supermarket giant has undergone numerous leadership changes, IT issues, and sales woes. Its troubles began back in 2021, when it was bought in a debt-fuelled takeover by the billionaire Issa brothers – who have since departed the board – and private equity firm [...]
Asda ‘making good progress’ despite sales continuing to fall May 29, 2025 The chairman of Asda has said the supermarket giant is “making good progress” despite its sales continuing to fall. The Leeds-headquartered chain has reported a revenue – excluding fuel – of £5bn for the three months to 31 March, 2025, the first quarter of its financial year. The total is a 5.9 per cent decrease [...]
Asda: ‘It’s going to take time to rebuild’ says new boss March 14, 2025 UK supermarket giant Asda has dominated headlines for the last year for a host of different reasons: turmoil at the top, declining market share and issues with a significant IT upgrade. The grocer’s market share fell 5.8 per cent between December 2023 and 2024, while the market share of all other major UK supermarkets grew. [...]
Asda needs to ‘dig down into its soul’ and recover sense of purpose, say analysts December 9, 2024 Asda needs to “dig down into its soul” and reshape its pitch to customers if it wants to tackle the rising threat from the likes of Aldi and Lidl following a rollercoaster 2024, analysts have warned. The Leeds-headquartered supermarket giant has not been far from the headlines all year amid debt struggles, strikes, falling sales [...]
Asda brings back industry veteran Leighton as chair November 23, 2024 Asda brought back retail industry veteran Allan Leighton as its executive chair on Saturday, replacing Stuart Rose at Britain’s third largest supermarket. Rose will remain on the board to ensure an orderly transition before stepping down, the company, majority owned by private equity firm TDR Capital, said in a statement. In addition to holding the [...]