Asda completes £611m swoop for Co-op’s petrol business October 31, 2022 Asda has completed a £600m deal to buy the Co-op’s petrol business Asda this morning. The deal includes 129 petrol forecourt sites, spread across the UK and represents five per cent of Co-op’s retail estate of 2,564 stores. Co-op said it would use the proceeds to reinvest in the convenience business and reduce net [...]
Asda to open Express convenience stores in bid to gain market share October 18, 2022 Asda will open its first convenience stores this winter, as the supermarket hopes to appeal to more shoppers on the go. The first Asda Express store will open in Sutton Coldfield next month, followed by a store in Tottenham Hale in December. Some 30 more stores will be rolled out across 2023, in a scheme [...]
Shoppers face £643 increase to yearly grocery bill October 11, 2022 Shoppers are facing an additional £643 jump in their annual grocery bill as grocery price inflation breaks another record. According to freshly published data from Kantar, grocery inflation sits at 13.9 per cent, the highest level since the data firm started tracking prices in the 2008 financial crisis. The average household’s annual grocery bill is [...]
City Moves: Who’s switching jobs in the Square Mile? October 7, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Atrato Alternatives asset management and advisory group Atrato has poached its latest director from abrdn to help oversee the supermarket investment fund management team. Ollie Mottram, who most recently held the position of transactions maager at abrdn, [...]
Revealed: These are Britain’s most popular companies to work for September 21, 2022 New research has revealed the top companies Brits want to work for the most. The data shared with City A.M. analysed the top searches for jobs and careers on Google, to see which private sector companies Brits are keenest to work for currently. Tesco came out as the most popular company, with the multinational supermarket seeing [...]
Issa brothers’ EG Group posts subdued profit due to cost of living pressures on consumers September 1, 2022 The Issa brothers’ EG Group has posted subdued profit for the second quarter, as the petrol station forecourt operator said “the cost-of-living squeeze remains front of mind for all of us.” EG Group saw group EBITDA slump 6.5 per cent to $355m (£308m), for the three months to 30 June, it shared on Thursday. The [...]
Fuel be surprised: Co-op sells petrol business to rival Asda for £600m August 31, 2022 The Co-operative Group (Co-op) has announced it will sell the company's petrol forecourt business to Asda in a £600m deal.
Asda eyes up Co-op’s petrol business in £450m bid August 29, 2022 Asda is the front-runner to buy approximately 130 petrol stations and convenience stores from the Co-op Group’s petrol forecourt business in a £450m swoop.
Asda chair slams Boris Johnson for not being ‘in charge’ as UK flounders amid cost of living crisis August 17, 2022 Boris Johnson has been lambasted by Asda boss Stuart Rose for being on “shore leave” as the UK faces economic turmoil. The supermarket chairman has criticised the Prime Minister for treating his last few weeks in the job as “one big party,” while the country is in the throes of a cost of living crisis. [...]
Asda, Boots and Primark among retailers urging officials to prioritise crime against shop staff August 11, 2022 High street staples including Tesco, Aldi and Primark have signed a letter urging police commissioners to prioritise tackling crimes against shop staff. Some 105 retailers have written to police and crime commissioners in England and Wales, calling for more help with increasing violence and anti-social behaviour towards workers. Reports of abuse towards shop staff have [...]