Asda: Private equity firms race to buy majority stake March 1, 2020 Private equity firms are vying to buy a majority stake in Asda after its US owner Walmart decided to offload the supermarket following the competition watchdog’s decision to block its merger with Sainsbury’s. US buyout firm Lone Star has reportedly made an offer for a stake in the grocer, with private equity firms Apollo and [...]
Waitrose ranked best UK supermarket in annual Which survey February 22, 2020 Waitrose has been ranked as the best supermarket in the UK in an annual satisfaction survey conducted by Which. The chain, which is owned by John Lewis, hit five stars on most categories, but did come joint-last in value for money. Budget supermarkets Aldi and Lidl continue to be ranked highest in terms of value. [...]
Asda sales slump due to ‘cautious’ Christmas shoppers February 18, 2020 Asda sales slumped over the crucial festive trading period due to “cautious” consumer spending, as shoppers reined in their Christmas lists. The supermarket giant said like-for-like sales excluding petrol dropped 1.3 per cent in the three months to the end of December. The sales drop was driven by “challenging market conditions”, particularly in Asda’s clothing [...]
Christmas supermarket sales growth slows to four-year low January 7, 2020 Supermarket sales growth over the Christmas period slowed to the lowest rate in four years as shoppers watched their budgets over the festive period. Retailers reported sales of £29.3bn, up £50m on last year, however growth slumped to the lowest rate since 2015. Read more: Morrisons sales fall in ‘unusually challenging Christmas period’ Year-on-year supermarket [...]
Asda gives hundreds of employees extra week to sign new contracts before facing sack November 2, 2019 Asda will give employees an extra week to sign new employment contracts before dismissing them with the original deadline set for today. The supermarket said workers who had yet to sign the new so-called Contract 6 would be given a seven-day “cooling-off period” to change their mind before losing their jobs. Read more: Asda rejects [...]
Asda rejects request to remove sack threat for thousands over compulsory contracts October 26, 2019 Asda has rejected a last-minute request from trade unions to remove the threat of dismal for thousands of staff if they fail to sign a compulsory contract by the end of next week. The GMB union has predicted that up to 12,000 of the more than 100,000 employee affected could lose their jobs because they [...]
Asda offloads pensions in £4bn deal as it eyes stock market float October 17, 2019 Asda owner Walmart is said to have secured a deal to offload £4bn of the UK supermarket’s pension liabilities as it looks to clear the path for a potential stock market listing. Read more: Asda employees stage fresh protests over contract changes Walmart and Asda’s pension trustees have agreed a £3.8bn buy-in with specialist insurance [...]
Asda employees stage fresh protests over contract changes September 16, 2019 Asda employees are protesting across the country over the implementation of a controversial new contract. Protests will take place at nine stores today, including in Leeds, Glasgow and Nottingham, after GMB union members staged demonstrations across the country earlier this month. Read more: Asda under pressure as workers stage nationwide protests Workers have raised concerns [...]
Asda under pressure as workers stage nationwide protests over new contract September 5, 2019 Asda is set to face renewed pressure over the implementation of a controversial new contract as disgruntled employees stage protests outside stores. GMB Union members will protest at 15 Asda stores across the UK today, including three London branches, over the new flexible working arrangement. Read more: More than 150 MPs demand Asda backs down [...]
Weak Asda sales drive down Walmart’s international income August 15, 2019 Slow sales at Asda and other non-US retailers owned by Walmart have driven down the corporation’s international operating income by almost 30 per cent in the second quarter. In second quarter results released today, Walmart said that overall operating income was also down 2.9 per cent, as it lowered international sales growth guidance. Revenue was [...]