Local shops axe jobs and cut investment amid surging costs Retail UK convenience stores have cuts 2,000 jobs over an “extremely challenging year” after coming under pressure from soaring labour costs and fierce competition from supermarkets. The Association of Convenience Stores (ACS) warned that pessimistic consumers and increased costs for retailers are therefore putting the UK’s 50,000 local shops under pressure, resulting in weaker investment and [...]
Convenience stores issued £634m warning ahead of Budget hospitality A lobby group has warned convenience stores could be set for a huge bill next year as tax hikes are expected to be included in the Autumn Budget. The Association of Convenience Stores has said the sector will face a potential bill of £634m due to wage increases, plus changes to National Insurance contributions and [...]
Why are convenience stores all the rage? Business Earlier this week, Waitrose became the latest UK grocer to announce a big push into the convenience store market. The supermarket giant will open 100 stores in the next five years as part of a $1bn investment plan. Waitrose follows Asda, Morrisons (with its McColl’s estate), Tesco, Sainsbury’s and the Co-op in ploughing ahead with [...]