Asda takeover completes as Issa brothers split made official November 1, 2024 Asda is now under the majority control of private equity giant TDR Capital after billionaire Zuber Issa sold his shares in the supermarket giant. Funds managed by TDR Capital now hold a 67.5 per cent stake in the Leeds-headquartered company while Zuber’s brother Mohsin Issa retains his 22.5 per cent holding. A further 10 per [...]
Booths: ‘Waitrose of the North’ slashed loss thanks to record sales October 1, 2024 High-end supermarket chain Booths slashed its loss as sales passed £300m for the first time in its history. The Lancashire-headquartered company, which can trace its roots back to 1847, has reported a turnover of £318.6m for the year to 30 March, 2024, up from the £298.7m it achieved in the prior 12 months. Newly-filed accounts [...]
Asda workers ‘owed over £2bn in back pay’ as 159 MPs write to bosses September 24, 2024 Retail workers at supermarket giant Asda are owed more than £2bn in back pay, according to the GMB Union. The claim comes as 159 MPs wrote to bosses at the Leeds-headquartered company calling for an end to “pay discrimination” of its supermarket workers. The politicians have also called on TDR Capital, which is about to [...]
Mohsin Issa to step away from Asda as search for CEO continues September 18, 2024 Supermarket giant Asda has announced that Mohsin Issa will step away from his executive leadership role to focus on his position as sole chief executive of petrol forecourts business, EG Group. Lord Stuart Rose will assume Mohsin’s responsibilities alongside TDR Capital partner Rob Hattrell, the Leeds-headquartered grocer said, while Mohsin Issa will remain a co-owner [...]
Asda: Huge equal pay court case starts amid demonstrations September 9, 2024 A court case over equal pay involving more than 60,000 Asda workers has started amid demonstrations being staged in Brighton and Manchester. The GMB union, which has said the case is the biggest ever in the private sector, is arguing that the predominantly female retail workforce is paid up to £3.74 an hour less than [...]
Aldi hails record sales as profit surges by almost £400m but loses market share September 9, 2024 Aldi has lost market share despite achieving record sales during its latest financial year as its profit surged by almost £400m, new figures have revealed. The Warwickshire-headquartered UK arm of the German supermarket giant lost 0.2 per cent to report a market share of 10 per cent in 2023. That’s despite Aldi posting record sales [...]
Inside Asda’s turnaround plan to win back customers from supermarket rivals August 9, 2024 It’s a difficult time to be at Asda’s helm – with sales down as well as competitors eating into its market share, the supermarket giant has announced an ambitious three-point turnaround plan to stave off further declines. Without a permanent CEO – the position has been empty since 2021 and filled on an interim basis [...]
Iceland sheds 1,000 jobs as sales pass £4bn and loss slashed August 6, 2024 Sales at supermarket giant Iceland passed the £4bn mark during its latest financial year as its pre-tax loss was slashed by more than £30m, according to newly-filed accounts. The Flintshire-headquartered chain has posted a revenue of £4.2bn for the year to March 29, 2024, up from the £3.9bn it reported during the prior 12 months. [...]
Problems at Asda look set to continue as workers strike again July 24, 2024 This week, Asda workers - with the support of GMB union - announced the latest strike action in a months-long string of collective action and demonstrations.
Farmfoods adds hundreds of new jobs as turnover passes £1bn for the first time July 16, 2024 Farmfoods has added more than 200 new jobs to its team as its turnover breezed past £1bn for the first time in its history, according to newly-filed documents.