The Week Ahead: Tesco, Coinbase IPO, JD Sports, JPMorgan, Goldman Sachs April 12, 2021 Some of the biggest banks are set to report earnings this week, with JPMorgan, Wells Fargo and Goldman Sachs all due on Wednesday. On a macro level, Tuesday’s UK GDP figures and inflation data from the US are undoubtedly going to be important. Meanwhile, the largest US cryptocurrency exchange, Coinbase, goes public. City A.M. looks at [...]
Supermarket clothing sales double as shoppers seek retail therapy April 7, 2021 Supermarket clothing sales boomed last month as consumers sought in-person shopping experiences while non-essential retailers were closed, in a positive indicator of pent up demand ahead of high streets reopening next week. Sales of clothing at supermarkets doubled to £313m in the four weeks ended 27 March. Home and garden sales also collectively jumped to [...]
Panic over: Brits made 117m fewer trips to the supermarket this March March 30, 2021 Brits made 117m fewer trips to supermarkets this month than in March 2020, which was a month that saw supermarket shelves stripped bare as consumers started panic buying ahead of the UK’s first national lockdown. Grocery sales fell three per cent in the four weeks to 21 March 2021, while during the same period last [...]
Co-op Group under pressure to repay £80m of government funding March 4, 2021 The Co-op board will reportedly meet next week to discuss handing back millions in government cash it was handed during the pandemic. The move would follow in the footsteps of leading supermarkets who returned business rates relief at the end of last year and have pledged to forgo the break announced in the Budget. The [...]
Waitrose opens new London warehouse in online delivery push March 4, 2021 Waitrose has opened a new London warehouse in partnership with Wincanton in a bid to boost its online delivery capacity. The supermarket, which last year ended its partnership with Ocado, said the warehouse in Greenford will deliver 25,000 orders each week and employ an extra 800 staff when it opens fully later this year. That [...]
Aldi and Lidl sales growth slows as discounters struggle to compete with Big Four’s online capabilities March 2, 2021 The growth of the discount supermarkets Lidl and Aldi has slowed as the Big Four UK grocers benefitted from their more established online presence during the pandemic. German budget grocers Lidl and Aldi reported that sales were up 10.9 per cent and 5.6 per cent respectively in the 12 weeks to 21 February. However, three [...]
300 McColl’s convenience stores to be converted into Morrisons Daily’s March 1, 2021 300 McColl’s convenience stores are set to be converted into Morissons Daily’s over the next three years, as the companies’ said this morning they have extended their wholesale supply partnership. The upcoming rollout follows over 30 conversions in recent months, with all stores continuing to be owned and operated by McColl’s. Offering the Morrisons [...]
Sainsbury’s workers welcome third pandemic bonus and pay rises February 26, 2021 Sainsbury’s is set to award its staff with a third bonus and pay rises for keeping shops stocked throughout the pandemic, the supermarket chain said this morning. The group has also announced a pay rise, which forms part of a 24 per cent increase in wages for store staff over the last five years. Following [...]
Lockdown leaders: Aldi and M&S voted UK’s top in-store supermarkets February 22, 2021 Lockdown leaders: Aldi and M&S voted UK’s top in-store supermarkets
Government should rethink rates holiday as economy kicks back into life February 1, 2021 John Webber is Head of Business Rates at Colliers International News that John Lewis is under pressure to hand back millions of pounds in business rates relief received in this year’s retail rates holiday shows that the Government must re-think the way it uses the rates system to hand out support to businesses.. Last year [...]