Argos scraps catalogue after 50 years as shoppers move online July 30, 2020 Argos will stop printing its iconic catalogue after almost 50 years due to the increasing shift to online shopping. The retailer said it would stop producing the catalogue due to changing customer shopping habits. The bi-annual catalogue will no longer be regularly printed by the end of January 2021, according to reports. Argos first launched [...]
Sainsbury’s sales up 8.5 per cent as grocer ‘feeds the nation’ during lockdown July 1, 2020 Grocer Sainsbury’s today said that total first quarter sales increased by 8.5 per cent as the supermarket beat expectations despite the coronavirus pandemic. It said that although it was forecasting a £500m profit hit due to the crisis, stronger grocery sales and business rates relief would offset the shortfall. Shares in the grocer jumped initially [...]
Sainsbury’s delays dividend as coronavirus costs expected to reach £500m April 30, 2020 Sainsbury’s has delayed a decision on its dividend and warned that it will take a £500m hit due to costs associated with coronavirus, but that soaring grocery sales and business rates relief will largely offset the impact. The supermarket said this morning that it faces costs associated with protecting customers and staff, weaker fuel, general [...]
UK coronavirus lockdown: Consumers spend more on video games and online shopping April 20, 2020 Britons have been spending more on video games and with Amazon, Apple and Argos during the UK coronavirus lockdown, according to the latest research. Digital bank Starling said its customers spent almost 300 per cent more on Playstation and Nintendo in the week ending 5 April compared to the week to 15 March, before the [...]
Jobs at risk as Iceland launches review of management structure January 26, 2020 Frozen food retailer Iceland has launched a review of its management structure, in a move that could see some roles axed. The supermarket said it will review the structure to ensure it is running the “business as efficiently and economically as possible”. The review is ongoing and no final decisions have been made, although no [...]
Failed Asda merger ‘trigger’ for Sainsbury’s CEO Mike Coupe’s exit January 22, 2020 The departure of Sainsbury’s boss Mike Coupe’s was sparked by the failure to merge the supermarket with rival Asda, analysts said today. Industry experts said it was impossible to look beyond the failure of the Asda merger, and felt his resignation – announced today – was simply a matter of time. Coupe was caught on [...]
Sainsbury’s CEO Mike Coupe to retire after six years January 22, 2020 Mike Coupe is set to retire as chief executive of Sainsbury’s after six years at the helm, the company revealed today. The CEO will leave the role in May before retail and operations director Simon Roberts takes charge in June. Mike Coupe said leaving had been a “very difficult decision for me personally”. Read more: [...]
Sainsbury’s to cut hundreds of management jobs January 21, 2020 Supermarket giant Sainsbury’s said today it would cut hundreds of management roles. It said the move was part of its plan to further integrate Sainsbury’s with catalogue retailer Argos which it bought in 2016 in a £1.4bn deal. Sainsbury’s said it had reduced its senior leadership team by 20 per cent since the start of [...]
Sainsbury’s Christmas sales slip despite online boost January 8, 2020 Sainsbury’s suffered the biggest drop in Christmas sales of general merchandise since it bought Argos in 2016, as consumer demand for toys and games weakened. General merchandise sales, which includes Argos, dropped 3.9 per cent in the 15 weeks to 4 January, driving a 0.7 per cent decline in total retail sales excluding fuel. However, [...]
Retail landscape will continue to evolve January 7, 2020 At first glance, the £50m deal to convert a north London retail park into a warehouse and logistics hub is a perfect representation of the forces upending an embattled sector. The relentless rise of online shopping and home delivery means plots like the Ravenside site in Edmonton, snapped up by warehousing giant Prologis, is worth [...]