Supermarkets abandon more schemes as pressure mounts on Sainsbury’s, Morrisons, Asda and Tesco March 8, 2016 The number of developments ditched by Britain's supermarket titans has jumped since the first half of the year, with construction and planning applications also in decline, new research shows. Property advisory firm CBRE's latest analysis of the grocery property market shows that the number of abandoned schemes rose by 13.3 per cent in the second half of 2015. Proposed projects [...]
Sainsbury’s paves the way to make hostile bid for Argos parent Home Retail Group following bid from Steinhoff March 3, 2016 Sainsbury's has cleared the way to make a potential hostile bid for Argos parent company Home Retail Group. The supermarket was all set to take over the business, having made an offer valuing the firm – which no longer includes Homebase – at £1.3bn. However it was gazumped at the last minute by Christo Wiese-backed Steinhoff, [...]
Darty share price soars as Christo Wiese’s Steinhoff International wades in with £662m offer March 2, 2016 Shares in Darty have soared by nearly 10 per cent this morning after South African retail conglomerate Steinhoff International made a £662m offer for the UK-listed electrical chain – a move that could scupper its already agreed sale to French rival Fnac. Darty said it has received a cash offer of 125 pence per share from the [...]
Morrisons may not be the most obvious partner for Amazon, but there is method behind the marriage – and it could mean trouble for Asda, Tesco and Ocado March 1, 2016 Only one pound out of every £10 that Britons spend on groceries drops into Morrisons’ tills. Not a bad ratio, you might think, but like its bigger rivals (over £6 in every £10 is spent in Tesco, Sainsbury’s or Asda), Morrisons has been struggling with a declining market share. The Bradford-headquartered supermarket is not the [...]
What the Morrisons-Amazon tie up is doing to Tesco, Ocado and Sainsbury’s share prices February 29, 2016 Morrisons might be having a whale of a day after revealing its tie-up with Amazon this morning – but virtually the rest of the retail sector has spent the day so far in the red. Morrisons' share price soared on the news that it would be offering hundreds of products to Amazon's UK customers via [...]
Homebase to be rebranded Bunnings after Wesfarmers completes £340m acquisition from Home Retail Group – now what’s happening with Argos? February 29, 2016 Home Retail Group has sold off its DIY chain Homebase to Australian group Wesfarmers, after shareholders voted 99.3 per cent in favour of the move. The deal, which was first submitted in December, valued the 265-store home improvement business at £340m. It was approved at an AGM last week and the deal was completed on Saturday [...]
Retailers John Lewis, Marks & Spencer, Home Retail Group, Kingfisher and John Lewis top list of offenders in late supplier payments February 29, 2016 Britain's five largest high street retailers were late in paying a shocking 80 per cent of their invoices to suppliers last year, a report today has revealed. MarketInvoice, a peer-to-peer platform for selling invoices online, has found that late payments to suppliers rocketed last year, with high street retailers John Lewis, Boots, Home Retail Group, Marks & [...]
Sainsbury’s granted extended deadline of 18 March to make new bid for Argos owner Home Retail Group February 22, 2016 Sainsbury's has been given an extended deadline to make a new bid for Argos owner Home Retail Group. The supermarket group has until 5pm on 18 March to make a new offer for the company, almost four weeks from now. Home Retail's shares closed up 12.96 per cent today at 173.5p, after a rival bidder [...]
Home Retail Group’s share price soars after Christo Weise-backed Steinhoff International bests Sainsbury’s offer for Argos parent company February 22, 2016 Home Retail Group's share price was soaring this morning, after another suitor made a higher offer for Argos' parent company. On Friday, Christo Weise-backed Steinhoff International made a higher cash offer of 175p-per-share – valuing the British business at £1.4bn. Home Retail Group's share price was up more than 12 per cent in early trading – while Sainsbury, which has [...]
Sainsbury’s expected to ask for more time over Home Retail Group bid as Christo Wiese’s Steinhoff International joins the party February 21, 2016 Sainsbury’s is expected to ask for an extension to tomorrow’s deadline for making a firm offer for Home Retail Group after a South African retail conglomerate waded in at the eleventh hour with a higher offer. The supermarket chain revealed earlier this month that it had reached an agreement with Home Retail over a possible cash [...]