Parcel deliverer Yodel saved from brink by fast growing rival Shift February 13, 2024 Parcel delivery group Yodel has been saved from the brink of collapse by rapidly-scaling competitor Shift overnight.
Tritax Big Box and UK Commercial Property agree to merge creating £6.3bn real estate giant February 12, 2024 In a stock exchange notice this morning, Tritax Big Box said the merger, which still needs to be voted on by shareholders, would "bring together complementary logistics-oriented investment portfolios with a shared focus on resilient and growing income."
Evri: Private equity owners prep parcel giant for £2bn sale February 11, 2024 Evri's private equity owners are prepping a mega £2bn sale of the parcel delivery firm, according to reports.
Sainsbury’s refuses to rule out job cuts in £1bn ‘food first’ strategy February 7, 2024 Sainsbury’s did not rule out job cuts as part of its strategy update which aims to save £1bn and ramp up the amount of food it sells in its supermarkets. This morning, the UK’s second biggest grocery chain said it would slash the amount of general merchandise and clothing it sells in its shops, describing [...]
Sainsbury’s refocuses on food in new growth strategy with ‘progressive’ dividends and buybacks too February 7, 2024 Currently only 15 per cent of its supermarkets offer the full food range, with the new plan to focus on 180 of these highest potential stores.
Sainsbury’s spends £220million to ‘keep prices low’ for customers January 21, 2024 Sainsbury’s will have forked out £220m to keep prices down for shoppers by the end of this financial year, according to its boss.
Sainsbury’s injects £200m for staff pay as bumper Christmas helps stave off Lidl and Aldi threats January 4, 2024 Some 120,000 employees at Sainsbury’s and Argos are set to have their hourly wage increase, as the supermarket injects £200m into improving pay. Staff at the ‘Big Four’ grocer will now be handed £12 per hour, in line with the Real Living Wage. For workers in London this will leap to £13.15. Sainsbury’s has increased [...]
‘A cruel blow’: Loungers boss bemoans Hunt’s lack of business rates support for larger firms November 28, 2023 The boss of Loungers has criticised chancellor Jeremy Hunt’s decision to not extend business rates relief to larger firms, describing it as a “cruel blow”. Speaking to City A.M, the chief of the casual dining chain, Nick Collins, said: “It’s going to add to the inflationary pressure, at a time when hospitality really struggled with [...]
Wilko may look like Woolies 2.0, but a new buyer should save it from collapse August 11, 2023 Wilco’s collapse into administration put tens of thousands of jobs at risk, but the high street staple should have a future if a buyer sees beyond the hysteria, writes George MacDonald.
Argos ‘well positioned’ to face Amazon challenge amid transformation, says boss July 31, 2023 Argos is “well positioned” to face up to the challenge of Amazon and other online retail giants, according to bosses at parent firm Sainsbury’s. Paula Nickolds, the boss of the grocery giant’s general merchandise business including Argos, said the retail brand has maintained its “strong emotional bond with customers” despite changes to its operations amid shifting consumer habits. It comes as the high street stalwart marks 50 years since it was founded by Richard Thompson [...]