Wetherspoon boss Tim Martin lashes out at ‘vast disparity in VAT treatment’ between pubs and supermarket alcohol sales January 25, 2023 Wetherspoon boss Tim Martin has launched a scathing attack on the government, saying the biggest threat to pubs is the “vast disparity in tax treatment” compared to restaurants and supermarkets. The outspoken chain boss said he was “cautiously optimistic” for the financial year ahead, as the firm published its like-for-like sales in the 25 weeks [...]
Fuel price warning if Asda forecourt mega-merger goes ahead January 23, 2023 A MOOTED merger between Asda and its owners’ separate forecourt business could lead to significantly higher fuel prices, a campaign group has warned. The billionaires – who bought Asda in 2020 for £6.8bn – are reportedly plotting to merge the supermarket chain with their forecourt business EG Group. The merger could create a new company [...]
Slow fashion: Retailers embrace second-hand clothing to draw in thrifty eco-conscious fashion lovers January 23, 2023 High street retailers are following in the footsteps of their online rivals, offering more second-hand clothes to lure in shoppers wanting to steer clear of fast fashion and hunt for bargains amid a cost of living crisis. The second-hand clothing market has exploded over the last decade to an estimated £6.5bn last year, largely thanks [...]
Asda owners explore £13bn merger with petrol business EG Group January 22, 2023 Asda’s owners are exploring merging the business with petrol forecourts business EG Group before EG’s 2025’s £7bn refinancing, The Times reported on Saturday. The two businesses are both jointly owned by Mohsin and Zuber Issa and private-equity company TDR Capital. The paper said the merger would create a business worth between £11bn and £13bn, with [...]
Food in 30 minutes: Sainsbury’s is latest to strike delivery deal with on-demand app Just Eat January 16, 2023 Sainsbury’s shoppers can prepare for groceries at the doorstep in just 30 minutes after as Britain’s second largest supermarket struck a deal delivery app with Just Eat. With the Just Eat app, customers will be able to order items from Sainsbury’s and have them arrive at their doorstep in under half-an-hour. The on-demand service will [...]
RAC calls on Tesco and others to cut fuel prices as costs fall January 6, 2023 The RAC has called on Big Four supermarkets such as Tesco to further cut fuel prices as diesel and petrol prices fell by around 9 per cent in December. Data published today by the motoring group show that petrol went down by 8.4p to 151.1p per litre in December, whilst diesel decreased by 9.4p to [...]
Boots: ‘Lipstick effect’ boost to sales as cash-strapped shoppers help chemist post record-breaking Black Friday sales figures January 5, 2023 High street stalwart Boots saw sales jump in its stores over its Christmas trading period, as the return of tourism and office-working proved a shot in the arm for its city locations. The privately owned chemist said like-for-like retail sales leapt 8.7 per cent in its first quarter to November, marking record-breaking sales on Black [...]
Govt accused of ‘rank double standards’ as civil servants paid £30m in vouchers December 29, 2022 The Government has been accused of “rank double standards” after giving almost £30 million in high-street vouchers to civil servants amid a pay freeze prompted by the cost-of-living crisis. Sixteen Whitehall departments in 2021-22 paid out a combined total of £29.57 million to staff in the form of ‘reward and recognition’ vouchers, a third more [...]
Currys, Asos and Sainsbury’s top retail stocks this Christmas December 23, 2022 For investors looking to give their portfolios a seasonal shake-up, CityA.M. takes a look at analysts’ selections of the retail stocks to keep a close eye on in the coming weeks. Analysts at Hargreaves Lansdown chose Currys, Asos and Sainsbury’s as the three retail stocks to watch this Christmas. It comes as retailers have been [...]
Asda slashes petrol prices after CMA review December 8, 2022 Asda has slashed petrol prices at the pumps over the past two days, opening up the possibility of a price war with its supermarket rivals.