Petrol price wars ease as forecourt retailers see profits rocket December 14, 2021 Supermarkets such as Asda have eased competition in their fight to attract customers to their fuel and diesel pumps, as prices and profits rocket. Data from the RAC showed that last week’s price of petrol was 146.9p while the price of diesel continued to hike, reaching a record 150.80p. According to a Times analysis, the [...]
Asda workers join supermarket strike action threats December 7, 2021 Asda workers have joined Tesco staff in threatening staff action over pay, with both supermarkets anxious to mitigate disruption for shoppers ahead of Christmas. Union GMB is balloting Asda workers over a potential strike after it described the supermarket as “not taking workers seriously” over pay despite “rampant” inflation. The ballot closes on 20 December, [...]
RAC accuses petrol retailers of taking ‘drivers for a ride’ as prices rise despite plummeting wholesale costs December 3, 2021 RAC slammed petrol retailers today for raising prices in November despite plummeting wholesale costs on both major oil benchmarks.
CD&R £7bn Morrisons takeover put on ice amid market volatility December 2, 2021 Clayton, Dubilier & Rice’s takeover of British supermarket Morrisons has been postponed to next year, as lenders push back on the massive debt package that the US private equity firm is using to finance the buyout to wait out market volatility. In what represents the UK’s biggest buyout in more than a decade at a [...]
The supermarket wars are in full swing and Tesco is beefing up to fight its turf December 1, 2021 I last saw Sir Terry Leahy in 2013, two years after his messy divorce from Tesco. He agreed to a chat about retail on the condition he wouldn’t have to talk about the supermarket juggernaut he helped to create or his successor, Philip Clarke, who’d begun to question the state of the business he’d been [...]
Asda sales dip as supermarket charters cargo ship to ensure Christmas stock availability November 29, 2021 Asda has reported a fall in underlying quarterly sales as it said it chartered its own cargo ship to ensure Christmas decorations and toys make it to UK shelves. The supermarket, owned by the billionaire Issa brothers and private equity firm TDR Capital, said like-for-like sales, excluding fuel, fell 0.7 per cent year-on-year in the [...]
Former Yorkshire Building Society chief Mike Regnier becomes Santander UK’s new CEO November 29, 2021 Santander UK announced this morning that Mike Regnier will become the bank’s new chief executive officer.. Regnier joins Santander from Yorkshire Building Society, where he has been CEO since 2017 and prior to that Chief Commercial and Chief Customer Officer. Santander said in a statement he has over 25 years’ financial services and retail experience [...]
Billionaire Issa brothers plot $35bn merger of Asda with their EG Group petrol stations November 27, 2021 The billionaire brothers behind last year’s mammoth acquisition of Asda are now mulling a merger of the grocer with their petrol and forecourts business EG Group. A merger between the two businesses is one of a few strategy options that the Blackburn-based entrepreneurs are considering for their global forecourt empire EG group. If they were [...]
George at Asda launches treasure hunt for second-hand Gucci items November 25, 2021 Supermarket Asda has teamed up with vintage wholesaler PreLoved, ahead of the anticipated release of Ridley Scott’s House of Gucci. Some 30 exclusive pieces have been hidden across 50 Asda stores across the country, with shoppers encouraged to hunt for second-hand items. Pieces will be on sale for as little as £12. With the latest [...]
Ex M&S boss Lord Rose headed for Asda chairman seat November 23, 2021 The former Marks & Spencer chairman and Land Securities chairs have been announced as new appointments to Asda’s board of directors. Asda said Lord Rose (formerly of Marks & Spencer) has been appointed chairman of the retailer while Dame Alison Carnwath (formerly of Vitec and Land Sec) will join as a non-executive director. The pair [...]