David Lloyd: Padel and pickleball help chain make first profit in over a decade June 13, 2025 The rising popularity of padel and pickleball has helped health club chain David Lloyd make a profit for the first time since being acquired by private equity giant TDR Capital. The Hertfordshire-headquartered chain has reported a pre-tax profit of £32.2m for 2024, new accounts filed with Companies House have revealed. The results come after the [...]
Tesco is tightening its grip on the UK supermarket crown June 12, 2025 Tesco has boosted market share again as it outperforms peers in the ever-more competitive UK grocery space. In its first-quarter results this morning, the supermarket giant reported a 5.9 per cent uplift in food sales and a 6.2 per cent rise in home and clothing sales. Tesco now has 28 per cent of the UK [...]
Tesco: Supermarket giant widens market share amid price war June 12, 2025 Supermarket juggernaut Tesco delivered an upbeat trading statement for the first three months of the year as the price war in the competitive UK grocery market rumbled on. Food sales at the grocer were up 5.9 per cent year-on-year led by a strong performance in fresh food. Meanwhile, non-food sales climbed 6.2 per cent after [...]
Profit almost wiped out at Asda billionaire’s empire ahead of mega IPO June 11, 2025 Profit at EG Group, the empire co-founded by a major investor in supermarket giant Asda, has almost been wiped out ahead of a planned $13bn float in New York. The Blackburn-headquartered group was formed by brothers Mohsin and Zuber Issa and is now co-owned by private equity giant TDR Capital. Now, new accounts filed with [...]
Tesco shareholders eye returns as ‘awful April’ bill hikes set to hit profit June 8, 2025 Tesco shareholders will be watching closely for signs that it is managing to fend off competition as the supermarket price war heats up and “awful April” bill hikes eat into household income. The UK’s biggest supermarket chain will unveil its financial results for the first three months of its financial year on Thursday. Tesco recently [...]
Is Asda’s ambitious turnaround starting to bear fruit? May 29, 2025 Asda has had a tumultuous year and a half. Since January 2024, the supermarket giant has undergone numerous leadership changes, IT issues, and sales woes. Its troubles began back in 2021, when it was bought in a debt-fuelled takeover by the billionaire Issa brothers – who have since departed the board – and private equity firm [...]
Asda ‘making good progress’ despite sales continuing to fall May 29, 2025 The chairman of Asda has said the supermarket giant is “making good progress” despite its sales continuing to fall. The Leeds-headquartered chain has reported a revenue – excluding fuel – of £5bn for the three months to 31 March, 2025, the first quarter of its financial year. The total is a 5.9 per cent decrease [...]
AI watchdog slams government over facial recognition rollout May 29, 2025 An artificial intelligence (AI) search body has criticised the UK government for accelerating the deployment of facial recognition technology without first establishing a comprehensive legal framework. The Ada Lovelace Institute has warned the increasing use of live facial recognition (LFR) by police and retailers across the UK is happening in a “legislative void”, raising urgent [...]
Grocery inflation jumps to highest level in more than a year May 28, 2025 Grocery price inflation shot up to 4.1 per cent in May, driven by chocolate and suncare products in the hottest start to the month on record. The rise follows a 3.8 per cent jump in April and a 1.8 per cent rise in March, according to Kantar. “This latest jump in grocery price inflation takes [...]
Competition intensifies to buy UK supermarket stores despite uncertainty May 26, 2025 Real estate investors are increasingly competing to snap up UK supermarkets as a lack of new locations and slow planning processes weigh on developments. Grocery properties are “proving to be one of the most resilient and attractive investment sectors”, according to research by Colliers. Experts at the real estate firm said international and UK investors [...]