Grocers set for £550m tax reduction over next three years January 3, 2023 UK supermarkets and grocers will benefit from an almost £550 million tax cut over the next three years, according to new analysis. It comes after more than half a million retail properties in England and Wales were revalued as part of a shake-up to the business rates system of property taxes. Analysis of official government [...]
Morrisons inks £220m sale of warehouses as it aims to become ‘more popular’ December 9, 2022 Morrisons has inked a £220m sale and leaseback transaction of seven logistics properties, as it aims to become “more popular and more accessible.” The supermarket – which is owned by New-York private equity titan Clayton Dubilier & Rice – announced the completion of the deal with asset manager ICG on Friday. Morrisons has undertaken to [...]
Grocery inflation dips for first time in almost two years but ‘long way down’ for price increases December 6, 2022 Grocery price inflation has dipped for the first time in almost two years while the price of a family Christmas dinner sits at an eye-watering £31. The rampant pace of price increases let up slightly this month, dropping 0.1 percentage points – the first dip in 21 months. Four-week inflation now sits at 14.6 per [...]
Exclusive: Poundland owner opens 3,000th Pepco store amid discount frenzy December 1, 2022 Discount giant Pepco has opened its 3,00th store, with a new Berlin site, as momentum swells for affordable goods while households tighten their belts. The owner of the Pepco, Dealz and Poundland brands told CityA.M. its 3,000th Pepco store opened its doors today, with plans to roll out hundreds more stores in the near future. [...]
Tesco invests further £14m into egg industry as avian flu sparks rationing November 26, 2022 Tesco is leading the charge in supporting egg suppliers, as British supermarkets begin rationing egg sales amid an outbreak of avian flu. Egg farmers in the UK have been wrestling with an outbreak of avian flu, on top of soaring inflation which has ramped up the price of feed and energy. Tesco has set aside [...]
Egg supply crisis: Tesco introduces buying limits as JD Wetherspoon changes menu November 22, 2022 Tesco is the latest chain to introduce limits on egg purchases owing to shortages and high costs. The supermarket told City AM it is introducing a limit of three boxes per customer to prevent shelves going empty. This comes after the British Egg Council warned the public that a the industry has been dealing with [...]
Wilko reviewing management of financing ahead of vital Christmas season November 20, 2022 Discounter Wilko has said it has a strong relationship with lenders, amid newspaper reports that it is urgently attempting to secure a £30m cash injection. The high street chain was reported to be in emergency talks with alternative lenders over rescue cash, off the back of a dramatic leap in interest rates, according to The [...]
Profits at Lidl quadruple after ambitious expansion across UK bears fruit November 17, 2022 Profits at supermarket chain Lidl have more than quadrupled after its ambitious expansion of stores and increased customers over the year, the German retail giant said this morning. Pre-tax profits reached £41.1m in the year to February 28, surging 319 per cent from the £9.8m posted the same time last year. It also saw revenues [...]
Sainsbury’s now using imported Italian eggs amid ‘supply challenges’ November 14, 2022 Sainsbury’s is now importing its eggs from Italy due to a supply crisis sparked by the avian flu outbreak. The supermarket giant admitted it and other rivals are “experiencing some supply challenges with eggs”, after a report on Friday outlined the staple food had soared in price. One Twitter user shared an image of eggs [...]
Retailers balance ‘sadvertising’ and festive joy in this year’s Christmas adverts November 13, 2022 Retailers have faced pressure this year to put out adverts that not only have a feel good factor, but also do good. Against the backdrop of a gloomy winter, where many families will be forced to cut back on Christmas celebrations and gifts in order to keep the fridge stocked and heating on, getting the [...]