Morrisons: Revenue creeps up as private equity-owned supermarket fights debt pile January 31, 2024 Earnings at private equity-owned Morrisons have laid largely flat for the year, according to an update by the supermarket. Revenues excluding fuel topped however £14.9bn in the 2022/23 financial year up just 2.9 per cent the year before. Like-for-like sales also only managed to climb 1.8 per cent. Additionally, full year EBITDA crawled up 6.5 [...]
Morrisons sells forecourts arm to group under same PE owner in £2.5bn deal January 30, 2024 Supermarket Morrisons has completed a £2.5bn deal to sell its 347 petrol stations to Motor Fuel Group (MFG). Both Morrisons and MFG are owned by Clayton Dubilier & Rice (CD&R), the American private equity firm who bought the supermarket three years ago. As part of the transaction Morrisons will take a minority stake of approximately [...]
Superdry: Losses widen, CFO quits and boss admits a ‘difficult’ period January 26, 2024 Embattled retailer Superdry posted further losses in its half year update, blaming a challenging retail market and underperformance of its wholesale segment.
Mouthwash, teabags and sausages latest examples of ‘shrinkflation’ – Which? January 20, 2024 Shrinking mouthwash bottles, fewer teabags and sausages with less pork are among downsized and downgraded supermarket products as manufacturers and retailers cut costs, a watchdog has found.
Liontrust raids GAM staff after failed takeover bid January 17, 2024 GAM head of global equity Mark Hawtin has now been hired by Liontrust itself to begin in May. The manager will also bring his investment team, with David Goodman, Kevin Kruczynski and Pieran Maru all set to join.
Aldi and Lidl cash in as Brits clamoured for discounted Christmas January 2, 2024 Aldi was the big winner as the retailer reported its "best ever" festive period, taking in £1.5bn in sales in the run-up to 25 December, across its more-than 1,000 UK outlets.
Aquaman and The Lost Kingdom review: DC Universe comes to soggy end January 1, 2024 Aquaman and The Lost Kingdom is as jumbled as the universe it exists in, and a reminder of why there’s a need to start afresh.
Asda chief Mohsin Issa looks to shrug off debt fears in grilling from MPs December 19, 2023 The billionaire co-owner of Asda, Mohsin Issa, has defended the firm’s complex corporate structure and mounting debt pile today amid growing concerns from MPs over the management of the supermarket group.
‘I went to Los Angeles dive bars to relive my teenage rock ‘n’ roll dream’ December 7, 2023 Los Angeles has some of the most famous rock 'n' roll dive bars in America. Damien Gabet went on a pilgrimage to the West Coast to relive his teenage dream
M&S and Morrisons breach competitive land agreements CMA finds December 6, 2023 M&S and Morrisons used unlawful land agreements to stop rival supermarket stores nearby, the competition's watchdog has ruled.