Morrisons inks £220m sale of warehouses as it aims to become ‘more popular’ GRocery 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 [...]
Supermarkets ‘implored’ to lower forecourt fuel prices after steady wholesale drop RAC appeal Motoring group the RAC has urged supermarkets for not lowering prices in forecourts despite wholesale fuel going down in price. The car-owners’ organisation appealed to the big four – Tesco, Sainsbury’s, Morrisons and Asda to make consumers’ lives easier amid the cost of living crisis. In new figures released, the RAC showed wholesale fuel prices [...]
Tesco invests further £14m into egg industry as avian flu sparks rationing shortages 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 [...]
More than one thousand McColl’s jobs at risk under Morrisons’ plans November 1, 2022 Morrisons has announced that around 1,300 McColl’s workers are facing redundancy, as it prepares to shutter some loss-making stores. The supermarket, which rescued the ailing McColl’s from collapse earlier this year, has set out its plans for the convenience store business. Some 132 stores have been identified as having “no realistic prospect of achieving a [...]
Morrisons one step closer to watchdog green light for McColl’s takeover October 10, 2022 The competition watchdog has said it is minded to accept proposals from Morrisons that would alleviate any concerns over higher prices for consumers amid its takeover of McColl’s. The Competition and Markets Authority (CMA) had raised competition concerns regarding a small number of areas amid the supermarket’s £190m takeover of the beleaguered convenience store chain. [...]
Cost of living crunch sinks teeth into Morrisons profit September 28, 2022 Morrisons has posted sliding sales after the retailer was recently knocked out of the Big Four by discounter rival Aldi. In financial results for the 13 weeks to 31 July, the group posted like-for-like sales, excluding fuel, down 3.1 per cent on the comparable period a year ago. The supermarket pointed to “unprecedented inflationary pressures” [...]
Revealed: These are Britain’s most popular companies to work for September 21, 2022 New research has revealed the top companies Brits want to work for the most. The data shared with City A.M. analysed the top searches for jobs and careers on Google, to see which private sector companies Brits are keenest to work for currently. Tesco came out as the most popular company, with the multinational supermarket seeing [...]
Morrisons’ takeover of McColl’s won’t risk higher prices for vast majority of shoppers, CMA says September 8, 2022 Morrisons’ takeover of McColl’s newsagents has resulted in competition concerns in just a small number of areas, a watchdog has found. The Competition and Markets Authority (CMA) said the supermarket’s £190m rescue deal meant that the vast majority of areas will not face reduced competition. However, in 35 areas, the deal has presented price increase [...]
Morrisons, Tesco and Sainsbury’s suspend sales of disposable barbecues amid heatwave August 12, 2022 Morrisons, Tesco and Sainsbury’s are among a slew of household names to halt sales of disposable barbecues owing to warm weather concerns. There have been warnings about potential fires due to high temperatures this summer, as large swathes of the country have been categorised as drought status. Morrisons said in a statement on Friday: “In [...]
High street names including Tesco and Greggs call on Tory leadership candidates to slash ‘shop tax’ August 9, 2022 A coalition of retailers including Morrisons, Greggs and Tesco, have called on the Conservative party leader candidates to slash business rates. The Retail Jobs Alliance has called on both Rishi Sunak and Liz Truss to pledge to cut business rates, which it said were “killing our high streets”. The group, consisting of Co-op, Greggs, Kingfisher, [...]