Supermarkets
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Feb- 2021 -12 February
Issa brothers junk bond sale raises £2.75bn
The Issa brothers, Asda’s billionaire buyers, have raised a record-breaking £2.75bn through a sterling junk bond, as investors continue to back the UK’s largest leveraged buyout in over a decade. Moshin and Zuber Issa, together with private equity firm TDR Capital, are set to acquire the supermarket chain for £6.8bn,…
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11 February
M&S launches sustainable denim range
Marks and Spencers has started replacing its denim items with more sustainable dyes as part of an environmental initiative. Around 50% of the new denim range uses 86% less water compared to the industry average for denim finishing. The supermarket chain said that 58% of its customers supported the idea…
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11 February
Sainsbury’s pledges to match Aldi on 100s of prices
Sainsbury’s has pledged to match discount supermarket Aldi on hundreds of branded and own-brand products, in what the group describes as its “boldest ever value campaign”. According to the grocer, customers will now find around 250 products all “carefully price matched” to the equivalent product at Aldi. The price match…
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10 February
Tesco fights shareholder challenge over UK obesity crisis
Tesco is preparing to face a shareholder resolution from a coalition of institutional and retail investors, who are calling on the company to set targets to increase the proportion of healthy products in its sales. Coordinated by NGO ShareAction, the resolution is being supported by seven institutional investors managing over…
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9 February
Ocado sees annual earnings soar by 69%
Ocado has seen its annual earnings rise by 69% as the pandemic strengthened the demand for online grocery shopping. The virtual supermarket revealed that group earnings were £73.1m for the year ending on 29 November 2020, up from £43.3m the previous year. Earnings in Ocado Retail, the company’s joint venture…
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4 February
Sainsbury’s commits to reducing greenhouse emissions
Sainsbury’s has committed to reducing greenhouse gas emissions through the use of science-based targets, with the store now hoping to achieve net zero by 2040. The supermarket chain has said it will now work with a number of suppliers on developing and meeting its own Scope 1 and 2 targets, …
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3 February
EG Group to acquire Asda’s forecourt business in £750m deal
The EG Group, part of the consortium that is set to acquire ‘Big Four’ Grocer Asda in a £6.8bn deal, has announced it will also acquire Asda’s petrol forecourt business for £750m. EG’s acquisition of the forecourt business is subject to the same CMA regulatory clearance being received by the…
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2 February
John Lewis Partnership to provide care packages to NHS workers
The John Lewis Partnership has announced its partnership with the British Medical Association (BMA) to provide frontline NHS workers with care packages to keep them “refuelled and refreshed” as they continue facing extreme pressure caring for patients in UK hospitals. Based on advice from the BMA, these supplies will be…
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2 February
Aldi looks to onboard redundant Arcadia and Debenhams staff
Aldi is calling for those affected by the fall of the Arcadia and Debenhams retail empires to apply for a position in its store as it aims to create 4,000 jobs across Britain this year. The discount supermarket, which has over 900 UK sites said that it would very much…
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1 February
Asda prioritises deliveries to support 5,000 nurseries
Asda has announced that it will now be offering priority access to slots in order to support 5,000 nurseries which continue to provide essential childcare services during lockdown. The supermarket chain has gifted its nursery customers with a ‘Priority Pass’, which will allow them to benefit from advance access to…
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