Supermarkets

Asda co-owner to step back after ‘fixing’ supermarket

Asda co-owner Mohsin Issa has announced that he is set to step back from running the business after “fixing” it. Speaking to the BBC, Issa said that he was carrying out a “reset” of the retailer before hiring a new CEO. Despite the supermarket’s £5bn debt pile Issa insisted he…

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Sainsbury’s to axe 1,500 roles amid cost-cutting programme

Sainsbury’s has announced that it will reduce the number of roles across the business by approximately 1,500 as part of its ‘Save and Invest to Win’ programme.  The news comes as the supermarket has outlined proposals that aim to adapt the business’ strategy earlier in February.  According to the proposals,…

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Tesco launches Accelerator Programme for developing brands

Tesco has welcomed 27 up-and-coming brands to its Welwyn Garden City campus as it launched its new innovation initiative, the Accelerator Programme. The programme will provide support to some innovative brands in the UK, with the suppliers benefiting from the opportunity to be stocked in Tesco stores and online, and…

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Ocado posts £394m FY loss despite improved cash flow

Ocado has posted a £394m pre-tax loss for FY23, despite also reporting strong revenues growth, positive adjusted EBITDA and improved cash flow across all of its businesses.  The pre-tax loss comes after the retailer was boosted by £187m from a settlement with Norwegian competitor AutoStore.  Despite the loss, the company…

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Asda’s mean Gender Pay difference hits 6.6%

Asda has today (27 February) published its 2023 Gender Pay figures, confirming that the mean pay difference between all male and female workers is 6.6%. In a report submitted to the Government’s Gender Pay website, the supermarket also revealed that the median pay difference between all male and female colleagues…

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M&S invests record £89m in boosting staff pay

M&S has today (27 February) announced a record £89m investment in its retail pay offer, and a further £5m annual investment to enhance its maternity, paternity, and adoption policies. From 1 April, the rate of pay for UK customer assistants will increase from £10.90 to £12 per hour, representing a…

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Grocery sales jump 5% as food price inflation falls

Total grocery sales increased 5.1% to £35.3bn for the four weeks to 18 February 2024, as grocery price inflation fell 5.3%, marking the lowest rate since March 2022, according to the marketing data and analytics company Kantar. February also saw a return to indulgence for some consumers as dry January…

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Morrisons hires advisors as it eyes sale of bakery business

Morrisons has reportedly drafted in advisers to explore the potential sale of its bakery business, as part of plans to offload assets in order to pay down its debts.  According to The Telegraph, the supermarket is now working with Deloitte to explore potential interest in Rathbones bakery, which supplies baked…

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Co-op opens newest local store in Welling

The Co-op has announced the opening of its newest 2,700 sq ft store in Welling on Wrotham Road, creating 18 jobs locally.  The store, which has been designed to “serve and support the community conveniently”, offers customer car parking, an ATM, and parcel collection services with an InPost Locker.  Meanwhile,…

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John Lewis to axe 200 contractors in an effort to cut costs

The John Lewis Partnership will be making approximately 200 contractors redundant from its customer service provider, Foundever, The Telegraph has reported.  Foundever, which has been the retailer’s partner for the past 17 years, has handled the majority of its customer service with a team of 1,000 people.  The news comes…

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