Asda
This coverage explores Asda’s strategy, operations, and performance within the UK grocery and retail sector. Reporting highlights store and online developments, product ranges, pricing strategies, financial results, leadership decisions, and sustainability initiatives. With a focus on commercial outcomes and competitive positioning, it provides insights for retail professionals managing grocery, value-driven, and multi-channel operations.
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May- 2024 -3 MayNews
Today’s news in brief-3/5/24
Asda, following strong FY23 financial results, has successfully refinanced £3.2bn of debt, pushing maturities into the next decade. This included issuing significant high-yield bonds and extending its revolving credit facility to October 2028. The refinancing reflects Asda’s robust performance and investor confidence after Moody’s recent upgrade. The Works has completed…
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3 MaySupermarkets
Asda successfully refinances £3.2bn of debt
Asda has announced that it has refinanced £3.2bn of debt pushing out the majority of its maturities into the next decade. The refinancing included the biggest Sterling high-yield bond this year and the second-largest sterling bond in the European leveraged finance market. Asda also successfully extended the maturity of its…
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Apr- 2024 -25 AprilNews
Today’s news in brief-25/4/24
Getir is set to exit the UK and Europe as investors inject additional funds into the company, according to Sky News. The funding, expected to be in the tens of millions of pounds, will support the closure of operations in the UK, Germany, and the Netherlands. The move follows restructuring…
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25 AprilSupermarkets
Asda’s credit rating upgraded amid strong FY results
Asda has welcomed Moody’s upgrade of the company’s corporate rating to B1 from B2, following a strong financial performance in FY23.It comes as full-year profits soared by 24% to £1.078bn, largely driven by a like-for-like sales growth of 5.4%, and the impact of strategic acquisitions. Moody’s attributed the upgrade to…
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23 AprilSupermarkets
Supermarket sales jump 3.3% as inflation continues to fall
Overall take-home grocery sales rose by 3.3% over the four weeks to 14 April as grocery price inflation also continued to fall to 3.2%, according to the latest data from Kantar. Kantar said the decline has been aided by a significant increase in promotional spending, with items bought on offer…
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22 AprilNews
Today’s news in brief-22/4/24
Investors from the Middle East and China are eyeing Selfridges following Signa’s financial struggles, leading to restructuring and insolvency. Central Group, a co-owner, is seeking to buy out Signa’s stake, with potential partnerships being explored with sovereign wealth funds and tycoons. Notable entities like Saudi Arabia’s Public Investment Fund and…
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22 AprilSupermarkets
Asda profits soar 24% to £1.1bn amid sales boost in FY23
Asda has seen adjusted EBITDA after rent soar by 24% to £1.078bn in FY23, largely driven by like-for-like sales growth and the impact of strategic acquisitions, after the group welcomed four consecutive quarters of growth.For the year ending 31 December 2023, like-for-like sales (excluding fuel) rose by 5.4%, which Asda…
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19 AprilNews
Today’s news in brief-19/4/24
Wilko, the retailer that faced collapse last September, is back with a revamped click and collect service. After successful trials in Exeter, Luton, and Plymouth, the company is reintroducing its free click and collect option. Customers can now access this service from reopened stores and over 200 collection points through…
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19 AprilSupermarkets
Asda Lowestoft workers to stage 48-hour strike
Asda employees at Lowestoft have announced they are set to strike for 48 hours over “a litany” of workplace problems, as GMB Union claims the workers have “had enough”. Some 122 workers voted in favour to strike for 48 hours from 00:01 on Friday 10 May until 23.59 on Saturday 11…
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16 AprilNews
Today’s news in brief-16/4/24
Superdry has announced a restructuring plan targeting rent reductions across 39 UK stores. The company, seeking to secure its future amidst financial challenges, will undergo a delisting from the stock exchange. Founder Julian Dunkerton is underwriting an equity raise of up to £10m to support the initiative. While store closures…
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