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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Mar- 2024 -5 MarchNews
Today’s news in brief-5/3/24
According to the British Retail Consortium (BRC), total retail sales rose by 1.1% in February year-on-year, attributed partly to February being the wettest on record. While food sales increased by 6%, non-food sales decreased by 2.5%, both below previous averages. In-store and online non-food sales also experienced declines. Despite positive…
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5 MarchSupermarkets
Issa brothers scale back EG Group investment to cut debts
Asda owners the Issa brothers have reportedly scaled back investment in their petrol forecourts business EG Group in a bid to reduce debts. According to the Telegraph, EG Group reduced its growth capex by 37% last year to £191m in what executives called a “controlled reduction” to maximise liquidity. The…
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5 MarchSupermarkets
Supermarket sales slow as retailers push branded promotions
Total Till sales at UK supermarkets slowed +5.3% in the last four weeks ending 24 February 2024, according to new data released today by NIQ. This is a slight slowdown compared with the +6.6% increase reported last month, a result of food inflation falling to 5%. However, grocery retailers capitalised…
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1 MarchNews
Today’s news in brief-1/3/24
The forthcoming £90m Oxford Street Programme is poised to generate up to £2.8bn in additional sales for London’s West End between 2027 and 2033, as indicated by the New West End Company. This initiative, supported by both public and private investments, aims to revamp Oxford Street’s public spaces, infrastructure, and…
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1 MarchSupermarkets
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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Feb- 2024 -28 FebruaryM&A
Jollyes acquired by TDR Capital
Jollyes has been acquired by TDR Capital from previous owners Kester Capital, for what Kester calls a 4.2x return on investment. The investment, expected to be completed by the end of March, will enable Jollyes to continue to grow its store estate at pace. Upon completion of the deal TDR…
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27 FebruaryNews
Today’s news in brief-27/2/24
Shop price inflation reached its lowest level since March 2022, dropping to 2.5% in February, according to new figures from the British Retail Consortium (BRC). This decline was attributed to easing input costs for energy and fertilisers, resulting in lower food prices. However, non-food inflation remained stable, with clothing prices…
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27 FebruaryNews
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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27 FebruarySupermarkets
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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12 FebruaryNews
Ingenuity appoints Alistair Crane as chairman
Ingenuity, the complete commerce business of THG plc, has appointed technology and payments entrepreneur Alistair Crane as its first chairman to support plans to accelerate growth in core markets including the US. Crane, who joined THG on 2 January, is currently chief executive of digital career coaching business Bloom, has…
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