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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Feb- 2024 -6 FebruaryNews
Today’s news in brief-6/2/24
Revolution Beauty has settled a dispute with its former CEO and co-founder, Adam Minto. Minto will pay the company £2.9m over six years, starting with a payment of £483,333.35 due in March. The settlement follows delays in the company’s financial reporting during Minto’s tenure. Both parties agreed to settle without…
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6 FebruaryNews
Asda to open 110 stores in February
Asda will open 110 Asda Express convenience stores in February – a record for a single month – to accelerate its growth strategy in convenience and put it firmly on track to reach 1,000 UK stores in total for the first time. The supermarket will convert 109 former convenience stores…
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5 FebruaryNews
Today’s news in brief-5/2/24
Authentic Brands, the owner of Ted Baker, is reportedly exploring cost-saving options after terminating its relationship with AARC, the company responsible for Ted Baker’s UK operation. The potential measures include store closures, job cuts, or a Company Voluntary Agreement (CVA) to reduce rent rates or exit stores. Authentic had provided…
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5 FebruaryNews
Morrisons stores chief steps down
Morrisons stores chief has stepped down from his role at the company after four years, The Telegraph has reported. David Lepley, who was appointed group retail director in 2020, has worked for Morrisons for almost eight years. He has an extensive career in the retail industry, having started at Asda…
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5 FebruarySupermarkets
Issa brother mulls sale of Asda stake
One of the Issa brothers is reportedly planning to offload his stake in Asda and instead focus on EG Group’s petrol station business, The Telegraph has reported. Reports said that Zuber Issa has approached buyout specialists and retailers to explore a sale of his 22.5% stake in Asda, only three…
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2 FebruaryPeople Moves
Mamas and Papas names new CFO
Mamas and Papas has announced the appointment of Sarah Ashby, Asda’s former finance executive, as its new chief financial officer. The news comes as the retailer aims for a record year after reporting a successful Christmas trading period in 2023. Ashby, who officially joined the retailer on 19 January, most…
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Jan- 2024 -29 JanuaryNews
Today’s news in brief-29/1/24
The UK experienced a significant increase in business administrations, with the retail sector being the hardest hit, accounting for 19% of the total administrations. This information comes from a study conducted by full-service law firm Shakespeare Martineau. The year saw a total of 1,641 businesses filing for administration, a 22%…
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29 JanuarySupermarkets
EY resigns as Asda auditor
Big Four firm EY has reportedly resigned as auditor of supermarket giant Asda after one of its senior partners started a romantic relationship with billionaire chief executive Mohsin Issa, according to the Telegraph. The report stated that EY had informed the grocer about its decision in June, but Asda did…
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23 JanuarySupermarkets
Morrisons nears £2.5bn sale of forecourt business
Morrisons is reportedly close to agreeing a deal to sell its forecourts business to Motor Fuel Group (MFG) in a £2.5bn, according to Sky News. MFG and Morrisons are both majority owned by American private equity firm Clayton Dubilier and Rice (CD&R). Reports of talks between the two companies emerged…
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19 JanuaryNews
Asda to roll out 21 new stores by the end of January
Asda has announced that it will be adding 21 new convenience stores to its estate by the end of this month, with five opening their doors today (19 January). The announcement comes as the retailer continues its programme to convert the convenience stores acquired from the Co-op and EG Group…
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