EG Group
This coverage explores EG Group’s role and strategy within the UK retail sector, focusing on convenience retail, fuel stations, food-to-go operations, acquisitions, and financial developments. Reporting examines leadership decisions, market positioning, and integration of retail formats, offering insights for executives, managers, and professionals navigating multi-format and fast-moving retail environments.
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May- 2025 -30 MaySupermarkets
Asda Q1 revenues fall 5.9% to £5bn
Asda has seen its total revenues fall 5.9% year-on-year to £5bn, excluding fuel, for the first quarter to 31 March, but revealed that it is seeing “green shoots” in its sales performance. While like-for-like sales during the period declined by 3.1%, this represents a 1.1% improvement on the fourth quarter…
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Apr- 2025 -28 AprilNews-In-Brief
Today’s news in brief-28/4/25
Mohsin Issa, co-founder of EG Group, has stepped down as CEO but will retain a significant minority stake and remain on the board as a non-executive director. Russell Colaco, the current CFO, will take over as CEO, bringing extensive international retail and investment banking experience. The move reflects EG Group’s…
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28 AprilPeople Moves
Asda co-owner Mohsin Issa steps down as EG Group CEO
EG Group has announced that co-founder Mohsin Issa will step down as chief executive, with current group chief financial officer, Russell Colaco, taking over the role. Issa will, however, retain a “substantial” minority shareholding and remain on EG’s board as a non-executive director of the business. Colaco, who joined the…
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22 AprilNews-In-Brief
Today’s news in brief-22/4/25
Marks & Spencer has apologised to customers after a technical glitch disrupted contactless payments and click-and-collect services over the Bank Holiday weekend. Shoppers reported frustration at being unable to complete purchases, with some forced to abandon full trolleys. The issue also affected M&S’s email and chat systems, preventing advance customer…
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22 AprilSupermarkets
Asda to open 25 convenience stores as part of turnaround strategy
Asda is reportedly getting ready to expand its convenience store footprint with 25 openings in new locations between June and December of this year, according to The Telegraph. It is understood that the supermarket chain’s strategy is to grow its smaller store formats in a bid to reach more local…
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Feb- 2025 -27 FebruaryNews-In-Brief
Today’s news in brief-27/2/25
Aldi is consulting on a head office restructuring plan that could put 350 jobs at risk, primarily affecting buying, finance, and back-office roles. No customer-facing positions will be impacted, and the company aims to redeploy affected staff where possible. The restructuring aligns with Aldi’s growth strategy, including a £67m investment…
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27 FebruarySupermarkets
EG Group profits surge 9% in FY24
EG Group has reported a 9% increase in EBITDA to $992m (£782.5m) in FY24 driven by significant contributions from its US and European divisions. Grocery and merchandise gross profit rose by 7% to $1.26bn (£994.1m), driven by a gross margin increase of 193bps to 31.1%. Meanwhile, foodservice gross profit was…
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Sep- 2024 -19 SeptemberPeople Moves
Stuart Rose to lead Asda as Mohsin Issa steps back
Asda has announced that Mohsin Issa is set to step down from his executive responsibilities at the supermarket to focus on his previously-announced role as sole CEO of EG Group. Chair Stuart Rose will assume his responsibilities alongside Rob Hattrell, a partner at TDR Capital and a director on the…
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Jun- 2024 -7 JuneSupermarkets
TDR Capital to become majority owner of Asda as Zuber Issa exits
TDR Capital is set to become the majority owner of Asda, announcing that it has agreed to acquire Zuber Issa’s shares in the supermarket. Mohsin Issa will remain a co-owner in Asda alongside TDR Capital, and the ownership of Asda is now 67.5% by TDR Capital, 22.5% by Mohsin Issa, and…
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May- 2024 -21 MayNews
Today’s news in brief-21/5/24
Zuber Issa is poised to acquire the UK arm of EG Group, a move indicating the Issa brothers’ business paths are diverging. This acquisition excludes Cooplands bakery, certain Starbucks outlets, and EG’s electric vehicle charging business, Evpoint, with the deal expected to conclude by late June. Additionally, Zuber Issa is…
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