Retail bosses square up in £6.5bn bidding war for Asda August 21, 2020 Two veteran UK retail bosses are set to go head-to-head in a dramatic £6.5bn private equity bidding war for supermarket chain Asda. Former Debenhams chief executive Rob Templeman is said to be working with Apollo Global Management, while Paul Mason, who served as Asda boss 20 years ago, has teamed up with Lone Star Funds. [...]
Ex-Asda boss Andy Clarke praises UK supermarkets’ ‘incredible’ response to coronavirus crisis May 7, 2020 Former Asda chief executive Andy Clarke said the UK supermarket sector had responded “incredibly well” to the challenges of the coronavirus pandemic. Clarke, who led Asda for six years before leaving in 2016, said UK grocers had managed to “get Britain back on track” after a surge in stockpiling caused product restrictions in the lead [...]
Shoppers spend extra £524m at UK supermarkets in April April 28, 2020 Shoppers spent an extra £524m at UK supermarkets during the coronavirus lockdown compared to April last year. Grocery sales soared 9.1 per cent in the 12 weeks to 19 April, which were £524m higher in the past four weeks than they were in April 2019. Households made a record low 14 trips to UK supermarkets [...]
Walmart edges closer to Asda sale as buyout firms bid March 16, 2020 US retail giant Walmart has edged closer to a sale of Asda after three private equity firms competing to buy the supermarket reportedly made it through to the next stage of bidding. Buyout firms Apollo Global Management, Lone Star Funds and TDR Capital submitted first round offers for the UK grocer and have been invited [...]
Asda cuts fuel prices after oil price spirals on coronavirus March 10, 2020 Supermarket Asda has cut the price of petrol and diesel amid the Russia-Saudi Arabia oil war. The supermarket has cut its price by 2p per litre (ppl), meaning petrol will cost 114.7p per litre and diesel will cost 116.7p per litre. Asda said they are its lowest fuel prices since November 2017. “It will be [...]
Fuel prices fall on back of coronavirus crisis March 4, 2020 Coronavirus fears pushed prices lower on UK petrol station forecourts in February with some of the biggest reductions in diesel since 2000. According to data out today by the RAC, average UK unleaded petrol fell 2.93p to 124.02p a litre by 29 February, compared to 126.95 at the start of the month. Diesel also fell [...]
Asda: Private equity firms race to buy majority stake March 1, 2020 Private equity firms are vying to buy a majority stake in Asda after its US owner Walmart decided to offload the supermarket following the competition watchdog’s decision to block its merger with Sainsbury’s. US buyout firm Lone Star has reportedly made an offer for a stake in the grocer, with private equity firms Apollo and [...]
Waitrose ranked best UK supermarket in annual Which survey February 22, 2020 Waitrose has been ranked as the best supermarket in the UK in an annual satisfaction survey conducted by Which. The chain, which is owned by John Lewis, hit five stars on most categories, but did come joint-last in value for money. Budget supermarkets Aldi and Lidl continue to be ranked highest in terms of value. [...]
Asda sales slump due to ‘cautious’ Christmas shoppers February 18, 2020 Asda sales slumped over the crucial festive trading period due to “cautious” consumer spending, as shoppers reined in their Christmas lists. The supermarket giant said like-for-like sales excluding petrol dropped 1.3 per cent in the three months to the end of December. The sales drop was driven by “challenging market conditions”, particularly in Asda’s clothing [...]
Christmas supermarket sales growth slows to four-year low January 7, 2020 Supermarket sales growth over the Christmas period slowed to the lowest rate in four years as shoppers watched their budgets over the festive period. Retailers reported sales of £29.3bn, up £50m on last year, however growth slumped to the lowest rate since 2015. Read more: Morrisons sales fall in ‘unusually challenging Christmas period’ Year-on-year supermarket [...]