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Morrisons buys 49 Blockbuster stores Monday, 18th February 2013
The UK’s fourth largest supermarket chain has bought 49 stores from Blockbuster, the video and DVD rental chain that fell into administration in January. With the majority of the stores in the south east, it’s believed that Morrisons plans to turn the outlets into convenience-format stores as it looks to compete with Tesco and Sainsbury’s.
Sainsbury’s announces 10,000 new jobs for convenience stores Wednesday, 21st November 2012
Sainsbury’s is set to create thousands of new jobs over the next three years to meet growing demand for its convenience and local store business. According to the Telegraph, Sainsbury’s has said it expects to fill 10,000 positions by 2015, as it continues with its expansion plans for smaller ‘local’ and ‘convenience’ outlets.
Sainsbury’s posts better than expected 1.9% rise in sales Wednesday, 3rd October 2012
Sainsbury’s has managed to exceed expectations for sales growth, thanks to the strength of its own-brand products and its continued expansion into local, convenience stores. Like for like sales excluding fuel at the country’s third largest retailer rose 1.9 per cent in the second quarter, beating analysts’ expectations of a 1.4 per cent rise.
Comfort and convenience lead the way for growth in grocery Monday, 24th September 2012
The UK consumer is spending more money on comfort and convenience, innovation and health foods, despite price hikes sending till receipts soaring. A recent Snapshot Report from SymphonyIRI Group, an industry leader in FMCG market measurement, found consumers’ spending an increasing amount on groceries that offered convenience, innovation, new tastes and a health-focus.
“Shock” departure for Costcutter founder Colin Graves Friday, 4th May 2012
The founder and former executive chairman of Costcutter has resigned from his position and left the group in a shock move for the convenience store sector. C-Store on Friday reported that Colin Graves had decided to put an end to his six month notice period and leave directly, stating: “I’m not cut out to be just a figurehead” as a shake-up on the retailer’s board resulted in a showdown meeting this week.
Sainsbury’s set to buy 18 Total petrol stations Thursday, 12th April 2012
Sainsbury’s on Wednesday announced it would buy 18 Total petrol stations from Rontec, as the supermarket plans to expand its fuel business and convenience stores. City Am reported that the deal includes seven Total stations in London, along with sites across Yorkshire, Lincolnshire and the Midlands.
Londis fetes most successful year for growth Friday, 3rd February 2012
Londis has revealed 2011 was the most successful year for growth from multi-site operators. The group added 65 stores to its fascia in 2011 from multi-site operators, as well as seeing existing members open up new stores. Sales director Paul Courtney said: “We are delighted that these major operators have chosen to partner with Londis and develop their businesses with us.
7-Eleven prepares luxury offer for New Year Saturday, 17th December 2011
Shoppers with a penchant for impulse buys should steer clear of 7-Eleven stores for a few weeks. The convenience store operator is planning to offer luxury goods in its Korean stores for a limited period after a successful trial during the September Korean thanksgiving holiday, during which it sold eight Gucci product lines.
Convenience stores rise above retail gloom Thursday, 15th September 2011
Convenience and grocery stores are continuing to triumph at a time when many retailers are faced with a bleak and uncertain future.
Many consumers have turned their backs on the idea of a large weekly shop, instead preferring to drop into smaller stores as and when they need to shop for groceries. The 25 to 35 year old demographic is especially prone to passing over larger supermarkets in favour of convenience stores as a result of the likelihood that this age group work late, thus they choose to pick up goods on the way home.
Business broker Redwoods Dowling Kerr has sold an increased number of convenience stores over the past few months. Recently the firm completed the sale of Corner House Stores and Post Office in Dorchester, and many more stores lay waiting in the pipeline.
Courtenay Elsey of Redwoods Dowling Kerr has commented: “Convenience stores are hugely popular with buyers: Many of the stores we have on the market receive several offers which results in a competitive bidding situation.” Mr. Elsey went on to state that “Convenience stores are the ideal choice of business, particularly with these first time buyers, as they are relatively easy to run and their recent success offers buyers the security they are seeking.”
Superquinn deal saves 2,800 jobs Tuesday, 19th July 2011
Budgens owners Musgraves have bought the Superquinn grocery chain under KPMG deal.
No price has been disclosed for the sale of the Irish chain, which went into receivership on Monday, but it has been confirmed all 2,800 jobs will be saved under the deal.
The buyout will secure the long-term viability for the grocer, which is thought to have debts of EUR 400 million.
Musgraves also owns SuperValu and Centra outlets in Ireland, as well as the 200-branch Budgens convenience store chain in the UK.
In a statement the Musgrave Group said: “Superquinn has been challenged by the scale of its debt burden and the difficult trading environment. This purchase secures the jobs of 2,800 people and on completion of the sale process, Musgrave intends to invest in the stores and work with the Superquinn employees to develop the future of the business.”
Musgraves currently supports 14,000 jobs across 600 supplier companies and contributes €2.9bn to the Irish economy.
Musgrave Chief Executive Chris Martin added: “Having come to this agreement with the Joint Receivers, we are excited by this opportunity. Purchasing Superquinn, when approved, supports our growth agenda and will sustain our competitiveness.”