According to new research, the UK food and grocery market is set to jump by a fifth to a record £206 billion by 2018, as business for convenience stores and food discounters rise considerably and online sales double. IGD, the food and consumer research charity behind the findings, believe that online and convenience retailing will be the main beneficiaries as consumers become increasingly more reliant on smartphones and tablets.
Tesco is planning to reopen its Watford hypermarket in an ambitious new project which will allow restaurants, coffee chains, nail salons, soft-play zones and gyms, to all exist under one roof. The leading supermarket chain did previously say that it was bringing an end to its long-term plan of opening larger stores across the country, due largely to the advent of convenience stores.
According to sources close to Reuters, Wal-Mart Stores Inc. is considering making a bid for Hong Kong supermarket, ParknShop, valued at USD 4 billion. The acquisition is sparking interest from corporate and private equity buyers after Hutchison Whampoa Ltd, the conglomerate owned by Asian business mogul Li Kashing, put an August 16 deadline on the sale.
Supermarkets spend millions in cutting off long waits at queues for customers. From barcode scanners to self-serving checkouts, now there’s a Rapid Scan on the way that could finally spell the end of those long queues.
The world’s second largest retailer, Carrefour, said on Thursday that sales in its core French hypermarkets and China have been positive, reassuring investors that newly appointed chief executive Georges Plassat can spark a European revival for the grocer. Chief financial officer Pierre-Jean Sivignon told reporters that projected sales figures before interest and taxes of around EUR 2.2 billion (GBP 1.89 billion) was “reasonable”, providing currencies in Latin America do not buckle against the Euro.
Sainsbury’s announced today that the by Sainsbury’s brand will be introduced across Sainsbury’s general merchandise lines from August 2013. The own-brand range will launch across general merchandise over the next two years in an attempt to emulate the success of the by Sainsbury’s range across the food sector.
Dalton Philips, Morrisons’ chief executive, today admitted that internet sales are hurting the high street and said his company is willing to pay ‘online tax’ to redress the situation.
Asda have significantly reduced its hire car costs following a review of its policy, which sees booking and authorisation processes tightened. Since the changes have been implemented, ancillary hire costs have been reduced by 19 per cent, mileage charges have been reduced by 72 per cent, the cost of re-fuelling is lower by 33 per cent, reduced vehicle hire days of 15 per cent, and a total reduction in vehicle hire spend of 9.5 per cent.
Sainsbury’s chief executive Justin King has declared that convenience stores will overtake supermarkets by the end of the year. Speaking at the Sainsbury’s annual meeting in London, the supermarket boss reaffirmed that the so-called “space race” in the industry is far from over, contradicting claims made by Tesco chief executive Philip Clarke.
Former Tesco chief executive Sir Terry Leahy, has reportedly received almost £8.5 million in performance-based payouts since retiring two years ago, according to The Guardian. The payments come amid writedowns, profit warnings and mounting criticism about Leahy’s strategic legacy.
Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Shopping Store Tesco UK US brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news finance food luxury morrisons my online online retail people profit retail industry retail property retailer sale sales supermarket waitrose