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Zuber Issa to acquire EG’s UK arm as group returns to profit

Retail Gazette

Zuber Issa is also understood to be seeking to sell his stake in Asda to private equity business TDR Capital, which currently co-owns the supermarket with the brothers.

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Shopper habits ‘returning to normal’ as lockdown begins to lift

365 Retail

Shoppers are making more trips to supermarkets and buying less online as lockdown lifts and the vaccine rollout boosts confidence, according to new figures. Shoppers are making more trips to supermarkets and buying less online as lockdown lifts and the vaccine rollout boosts confidence, according to new figures (Victoria Jones/PA).

Returns 115
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Drive-Up Grocer Addie’s Opens First Store, Plans to Expand Across U.S.

Retail TouchPoints

The new supermarket concept Addie’s , a self-described “drive-up grocer,” has opened its first store in Norwood, Mass., ” The pandemic served as a propellent for online grocery, and many consumers aren’t returning to traditional in-store shopping: online grocery is expected to account for 20.5% fueled by $10.1

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“Back to what good looks like”: The ups and downs of Woolworths’ FY23

Inside Retail

Australian retail giant Woolworths Group reported solid FY23 results on Wednesday , showcasing the supermarket sector’s resilience in the face of dropping consumer spend. Earnings before interest and tax (EBIT) from the company’s Australian supermarkets rose 19.1 per cent over the financial year to $2.8 per cent to $249 million.

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Asda pressed to share unaudited results after delayed sign-off

Retail Gazette

Asda has been pressed to share a draft copy of its results with investors after its auditor failed to sign off in time on company accounts. According to The Telegraph , the supermarket’s bosses decided to share a private presentation with lenders late last month showing unaudited profits and sales.

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Victoria launches deposit scheme for Tetra Pak beverage cartons

Inside Retail

Victorians can now return their used Tetra Pak beverage cartons for recycling and receive a 10c refund following the launch of Victoria’s Container Deposit Scheme (CDS). ” Supporting the initiative, supermarket chain Coles has introduced 47 Reverse Vending Machines in its Victorian stores to coincide with the CDS launch.

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Zuber Issa closes in £500m Asda stake sale to TDR Capital

Retail Gazette

Asda co-owner Zuber Issa close to securing a deal to sell his £500m stake in the supermarket to its private equity backer TDR Capital. Once the transaction is complete, Walmart will retain its 10% in the supermarket , Mohsin will keep his 22.5% Issa is understood in the final stages of negotiations to dispose of his 22.5%