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Asda unveils plans for ‘transformational’ redevelopment of London superstore

Retail Gazette

Asda has launched plans for a “transformational” mixed-use redevelopment of its ten-acre Park Royal store in North West London, marking a first for the supermarket. 1,500 new homes are planned to be built, c.500 1,500 new homes are planned to be built, c.500 Additionally, up to c.1,500 Additionally, up to c.1,500

Planning 107
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Morrisons kicks off £1bn debt buyback plan

Retail Gazette

Back in October 2021, private equity firm Clayton Dubilier & Rice (CD&R) won an auction to buy Morrisons in a deal valued at £7bn , and the grocer’s most recent financial report showed it had £8.5bn in debt at the end of October last year. The debt-financing bill was 23% higher than the £593m incurred in 2022.

Planning 117
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Morrisons posts strongest like-for-like sales growth in three years

Retail Gazette

The grocer claimed its key customer satisfaction metrics were “improving strongly”, and that its complaints had more than halved during the last 20 weeks. ” The update comes depsite the grocer pulling in a £1bn loss last year, as its debt interest payments related to its private equity takeover soared.

Grocer 113
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Mamas & Papas poaches Asda exec as new CFO

Retail Gazette

Mamas & Papas has poached Asda’s finance exec Sarah Ashby as its new chief financial officer. Asbhy, who took up the post on January 19, most recently served as the supermarket chain’s senior finance director of projects and M&A.

Finance 98
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Lidl rapid expansion plans threatened as interest bill triples to £108m

Retail Gazette

Lidl’s UK operation is facing increased borrowing costs, posing a potential challenge to its relentless growth plan across the nation. Along with fellow discount rival Aldi, the grocers have stolen significant market share away from traditional supermarkets, with the pair accounting for £1 of every £5.50 spent in grocers.

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Waitrose boss claims ‘era of cheap food is over’

Retail Gazette

Waitrose executive director James Bailey has claimed the “era of cheap food is over,” days before the grocer is due to unveil a new initiative to support its British farmers in switching to regenerative agriculture. “We need to witness the end of cheap food and a reversal of the value of the food people are eating.”

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AWS Q&A: How Retailers can Prepare Ecommerce Operations for COVID-Driven Uncertainty

Retail TouchPoints

Consumers fear for their health and they fear for their finances, especially today with what is around 20 million. If you’re a grocer, you have different problems than if you’re a fashion retailer, right? It’s no longer ‘I always go to the same grocer every week.’ people still without jobs.

Grocer 334