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Retail
Fraser Group Gets 48-Hour Deadline to Make A Binding Commitment for Debenhams
October 27, 2020 02:41 PM GMT| By Hina ChowdharySummary Frasers Group has to make a rescue bid of £300 million in next 48 hours for Debenhams Throughout the coronavirus crisis, Debenhams has been closing stores and axing jobs Many high-street retailers are struggling to pay their rent.....
UK retail sales soar for fifth straight month, exceed expectations
October 26, 2020 12:48 PM GMT| By Hina ChowdharySummary Retail sale volumes rose by 17.4 per cent between July and September 2020. Retail volumes saw a growth by 1.5 per cent in September as compared to the volumes in August numbers. Non-food sales rose by 3.8 per cent in September, followi.....
British super marketers on a discount spree to cheer the festive season
October 21, 2020 05:48 PM BST| By Kunal SawhneySummary Top Retailers Waitrose and Co-op announce price cuts on essential goods to woo customers Most supermarket majors Tesco, Asda, Morrison, Sainsbury have declared similar sops This year the struggle to get back shoppers into stores is.....
Boohoo share price falls around 20 per cent after PwC quits as fashion retailer’s auditor
October 21, 2020 01:06 PM BST| By Kunal SawhneySummary On 19 October, Boohoo announced that PwC was still its auditor but would not participate in the bidding process for a new auditor. PwC has been Boohoo’s auditor since 2014. The share prices of Boohoo Group Plc (LON: B.....
Asda Pledges to Become Carbon Neutral By 2040
October 20, 2020 05:39 PM BST| By Kunal SawhneySummary Asda Ltd is the second retailing company in the United Kingdom after Sainsbury Plc to pledge to be carbon neutral by the year 2040. The company has also announced that it would halve its wastage by no later than 2050, which would have a.....
Dunelm Group Plc (LON: DNLM) returns back £14.5-mn claimed under furlough scheme
October 19, 2020 12:01 PM BST| By Team Kalkine MediaSummary The company’s strong financial performance has prompted its management to return a part of the money claimed under the furlough scheme The company has decided that it would not claim any retention scheme bonus from the government .....
AO World shares close 30 per cent up as online sales electrify
October 16, 2020 11:49 AM BST| By Kunal SawhneySummary A strong trading update soared the share prices of AO World The online electrical goods retailer forecasted a more than 50 per cent jump in group revenue. Sales rose, despite competitors reopening their physical stores in Summer after .....
Asos share falls despite 329 per cent rise in profit, cautions on consumer spending
October 15, 2020 05:32 PM BST| By Kunal SawhneySummary The online fashion retailer posted a record jump in pretax profit. The British fashion giant’s profits were up because it could cut costs of around £50 million. During the pandemic-induced lockdown period, the online retail.....
Amazon not to be impacted by the UK digital services tax
October 15, 2020 12:04 PM BST| By Hina ChowdharySummary Small retailers would be attracting the tax instead of big retail giants like Amazon Local traders would be at a disadvantage as a result, and government should not allow that to happen, claim critics The company wants a common taxatio.....
Stock performance of Tesco and Sainsbury amid surge in UK grocery sales
October 15, 2020 11:36 AM BST| By Kunal SawhneyAfter the recent industry data suggesting a rise in British grocery sales for September 2020, market experts indicated that the share prices of two of the leading British supermarkets such as Tesco Plc (LON: TSCO) and J Sainsbury Plc (LON: SBRY) co.....
Tesco (LON: TSCO) defends paying dividend to its shareholders
October 09, 2020 11:54 AM BST| By Kunal SawhneySummary The Tesco Group has declared an interim dividend of 3.20p per share to its shareholders Doubling of online food sales and surge witnessed in the pre-tax profits during the crisis came as a defense for the company to payout dividend Sin.....
Mike Ashley’s Frasers Group Gets Investors Support for Staff Bonus Scheme
October 08, 2020 04:26 PM BST| By Team Kalkine MediaSummary Frasers Group announced a staff bonus scheme that could be worth in excess of £100 million In 2017, the company had last made a bonus payout to 2,000 of its employees of £43 million Investors voted in favour of the staff bo.....
Walmart sells majority stake in Asda to Issa brothers and TDR for £6.8 billion
October 05, 2020 01:11 PM BST| By Team Kalkine MediaSummary The Issa brothers and TDR Capital have acquired Asda from Walmart While entrepreneur brothers Mohsin and Zuber Issa of the EG Group and TDR will have equal shareholdings, Walmart would retain a minority equity investment in Asda. Asda.....
Asda buyout: TDR-backed EG Group emerges as Walmart’s favourite with £6.5-bn deal
September 30, 2020 12:02 PM BST| By Team Kalkine MediaThe TDR Capital-backed EG Group has emerged as Walmart’s preferred bidder in the race to buy Asda Stores Limited with a £6.5-billion deal. Walmart Inc., the department store chain from the US is the parent company of Asda. While.....
Independent Review Identifies Flaws in Boohoo’s Leicester Supply Chain
September 27, 2020 03:57 PM BST| By Team Kalkine MediaSummary An independent review identified several flaws in Boohoo’s Leicester supply chain In July 2020, the fashion retailer had appointed Alison Levitt QC to conduct an assessment regarding its responsibilities and duties related to the .....
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Lens on Tesco And J Sainsbury As UK Retail Sales Growth Hits Highest Since April 2019
September 26, 2020 07:50 PM BST| By Team Kalkine MediaSummary The retail sales in the UK grew at the fastest pace in September to +11 as compared to -6 in the month of August. Furniture, DIY, and grocery sales have increased sharply while Clothing and department store retailers continued strugglin.....
Tesco And Morrison Start Rationing Again Fearing A March Re-Run of Panic Buying
September 26, 2020 03:00 AM BST| By Team Kalkine MediaSummary Tesco And Morrison have reintroduced purchase limits of up to three per customers, on items such as toilet rolls, flour, and dried pasta to prevent a panic buying akin to the early days of the pandemic. Recently the scientific advisor t.....
Supermarkets like Tesco and Morrison reassure customers of sufficient supplies amid lockdown fears
September 24, 2020 01:10 PM BST| By Team Kalkine MediaSummary The United Kingdom is witnessing a surge in Covid-19 cases since August 2020 The recent spike has pushed UK to report highest single-day cases since 7 May 2020 News of the second wave of infections has provoked Britons to stockpile nec.....
Tesco Bolster Its Green Initiative, Joins UK Electric Fleets Coalition
September 23, 2020 02:11 PM BST| By Team Kalkine MediaSummary On the very first day of the Climate Week NYC, major climate commitments and messages were delivered Tesco Plc, the UK’s biggest supermarket chain joining the UK Electric Fleets Coalition, a group of now 27 big corporates The com.....
UK Retail Sales Rose Marginally In August 2020
September 21, 2020 02:20 PM BST| By Team Kalkine MediaSummary There was an increase in the monthly growth rate for volume sales and value sales in August 2020 by 0.8 per cent and 0.7 per cent A sharp drop in total sales at minus 85.7 per cent was recorded for the textile, clothing, and footwear st.....
