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Retail News
Food stores could be heading for 'perfect storm'June 14th, 2010
Supermarket rivals Tesco and Sainsbury’s go head to head with trading updates this week amid warnings of a “perfect storm” for the sector as rivals battle for hard-pressed shoppers.
Like-for-like sales advances are likely to be anaemic for both, considering the 0.8% like-for-like growth registered by Morrisons in the 13 weeks to May 2, when it complained of the “virtual elimination” of food inflation.
UK market leader Tesco, whose chief executive Sir Terry Leahy is to step down next March after 14 years, will be first up tomorrow and it is likely to emphasise the growth of its international busniness amid tough domestic markets.
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World Cup boosts sales by 20% at John Lewis
June 12th, 2010
John Lewis yesterday said department store sales jumped 20% last week as World Cup fever encouraged more customers to splash out on new flat- screen TVs.
The electricals and technology department was the busiest of the group’s three divisions during the week to last Saturday, with sales up 27% on a year ago.
All but one of its 28 department stores saw overall sales growth, with Aberdeen the only outlet to miss out. Knight & Lee in Southsea topped the list with a 35% rise.
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Asda in £778m deal to buy Netto stores
May 28th, 2010
Supermarket giant Asda said yesterday it was snapping up the UK arm of discount retailer Netto in a move set to add another 193 stores to its estate.
Asda, which is owned by US group Wal-Mart, has agreed a £778m deal to buy the stores, which it aims to convert to the Asda brand by next summer.
The group said it hopes to complete the takeover later this summer, subject to regulatory approval. The deal marks an ambitious first move by new Asda boss Andy Clarke, who took over the reins earlier this month.
Asda, which has 374 stores, is aiming to boost its smaller format store portfolio and said the Netto outlets will be added to a new division set up for supermar-kets smaller than 25,000 sq ft.
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Even more important for retailers to focus upon communicating at a local level
- People are most cash-conscious when grocery shopping. Three quarters of respondents cited value for money as the key factor in deciding where to shop
- Belt-tighteners shopping for clothes or fashion items are ten times more likely than non belt-tighteners to use shops which ‘care about the environment’
- People are least likely to cut back on spending in the opticians category (24 per cent)
- Local media was consistently seen as a good source for useful vouchers or coupons – top in DIY (54 per cent), opticians (47 per cent) and groceries (53 per cent).
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