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Reuters - 1 day ago

Britain's Asda brings back industry veteran Leighton to lead business

RPT-UPDATE 1-Britain's Asda brings back industry veteran Leighton to lead business Adds detail on performance paragraph 2, Rose background and comments paragraphs 3 and 4 , Leighton and Rose details paragraphs 5 to 8, TDR Capital comment paragraph 9 Leighton was CEO 1996 to 2001, sold business to Walmart Succeeds Stuart Rose as chair Rose said Asda has 'lost the plot' Asda has been losing market share to rivals By James Davey, Muvija M LONDON, Nov 23 (Reuters) - Struggling British supermarket As
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Reuters - 1 day ago

Britain's Asda brings back industry veteran Leighton to lead business

UPDATE 1-Britain's Asda brings back industry veteran Leighton to lead business Leighton was CEO 1996 to 2001, sold business to Walmart Succeeds Stuart Rose as chair Rose said Asda has 'lost the plot' Asda has been losing market share to rivals Adds detail paragraph 2, 4 to 6, TDR Capital comment paragraph 9 By James Davey and Muvija M LONDON, Nov 23 (Reuters) - Struggling British supermarket Asda said on Saturday veteran retailer Allan Leighton would return as executive chairman, more than two d
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Reuters - 2 days ago

UK consumer sentiment down post-Labour budget - JP Morgan

LIVE MARKETS-UK consumer sentiment down post-Labour budget - JP Morgan STOXX 600 up 0.7% Real estate leads, banks down 1.9% Thales drops on corruption investigation Wall St futures lower Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com UK CONSUMER SENTIMENT DOWN POST-LABOUR BUDGET - JP MORGAN The UK consumer is looking weak compared to other countries, according to a survey by JP
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Reuters - 4 days ago

Discounter Lidl to step up UK store openings

UPDATE 2-Discounter Lidl to step up UK store openings New store openings slowed to 15 in 2023/24 year Plans 23 in 2024/25, 40 in 2025/26 Returned to pretax profit in 2023/24 UK budget to add 'ten of millions' of pounds to costs Recasts with store openings and CEO comments paragraphs 1 to 6 By James Davey LONDON, Nov 20 (Reuters) - The British arm of German discount supermarket chain Lidl will accelerate its new store openings in the next few years after they slowed to just 15 in its 2023/24 fina
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Reuters - 5 days ago

UK retail warns of inflation, job losses from budget, seeks Reeves meeting

UPDATE 1-UK retail warns of inflation, job losses from budget, seeks Reeves meeting Over 80 retail bosses sign letter to finance minister Say retail faces 7 bln stg in extra annual costs from 2025 Wants to work with government to find solution Adds latest number of signatories paragraph 2, comment from spokesperson for Prime Minister Keir Starmer 7 and 8 By James Davey LONDON, Nov 19 (Reuters) - Britain's biggest retailers have written to finance minister Rachel Reeves to warn her that last mont
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Reuters - 6 days ago

Financial Times - Nov 19

PRESS DIGEST- Financial Times - Nov 19 Nov 19 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - London's Metropolitan police has 'exhausted' its financial buffers - UK retailers warn Rachel Reeves of £7bn hit from Budget changes - UK 'exposed' in event of global trade war, warns business secretary - British Airways flights hit by fresh round of IT problems Overview - London's Metropolit
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Reuters - 6 days ago

UK retail warns of inflation and job losses from budget, seeks Reeves meeting

UK retail warns of inflation and job losses from budget, seeks Reeves meeting Seventy-nine retail bosses sign letter to finance minister Say retail faces 7 billion pounds in extra annual costs from 2025 Want to work with government to find solution LONDON, Nov 19 (Reuters) - Britain's biggest retailers have written to finance minister Rachel Reeves to warn her that last month's budget will make both higher prices and job losses a certainty and dent investment.
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Reuters - 6 days ago

UK retail industry plays down threat to food supplies from possible farmer strikes

UK retail industry plays down threat to food supplies from possible farmer strikes LONDON, Nov 18 (Reuters) - Britain's retail industry on Monday played down the likelihood of possible farmer strikes over the government's inheritance tax measure impacting food availability, saying the nation's food retailers are adept at dealing with disruption. Some farmers, angry over the new Labour government's budget measure to make them liable for inheritance tax, have threatened to disrupt food supplies, r
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Reuters - 1 week ago

UK discounter B&M says well set for Christmas with trading on improving trend

UPDATE 2-UK discounter B&M says well set for Christmas with trading on improving trend First half core earnings up 2% to 274 mln stg Forecasts 620-660 mln stg for full year Built up stock early for Christmas trading Shares up 4% Adds shares in paragraph 6, analyst in 8, details in 11-13 By James Davey LONDON, Nov 14 (Reuters) - British discount retailer B&M BMEB.L said it was "well positioned" for the key Christmas quarter, having built up stock early to remove the risk of supply chain disruptio
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Reuters - 2 weeks ago

UK grocery sales growth slows as consumers wait for Christmas and Black Friday, says NIQ

UK grocery sales growth slows as consumers wait for Christmas and Black Friday, says NIQ UK supermarket sales up 4.0% in four weeks to Nov 2 - NIQ Says UK has a 'polarised consumer' Ocado, Lidl and M&S are fastest growing grocers Asda is the laggard LONDON, Nov 13 (Reuters) - British grocery sales growth slowed over the last month as shoppers held back spending in anticipation of upcoming Christmas festivities and Black Friday promotions, industry data showed on Wednesday.
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Reuters - 2 weeks ago

CORRECTED UK grocery inflation higher again as countdown to Christmas begins

CORRECTED (OFFICIAL)-UPDATE 2-UK grocery inflation higher again as countdown to Christmas begins Corrects second bullet point and paragraph 6 after Kantar corrected its release to state UK grocery sales rose 2.3% over the four weeks to Nov. 3, not 2.0% Grocery inflation 2.3% in four weeks to Nov. 3, says Kantar UK grocery sales up 2.3% in period Some consumers starting Christmas shopping early Ocado and Lidl are fastest growing UK grocers Asda remains the laggard By James Davey LONDON, Nov 12 (R
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Reuters - 2 weeks ago

UK grocery inflation edges higher again, says Kantar

UK grocery inflation edges higher again, says Kantar LONDON, Nov 12 (Reuters) - British shoppers faced increased pressure on their budgets last month after grocery price inflation edged higher again, industry data showed on Tuesday. Market researcher Kantar said annual grocery price inflation was 2.3% in the four weeks to Nov. 3, having been 2.0% in the previous four-week period .
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Reuters - 2 weeks ago

UK supermarket Asda 'lost the plot' but is fixable, says chairman

UK supermarket Asda 'lost the plot' but is fixable, says chairman By James Davey LONDON, Nov 8 (Reuters) - Asda, Britain's third largest supermarket, "lost the plot" but can be fixed, its chairman said on Friday as it reported another slide in sales and warned measures in last week's budget would cost the company 100 million pounds ($130 million).
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Reuters - 2 weeks ago

UK's Sainsbury's warns budget tax rises will be inflationary

UPDATE 3-UK's Sainsbury's warns budget tax rises will be inflationary Flags 140 mln stg hit to 2025/26 tax bill First half 2024/25 profit up 3.7% Q2 like-for-like sales, ex fuel, up 4.2% Expects strong Christmas performance Maintains full-year 2024/25 profit forecast Recasts with CEO's comments on budget paragraphs 1 to 5 By James Davey LONDON, Nov 7 (Reuters) - The boss of British supermarket Sainsbury's SBRY.L said changes to national insurance made by the government in last week's budget will
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Reuters - 3 weeks ago

Britain’s Sainsbury’s extends Aldi price match scheme to convenience stores

Britain’s Sainsbury’s extends Aldi price match scheme to convenience stores LONDON, Nov 4 (Reuters) - Sainsbury’s said it has become the first UK supermarket group to extend a scheme matching the prices of German-owned discounter Aldi on hundreds of products into its convenience stores, upping the competitive ante ahead of the key Christmas trading season.
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Reuters - 3 weeks ago

Britain's Tesco intends to return $902.5 mln via additional share buyback

Britain's Tesco intends to return $902.5 mln via additional share buyback Nov 1 (Reuters) - Tesco TSCO.L , Britain's biggest supermarket group, said on Friday that it intended to return 700 million pounds ($902.51 million) to shareholders through an incremental share buyback, as it had completed its banking operations sale to Barclays BARC.L . The new programme is expected to start after the completion of the current 1 billion pound share buyback, Tesco said.
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Reuters - 3 weeks ago

Tesco Intends To Return £700m To Shareholders Via Share Buyback

BRIEF-Tesco Intends To Return £700m To Shareholders Via Share Buyback Nov 1 (Reuters) - Tesco PLC TSCO.L : TESCO PLC - STRATEGIC PARTNERSHIP & SALE OF BANKING BUSINESS TESCO PLC - TO RETURN £700M TO SHAREHOLDERS VIA SHARE BUYBACK Source text: ID:nRSA4785Ka Further company coverage: TSCO.L
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Reuters - 3 weeks ago

Sainsbury's sells Argos Financial Services cards portfolio for $934 mln

UPDATE 1-Sainsbury's sells Argos Financial Services cards portfolio for $934 mln Adds detail in paragraphs 2 to 8 Oct 31 (Reuters) - British supermarket Sainsbury's SBRY.L said it has sold its Argos Financial Services cards portfolio to NewDay Group for an expected 720 million pounds ($934 million) in line with its strategy to focus on its core retail business.
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Reuters - 4 weeks ago

UK's Reeves commits to lower property taxes for retail, hospitality and leisure

UPDATE 1-UK's Reeves commits to lower property taxes for retail, hospitality and leisure Recasts with Reeves' commitments on business rates from 2026-27 LONDON, Oct 30 (Reuters) - British finance minister Rachel Reeves on Wednesday committed to lower business rates for high street stores to help "level the playing field" with their online rivals. Predominantly bricks-and-mortar retailers have for years complained that business rates - a property tax charged on most commercial properties to fund
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Reuters - 4 weeks ago

UK retailer Next expects to join 1 bln pound profit club

UPDATE 3-UK retailer Next expects to join 1 bln pound profit club Q3 full price sales up better-than-expected 7.6% Sales boosted by arrival of colder weather Raises Q4 sales guidance to up 3.5% Shares up 1.4% Adds shares in paragraph 8, analyst comment 9-10, 14 By James Davey LONDON, Oct 30 (Reuters) - Next NXT.L said on Wednesday it expected to report annual profit in excess of 1 billion pounds ($1.3 billion) for the first time in its history in its current financial year, underscoring the succ
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