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☆ Store worker of 20 years was fired for not paying for grocery bags at the self-checkout
▼ + stars: | 2024-04-18 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

An employee of a UK grocery chain was fired for not paying for grocery bags at checkout. He reportedly took multiple bags which each cost less than $1. AdvertisementAn employee of the UK grocery chain Sainsbury's, who had worked there for nearly 20 years, was fired after he didn't pay for plastic grocery bags at self-checkout, the BBC reported. The employee reportedly purchased £30 ($37) of food, pillows, and bedding from the store after working the night shift. When he went to pay at the self-checkout, he clicked "zero bags used" despite having used multiple bags.

Persons: — Organizations: Service, BBC

☆ My supermarket removed all the self-service checkouts. It's annoyed some customers — but the staff prefer it.
▼ + stars: | 2024-01-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +5 min

Booths, a UK supermarket chain, recently removed almost all its self-service checkouts. No more self-checkoutsAligning with those values is part of the reason that Booths has just removed all self-service checkouts. AdvertisementObviously, you have to have more staff on than if you had a lot of self-service machines, but you always had to have someone manning the self-service tills anyway. A lot of our customers are older and find self-service machines really confusing. I don't find the work busier than when we had self-service machines, but there is a drawback.

Persons: Marti Stelling, —, it's, There's, we're, It's, Marti, Manning, checkouts Organizations: Service Locations: Rippon , North Yorkshire

European markets dipped for a second straight session on Wednesday, as last year's rally continues to stutter. The Stoxx 600 index provisionally closed 0.17% lower, with sectors trading in mixed territory. Mining stocks remained one of the week's worst performers, down 1.07%, while media stocks rose 0.75%. Asia-Pacific markets mostly turned lower overnight, although Japan stocks extended gains after notching a 33-year high in the previous session. In recent weeks, traders have boosted their bets on a Federal Reserve pivot, bracing for rate cuts as soon as March.

Organizations: Federal Reserve, Group Locations: Asia, Pacific, Japan, U.S

☆ UK retail sales slide again in October in new blow for economy
▼ + stars: | 2023-11-17 | by ( Andy Bruce | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy. Retail sales volumes dropped 0.3% month-on-month, following a revised 1.1% decline in September that was worse than first estimated, the Office for National Statistics said. Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month in October. Overall the figures fitted with the darkening outlook for Britain's economy, with economic growth stagnant and strong price pressures now fading, albeit slowly. The figures also showed a small downward revision in retail sales for the third quarter.

Persons: Phil Noble, Spencer, James Davey, William James Our Organizations: Shoppers, REUTERS, National Statistics, Reuters, Investors, Bank of England, Retailers, Britain, Tesco, Thomson Locations: Altrincham, Britain

☆ Homesick Americans living in the UK should head to Costco for snacks
▼ + stars: | 2023-11-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Costco sells some American brands and products that aren't commonly available in the UK. Candy brands I saw at Costco included Red Vines licorice, Mike and Ike candy, and Welch's Fruit Snacks. A five-pack of Kraft Macaroni & Cheese Dinner costs £11.19 (around $2.75 per box) on the UK website, whereas on its US website, Costco charges $18.99 for 18 boxes of around the same weight – or just over $1 per box. AdvertisementAdvertisementBrits can still get their tea fixThere were, however, plenty of British products on sale, showing how it had adapted its assortment to UK shoppers. Grace Dean/Insider; Will Martin/InsiderLike many supermarkets in the UK, Costco was keen to point out the local origins of some of its own-brand Kirkland Signature produce as consumers pay more attention to food miles and supporting domestic agriculture.

Persons: —, Jerry's, Kraft, Will Martin, Candy, Red Vines, Mike, Ike, I'd, Grace Dean, Tetley, Heinz, Heinz Beanz, Jacks Organizations: Costco, Kraft, &, Service, Kraft Mac, Tesco, Asda, YouTube, Red, pretzels, San Francisco Pretzel Company, Daily, San Francisco Bay Coffee, Kraft Macaroni, Yorkshire Tea, Kirkland, Aberdeen Angus Locations: London, Puerto Rico, Canada, American, San Francisco Bay, South Croydon, Japan

☆ M&S echoes UK peers on early Christmas demand, Ahold looks to loyalty
▼ + stars: | 2023-11-08 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A logo of food and clothes' retailer Marks and Spencer (M&S) is seen at a branch in London, Britain March 10, 2022. "We are definitely seeing good sales performance in our Christmas ranges," CEO Stuart Machin told reporters after M&S reported much better-than-expected first half results. BIGGER FAMILY CHRISTMASM&S's Machin said research showed about 20% of its customers wanted to stock up on Christmas food products "slightly earlier" this year, with most of those customers planning for a bigger family Christmas. Still, the retail bosses are hopeful of strong demand for food, drinks and presents from now until the end of December. Reporting by James Davey; Editing by Sarah Young, Kate Holton and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Marks, Spencer, Toby Melville, Ahold, Stuart Machin, S's Machin, I'm, Machin, James Davey, Sarah Young, Kate Holton, Emelia Organizations: REUTERS, Major, British Retail Consortium, Marks, Tesco, Accenture, Deloitte, PwC, Thomson Locations: London, Britain, Europe, United States

☆ UK grocery inflation in single digits for first time this year -Kantar
▼ + stars: | 2023-11-07 | by ( James Davey | ) www.reuters.com time to read: +3 min

Market researcher Kantar said annual grocery inflation was 9.7% in the four weeks to Oct. 29, down from 11% in last month's report. The Kantar data provides the most up-to-date snapshot of UK grocery inflation. Kantar said grocery sales in the four weeks to Oct. 29 rose by 7.4% compared with last year. Spending on promotions hit 27.2% of total grocery sales – the highest level since Christmas last year. UK supermarkets' market share and sales growth (%)Source: Kantar($1 = 0.8061 pounds)Reporting by James Davey Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Kantar, Fraser McKevitt, Rishi Sunak, James Davey, Mark Potter Organizations: REUTERS, Bank of England, Barclays, Thomson Locations: Altrincham, Britain

☆ Walmart staffed up for holidays; US retailers cautious about economy
▼ + stars: | 2023-10-16 | by ( Siddharth Cavale | ) www.reuters.com time to read: +3 min

"We're staffed and ready to serve the customers this holiday season," Maren Dollwet Wagonner, senior vice-president of people, said in a LinkedIn postlast week. Walmart, like other retail chains, has been cautious in its holiday season outlook, saying customers are stressed by high food prices, depleted savings and higher interest rates. The statement from America's largest private employer with 1.7 million employees offered analysts insight into possible holiday shopping results. Except for Amazon, which plans to hire 250,000 holiday season workers, several other U.S. chains including Macy's have issued muted hiring plans for the period. While U.S. retail job applications are up 46%, job openings are down 25% and actual retail hiring is down by 12% in the year through September, according to talent acquisition company iCIMS.

Persons: Kamil Krzaczynski, sprees, We're, Maren Dollwet Wagonner, Andrew Challenger, Neil Costa, Walmart's, Spencer, Siddharth Cavale, Mark Porter, Richard Chang Organizations: Walmart, REUTERS, Challenger, U.S, Walmart's LinkedIn, Thomson Locations: Chicago , Illinois, U.S, Britain, New York

☆ UK retailers demand government action on rising crime
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 1 (Reuters) - Some 88 UK retail leaders, including the bosses of Tesco (TSCO.L), Sainsbury's (SBRY.L) and Marks & Spencer (MKS.L), have signed a letter to interior minister Suella Braverman, demanding action over rising rates of retail crime. Rising crime is increasingly becoming a political issue in Britain ahead of an expected national election in 2024. It also put the scale of retail theft at 953 million pounds ($1.2 billion), despite over 700 million pounds in crime prevention spending by retailers. This would require police forces to record all incidents of retail crime. The industry also wants greater prioritisation of retail crime by police forces across the UK.

Persons: Peter Nicholls, Spencer, Suella Braverman, “, Helen Dickinson, John Lewis, James Davey, Alison Williams Organizations: REUTERS, Tesco, Industry, British Retail Consortium, Conservative, John, John Lewis Partnership, Waitrose, Aldi, Thomson Locations: Weybridge, Britain, Manchester

☆ Price-conscious Britons boost Lidl GB revenues by 19%
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] People queue outside Lidl supermarket in Streatham, as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 29, 2020. Lidl GB and rival discounter Aldi UK are Britain's fastest growing grocers, according to market researcher Kantar. For the 12 months to Feb. 28, 2023, Lidl GB said it welcomed an additional 1.5 million customers, driving revenues up to 9.3 billion pounds, but the company, part of Germany's Schwarz retail group, posted a pre-tax loss of 76 million pounds ($94.97 million). Lidl GB, Britain's sixth largest supermarket with a market share of 7.6%, has in the past said it is relaxed about its relatively low profitability because of its long-term outlook. It said in a statement it had the full support of its parent company, adding it has invested 533 million pounds in Britain in the year and opened over 50 new stores.

Persons: Hannah McKay, discounter, Kantar, Germany's Schwarz, Sarah Young, James Davey, Elizabeth Piper Organizations: REUTERS, discounter Aldi, Tesco, Lidl, Thomson Locations: Streatham, London, Britain, British, Germany's

☆ Waitrose cuts more prices as Britain's food inflation picture improves
▼ + stars: | 2023-09-10 | by ( James Davey | ) www.reuters.com time to read: +2 min

UK food price inflation reached its highest since 1977 in March at over 19%. This official measure slowed to 14.9% in July and, while industry data showed it at 11.5% in August, rising food prices remain a major strain on the finances of many households. Monthly industry data has consistently shown Waitrose losing market share and underperforming rivals including industry leader Tesco (TSCO.L) and No. Earlier this month researcher Kantar said Waitrose had a UK grocery market share of 4.4%, down 0.2 percentage points year-on-year. While all British supermarkets have reduced the prices of some products in recent months, researcher the Institute of Grocery Distribution has said that UK food price inflation will still be around 9% in December.

Persons: Peter Cziborra, Kantar, Waitrose, James Davey, Emelia Sithole Organizations: Waitrose, REUTERS, Bank of England, John Lewis Partnership, Tesco, Aldi, Lidl, of Grocery, Retailers, Thomson Locations: Harpenden, Britain, India

☆ The UK's biggest grocery chain is offering body cameras to staff as it seeks to fight the 'scourge on society' of retail crime and abuse to staff
▼ + stars: | 2023-09-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Tesco is giving all its frontline staff the chance to wear body cameras, The Mail on Sunday reported. Retail crime, including both theft and abuse of workers, is soaring in both the UK and US. "Crime is a scourge on society, and an insult to shoppers and retail workers," Tesco CEO Ken Murphy wrote in an opinion piece for The Mail on Sunday. He also demanded changes in the law, such as making abuse and violence towards retail workers a specific offence in itself. Other British grocery chains, including Sainsbury's, the Co-op, and Waitrose, have also offered body cameras to staff.

Persons: Ken Murphy, Murphy, John Lewis Organizations: Tesco, Service, Waitrose, Ireland, British Retail Consortium, Walgreens Locations: Wall, Silicon, The

☆ It Is Impossible to Break Your Phone Addiction Now
▼ + stars: | 2023-08-15 | by ( Paris Marx | ) www.businessinsider.com time to read: +12 min

In many ways, we've so thoroughly integrated the devices into our lives, it's become impossible to break free. It's not just people's personal lives that are affected, but their work lives, too. To enter the store, customers need to download a separate app, connect it to their Amazon account, load a credit card, and swipe into the location. Instead, it lets customers register to scan their own items while they shop and pay from their phone. When internet connections aren't reliable, phone batteries run low, or you don't have a smartphone, these changes actually make everything much harder.

Persons: Steve Jobs, —, it's, Lola Shub, would've, we're, Shub, we've, rehire, they've, Paris Marx Organizations: Luddite, Club, The New York Times, Amazon, Tesco, Washington Examiner, National Zoo, team, Washington Nationals, Apple, Google, Australia, Transportation Locations: Brooklyn, New York City, London, United Kingdom, United States, Washington , DC, Canada, San Francisco, Philadelphia, Paris

☆ I'm a 21-year old student living in Scotland. I have no student debt, and my $900 monthly budget pays for my fitness club, nights out, and frequent travel.
▼ + stars: | 2023-07-26 | by ( Alexandra York | ) www.businessinsider.com time to read: +6 min

Joshua is a 21-year-old from Berlin who lives in Glasgow, Scotland to attend school. We asked Joshua, a 21-year-old Berlin resident who attends the University of Glasgow, about his biggest spending categories and cost differences between Europe and America. Occupation: Student and university employeeMonthly income: £700 (about $900), plus a £200 (about $250) stipend from his parentsStudent debt: $0. Now I live in Glasgow, Scotland for school. What's the biggest cost difference you've noticed between Germany, Scotland, and the US?

Persons: Joshua, Gen Zers, I'm, we're, we'll, I've, she's Organizations: Service, University of Glasgow, Occupation, Student, University of Glasgow ., Student Enterprise, Tesco, Asda, European Union Locations: Berlin, Glasgow, Scotland, Wall, Silicon, Europe, America, Germany, Sainsbury's

☆ Some San Francisco Safeway stores added gates barring shoppers from leaving unless they scan a receipt. It's an anti-theft measure that has spread across the UK.
▼ + stars: | 2023-07-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Safeway has installed receipt-scanning gates at some supermarkets in the San Francisco Bay Area. The technology has already been rolled out at multiple UK retailers, and shoppers are skeptical. A Reddit post from this spring, meanwhile, showed the gates at another Safeway location in San Francisco. Security gates at self checkouts is more common in the UKAcross the Atlantic in the UK, a handful of retailers already use the receipt-scanning gates at self-checkout areas. Some people have compared the security gates to Costco's receipt-checking system.

Persons: that's, Primark, Betty Yu, Alex Bitter Organizations: Safeway, San Francisco Bay Area, Service, California Safeway, San Francisco Chronicle, University of California, Daily, Morrisons, Costco, Sun, Twitter, Walgreens, CBS, KPIX, Area Locations: San Francisco Bay, Wall, Silicon, Bay, Berkeley, San Francisco ., Edinburgh, San Francisco

It leaves Kretinsky, who submitted a revised offer over the weekend proposing the equity injection, as the only bidder. The cash injection plan would lead to a 4.7 billion-euro reduction in overall debt, Casino said. Casino is saddled with net debt of 6.4 billion euros and is teetering on the brink of default. The board meeting followed a separate meeting between Casino's creditors and CIRI - France's finance ministry body that helps distressed companies and their creditors draw up restructuring plans. Kretinsky and Ladreit de Lacharriere would control the investment vehicle behind the 1.2 billion-euro equity injection, a source said.

Persons: Daniel Kretinsky, Kretinsky's, Xavier Niel, Jean, Charles Naouri, Kretinsky, Niel, Matthieu Pigasse, Moez, Alexandre Zouari, Casino, Marc Ladreit de, Ladreit, Mathieu Rosemain, Mike Harrison, Rosalba O'Brien Organizations: Casino, 3F, Attestor, French, Monde, Fnac, Metro, Forbes, Thomson Locations: Czech, PARIS, French, Paris, Casino, Britain, France, Germany

☆ UK consumer group calls for government action on grocery prices
▼ + stars: | 2023-07-16 | by ( James Davey | ) www.reuters.com time to read: +3 min

says supermarket prices have risen 25.8% in two yearsSome prices have jumped by as much as 175%, consumer group saysRetailers say they have absorbed cost increasesLONDON, July 17 (Reuters) - British consumer group Which? has urged the government to take action to support households when the competition watchdog publishes its review of grocery pricing, saying some food prices have jumped by as much as 175% since 2021. found that supermarket prices rose by 25.8% between June 2021 and June 2023. Food prices have been driven up by increased costs for animal feed, fertiliser and fuel as well as energy and labour. While the UK government has raised concerns about soaring food prices it has said it was not considering imposing price caps.

Persons: Phil Noble, Jeremy Hunt, Helen Dickinson, James Davey, David Goodman Organizations: REUTERS, Tesco, Asda, Waitrose, Markets Authority, CMA, British Retail Consortium, Thomson Locations: Altrincham, Britain, British, Morrisons, Aldi, Europe, Hungary

☆ JPMorgan reveals its 'pecking order' for the second half including these high-yielding global stocks
▼ + stars: | 2023-07-10 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

JPMorgan has named a raft of European stocks it described as having high yields, strong balance sheets and safe dividends, such as BT Group , Bayer and Sainsbury's . In a July 3 note detailing its outlook for the second half of the year, analysts led by Mislav Matejka stated: "Our pecking order for 2H is: bullish on Staples, Utilities, Telecoms and Healthcare, European Energy could hold up well." The bank said international markets had outperformed the U.S., adding that it sees a "significant valuation discount in International vs US stocks." Its European Sustainable yield basket — made up of 40 "high- and sustainable-yielding European stocks, with safe dividends and strong balance sheets" — include stocks across the bank's preferred sectors. JPMorgan also chose a number of "cheap" global sectors it expects to outperform, including telecoms, energy and staples.

Persons: Mislav Matejka, JPMorgan's, J Sainsbury, Banks, Michael Bloom Organizations: JPMorgan, BT Group, Bayer, Sainsbury's, Healthcare, European Energy, International, Novartis, Sanofi, Telefonica, Telia Locations: Staples, Utilities, Swiss, Norwegian, Spanish, Swedish, Europe

☆ Britain's Waitrose joins forces with Uber Eats for rapid delivery
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 11 (Reuters) - British upmarket supermarket group Waitrose has teamed up with rapid delivery firm Uber Eats (UBER.N) to provide its groceries to shoppers' homes in as little as 20 minutes, the companies said on Tuesday. Waitrose, part of the employee-owned John Lewis Partnership, said the "multi-year" partnership launched on the Uber Eats platform in five London stores and will roll out to over 200 stores by the end of August. It peaked at about 15% during the pandemic but has since come off to 10.4%, according to market researcher NIQ. Waitrose said the deal with Uber Eats builds on its existing partnership with Deliveroo (ROO.L) and its own online shopping business. Uber Eats already partners with UK supermarkets Sainsbury's, (SBRY.L), Asda, Morrisons, the Co-op and Iceland.

Persons: Uber, Online's, James Davey Organizations: Waitrose, John Lewis Partnership, Deliveroo, Asda, Morrisons, Thomson Locations: London, Britain, Iceland

☆ Sainsbury's says UK food inflation falling as sales rise
▼ + stars: | 2023-07-04 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies Q1 like-for-like sales up 9.8%Says has returned to volume growthKeeps profit guidance for full yearLONDON, July 4 (Reuters) - Sainsbury's (SBRY.L), Britain's second largest supermarket group, said on Tuesday food inflation was starting to fall as a return to volume growth helped power a 9.8% rise in quarterly underlying sales. The group, which has a 15% share of Britain's grocery market, also maintained guidance for a 2023-24 underlying pretax profit of 640-700 million pounds ($812-$888 million) versus 690 million pounds in 2022-23. "Food inflation is starting to fall and we are fully committed to passing on savings to our customers," Sainsbury's CEO Simon Roberts said, pointing to 60 million pounds in lower prices since March. Last month, market leader Tesco (TSCO.L), reported a 9% rise in first-quarter underlying UK sales and said food inflation had peaked. While the UK government has raised concerns about the surge in food prices it says it is not considering imposing price caps.

Persons: Simon Roberts, James Davey, Sarah Young, Paul Sandle, Jason Neely Organizations: Aldi, Tesco, Thomson Locations: Britain, Sainsbury's, Europe

☆ Britain's M&S the latest supermarket to cut prices
▼ + stars: | 2023-06-19 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies M&S cuts prices of 70 products, holds prices of 150Morrisons cuts prices of 47 productsMoves follow other reductions across sectorBank of England keeping close eye on food inflationLONDON, June 19 (Reuters) - Marks & Spencer (MKS.L) on Monday became the latest supermarket group in Britain to cut food prices, adding to signs that a surge in inflation is set to abate. M&S cut the price of 70 staple products, such as beef mince, Greek style yoghurt, salmon fillets, chickpeas and tortilla wraps, by between 3% and 25%. Also on Monday, Morrisons, Britain's fifth largest supermarket group, said it was cutting the prices of 47 products by an average of over 25%. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Spencer, Rishi Sunak's, Kantar, James Davey, Kylie MacLellan, Susan Fenton Organizations: Bank of England, Morrisons, Tesco, Asda, Waitrose, Thomson Locations: Britain

☆ British supermarket Morrisons cuts prices of nearly 50 products
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 19 (Reuters) - British supermarket Morrisons said on Monday it was cutting the prices of 47 products by an average of over 25%, in another sign that a surge in inflation might be set to abate. Morrisons, Britain's fifth largest supermarket group, said products subject to the latest price cuts included beef mince, ham, tomatoes, spinach and wholemeal pittas. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. 2 Sainsbury's (SBRY.L) reduced the price of toilet paper, and upmarket grocer Waitrose reduced the price of over 200 products. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Rishi Sunak's, Kantar, James Davey, Alistair Bell Organizations: British, Morrisons, Bank of England, Tesco, Asda, Waitrose, Thomson

☆ Explainer: Why is UK food inflation so stubbornly high?
▼ + stars: | 2023-06-16 | by ( James Davey | ) www.reuters.com time to read: +4 min

While market leader Tesco (TSCO.L) said on Friday there were "encouraging early signs" that food inflation was starting to ease across the market, it remains stubbornly high, running at over 19% in April, according to the most recent official data. Below are possible reasons why:NOT ALL COMMODITY PRICES ARE FALLINGSome global commodity prices have fallen enabling supermarkets to pass on reductions in areas such as milk, bread, butter, pasta and oils. Generally speaking, food retailers and their suppliers operate with long-term contracts. Having eventually secured better prices, suppliers are reluctant to give up those hard won gains. Some politicians and trade unions have raised concerns about profiteering by food retailers, saying they have kept prices high despite falls in commodity, energy and shipping costs.

Persons: Andrew Bailey, reassurances, Ken Murphy, Andrew Opie, Tesco's Murphy, James Davey, David Evans Organizations: Bank of England, Tesco, Food and Agriculture Organization, United Nations, British Retail Consortium, THE, Reuters, Brexit, London School of Economics, Supermarkets, Markets Authority, Thomson Locations: Britain, China, Japan, BREXIT, London, Brussels

☆ UK supermarket Asda freezes prices of 500 products
▼ + stars: | 2023-06-13 | by ( James Davey | ) www.reuters.com time to read: +2 min

Prime Minister Rishi Sunak has set a 2023 target to halve overall inflation but the goal has been undermined as inflation has remained stubbornly high, particularly food inflation. Overall UK consumer price inflation ran at 8.7% in April, the most recent official data showed, while food and drink inflation was 19.1%, just below a 46-year high. Food retailers have said they expect prices to rise in 2023 overall but with the rate of inflation declining through the year. Last week the French government secured a pledge from 75 top food companies to cut prices on hundreds of products. Last month, British finance minister Jeremy Hunt met food manufacturers to raise concerns about the surge in food prices, but no formal price controls were proposed.

Persons: cornflakes, Rishi Sunak, Clive Black, Jeremy Hunt, Kantar, James Davey, Sarah Young, Mark Potter Organizations: Grocers, Asda, Tesco, Foods, Waitrose, Shore Capital, Thomson

☆ UK supermarket Asda to buy petrol stations operator EG Group UK
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: +1 min

British supermarket group Asda said it would buy petrol station operator EG Group's UK and Ireland business to accelerate its move into the convenience sector, creating a company with combined revenues of nearly 30 billion pounds ($38 billion). Asda, Britain's third-largest grocer, and EG are both owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital. The deal, which includes around 350 petrol stations and over 1,000 food-to-go locations, values EG at 2.27 billion pounds, including debt, the groups said on Tuesday. 2 supermarket and the deal will enable it to roll out Asda Express across the EG petrol estate. Since the Issa brothers bought Asda in 2021, 166 EG sites have already been converted to the "Asda on the Move" format.

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