Shoppers prepare for £4.2bn Christmas supermarket sweep, writes The Times (£) on yesterday’s market share figures. Shoppers will spend an estimated £4.2 billion on groceries next week, according to data that offers some cheer for supermarkets (The Times £). British shoppers have been splurging on food and alcohol in the run up to Christmas, despite grocery inflation standing at 3.6pc – the highest level since 2013 (The Telegraph). British shoppers face further pressure from rising food prices ahead of Christmas, the latest quarterly data from Kantar Worldpanel showed on Tuesday, as grocery price inflation hit another four-year high (The Financial Times £). Shoppers in the UK will spend a record £4.2bn on food and drink in the final week before Christmas, shrugging off higher prices caused by the fall in the value of the pound since the EU referendum (The Guardian).
The release yesterday of the latest consumer data from Kantar and Nielsen proved that while there is certainly no blood on the high street, things do not exactly look rosy (The Times £)
Another 404 people have lost their jobs at Palmer & Harvey after the administrator to the wholesaler was unable to find a buyer for parts of the business (The Times £). More than 400 more people have lost their jobs at the groceries wholesaler Palmer & Harvey less than a fortnight before Christmas as administrators’ attempts to sell part of the business failed (The Guardian).
For years, property and retail analysts have wondered if Unibail-Rodamco would try to buy Hammerson or Intu as a way into the British market. In the end it went for neither… The $27.4 billion acquisition makes the Hammerson and Intu merger announced last week look like a battle for the consolation prize (The Times £). It is a game changer for the entire retail and property sectors and proves that if Lowy thinks it’s a time to sell, after almost six decades of ownership, the industry is guaranteed for more upheaval in the near future (The Telegraph).
Westfield sale looks like a kneejerk reaction to the Amazon age. The rush to consolidate by owners of large shopping centres suggests they are seeking protection from the rise of online rivals (The Guardian). The billionaire tycoon behind shopping centre group Westfield has agreed to sell the company for £18.5billion as traditional stores face an onslaught from online rivals (The Daily Mail).
European commercial property giant Unibail-Rodamco’s $24.7bn acquisition of Australia’s Westfield shopping malls is the biggest example yet of consolidation as the sector’s weapon of choice in the fight against online retailers. But there is no guarantee that scale is a solution. Westfield is a strong brand in a weak industry (The Financial times £).
Westminster City Council is to force restaurants to seek planning permission if they heavily use food delivery apps. Businesses will face formal enforcement if their deliveries reach too high a volume and disturb local residents. (The BBC)
A unit of Thailand’s Thai Beverage has emerged as the sole company to bid for a stake in Sabeco, Vietnam’s biggest beer producer, marking an underwhelming response to the Southeast Asian country’s biggest and most closely watched privatisation this year. (The Financial Times £)
Tesla shares gained some fizz on Tuesday as Pepsico made a reservation for 100 Tesla electric semi trucks. (The Financial Times £)
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