Asda’s tentative recovery in its QI results was a mainstay of the papers this morning. Total sales sales rose 0.9% although like-for-like sales fell 2.8% in the 13 weeks to April 28, marking an 11th consecutive quarter of declines at the UK’s third biggest grocer. However this was a marginal improvement on the 2.9pc slide in the previous quarter, and on the 5.8pc tumble it recorded in the three months before that. The retailer claimed its targeted price cuts are helping lure shoppers back through its doors, after several years in the doldrums. (http://www.telegraph.co.uk/business/2017/05/18/asda-claims-progress-stems-rate-sales-decline-thanks-targeted/)
The Asda figures were included in its parent company Walmart’s results and the international retail giant showed it was making progress in efforts to compete with Amazon in terms of online shopping. Walmart’s online sales shot up 63% in the quarter compared to the same period a year ago largely driven by organic growth. (https://www.ft.com/content/6168f8e6-3bd2-11e7-821a-6027b8a20f23)
Brewer Marston’s proposed £55m takeover of rival Charles Wells will grow its share of the ale market from 11% to 16% as it adds brands such as Young’s, Bombardier and McEwan’s to its stable. The takeover does not include the 200-strong pub chain owned by Charles Wells. Charles Well now plans to invest in a new brewery in Bedford to supply the pubs. (http://www.thisismoney.co.uk/money/markets/article-4519736/55m-takeover-swoop-Young-s-beer-brewer.html)
British shoppers are bracing for an expensive future as it prepares to leave the EU according to a new report. Mintel’s British Lifestyles report, a survey which is in its 27th year, tracks consumer spending across all major markets. It found that more than 80 per cent of UK shoppers fear price rises on goods and services after Brexit, with 59 per cent specifically worried about the mounting cost of groceries. (http://www.independent.co.uk/news/business/news/brexit-latest-news-uk-consumers-retail-80-per-cent-price-rises-concern-expensive-british-shoppers-a7743066.html)
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