Asda has appointed Stuart Rose, the Conservative peer and former boss of Marks & Spencer, as its first dedicated chairman in more than 20 years (The Guardian). The former boss of Marks & Spencer has been appointed chairman of Asda as the supermarket chain searches for a replacement chief executive (The Times £). Retail veteran Lord Stuart Rose has been appointed chair of Asda, the UK’s third-largest supermarket group (The Financial Times £).
The new chairman of Asda, the retail grandee Lord Stuart Rose, has said the appointment of a chief executive is a “priority” for the board. (Sky News)
The appointment will spark speculation that the billionaire Issas could eventually merge Asda with their petrol forecourts business EG Group (The Daily Mail).
Sales at Pret A Manger rose above their pre-pandemic levels last week for the first time in a sign that the economy has bounced back from the Covid downturn (The Times £). The figures included London’s financial districts, airports and West End shopping districts, as well as regional towns, northern counties and Scotland, and marked the first time that sales have returned to pre-Covid levels (The Telegraph).
Pets at Home is expecting its “most successful Christmas ever” after it announced underlying profit growth of 77.2% yesterday (The Times £). Pets at Home is expecting its biggest ever Christmas, with a surge in sales of dog spa days and advent calendars, as it launches a Deliveroo-style quick delivery service to meet rising demand from new owners (The Guardian). The retailer, which sells everything pet-related from special shirts for anxious dogs to grooming services, said that pet ownership has continued to climb over the past 18 months and ‘is materially increasing the size of our addressable market’ (The Dail Mail). Pets at Home has shrugged off supply chain headaches as a sustained rise in pet ownership over the past 18 months shows no signs of slowing - helping it deliver bumper sales and profits (Sky News).
The FT writes: “With Pets at Home’s revenue growing 18 per cent to £677.6m in the first six months of 2021, there is little sign that this sense of momentum is slowing. There’s been a bit of uncertainty weighing on the shares with the recently announced departure of its chief executive next year ,but if the company can appoint a good successor then it looks like one to stash in our doggy bag.” (The Financial Times £)
National Lottery operator Camelot on Tuesday reported record half year sales as it goes into the final weeks of one of the toughest competitions for the new UK lottery licence in its 27 year history (The Financial Times £). The third successive year of growth for its main Lotto draw and public support for the lottery-funded Team GB at the Tokyo Olympic and Paralympic Games have driven record first-half National Lottery ticket sales, Camelot said yesterday (The Times £). Nearly £4bn worth of National Lottery tickets were sold by the company in the six months to September 30, a rise of more than £100m on the same period last year when many retail outlets that typically sell lottery tickets were forced to close (The Daily Mail)
Following up on The Grocer’s story yesterday - Getir is to acquire Weezy, its British rival, in the first sign of consolidation in the emerging rapid delivery industry, which allows people to have goods delivered in as little as ten minutes (The Times £). Turkish rapid grocery delivery app Getir has acquired its UK-based rival Weezy, as rival company launches and heightened competition forces consolidation in the market (The Financial Times £). The on-demand groceries business Getir is acquiring its rival Weezy, in the first sign of consolidation in the UK’s fast-growing rapid delivery market, in which companies aim to bring goods to customers in as little as 10 minutes (The Guardian).
Compass, the world’s largest caterer, is rolling out remote kitchens to tap demand from companies wanting to order food on a daily basis, as the “jury is out” on what office life will look like after the pandemic, according to its chief executive (The Financial Times £). The world’s biggest caterer has reinstated its dividend earlier than expected thanks to strong cashflow and record new business wins (The Times £). Catering firm Compass was the top performer on the FTSE 100 after it put dividends back on the menu (The Daily Mail). Catering firm Compass Group expects trade to surge following a fruitful recovery over the recent spring and summer seasons driven by the relaxation of Covid-19 restrictions (The Daily Mail)
The American maker of a “bleeding” meat-free burger has raised $500 million in a funding round (The Times £).
The FT writes about Kerry Group’s push into plant-based foods: “Kerry’s aims sound like a contradiction in terms — to make industrial food better-tasting, healthier, more natural and longer-lasting. But it believes that while shoppers still want convenience, they are demanding more nutrition and, increasingly, plant-based options.” (The Financial Times £)
The £3 chicken: how much should we actually be paying for the nation’s favourite meat, asks The Guardian? Fifty years ago, a medium broiler cost the equivalent of £11 today. Now it is less than a latte or a pint of beer, raising serious ethical and environmental questions. (The Guardian)
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