EasyGroup to launch budget supermarket in UK
IOL Business/ Reuters - Aug 6th, 09:42
London - EasyGroup chairman Stelios Haji-Ioannou said on Sunday he planned to open a low-cost food retail business in Britain, easyFoodstore, aimed at undercutting prices at German discount grocers Aldi and Lidl.
The founder of budget carrier easyJet said the project was a “low risk experiment” to be run out of a pilot store in south London.
“There is a gap in the food retail market - a niche below some of the current budget operators such as Aldi and Lidl,” he said in a statement.
Set to offer basic, no-brand-name, packet and tinned foods at lower prices, easyFoodstore could be rolled out on a wider basis from 2014 onwards, Stelios said.
EasyGroup, Stelios' private investment vehicle, operates its “easy” brand in several sectors including travel, leisure and hospitality.
Listed by Forbes as the third most wealthy Cypriot billionaire, Stelios is easyJet's largest single shareholder despite being at odds with the airline since he quit its board in 2010. - Reuters © Independent On-line 2013. All rights reserved.
M&S steps up convenience store roll-out
24/10/2013 - 12:08
London - Britain's Marks & Spencer will step-up expansion of its Simply Food store network as it looks to benefit from growing consumer demand for smaller, convenience outlets, it said on Tuesday.
UK clothing label George hits local shelves, today
23/10/2013 - 12:51
Massmart will open the doors to three George pop up stores today, to give South African consumers a taste of the famous British brand of clothing.
Sainsbury’s plans ‘dark store’ UK
15/10/2013 - 11:14
London - J Sainsbury, Britain's No. 3 supermarket, plans to open its first distribution centre dedicated to online grocery orders in response to rapidly increasing demand in south-east England.
Planet Retail’s take on Tesco H1 results
04/10/2013 - 15:45
On Tesco’s H1 results, David Gray, Retail Analyst at Planet Retail, commented: “As expected, Tesco reported a drop in UK like-for-like sales driven by subdued general merchandise sales, which are continuing to suffer, albeit like-for-like sales showed improvement in the second quarter. Nevertheless, food sales held up fuelled by warm weather in July/August alongside a new food-focused ‘Love Every Mouthful’ marketing campaign which launched during the half. We expect to see further positive news on food sales in the months ahead as improvements to product ranges come through.
Tesco leads European shares lower
04/10/2013 - 11:33
London - Tesco led European shares lower early on Wednesday after the world's third largest retailer's quarterly revenues flatlined as its turnaround plan failed to bear fruit, prompting earnings downgrades.