Tesco chairman warns supermarket shelves could be empty at Christmas due to Brexit
Supermarket shelves could be empty at Christmas due to food retailers grappling with severe Brexit-related supply chain issues, the chief of one of the UK’s largest supermarkets has warned today. John Allen, chairman of Tesco, told the BBC’s World at One programme that supermarkets are struggling to source stock ahead of the busy festive period […]
Research Perspective and Analysis: Positive Outlook For Fresh Food Despite A Negative Year
By Giuseppe Parlato, Research Analyst Global sales of fresh food products have grown continuously in recent years, driven by increased demand for healthier, unprocessed products. In 2020, the impact of the COVID-19 pandemic and its consequent restrictions on consumer movements led to negative volume growth. Although a greater degree of home seclusion led to increased […]
Morrisons strikes $9.5B takeover deal with U.S. private equity group that bettered rival offer
Morrisons has agreed to a takeover offer worth £7 billion (US$9.54 billion) from U.S. private equity group Clayton, Dubilier & Rice, dropping its recommendation of a lower bid it had previously accepted from a consortium led by Fortress Investment Group. Morrisons, which started out as an egg and butter merchant in 1899, said CD&R’s offer is worth […]
THE COST OF LOST REPUTATION: The Price Of Our Loss In Afghanistan Reminds The Industry That Reputation Is A Great Store Of Value
We are not a political site here at the Pundit. Yet we think the collapse of Afghanistan is filled with lessons and warnings for people in business. Many years ago, my family business was heavily involved in the export of produce. An important employee had left the company and immediately set out to switch our […]
Burnley steps down early as interim Asda CEO
After only few months into a period in which he was supposed to hold down the role of chief executive officer for a year, Roger Burnley has stepped down from Asda. The supermarket chain has yet to find a replacement, but Burnley’s exit was agreed on by both sides, according to the company’s owners Mohsin […]
Total Produce shares tumble in London as Dole cuts IPO price range
Dole Plc on Wednesday slashed the marketed price range for its initial public offering (IPO) in the U.S., a move that reduced the fruit and vegetable grower’s targeted valuation by more than $400 million. The company said it plans to price its shares between $16 and $17 apiece, compared with the previous range of $20 […]
Covid app ‘pingdemic’ blamed for empty supermarket shelves
A rise in the numbers of British food supply workers being forced to self-isolate is being blamed for empty supermarket shelves, as shoppers become alarmed to find shelves and fridges empty. A surge in workers being alerted by the National Health Service (NHS) Covid app on their phones has hit industries hard because workers have to stay at […]
Morrisons agrees to £6.3B takeover by Fortress-led group
Morrisons, the U.K.’s fourth-largest supermarket group, has agreed to a takeover led by SoftBank-owned Fortress Investment Group that values Britain’s fourth-largest supermarket chain at £6.3 billion and tops a rival offer from a U.S. private equity firm. The offer from Fortress, along with Canada Pension Plan Investment Board and Koch Real Estate Investments, exceeds a […]
