Page 20 - Stuart Rose News Today

Veteran retail boss Stuart Rose has warned the government of “unintended consequences” around encouraging supermarkets to impose price caps on food Asda chairman Lord Rose, who also ran Marks and Spencer and chaired Ocado, said “you can’t interfere in the markets” and warned of the “unintended consequences” of “relatively clumsy things”.

Northern Ireland’s 24 KFC restaurants now have their third owner in as many years as a result of a £2bn deal by supermarket giant Asda.

Targeted help, such as increased welfare payments, and a VAT cut are among measures the government could consider introducing to tackle soaring food inflation.

Regulators plan to probe Asdas £2.3billion deal for a petrol station operator amid fears it could push up fuel prices.

Asda's chairman tells our Economics Correspondent Helia Ebrahimi that he believed the government's plan to cap prices for basic foods is a political stunt - which could be illegal. 

Asda is finalising a deal to buy its sister business EG Group’s UK and Irish petrol forecourts in a deal worth £3bn, allowing the supermarket to step up its shift into convenience retailing.

Asda is set to announce a £10bn merger with sister business EG Group, the petrol stations giant, it was reported on Friday.

Operator: Greetings, and thank you for standing by. Welcome to the REX American Resources Fiscal 2023 First Quarter Conference Call.

Deal would help Asda move into convenience retailing and cut costs at merged entity by about £100m, as well as reduce EG’s debts

Today’s full year results from M&S – I still prefer to call the brand St Michael’s – suggests that the UK’S most celebrated retail operation is no longer in remission and has finally shown signs of rising like the ‘Phoenix from the Ashes’ after spending more than a decade in the ‘doldrums.’