The Co-op is to be the first major supermarket in the UK to replace single-use plastic carrier bags with lightweight compostable alternatives that shoppers can reuse as biodegradable bags for food waste (The Guardian). The bags – a stronger version of the biodegradable bags the convenience chain has been trialling since 2014 – will be rolled out within weeks to almost 1,400 stores across England, Scotland and Wales, and then to all 2,600 shops (Independent).
French retailer Casino, whose stock price has fallen by almost a third this year, said on Sunday night that it had been approached over the past few days by larger rival Carrefour about a possible tie-up but its board unanimously decided to “reject Carrefour’s approach” (Financial Times £). Carrefour, the world’s second-largest retailer by revenues, denied having made any such approach.
Tens of thousands of retail investors could decide the future of plans by Unilever to relocate its headquarters to the Netherlands (The Times £). Details of its proposal to abandon its 88-year Anglo-Dutch dual governance structure show that it needs approval from at least 75 per cent of the shares in Unilever’s UK-listed entity that participate in the vote, but also a majority of voting shareholders by number. Top shareholders in Unilever have raised fears that arcane powers may be used to swing a crucial vote to allow the company to shift its head office (Daily Mail).
Unilever’s flight to Holland could trigger the exit of other British-listed companies with a dual corporate structure, a leading shareholder has said (The Times £). The consumer goods giant behind brands such as Marmite plans to relocate its headquarters to Rotterdam. However, a top-10 shareholder said its move could “set a precedent”.
The private equity arm of Lloyds Banking Group is in talks to buy a substantial stake in Halewood Wines & Spirits as part of a deal that could value the maker of Crabbie’s ginger beer at up to £300million (Mail on Sunday). City sources said Lloyds Development Capital is toughing it out in the final stages of a sale process for Halewood – which also owns Lambrini sparkling wine and City of London Gin – with a rival bidder.
Aldi and Lidl are preparing to dismantle the dominance of Britain’s biggest supermarkets within three years despite frenzied efforts to stop them (Mail on Sunday). The German discounters are growing so fast that their combined share of the grocery market could eclipse Asda and Sainsbury’s by 2021.
Jack’s has won round one in the supermarket discounters price war according to a Guardian analysis – but Aldi is promising to fight back with cuts to match or beat the prices at the new chain launched by Tesco (The Guardian). In a price check on a basket of 18 popular items, Jack’s was cheaper than rivals Lidl, Aldi and Tesco’s main chain outlets.
The world’s biggest retailer has warned President Trump that his escalating trade war with China could force it to raise prices (The Times £). Walmart, the American owner of Asda, expressed concern that the White House’s latest proposals to launch tariffs on $200 billion of Chinese imports could cause severe economic damage across the United States.
Merger talks between Uber and Deliveroo are “potentially terrifying” for Just Eat, analysts warned as shares in the British takeaway delivery company nosedived (The Times £). A merger would lead to a “war for market share” that would be “very damaging” to Just Eat’s profits, analysts at Canaccord Genuity said.
It’s not just supermarkets feeling the pain of retail disruption – global consumer brands are feeling the heat writes Sam Chambers in an analysis piece for The Times £.
Crowdfunding platform Seedrs has claimed it outperforms “almost all” asset classes — even though its co-founder acknowledges that many of the companies seeking to raise cash would ultimately fail (The Times £). Seedrs has today released an analysis of the 577 deals completed since it launched in 2012, which it said would return an average of 12% to investors who backed a portfolio of companies on the site.
Irn-Bru maker AG Barr is hoping to show investors that Scots have not lost the taste for the fizzy orange drink now that it contains a lower sugar content (The Times £).The Glasgow-based drinks manufacturer is due to announce half-year profits on Tuesday, when it will reveal how a low-calorie version of the drink has performed.
The Sports Direct billionaire Mike Ashley has blamed “greedy” landlords for the imminent closure of three House of Fraser stores (The Times £). Ashley, who bought the chain out of administration last month for £90m, had promised to keep open four-fifths of the 59 stores.
Failed fashion brand Orla Kiely’s administrators are seeking a buyer for the business after being appointed by its creditors to get as much money as possible out of the company (Telegraph).
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