Latest news with #discountretailer
Daily Mail
22-07-2025
- Business
- Daily Mail
Lidl poised to overtake struggling Morrisons as UK's fifth largest supermarket
Lidl looks set to overtake Morrisons as the UK's fifth- largest supermarket after its market share hit a record high this summer. More than half a million new customers flocked to the discount retailer's 960 stores amid concerns over higher grocery bills. Lidl is now hot on the heels of Morrisons after its slice of the market hit 8.3 per cent over the three months to July 13, according to industry research group Worldpanel. Lidl sales over the period were 11.1 per cent higher than a year earlier when its share of the market was 7.8 per cent. The surge saw it further narrow the gap with rival Morrisons, whose market share has fallen from 8.7 per cent to 8.4 per cent in the past year, the report showed. Morrisons has already lost its position as the fourth-biggest grocer in Britain to Aldi. Nearly two thirds of households told Worldpanel they are very concerned about the cost of their grocery shopping. Price increases on key goods including cocoa and beef have ramped up pressure on supermarket chains locked in a bitter battle to retain shoppers. Morrisons' slip comes as boss Rami Baitieh attempts to engineer a recovery at the private-equity owned group. Last month, he said it had 'bounced back' after its technology supplier Blue Yonder was hit by hackers in November, throwing its stock systems into disarray. Morrisons has lost sales and market share to cheaper rivals since its takeover by Clayton, Dubilier & Rice (CD&R) in a debt-fuelled £7billion deal in October 2021. After Labour piled on costs for retailers at the Budget last year, Morrisons cut more than 350 jobs across its cafes, convenience stores, florists and fresh food counters, in March. The figures also underscored the woes facing Britain's third-largest grocer, Asda. The firm, also owned by private equity, saw sales plunge 3 per cent from £4.4billion to £4.25billion over the past three months, while its market share fell to 11.8 per cent. The dire performance came after executive chairman Allan Leighton insisted the 'green shoots' of recovery are appearing as it slashes the price of thousands of products and improves stock levels. A spokesman for Lidl said the record market share was 'a clear signal that shoppers are voting with their feet. 'This milestone reflects our long-standing position as the fastest-growing bricks-and-mortar supermarket in the UK, as well as our commitment to offering high quality, affordable produce – which is why we've attracted more than half a million new customers.' Meanwhile, Tesco improved its share to 28.3 per cent as sales grew by 7.1 per cent, the fastest rate since December 2023. And Britain's number two supermarket Sainsbury's saw sales climb by 5.3 per cent, putting its market share at 15.1 per cent. Tesco boss Ken Murphy has warned that Tesco was ready to take a £400million hit to profits this year as the competition hots up.
The Sun
28-06-2025
- Business
- The Sun
Lidl is launching £6.99 middle aisle decoration that bathes your garden in an ‘atmospheric glow' & lasts all year round
LIDL is launching stunning new middle aisle garden lights for just £6.99. Just in time for the summer, the sale comes as part of a budget party release of items from the discount retailer. The Livarno Home Solar Light Decorations will be available in Lidl stores from Sunday July 6. They come in a variety of styles, where buyers can choose from birds, butterflies, dragonflies, or jars hanging from the ornament. The lights, intended to brighten up gardens, are described as "atmospheric decoration with soft colour-changing light". Features include an illumination time of eight hours when fully charged, ability to automatically turn on at dusk, with six long-life LEDs that are splashproof (IPX4). The lights can also be switched off manually, and come with instructions, as well as a replaceable Ni-MH battery that is 1.2V/300mAh). They come at a total hanging height of 78cm, and can be bought with a three-year warranty. The Livarno solar light decorations come as part of a range of Livarno items being sold by Lidl in this "party ready budget steady" limited offers sale. There are variety other lights by Livarno included in the sale, including an LED Solar Lantern priced at £7.99, some Mini Lighbulbs and Lanterns at £4.99, Home Solar Decorative Birds selling for £16.99, and Home Stone Effect Lights at £9.99. Other summer garden items will also be available in the sale, such as a Livarno Home Folding Gazebo which can be bought at a discount for just £69.99 with Lidl Plus, as well as a Grillmeister BBQ Pizza Oven and Piñatas. The Grillmeister BBQ Pizza Oven is one of Lidl's sell-out garden gadgets that it is bringing back in July, at a price much cheaper than the B&Q alternative. Lidl shoppers bag middle aisle bargain that's perfect for the hot weather and it's only a fiver It can be purchased at a bargain price of £29.99 from the Middle Aisle, £20 cheaper than the George Foreman alternative stocked at B&Q. This sale comes after Lidl also launched some other great summer essentials for a good price with Livarno. Among those include the recent release of their Livarno Home Double TopCool Duvet, perfect to keep you cool during hot summer nights.
Yahoo
25-06-2025
- Business
- Yahoo
Dollar General Corporation (DG) Might Be Wrong About Consumer Spending, Says Jim Cramer
Dollar General Corporation (NYSE:DG) is one of the . Dollar General Corporation (NYSE:DG) is a discount retailer with a presence all over the US. Its shares have gained 47% year-to-date, partly due to a 15.8% gain in June. Dollar General Corporation (NYSE:DG)'s shares rose after the firm's Q1 2025 earnings saw it post $1.78 in adjusted earnings and 10.4 billion in revenue. Both of these beat analyst estimates of $1.48 and $10.31 billion by a wide margin. Dollar General Corporation (NYSE:DG)'s strong performance allayed investor concerns about a slowdown in consumer spending. However, while the firm has warned about a consumer slowdown, Cramer shared how he's hearing otherwise: 'I had a, this outfit called HundredX on last night, it was a terrific Goldman guy who's left Goldman to do this. Robert Pace. The indications of spend for the consumer, it's going up. I mean, nothing is as it seems. I mean his work is just superb and it just says, right now the consumer is actually looking to spend more, maybe much more. That's not what you get from Dollar Tree, Dollar General.' In his previous remarks about Dollar General Corporation (NYSE:DG), Cramer commented on the firm's spectacular earnings report: 'But Dollar General and Dollar Tree have behaved very differently after reporting earnings over the past couple days. When Dollar General announced its results yesterday and the numbers were excellent, the stock caught fire… A busy shopping aisle filled with discounted items in a retail store. … So let me give you the bottom line: While both these companies might have the word dollar in their names, the subtle differences in their supply chain structure are having a huge impact on their stocks. That's why Dollar General soared yesterday, and Dollar Tree is now in the [house of pain]. And it's why you should watch out for the distinction between direct imports and indirect imports in the rest of retail because going forward, it's really going to matter.' While we acknowledge the potential of DG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
25-06-2025
- Business
- Yahoo
Dollar General Corporation (DG) Might Be Wrong About Consumer Spending, Says Jim Cramer
Dollar General Corporation (NYSE:DG) is one of the . Dollar General Corporation (NYSE:DG) is a discount retailer with a presence all over the US. Its shares have gained 47% year-to-date, partly due to a 15.8% gain in June. Dollar General Corporation (NYSE:DG)'s shares rose after the firm's Q1 2025 earnings saw it post $1.78 in adjusted earnings and 10.4 billion in revenue. Both of these beat analyst estimates of $1.48 and $10.31 billion by a wide margin. Dollar General Corporation (NYSE:DG)'s strong performance allayed investor concerns about a slowdown in consumer spending. However, while the firm has warned about a consumer slowdown, Cramer shared how he's hearing otherwise: 'I had a, this outfit called HundredX on last night, it was a terrific Goldman guy who's left Goldman to do this. Robert Pace. The indications of spend for the consumer, it's going up. I mean, nothing is as it seems. I mean his work is just superb and it just says, right now the consumer is actually looking to spend more, maybe much more. That's not what you get from Dollar Tree, Dollar General.' In his previous remarks about Dollar General Corporation (NYSE:DG), Cramer commented on the firm's spectacular earnings report: 'But Dollar General and Dollar Tree have behaved very differently after reporting earnings over the past couple days. When Dollar General announced its results yesterday and the numbers were excellent, the stock caught fire… A busy shopping aisle filled with discounted items in a retail store. … So let me give you the bottom line: While both these companies might have the word dollar in their names, the subtle differences in their supply chain structure are having a huge impact on their stocks. That's why Dollar General soared yesterday, and Dollar Tree is now in the [house of pain]. And it's why you should watch out for the distinction between direct imports and indirect imports in the rest of retail because going forward, it's really going to matter.' While we acknowledge the potential of DG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
22-06-2025
- Business
- The Sun
Another two Poundland stores to shut in weeks ahead of 68 other shop closures following £1 rescue deal
TWO more Poundland stores are set to shut in a matter of week ahead of another 68 upcoming store closures. Last week, Polish owner Pepco Group sold Poundland to US investment firm Gordon Brothers for £1 after a downturn in trading. 1 The new owners are now asking the court for permission to close 68 stores and negotiate lower rents on others, with up to 82 more stores potentially shutting in the future. However, before this announcement, Poundland had already planned to close 18 stores, and the remaining two of these now have confirmed closure dates. The discounter will pull down the shutters on a store on the Isle of Wight at the end of next month. The Isle of Wight store in Cowes will close permanently on July 30, a spokesperson confirmed. They said: "We'd like to thank customers for their support over the years and look forward to welcoming them to our other locations on the Island. "Whenever we close a store in situations like this, we do everything possible to find other opportunities for our colleagues, and that work is already underway." Following this, the Newquay store will shut its doors for good on August 1. Poundland has already closed 16 stores since March last year. Many more are set to close in the coming months following the struggling retailer's sale to Gordon Brothers. Five ways to save money at Poundland Full list of Poundland store closures HERE'S the complete list of Poundland's 18 planned store closures. Connswater Shopping Centre, Belfast – closed March 2024 Macclesfield – closed August, 2024 Maidenhead – closed October, 2024 Sutton Coldfield – closed October, 2024 Clapham Junction Station, London – closed May 2 Belle Vale Shopping Centre, Liverpool – closed May 6 St George's Centre, Gravesend – closed May 8 Southwark Park Road – closed May 14 Copdock Mill Interchange, Ipswich – closed May 20 Brackla, Wales – closed May 24 Chiswick High Road – closed May 28 Filton Abbeywood – closed May 31 Surrey Quays – closing June 11 Barrow Dalton Road - closing June 12 Union Gate, Bristol - closing June 20 Flint - closed June 21 Cowes, Isle of Wight – closing July 30 Newquay - closing August 1 What is happening with Poundland? Last week, Poundland was bought by US investment firm Gordon Brothers for £1. Following the sale the firm is seeking court approval to shut 68 shops and secure rent reductions on others — with a further 82 possibly closing in the coming years. It also plans to close its frozen and digital distribution site at Darton, South Yorks, this year and another warehouse at Springvale in Bilston, West Mids, in early 2026. Around 1,000 shop staff and 350 warehouse workers in the UK will be affected by the restructure, but none in Ireland. Bosses said they expect the court proceedings for the restructuring to conclude in late summer. Poundland MD Barry Williams said: "It's no secret that we have much work to do to get back on track. "It's sincerely regrettable this plan includes the closure of stores and distribution centres, but it's necessary if we're to achieve our goal of securing the future of thousands of jobs and hundreds of stores." Poundland could end up with as few as 650 stores in the UK and Ireland. It also plans to stop selling frozen food in its stores and scale back its chilled range. And shoppers will no longer be able to order its products online. RETAIL PAIN IN 2025 The British Retail Consortium predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce showed that more than half of companies planned to raise prices by early April. A survey of more than 4,800 firms also found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020. Why is the retail sector struggling? The retail sector has struggled in recent years due to the onset of online shopping and lockdowns during the coronavirus pandemic. Higher inflation since 2022 has also hit shoppers' budgets while businesses have struggled with higher wage, tax and energy costs. The Centre for Retail Research has described the sector as going through a "permacrisis" since the 2008 financial crash. Figures from the Centre also show 34 retail companies operating multiple stores stopped trading in 2024, leading to the closure of 7,537 shops.
