Weekly Retail & Leisure News - 01 September, 2015
Poundland’s £55m takeover of its rival single-price
retailer, 99p Stores, has been provisionally cleared by the CMA. The four-month
review has found that competition would not be damaged if Poundland were to buy
99p Stores and also stated that they are not required to sell off any
stores. The acquisition will add 250 extra shops to Poundland’s estate of
nearly 600 UK outlets, accelerating its progress towards a target of 1,000
stores in the UK. The company, which topped sales of £1bn this year, also has
more than 40 Irish stores and nine stores in Spain.
Further evidence of the strength in the discount sector
comes from the latest Kantar Worldpanel figures on grocery market share. Tim
Vallance, Head of UK Retail at JLL, commented: “Aldi and Lidl’s market
shares continue to rise, but the question remains as to how long this
ascendancy will continue before they look to expansion in other countries.” The
figures also revealed that Asda has reclaimed its spot as the UK’s second
largest supermarket. Tim continued “this is no surprise due to their renewed
focus on non-food items. Focusing on non-food offerings will appeal to the
consumer that is increasingly facing a lack of that precious and non-recyclable
from the discounters, Waitrose were the only other grocer to increase their
market share in the latest period, according to Kantar Worldpanel. Elsewhere, a
number of retailers including Joules, Jimmy Choo, The Original Factory Shop,
Space NK and Furniture Village, all announced positive results last week.
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Director, Head of Retail Research (UK & EMEA)
+44 (0)20 3147 1155
Director, Head of UK Retail & Leisure
+44 (0)20 7318 7838
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