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Market Commentary

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Weekly Retail & Leisure News - 01 September​​​​​, 2015

Poundland takeover of 99p Stores approved

​​​​​​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 commodity: time.”

Apart 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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