Greggs’ Post

⬇ Not had time to catch up on recent retail news? We've got you covered with a summary of this week's top stories: ✅ Morrisons has followed Asda in launching a price-matching scheme pegged to both of the German discounters. More than 200 essential products are included in the scheme, which launched yesterday. Morrisons said it will check the prices against both Aldi UK and Lidl GB twice per week to make sure they are as low or lower. 🎨 Poundland & Dealz is treating 150 stores in the UK and Ireland to a major revamp between now and the end of August. ‘Project Evo’ will see the stores get new signage, flooring, lighting and ranges, while staff areas will also be made over to make them better places to work, according to Poundland. ☕ Coffee chain Costa Coffee has announced it will give its baristas a 9% average increase in its pay rate from April. The starting rate will rise to £12 from £10.70, with specific increases in place for more senior and London-based baristas. Costa said the change would be effective in over 1,500 company-owned UK stores, affecting over 15,000 store members. 🍻 Less than a year after launch, sales of BrewDog’s Black Heart in grocery have reached nearly 10% of that of Guinness Draught, according to new Circana data. In the 26 weeks ended 24 December 2023, BrewDog Black Heart amassed sales of £4.2m in grocery, according to Circana. This was the equivalent to 9.6% of sales of Guinness Draught over the same period. 🧴Skincare startup Faace has secured backing from three dragon investors following an appearance on Dragons’ Den last week. Founder Jasmine Wicks-Stephens walked away with a combined £60k investment from Steven Bartlett, Peter Jones and Touker Suleyman. The dragons offered the entrepreneur £20k each in return for a 5% stake in the business, valuing Faace at £400k. #latestnews #newstoday #podtalent #supplychain #recruitment #london #manchester #international 

🎄 ⭐ As we enter the 'Golden Quarter' in retail, a report by BDO suggests that retail sales are 'sluggish' despite increased footfall. However, some retailers aren't feeling the squeeze. 📈 • Montirex LTD. opened it's first standalone pop-up store in Liverpool One, with hundreds queuing to buy the exclusive products. 👕 👖 • Frasers Group offer of £83million to buy Mulberry England was rejected but today announced its plans to buy further shares. 👜 👝 • Marks and Spencer is exploring a deal for a new giant warehouse in the Midlands as the retailer see's big growth in online sales across fashion and homeware. 💻 🏡 • Aldi UK could overtake ASDA as the UK's 3rd largest supermarket with an £800million expansion plan after posting record profits. 🥕 🥐 • Represent expands its in store presence with a new permanent space in Harrods, before its first UK store opens in the next few weeks. 👕 👟 • JD Sports Fashion CEO announced 'record' interim results with group revenue of £5.0billion as its internal expansion continues. ⚽ 🌍 Zachary Daniels

📉Pick n Pay Confronts Strategic Crossroads! In response to increasing market share loss to Checkers, Pick n Pay is considering either closing 112 stores or converting them into Boxer franchise outlets. The board faces critical decisions as the company seeks to adopt to a highly competitive retail environment. What does this mean to South African retail landscape? #BusinessLeadership #Retailtransformation https://lnkd.in/gWgtneay

Sandgate Newsagency and Gifts – Sandgate, Brisbane TURNOVER $2.5M+ – STRONG PROFITABILITY WITH EXCELLENT GROWTH POTENTIAL This independent newsagency and giftware store has been revitalized under new ownership, transforming it into a modern, attractive retail outlet that resonates with the local community. Since taking over, the current owners have revitalized the business, driving substantial financial growth by transforming the product range. They’ve strategically introduced high-demand, fast-turnaround items that perfectly align with the tastes and needs of the local community, creating a vibrant and profitable retail environment. Key Highlights: •Rebranded for Success: Formerly known as “NewsXpress Sandgate,” the business was rebranded as “Sandgate News & Gifts” after dropping the franchise, eliminating unnecessary fees and providing greater operational flexibility. •Prime Location: Located in the bustling Woolworths complex in Sandgate, with excellent foot traffic and a strong tenancy mix. •Experienced and Capable Staff: The business is supported by three full-time staff members, with additional assistance from two junior staff members who help over weekends and during the busy December period, ensuring smooth operations with minimal input required from the owners. •Enhanced Profitability: Strategic changes to the product offerings have led to improved profitability, and the business continues to show strong potential for further growth, especially through expanding giftware offerings and exploring online sales. •Outstanding Lotto Sales: The store enjoys excellent yearly lotto sales, consistently ranking in the top 25% of all lotto outlets in Queensland, with fantastic support from The Lott group, further contributing to its strong revenue streams. •Hands-On Landlord: The business has three years remaining on its five-year lease, with a supportive and engaged landlord. •Work-Life Balance: The current owners enjoy a balanced lifestyle, with minimal involvement in daily operations. The owners are willing to remain involved for 2 weeks, ensuring a smooth transition period. PRICE: $300,000 + SAV (Stock at Value, estimated at $75,000) Inquire Here: https://ow.ly/3x1K50SYc9o #CoastToCoastBusinessSales #RetailOpportunity #GiftwareStore #LottoSales #BusinessForSale #SandgateNews #BrisbaneBusiness

🛒Aldi UK and Lidl GB's expansion has been driven by new stores, although the pair scaled back on their opening plans last year. While it looks like the discounters are thriving on the surface, the fact that neither retailer report like-for-like sales or profit guidance makes it difficult to see the true picture. Retail Gazette looks at where the discounters' expansion plans stand now, whether growth has slowed and how big they could get in the UK. https://lnkd.in/e8Bh58rG #retailnews #grocery

Retail Resilience: The Story of "Not Godfrey's" In the ever-changing landscape of retail, one business in Noarlunga, SA, has embraced change with a touch of dry humor. The former Godfrey's franchisee, undeterred by the group's demise, has rebranded as "Not Godfrey's" – a cheeky nod to their past and a testament to their resilience. While the retail industry has faced some headwinds this year, this business stands as a shining example of adaptation and showcases that there is still an underlying strength in, the large format retail sector in Australia. The QLD and WA markets are still showing strong bouancy in trading conditions for retailers and we expect market forces like population growth to drive trading conditions in markets like VIC market in the later half of 2024. As the retail landscape continues to evolve, businesses like "Not Godfrey's" serve as a reminder that adaptability and a positive attitude can go a long way.

Jollibee Europe plans to ‘significantly increase its number of UK stores by end of 2028’ as it reports record turnover but increased losses: Jollibee, the Philippines fast food group, has said it plans to “significantly increase its number of UK stores by the end of 2028” as it reported record turnover but increased losses. Turnover in the UK increased to £17,897,195 for the year ending 31 December 2022 compared with £11,029,351 the previous year. Ebitda stood at a loss of £4.1m compared with a loss of £2.9m the year before. Pre-tax losses were up to £6,480,634 from £4,012,151 the year before, which is “partly due to relatively modest sales during the initial year following store openings”. The business operates 12 sites in the UK having consolidated its estate during 2023. In their report accompanying the accounts, the directors stated: “The company has reported a net liability position of £4.5m compared with a net asset position of £2.0m at the end of the previous period. The company is financial supported by its parent company group, which had provided loans and other funding amounting to £17.0m at 31 December 2022. The parent company, Jollibee Worldwide Pte (part of the Jollibee Foods Corporation group of companies), has undertaken to provide the company with sufficient additional financial support to enable the company to continue trading as a going concern, sufficient to cover its operating losses and to discharge its debts and liabilities as they fall due for the foreseeable future. A further net operating loss, although at a reduced rate, is expected for 2023 and 2024 partly as a result of inflation, higher than expected food cost increases, and a significant increase in the national minimum wage. Modest increases in revenue are forecast for 2023 and 2024, and then more substantial increases are planned from 2025 as the company intends to significantly increase its number of UK stores by the end of 2028.” The business did not receive any government grants (2021: £325,891). No dividend was paid (2021: nil). Jollibee made its UK debut in 2018 and operates about 1,200 sites worldwide. 

Really smart deal by Sainsbury's with a £130m investment in to 10 Homebase stores, taking existing retail space rather than trying to develop new… here’s why it’s a clever move: ✅ Adding 235k sq.ft. of net sales area in a single transaction - it's very hard to find new sites for supermarkets – most of them were taken by the traditional Big 4 operators during the 1990’s and early 2000’s… ✅ Development economics on brand new stores are also not stacking up (even if you could find the sites) – build costs have increased by more than a third in the last few years and coupled with wider valuation yields means it requires much higher rents to provide developers with sufficient profits ✅ Sainsbury’s expect the 10 sites to be open by the end of 2025 – 15 months from now – for new builds it would’ve taken years to get through the planning process and actually build the stores ✅ Allows Sainsbury’s to have a presence in areas they don’t currently cover… Shoppers typically won’t travel more than 10 minutes to a supermarket – they have identified 400,000 new shoppers within 10 minutes drive time of these new sites ✅ Securing the occupation of these sites when if they had been on the open market you would’ve expected competition from the likes of Aldi UK Lidl GB B&M Retail Wickes etc Having this kind of money to be investing in growth shows how strong Sainsbury’s performance is currently – they are really starting to see the benefits of all the investments that have been made in to cost cutting initiatives and the product range, which has seen them able to grow market share in one of the most competitive grocery markets in the world. Well done Patrick Dunne Jamie Cowen and the wider team 💡 https://lnkd.in/e7VtMune

BJ's Wholesale Club is making good on its previously announced plans to open 12 new locations in fiscal year 2024. The company has shared the five latest stores coming to its footprint, building on its already aggressive expansion plans. New locations include: Maryville, Tenn.  Myrtle Beach, S.C. Palm Coast and West Palm Beach, Fla. Carmel, Ind. The company also announced expansion into its 21st state as it plans to open a location near the Jefferson Mall in Louisville, Ky., early next year. The new Louisville club will include a BJ’s gas station, and is expected to create approximately 150 jobs. During the company’s Q4 and FY23 earnings call, BJ’s Chairman and CEO Bob Eddy shared that BJ’s plans to open 15 new gas stations during FY24. Some of those locations will be at clubs that don’t currently have gas stations, while others will be brand new. | Progressive Grocer https://lnkd.in/gW7_rZEB #retail #wholesale #clubs #grocery #gasstations #expansion #supermarkets

800 New Aldis, 300 New Targets and New Whole Food small format expansion announcements happened this past week. Add in Sprouts, Walmart, HEBs, Publix and Lidl expansion plans to occur this decade and we got a lot of pent-up grocery tenant demand. Why so much expansion all the sudden? Do they think people will increase grocery store shopping as QSR meals are fast approaching $20/head/meal? Or are they planning for the massive immigrant population that is going to push up US population by 30M in the next 2 decades? Finally, I don't know where all the development capital will come from unless rates drop by 200bps here in the next 24 months. The largest source of capital, REITs, are not buying anything less that 7 cap on average. Self-development (internal or fee for service) will be required. Love to hear your thoughts?