Skip to content
Search

Latest Stories

Simon Arora rejects speculation on Asda takeover

BRITISH Indian billionaire Simon Arora has dismissed the speculation that his business could launch a reverse takeover of Asda.

The latest statement from Arora has come after the proposed merger of Asda with its rival supermarket chain Sainsbury’s was blocked by the British competition watchdog, Competition and Markets Authority (CMA) last month.


Chief executive of B&M Bargains added that his business is focused on the potential for its organic store growth.

Arora, 49, further said his firm aims to raise the total number of stores to 950 from existing 920 stores.

The B&M boss clarified that he was not focusing on merger and acquisition as his firm has a lot of things to finish to achieve its business targets.

He said his company had sealed an acquisition of food chain ‘Heron Foods’ 24 months ago. However, the £152 million deal was less than the £7 billion Asda price tag.

Walmart owned company’s shops are too big and the retail market analysts opine that small retail business groups may opt not to take over the business.

Asda is also seriously considering a mass-market début.

Meanwhile, CMA said yesterday (23) that it would pass an order to stop Sainsbury's and Asda from merging in the next 10 years.

Despite a downward trend in the British retail sector, B&M Bargains posted a 9 per cent rise in annual pre-tax profits to £249.9m.

The annual sales touched a record £3.5bn.

The company also plans to start new 50 stores this year and open a distribution centre in Bedford with a staff strength of 1,000.

B&M has recently leased space from Marks & Spencer in Pudsey, West Yorkshire.

Arora’s company opened 52 shops last year.

More For You

Primark-London-Getty

During his 15-year tenure, Marchant expanded Primark’s store network to more than 450 locations across 17 countries in Europe and the United States. (Photo: Reuters)

Primark chief Paul Marchant steps down after misconduct probe

PAUL MARCHANT, the head of fashion retailer Primark, has resigned with immediate effect after admitting to an "error of judgment" in his behaviour towards a woman in a social setting.

Associated British Foods (AB Foods), Primark's parent company, announced his resignation on Monday.

Keep ReadingShow less
Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

India-US trade talks end with no sign of tariff relief

INDIA and the United States have agreed to move forward on finalising a part of their bilateral trade deal this year, but there was no indication of any tariff relief for India.

Trade discussions took place in New Delhi ahead of the implementation of US president Donald Trump's new trade tariff regime, which includes import levies on India, set to take effect from 2 April.

Keep ReadingShow less
Tesco Clubcard Changes: Update Your App Before the Deadline

The digital Clubcard offers convenience and flexibility

Getty

Tesco Clubcard changes: Customers urged to update app before Monday deadline

Tesco has issued an urgent call for action to millions of its Clubcard users, advising them to update their Tesco Shopping & Clubcard app before Monday, 31 March 2025. The supermarket giant is rolling out an important update to improve data protection and online security, and failure to update the app by the deadline will leave customers unable to access their digital Clubcard benefits.

Update to ensure enhanced security

The upcoming changes are being implemented to enhance the security of customer data and improve overall protection. Tesco has highlighted the importance of this upgrade, as it seeks to safeguard customer information and keep their online shopping experiences secure.

Keep ReadingShow less