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Arena Magazine 2005 Issue 3 |
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Company news
Usdaw has submitted pay claims to most of the big retailers and other companies within the union’s sectors as the annual wage round gets under way. Many negotiations are already under way and are expected to be finalised by the summer.
Somerfield/Kwik Save
The Somerfield/Kwik Save chain is the object of intense takeover speculation with United Co-operatives the latest to be linked with the under-pressure retailer.
In February this year the Icelandic group Baugur had a £1 billion offer turned down. Since then two other offers were tabled by different groups. Although the United Co-op's interest is at an early stage takeover-talk looks set to continue, with Asda also thought to be interested.
Consumer spending
Shoppers are spending less than ever with retail sales at a ten year low, says employers' group the British Retail Consortium.
It blamed low consumer confidence, rises in interest rates and pre-election concerns on possible tax rises for the drop in sales. Higher utility bills and a slow housing market have also dented sales.
Morrisons/Safeway
Morrisons, which took over Safeway last year, is expected to sell another 60 stores leaving it with around 400.
The retailer has been under fire from analysts as it struggles to convert the former Safeway stores to its own format. It will also sell 30 Safeway convenience stores at petrol forecourts after Morrisons parted company with oil giant BP.
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