Somerfield, the British retail group, continues to struggle with
its Kwik Save unit, acquired in 1998. The company has taken a long
time to find the right trading format for the discounter and
recently took the decision to close or...
Somerfield, the UK supermarket group, said that its ongoing store
refit programme had a major effect on sales in 2003, in particular
the makeover given to the Kwik Save discount store chain. But this
was not enough to save the Kwik...
Somerfield, itself a takeover target last year, is the latest UK
supermarket retailer to move into the convenience store sector, a
movement led by larger rivals Tesco and Sainsbury. Evidence that
the UK's biggest High Street...
Somerfield, the UK supermarket group, is continuing on
the road to recovery after several difficult years following its
acquisition of the Kwik Save chain.
Kwik Save continues to weigh down the performance of UK retailer
Somerfield, but second quarter and half yearly results reveal that
the margins are closing. Will Kwik Save turn the corner or will it
continue to hold Somerfield back?
Somerfield is still to find a solution to the question of how to
turn around the performance of the discount store chain acquired in
1998. The latest quarterly figures show that while Somerfield
improved, Kwik Save sales actually...
Somerfield, the UK supermarket group, is pleased with its recovery
but wants to increase the pace of development for its new store
formats to consolidate its position in the convenience store
segment.
Just six weeks after it rejected a first takeover bid on the
grounds that it undervalued the company, UK retailer Somerfield has
today turned down a second bid from the same parties on the same
grounds. But this is unlikely to be...
Somerfield continues on the road to recovery with a slight rise in
like-for-like sales in the last year. The steady progress made by
the company over the last few months is only likely to increase
speculation about takeover bids.
Somerfield, like its compatriot Iceland, has suffered in recent
years because of a poor image and shabby stores. Both chains have
invested in new formats, and for Somerfield at least, this
investment appears to be paying off.
