The top news stories of the week

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The top 5 most popular stories on retailgazette.co.uk

#1 Tesco to axe 1000 jobs

Ttesco has announced plans to axe 1000 jobs as the grocer embarks on a major overhaul of its distribution network.

The UK’s largest supermarket will close two of its distribution centres in Welham Green and Chesterfield.

Operations from the Welham Green warehouse will be moved to an existing site in Reading, where it will expand its workforce. 

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#2 Discounters sieze market share from Big 4 over Christmas

Three of the Big 4 grocers lost out on market share over the last Christmas period, as the discounters continue to challenge their dominance.

New results from Kantar Wordpanel have revealed that Asda continued its decline with a 4.7 loss of market share in the 12 weeks to December 4. 

Sainsbury’s and Morrisons also saw losses of 0.6 per cent and 1.4 per cent, despite Morrisons posting its best Christmas trading update in seven years.

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#3 Sports Direct to sell more brands in premium push

Sports Direct is reportedly planning to offload more of its 28 brands in an effort to raise its profile and shed financial baggage.

The news comes after the sportswear retailer penned a £112 million deal last month to sell its Dunlop brand to Japanese rubber company Sumitomo.

Sources close to the company have suggested this is part of an effort to take the brand more upmarket, according to The Telegraph

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#4 3i set to offload Hobbs for £80 million

Hobbs is set to go on sale in the coming months as investment bank 3i seeks to offload the struggling fashion brand.

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