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Supermarkets Hoard Staples For Holidays, COVID Resurgence

PYMNTS

The holiday season is months away, but food distributors and supermarkets are stockpiling food to prepare for what could be a sales surge if COVID-19 cases rise. We will never again operate our business as unprepared for something like this,” he said. could see another widespread outbreak of virus cases.

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Tesco to sell bulk of banking business to Barclays for £700m

TheGuardian

About 2,800 of supermarket group’s staff will transfer to bank, which will sell Tesco-branded services Tesco has struck a deal to sell the bulk of its banking business to Barclays for £700m in a deal that will include the transfer of about 2,800 staff to the bank.

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Groceries Juggle Bottom Line, Food Delivery Costs

PYMNTS

While supermarkets have embraced delivery to meet the demand, many grocers haven’t figured out how to get food to customers’ homes profitably and others wonder if they ever will, The Wall Street Journal (WSJ) reported. million in March, a nearly 9 percent hike, the survey revealed.

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British Grocery Chain Sainsbury's Slashes 3K Jobs

PYMNTS

Supermarket group Sainsbury's is planning to slash 3,000 jobs, according to a Times report on Friday (Nov. The group's Argos business will see the most layoffs. By March 2024, the company is planning to open 150 more Argos stores in Sainsbury’s and add 150-200 more Argos collection points in supermarkets and convenience stores.

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Impossible Foods’ COVID-19 Impacts Mitigated By Drive-Thrus, DTC Sales

PYMNTS

Impossible Foods ’ restaurant business has been impacted by the coronavirus, but Pat Brown, the company’s CEO and founder, said in a televised interview that it has not been affected as negatively as “the industry at large.” He said the result was partly because “a number of our customers have a significant drive-thru business.”.

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Sainsbury’s Bank open to offers as retailer plans to exit finance

TheGuardian

Company exploring options as it plans to shift focus back to food and retail, rather than services Sainsbury’s Bank has opened the door to fresh takeover offers, after the supermarket group announced it would exit the banking business nearly 27 years after its launch.

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Walmart Once Again Seeking Investors For UK Grocer Asda

PYMNTS

Walmart is looking to take advantage of a booming grocery market to restart efforts to sell a stake in its British supermarket arm. Walmart’s plans for its supermarket chain in the United Kingdom have fluctuated significantly over the past year since Asda was blocked in its bid to acquire rival Sainsbury’s by U.K.

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