A weekly round up of the hottest international retail and consumer news. Walmart-owned Asda is considering taking over discount retailer B&M, a move that could cost more than £4bn, according to The Guardian. Like Sainsbury’s and Tesco, Asda has been losing market share to German supermarket chains Aldi and Lidl. 2. Nike improvement: analysts Payments processor Worldpay says foreign spending in the UK could reach £2.4bn over the summer due to the weak pound, which continues to attract overseas visitors. Spending on foreign cards was up 18% year-on-year in June, with tourists buying £643m worth of goods on the high street. Middle Eastern visitors spent 59% more during Eid from June 24 compared with an average week, with luxury boutiques and department stores seeing the biggest surge in sales. 4. New PepsiCo president
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.