Retail news round-up on February 29, 2016: Churches against extension of Sunday trading hours and Sainsbury's mulls higher bid for Argos.
Major UK churches oppose longer Sunday trading hours
The leaders of the UK's major Christian denominations have joined forces to oppose the extension of Sunday opening hours.
For the first time, senior Roman Catholic, Church of England, Church in Wales, Methodist, United Reform Church and Salvation Army figures have issued a joint statement against the Government’s plans to relax Sunday trading laws.
The six faith organisations, in a letter to The Telegraph, warned that plans to let large stores open for longer on Sundays will damage family life and do nothing to boost the economy.
“As leaders of Christian communities in England and Wales, we oppose the Government’s plans to further deregulate Sunday Trading laws,” they said.
Sainsbury's could raise offer for Home Retail
Sainsbury's is considering tabling an increased bid for Home Retail Group, following an 11th-hour offer by South African retailer Steinhoff, This is Money reported.
The board of Sainsbury’s and its advisers are believed to be using the extra time to review the £120m annual cost savings that shareholders have been told it could make from a tie-up.
Tesco eyes job redundancies over three years
Tesco is eyeing 39,000 job cuts over the next three years as the embattled grocer attempts to curb plunging profits.
The potential job losses were revealed in a leaked document, The Guardian reported.
The supermarket giant confirmed the validity of the document but said it had modelled various scenarios and had no plans to announce further redundancies.
Poundworld chief and founder prepares to step down
Discount retailer Poundworld's boss and founder, Chris Edwards, is looking to quit after spending 40 years at the company.
He said, "I think it’s time for a rest.”
Edwards is to hand the reins to Gerry Gray, who has until recently been Tesco’s UK operations director, later this year.