Retail round-up on June 21, 2016: Lidl supports NFU’s 'fruit and veg pledge', Tesco shuts 24 hour store openings, Sports Direct and Modell's looks for a potential deal
Tesco scraps 24-hour store openings to tackle decline in profits
Tesco is to scrap 24-hour openings at 20 of its stores to shore up profits. Tesco will now have just over 300 stores (out of 6,814) that open 24 hours a day.
Tesco plans to change its service model, including switching stock replenishment to the daytime, reducing service counters and ending 24-hour openings as part of a "recalibrating" of its stores.
Some 2,000 staff members who will be affected have entered a 45-day consultation period.
Lidl supports NFU’s 'fruit and veg pledge' to support UK farmers
Lidl has become the second retailer after Aldi to back the National Farmers’ Union’s 'fruit and veg pledge' to support British farmers, reports The Guardian.
Under the pledge, Lidl is committed to increasing the proportion of British fruit and vegetables at its stores, treat all suppliers fairly, offer greater price certainty to growers, pay them on time and reduce waste.
Ryan McDonnell, commercial director for Lidl UK, said: "We are very proud to have developed and maintained strong, long-standing relationships with all our suppliers, and our commitment to the NFU pledge cements this further.
"We're also very keen to ensure that our sourcing process supports the growth and development of UK growers, which is vital in encouraging more and more people, particularly our shoppers, to regularly eat more fruit and veg."
Sports Direct and Modell’s in talks for a joint bid for Sports Authority
Sports Direct and Modell's Sporting Goods are in talks for a potential deal to buy as many as 200 stores of bankrupt retailer Sports Authority, reports the Wall Street Journal.
Sports Authority filed for Chapter 11 protection in early March and bids for its store leases are due Thursday. Sports Authority sold its inventory to a trio of liquidators in a bankruptcy auction in May after failing to attract a going-concern bid for its business.