Euro Garage Issa brothers

[spygirl]

https://www.consultancy.uk/news/35585/asda-selects-tcs-as-it-and-digital-transformation-partner

Carl Dawson, Chief Digital & Technology Officer, Asda, commented, “We are confident that this collaboration with TCS will be one of the engines to deliver such a large technology transformation, where we are in the process of reimagining retail. TCS is going to bring together the cutting-edged technologies and help Asda employees and customers have a seamless experience.”

The strategic partnership will leverage TCS’ cloud, AI, and security solutions to help Asda deliver the divestiture smoothly, on-time and securely. This will see also see TCS build a new digital core by implementing multiple cloud-based ERP platforms to streamline Asda’s supply chain forecasting, buying and merchandising processes, HR processes, warehouse management, and e-commerce processes. Additionally, TCS will use its Machine First Delivery Model to automate the retailer’s IT operations, providing a seamless experience for employees and customers, and improving operational resilience.

Mohsin Issa, Chief Executive Officer, Asda, added, “We have a long term vision to grow Asda and bring our great heritage in value to even more communities – and our technology will form a key part of delivering this vision. We have partnered with TCS because they bring experience in retail technology transformation and innovation. We look forward to working with them to accelerate our digital transformation journey and to unlock the potential of our business.”

The move comes as Asda looks to find efficiencies to help pay for a series of price-slashes, courting households struggling amid the UK’s cost-of-living crisis. In October, this saw Asda announce it will invest a further £9 million in price reductions across nearly 250 branded and own-label products – having sunk a £35 million investment into reducing the price of over 600 products across July and August.

[spygirl]

CD&R’s Morrisons sells petrol forecourts to sister company MFG for £2.5bn

The deal will help the private equity-owned supermarket service its debt pile

https://www.ft.com/content/10e54c35-e2cd-426e-9460-e5d3f091c978

 

[spygirl]

On 27/12/2023 at 16:46, spygirl said:

Will £4bn Asda debt and family rift damage the Issa brothers

https://www.thisismoney.co.uk/money/markets/article-12896439/Will-4bn-Asda-debt-family-rift-damage-Issa-brothers.html

Celebration: The Issa brothers and former EY executive Elizabeth Price attended the Entrepreneur of the Year awards in 2018

 

See her? That slut in red?

The wiggy ones shagging her.

 

https://www.dailymail.co.uk/news/article-13039667/asda-brothers-feud-wife-home.html

 

[spygirl]

He is understood to be in process of divorcing his wife, Shamim, whom he married three decades ago. 

They have two children in their twenties; daughter Mariya and son Sauban.

Ms Price divorced her second husband, Alastair Nuttall, in December 2021, citing irreconcilable differences.

She had met him in 2015 when they both worked at EY's Manchester office. 

He helped raise her two children from previous relationships.

The accountant began working at EY in 2006, rising through the ranks to become a partner heading up its private tax unit.

Her relationship with Mr Issa raised questions of a conflict of interest, as he was the director of a firm, Asda, being audited by EY.

But lawyers for the couple have stressed that Ms Price never worked on the Asda audit and made 'all appropriate disclosures' to its ethics and compliance committee. 

Her affair with Mr Issa was also disclosed, they added.

Ms Price left EY last July – the day after the firm resigned as Asda's auditor.

EY said they did so after the supermarket bought EG Group's UK business a month earlier, citing the increased scale and complexity of the business.

Ms Price recently took up a high-powered job with management consultants Alvarez & Marsal, posting on LinkedIn this week that she was on an induction course in Florida.

According to the 2023 Sunday Times Rich List, the Issa brothers have a combined net worth of more than £5billion. The feud between them has resulted in Mohsin running Asda and Zuber taking charge of the rest of the EG Group.

[spygirl]

Issa brother to step back after 'fixing' Asda

https://www.bbc.co.uk/news/business-68436330

Yeah .. the Middle East needs my can do spirit ....

 

[spygirl]

5 hours ago, spygirl said:

Issa brother to step back after 'fixing' Asda

https://www.bbc.co.uk/news/business-68436330

Yeah .. the Middle East needs my can do spirit ....

 

Asda billionaire boss Issa:: 'I've not done bad'

https://www.bbc.co.uk/news/business-68436330

??????????????????????????????!!!!!!!!!!!!!!!!!!!!!!!!!!!!????????????????????????????????????????

 

[Ash4781b]

11 hours ago, spygirl said:

Issa brother to step back after 'fixing' Asda

https://www.bbc.co.uk/news/business-68436330

Yeah .. the Middle East needs my can do spirit ....

 

Blimey forgot Asda still existed. The last time I went in there it everything was at Sainsburys prices. 

[Ash4781b]

https://www.dailymail.co.uk/news/article-13134937/amp/Asda-sales-growth-British-supermarket-rivals-Tesco-Sainsburys-Morrisons.html
 

Market share falling fast at Asda.

[Butthead]

21 hours ago, Ash4781b said:

Blimey forgot Asda still existed. The last time I went in there it everything was at Sainsburys prices. 

Asda is my nearest large superstore so I shop there fairly regularly out of convenience. It has got much worse since Walmart sold it.

My biggest complaint is their eye-catching offers that don't get honoured at the self-service till. When they don't you have to summon a member of staff to jump through hoops to correct the price ("this should be 2 for £2" - "I can't authorise that sir" - fetches supervisor, off to check the price, 10 minutes later...). Or if the hassle isn't worth it you can pay full price, for something you didn't necessarily want at full price, and feel ripped off.

Best avoided.

[spygirl]

On 02/03/2024 at 16:50, Butthead said:

Asda is my nearest large superstore so I shop there fairly regularly out of convenience. It has got much worse since Walmart sold it.

My biggest complaint is their eye-catching offers that don't get honoured at the self-service till. When they don't you have to summon a member of staff to jump through hoops to correct the price ("this should be 2 for £2" - "I can't authorise that sir" - fetches supervisor, off to check the price, 10 minutes later...). Or if the hassle isn't worth it you can pay full price, for something you didn't necessarily want at full price, and feel ripped off.

Best avoided.

See the earlier post on their EP outsourced to TCS.

Soon the bothers will be going round and biro-ing prices on goods.

 

 

[Joncrete Cungle]

Spoke to someone who works for them at a senior level today. They have had another big bust up and "are sailing very, very close to the wind"

[sancho panza]

thry look fubar,in an inflationary envrionement these sales figuresar e adisaseter.

cutting staff and therefore service is a quick route to empty shops

@spygirl @Ash4781b

https://www.telegraph.co.uk/business/2024/04/03/uk-asda-sales-behind-supermarket-rivals-growth-slumps/

 

The figures show Asda lagging behind all major rivals over the period, with its market share slipping to 11.7pc compared to 12.3pc a year earlier. 

This allowed German discounter Lidl to move closer to Asda in terms of market share, which rose from 9.8pc to 10.2pc. 

The Telegraph revealed earlier this year that Asda had slashed millions of hours for staff in a bid to reduce its wage bill, which has threatened to spark a wave of strike action. 

It comes as Asda struggles under the weight of billions of pounds of debt following a £6.8bn takeover in 2021, which has sparked hundreds of millions of pounds in interest payments. 

 

[HousePriceMania]

BY all accounts the Slug and Lettuce pub chain are in trouble and they're own by the same P.E. firm that owns Asda, so I guess these two brothers.

 

https://www.telegraph.co.uk/business/2024/04/09/stonegate-slug-and-lettuce-owner-races-plug-2bn-black-hole/

Classic comment here...

 

 Stonegate said: “While the macroeconomic environment continues to have an impact on the group and the cost of living crisis has led to lower profit and operating cash flows than would otherwise have resulted had these conditions not existed, overall the group has delivered a highly respectable performance.”


so I reality were different, they'd be ok.

[spygirl]

On 26/01/2024 at 13:41, spygirl said:

https://www.consultancy.uk/news/35585/asda-selects-tcs-as-it-and-digital-transformation-partner

Carl Dawson, Chief Digital & Technology Officer, Asda, commented, “We are confident that this collaboration with TCS will be one of the engines to deliver such a large technology transformation, where we are in the process of reimagining retail. TCS is going to bring together the cutting-edged technologies and help Asda employees and customers have a seamless experience.”

The strategic partnership will leverage TCS’ cloud, AI, and security solutions to help Asda deliver the divestiture smoothly, on-time and securely. This will see also see TCS build a new digital core by implementing multiple cloud-based ERP platforms to streamline Asda’s supply chain forecasting, buying and merchandising processes, HR processes, warehouse management, and e-commerce processes. Additionally, TCS will use its Machine First Delivery Model to automate the retailer’s IT operations, providing a seamless experience for employees and customers, and improving operational resilience.

Mohsin Issa, Chief Executive Officer, Asda, added, “We have a long term vision to grow Asda and bring our great heritage in value to even more communities – and our technology will form a key part of delivering this vision. We have partnered with TCS because they bring experience in retail technology transformation and innovation. We look forward to working with them to accelerate our digital transformation journey and to unlock the potential of our business.”

The move comes as Asda looks to find efficiencies to help pay for a series of price-slashes, courting households struggling amid the UK’s cost-of-living crisis. In October, this saw Asda announce it will invest a further £9 million in price reductions across nearly 250 branded and own-label products – having sunk a £35 million investment into reducing the price of over 600 products across July and August.

What are Master Shipman, mystic fortune tellers to tge rich n famous, favourite words?

I. Told. You. So.

 

Asda fails to fix payroll crisis as swathes of workers remain out of pocket

Some workers forced to use food banks as union calls for co-owner to apologise

Luke Barr12 April 2024 • 3:12pm

62

Asda is yet to resolve a payroll crisis that has left swathes of workers out of pocket, piling further pressure on boss Mohsin Issa.

The supermarket’s internal systems have been overwhelmed by complaints since The Telegraph first revealed details of the IT meltdown last month.

An internal memo shows that almost 10,000 workers received incorrect payslips as a result of the botched systems update, with some still missing hundreds of pounds as a result.

It is understood that store managers were permitted to make £200 payments to affected staff – not enough to make up for the full shortfall, with workers up to £500 out of pocket.

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Some employees were forced to use food banks or rely on payday lenders as a result.

The IT crisis sparked a range of challenges for employees, as incorrect payments coincided with some being unable to access their payslips at all.

For those who were overpaid, there are mounting fears that Asda could seek to claw back cash in one lump sum, potentially inflicting further pain on low-paid workers.

The crisis has led union chiefs to call for Mr Issa to apologise. The Asda co-owner has been overseeing the company’s payroll update as part of a broader IT transition.

Asda's payroll crisis has piled pressure on co-owner Mohsin Issa CREDIT: Jamie Lorriman

A crunch meeting will be held between Asda and union bosses at GMB on Monday.  

Nadine Houghton, GMB national officer, said: “Paying staff properly is a basic for any employer. And when many of your staff are struggling to make ends meet it is vital you get this right.

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“Cost-cutting by slashing staff who processed wage errors means this huge backlog still isn’t resolved and the company are unlikely to have resolved this by next payday.”

In one store, employees have recently been greeted with a board of tips to help save money, including guidance to “bulk out dishes with breadcrumbs” or “boil a kettle once in the morning and fill a flask for a day’s worth of cuppas”.

It comes after Asda was forced to share draft results with investors after its auditor failed to sign off company accounts.

The supermarket’s bosses shared its financials in a private presentation with lenders late last month, days after the payroll crisis emerged.

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These figures showed unaudited profits of £248m from revenues of £25.6bn for 2023.

This was despite a surge in finance costs to £441m, borne from the retailer’s £4.2bn debt pile.

The IT meltdown and delayed results represent the latest hurdles for Asda’s hierarchy, which has been criticised for giving up swathes of market share in recent months.

The supermarket now has just 13.8pc of the grocery market, compared with 14.8pc in early 2021, according to Kantar. In contrast, Tesco commands a 27.2pc share of the market with Sainsbury’s at 15.2pc.

[spygirl]

Asda co-owners knew IT switch would spark payroll errors

https://www.retailgazette.co.uk/blog/2024/04/asda-payroll-fiasco/

I don't think they did.

Just pay the staff cash in  hand like they do the migrants locked in the petrol stations.

I'd guess the whole running a company abiv board, legally, is one surprise after another.