US consumers to prioritise Valentine’s Day spending

Metro reports a 1.3% increase in operating income for Q1 FY24. Morrisons sells 337 petrol station forecourts to MFG in £2.5bn deal. And IKEA invests in fresh wave of price cuts across its markets.

Forward this email  |  View in browser Retail Insight Network In Brief January 31, 2024 SPOTLIGHT READ US consumers to prioritise Valentine's Day spending A National Retail Federation survey finds that total spending on significant others for Valentine's Day is expected to reach $14.2bn in 2024. Got a minute to spare? Take part in our research by answering our poll: Answer our poll question LATEST NEWS Metro reports a 1.3% increase in operating income for Q1 FY24  The retailer's sales increased 6.5% over the quarter, driven by food and pharmacy same-store sales.   Morrisons sells 337 petrol station forecourts to MFG in £2.5bn deal  Morrisons will take a 20% stake in MFG and enter commercial and supply agreements.    IKEA invests in fresh wave of price cuts across its markets  The extent of the price cuts varies by market, subject to local economic factors such as inflation and currency fluctuations.   UK's disposable vape ban may drive up illicit sales, retailers warn The Federation of Independent Retailers calls for more government funding and border enforcement to combat counterfeit products.   Amazon and iRobot terminate acquisition due to regulatory challenges Amazon will now pay iRobot its agreed-upon termination fee to finalise the process.   Latham & Watkins, Kirkland & Ellis top retail M&A legal advisers 2023  GlobalData has revealed the top ten M&A legal advisers for 2023 in the retail sector.   Barclays and Rothschild lead retail M&A financial advisers in 2023  Barclays advised on deals worth $14.6bn, securing the top spot by value, while Rothschild & Co's advisory work on 19 deals placed it at the top in terms of volume. Read more news IN-DEPTH READ Net Zero Strategies in Retail and Apparel   GlobalData's latest thematic report offers an in-depth insight into the net zero targets and performance of 20 leading retail and apparel companies. The report elucidates the importance of a net zero strategy in the retail and apparel sector along with the progress made by the leading retailers to achieve the emission target. Buy report MORE FOR YOU Explore our marketing solutions   Merging industry-leading business intelligence & award-winning journalism, this is an unrivalled opportunity for engagement with B2B professionals across a network of 40+ leading media websites.    Request a demo Click below to view more from across the network: Packaging Gateway    |   Just Style   |   Just Drinks   |   Just Food        Was this email forwarded to you? Sign up here.   Please send any news or comments to: consumer.editorial@verdict.co.uk   GlobalData   At GlobalData we have a proven track record in helping thousands of companies, government organizations, and industry professionals benefit from faster, more informed decisions. You can update your communication preferences to make sure you receive the right information for you.    GlobalData, John Carpenter House | Registered in England No. 03925319, John Carpenter Street, London, EC4Y 0AN, United Kingdom London  Unsubscribe  |   Manage Preferences