2025年6月2日每日零售与电子商务新闻：阿尔迪南 北合并、阿斯达收入追踪、阿尔迪英国首席执行官谈竞争

-20%-15%-10%-5%0%5%10%15%20%Sep-18Jan-19May-19Sep-19Jan-20May-20Sep-20Jan-21May-21Sep-21Jan-22May-22Sep-22Jan-23May-23Sep-23Jan-24May-24Sep-24Jan-25Weekly disposable income (£)YoY changeRestricted - External UK Mid & Small Cap Leisure/ConsumerNEUTRALEuropean Food RetailNEUTRALEuropean General RetailNEUTRALEuropean InternetPOSITIVEEuropean Food RetailJames Anstead+44 (0)20 3134 6166james.anstead@barclays.comBarclays, UKMatthew Clements+44 (0)20 7773 6018matthew.clements@barclays.comBarclays, UKImogen Doyle+44 (0)20 7773 2605imogen.doyle@barclays.comBarclays, UKEuropean General RetailJames Anstead+44 (0)20 3134 6166james.anstead@barclays.comBarclays, UKMatthew Clements+44 (0)20 7773 6018matthew.clements@barclays.comBarclays, UKImogen Doyle+44 (0)20 7773 2605imogen.doyle@barclays.comBarclays, UK Today's full stories**BARCLAYS RESEARCH: European Retail Valuation Sheet**Please see the link to theBarclays European Retail Valuation Sheet for the week beginning 2 June 2025.^Aldi Süd and Aldi Nord merger talks.The families behind Aldi Süd and Aldi Nord have heldtalks about a possible merger, with a proposal to combine under a joint holding company withshares evenly divided between the families' trusts, reportedWirtschaftsWocheon Saturday. Amerger was initially targeted by the end of the year, but is now viewed as unrealistic, with apossible first step being to combinesoftwareand IT. Merger talks, which have reportedly beenongoing for several weeks, have become possible since the heirs behind Aldi Nord agreed toreorganize their side of the business three years ago, ending a feud that had drawn the once-obsessively secretive clan into the courtroom and the public eye.^ASDA UK income tracker (April).The UK ASDA Income Tracker indicates that weeklydisposable income increased by +4.9% YoY to £249 in April (vs +10.0% in March). The slowdownin spending power growth was primarily driven by an acceleration in inflation, which jumped to+3.5% in the year to April, its highest level since January last year. Looking ahead, CEBR expectinflation to remain above the Bank of England’s 2.0% target throughout the year, while earningsgrowth is projected to slow down (while still outpacing inflation). The lowest income quintilerecorded a -11% decline in spending power and has consistently recorded falls in spendingpower YTD. Every quintile has seen spending power fall compared to March 2025, though thethree highest quintiles have all seen an increase compared to April 2024. When comparingdifferentage groups, all under 65s have seen their weekly discretionary income increasecompared to the previous year, while 65-74s saw a decline of -1% and >75s of -3%. Theslowdown in pension-age income growth is believed to reflect the Triple Lock scheme, wherepensions have been uprated at a slower rate this year than last. Looking ahead, CEBR expectsthe lowest income quintile to receive some relief from the increase in the NLW in the comingmonths.^Aldi UK boss dismisses price war claims.Aldi UK CEO Giles Hurley says the discounter hasseen little evidence of increased competition and aggressive new pricing in the sector, reportedThe Times on Thursday. Hurley said he'd "probably be pretty dismissive and describe it as aphoney [price] war". In fact, he commented "What we frequently see from more expensivesupermarkets is {…} they drop prices in one area and they put them up in another area". Headded that Aldi UK has not had to adjust its pricing strategy in response to competitor activity.Hurley also took the chance to highlight: "While I don’t benchmark or aim to have a certainplace in the grocery market, it’s an interesting soundbite that we’re now the third biggest insales," adding "in terms of volume, we've actually been the third biggest for some time." Hurleyacknowledged that recent strong performance had been boosted by warmer weather. He alsohighlighted that 69% of UK households now shop at Aldi, pointing to "unwaverable" demandfor own-label lines. In terms of inflation, Hurley pointed out beef as experiencing "prettyunprecedented cost pressure at the moment". Aldi aims to open 40 new stores in the UK in2025.^Aldi UK boss criticises planning system.The Aldi UK CEO Giles Hurley has criticised the UK'splanning system, saying that the complex and "spurious" objections from competitorsupermarkets were stifling store openings and job creation. Hurley said that what was once arelatively straightforward 12-week planning process has become a two-to-three-year ordeal.^Lidl ordered to pay underpaidstaff.Lidl, alongside Halfords, The Range owner CDSSuperstores, and 500 other companies, has been called out by the Department for Business andTrade (DBT) for underpayingstaffbetween 2015 and 2022, according to an article by Retail 2 Gazette on Friday. Lidl has been found to have underpaid 3,423 of its workers whose salaries fellbelow the national minimum wage by a total of £286,437.18, which has since been repaid.^BDO high street sales tracker.BDO’s high stre