Cost of living: Brits switch to discount brands while 1.7m have cancelled subscriptions like Netflix, reveals Lloyds February 17, 2023 A fifth of people polled by Lloyds Bank have switched to discount brands in a bid to save cash to cope with the cost of living, while 1.7m have cancelled subscriptions like Netflix, it has been revealed. The shift to discount shopping has been significant during the cost of living crisis, with an 18 per [...]
Wagamama owner has ‘little hope for future’ activist shareholder says, urging major strategy overhaul February 16, 2023 Wagamama owner The Restaurant Group has shown “little hope for the future” and is in need of a strategy overhaul, an activist shareholder has urged. Oasis Management, a hedge fund which holds a 6.5 per cent stake in the company, called on the hospitality firm to “re-align its priorities” and take immediate steps to restore [...]
SSP: Upper Crust owner’s UK recovery hampered by rail strikes as commuters stop buying baguettes February 16, 2023 Upper Crust owner SSP has seen the recovery in its UK arm hampered by repeated waves of strike action across railway networks. The company, which runs food outlets at transport sites such as airports and railway stations, revealed the performance of its UK and Ireland business lagged behind other regions globally due to train strike [...]
Nestle: Cost inflation eats into KitKat maker’s profit as it tumbles 45 per cent to £8.4bn February 16, 2023 KitKat and Nescafe coffee maker Nestle has revealed its net profits tumbled by 45 per cent as cost inflation led the global food and drink giant to hike up the prices of its products. The Switzerland-headquartered company, which owns some of the world’s biggest food brands, said its net profits fell to 9.3 billion Swiss [...]
Subway mulls selling business in deal that could be worth over £8bn February 15, 2023 Family owners of sandwich giant Subway are considering a possible sale, in a deal that could be worth as much as £8bn. In a statement, the American fast-food firm said “its shareholders are exploring a possible sale of the company” after 60 years of family ownership, but added there “is no indication of timing or [...]
Supermarket wars: Waitrose to invest £100m in own brand products as it squares up to discount rivals February 15, 2023 Waitrose is to invest £100m in cutting prices on hundreds of its own-brand products amid intense competition in the sector as consumers battle record inflation. The upmarket grocer is reducing the prices of almost a third of its lowest-priced Essential Waitrose range by an average 14%, while almost a quarter of the cuts, which come [...]
Ben & Jerry’s owner Unilever: Turnover soars to £53bn driven by price increases against backdrop of inflation February 9, 2023 Unilever price hikes helped the firm deliver turnover of more than £50bn last year, as the group had a nine per cent increase underlying sales growth for 2022. The British firm – which owns brands such as Ben & Jerry’s, Dove, Hellman’s and Magnum – said that turnover also increased 14.5 per cent to €60.1bn [...]
Why the 2021 Burgundy is great and why you probably can’t afford it February 8, 2023 L ondon was abuzz with Burgundy this January and the release of the challenging 2021 vintage En Primeur. To buy En Primeur is to purchase before the wine is officially on the market and means consumers can snap up wines at an often more favourable price point – something that would be very desirable for [...]
Food inflation soars to highest level on record February 1, 2023 Food inflation has reached its highest level on record, with the sector predicting no stall in price increases throughout the year. Figures published in the British Retail Consortium’s (BRC) shop price index show food inflation rose to 13.8 per cent in January, up from 13.3 per cent in December. This rise has pushed it above [...]
Cafe Koko: New Camden Pizza restaurant review January 31, 2023 Arriving in the evening, you can see the warm orange glow of Koko before you see the building itself. Taking up an entire block, the recently renovated, 122-year-old music hall once again sits at the heart of Camden, having closed in 2020 following a fire. The £70m refurbishment includes an extensive private members’ area with [...]