Fine wine investors toast Kwarteng as sterling crash boosts market October 11, 2022 Fine wine investors have been toasting the tumbling pound in the past weeks as they capitalise on depressed sterling prices to snap up premium tipples at cut-prices.
Exclusive: The pandemic sped up the pace of change in retail, says Manhattan’s CEO October 11, 2022 Ever since Covid became a household name and the pandemic creeped into businesses’ operations, global supply chains have been under more pressure than ever. It is one of the reasons urgent supply chain commerce transformation has been at the top of the agenda of retail giants, industry leaders, product experts and agents of change. One [...]
Spike in package holidays and foreign travel may be ‘rare positive legacy of pandemic’ October 11, 2022 Foreign holidays are back with a bang with 45 per cent of people going abroad in the last year. The latest study from travel agent association ABTA found the level of foreign travel in the last 12 months was equivalent to 70 per cent of that in 2019, pre pandemic. With coronavirus restrictions lifted, a [...]
Shoppers face £643 increase to yearly grocery bill October 11, 2022 Shoppers are facing an additional £643 jump in their annual grocery bill as grocery price inflation breaks another record. According to freshly published data from Kantar, grocery inflation sits at 13.9 per cent, the highest level since the data firm started tracking prices in the 2008 financial crisis. The average household’s annual grocery bill is [...]
Greencore profit held back by rail strikes and bank holiday October 11, 2022 Food manufacturing giant Greencore has seen profits dented by rail strikes and the bank holiday for the Queen’s funeral in September. In a fourth quarter and full year trading update, the convenience food maker placed its adjusted operating profit at the lower range of £72-77m. The London-listed firm said it had been forced to absorb [...]
Marston’s: Customer demand ‘encouraging’ despite living pressures October 11, 2022 Pub operator Marston’s has said it is still seeing Brits head to their locals in recent weeks despite pressure on budgets. Like-for-like sales were buoyant over the 10 weeks from 24 July to 1 October ,increasing three per cent on the 2019 financial year. Total like-for-like sales had sunk one per cent compared to the [...]
Reach revenues contract as national mourning causes ad slowdown October 11, 2022 Mirror and Daily Express publisher Reach saw revenues dip in the third quarter after a drop off in advertising revenue in September as the country mourned the passing of the Queen.
The City is bouncing back: Itsu sees sales surge past pre-Covid levels amid office return October 10, 2022 Asian-inspired restaurant chain Itsu has declared London is “back in business” after the capital has endured a protracted footfall recovery from Covid lockdowns. Itsu’s City sites have seen sales steadily grow throughout the year, with its third quarter shooting beyond pre-Covid levels, the brand said on Monday. “Increasing numbers” of customers are being served midweek, [...]
Getir in takeover talks with rival Gorillas October 10, 2022 Rapid delivery giant Getir is reportedly in advanced talks to take over rival Gorillas. According to a report in Bloomberg, sources familiar with the matter said a proposed deal would be a mix of cash and equity. They said no final decisions had been made and the talks may not ultimately result in a sale. [...]
More Consolidation Ahead for Europe’s Consumer Sector? October 10, 2022 | City Talk Europe’s consumer industry has suffered as a result of the COVID-19 pandemic and has had to adjust quickly to survive. Lockdowns froze physical players and e-commerce provided a lifeline for survival for some. But the easing of restrictions did not necessarily help: consumer behaviours have clearly changed and retail footfall has not recovered to pre-pandemic [...]