Sainsbury’s adds 18,000 Christmas jobs in hiring spree November 2, 2022 Supermarket giant Sainsbury’s has announced plans to hire 18,000 seasonal staff this year. The hiring spree includes 15,000 roles at Sainsbury’s, 2,000 at Argos and 1,000 in logistics. Temporary staff will work up until 7 January 2023 with roles including fixed term contracts of between three and 12 weeks. It comes as supermarkets are battling [...]
Expensive bites for millions of Brits as food inflation soars to record 11.6 per cent November 2, 2022 With even basics such as tea bags, milk and sugar seeing significant price rises, food inflation has soared to a record 11.6 per cent in October. Overall shop prices are now 6.6 per cent higher than they were this time last year – also a record – but food inflation jumped well above September’s 10.6 [...]
Olive oil maker Filippo Berio faces price hike of 35 per cent: ‘If we don’t pass it on, we go bust’ November 2, 2022 Consumers could be hit with price hikes of up to 35 per cent on olive oil next year, the managing director of Filippo Berio told CityA.M. Harvests in Spain have been impacted by a dry September, with worst-case scenario predictions that the crop could fall to the lowest level since 2012. In Andalusia, a main [...]
Next sales ahead of expectations as analysts warn ‘worst still to come’ November 2, 2022 Fashion stalwart Next posted better than expected full price sales while analysts have warned the full impact of market volatility is yet to be seen. The retailer shared a 0.4 per cent boost to sales in its third quarter versus last year. The London listed chain reiterated full year guidance for profit before tax of [...]
Focus should be on vapes accessibility rather than cigarette bans says think tank November 2, 2022 The government should focus on tobacco alternatives rather than cigarettes bans, says leading think tank. In a new report published today, the Institute of Economic Affairs (IEA) urges policymakers to focus on boosting vapes and e-cigarettes rather than looking towards bans, which has been the preferred strategy in countries such as New Zealand. Recent data [...]
More than one thousand McColl’s jobs at risk under Morrisons’ plans November 1, 2022 Morrisons has announced that around 1,300 McColl’s workers are facing redundancy, as it prepares to shutter some loss-making stores. The supermarket, which rescued the ailing McColl’s from collapse earlier this year, has set out its plans for the convenience store business. Some 132 stores have been identified as having “no realistic prospect of achieving a [...]
Simpson’s Tavern closes: Campaign launched to save City institution after landlord changes the locks November 1, 2022 Simpson’s Tavern has stood two hundred yards from the Royal Exchange since 1757 – but rent arrears as a result of the pandemic look set to see the historic Square Mile institution closed for good. The doors were locked last month by the landlord, a Bermudan operation called Tavor Holdings, who was demanding back payment [...]
Ocado shares soar after partnership with South Korea’s Lotte Shopping November 1, 2022 Ocado shares surged by more than a third on Tuesday morning after the retailer inked a partnership deal with South Korea’s Lotte Shopping. The London-listed tech firm said it had agreed plans for the development of a national fulfilment network, pushing shares up as much as 36 per cent by midday. Lotte Group is one [...]
Value of West End landlords’ assets dented by economic volatility November 1, 2022 West End landlords Shaftesbury and Capital & Counties Properties have had the valuations of their portfolios dented by economic turbulence in the last few months. The London-listed Shaftesbury, soon to be merged with neighbour Capital & Counties, posted an update about its first summer of trading not disrupted by Covid measures since 2019. Its portfolio [...]
Made.com to call in administrators as furniture firm’s 700 staff left in lurch November 1, 2022 Made.com has announced the appointment of administrators after cash-strapped consumers have pulled back on big ticket spending. The London-listed furniture firm said on Tuesday that it’s board has resolved to file notice of an intention to appoint administrators at PricewaterhouseCoopers (PWC). The company had been seeking out rescue cash but interested suitors were unable to [...]