Boohoo charged by HMRC over recycled polybag certification August 31, 2022 The taxman has charged Boohoo Group over a lack of certification for its recycled polybag content. The fashion brand wrote to product suppliers last week saying the charge would be passed on unless they met certain conditions, according to Drapers. Boohoo was accused by HMRC of breaching recently introduced rules about plastic packaging, meaning items [...]
Cake Box shares sink after warning profits could be sliced by cost pressures August 31, 2022 Cake Box has warned full year profitability could be “significantly below current market expectations” as the cake maker battles inflationary cost pressures.
Sainsbury’s to pump tens of millions into its prices to offset inflation pressure on Brits August 31, 2022 Sainsbury’s said this morning the supermarket giant plans to invest £65m into its pricing next month amid ratcheting pressure on customers’ budgets. Simon Roberts, chief executive of the supermarket chain, promised the brand will stand with its customers “to ease the financial pressure they face”. The latest pricing pledge – which is part of wider [...]
Surge in back-to-school sales pushes Shoe Zone’s profit outlook for third time this summer August 31, 2022 A surge in back-to-school sales has helped retailer Shoe Zone to increase its full-year profit outlook for the third time in as many months. The discount shoe chain said trading continued to be better than expected during August, with strong demand for back-to-school items and summer shoes boosting business. Shares jumped more than 10% in [...]
Food prices up 5.1 per cent in last month as pressure mounts on shopper August 31, 2022 Supermarkets across the UK hiked prices by 5.1 per cent in the 12 months to August, according to new data from the British Retail Consortium (BRC).
Pubs and restaurants face ‘widespread business failure’ in absence of energy bill support August 30, 2022 Pubs and restaurants are facing “widespread business failure” in the absence of government support as energy bills swell, hospitality chiefs have said. In a letter to ministers, UKHospitality has warned that tens of thousands of jobs could be lost as the UK enters the colder months, as businesses are hit with increasing headwinds. Writing to [...]
Gopuff to boost UK focus as rapid grocery app prepares to leave Spain August 30, 2022 Rapid delivery platform Gopuff intends to amp up its focus on the UK as it departs Spain, in an endeavour to close in on profitability. The start-up is intending to slim its operations, a source familiar with the matter told Bloomberg yesterday. However, the UK is one of the platform’s fastest growing markets, with revenue [...]
Hotels cashed in on scorching summer but face gloomy winter freeze August 30, 2022 British hotels cashed in last month during a scorching heatwave, but the industry fears its profits will freeze up as the UK prepares for bleak economic times. Holiday destinations across the country had a record-breaking summer with a new survey showing more than 77 per cent occupancy in July compared to 73 in June. This [...]
Sainsbury’s to save 17m food items from waste by removing best before dates August 30, 2022 Sainsbury’s plans to save 17 million food items a year from waste by removing ‘best before’ dates. The supermarket giant will take off the date from 276 of its own brand items and more than 100 fresh produce products, such as onions, tomatoes and fruits. More than 130 items will follow, including potatoes, with [...]
Exclusive: Grind teams up with Soho House to conquer the States as coffee brand opens first branch in LA August 30, 2022 City A.M. can reveal this morning that cult London coffee brand Grind has opened its first site outside the UK by taking its business model across the pond. David Abrahamovitch, the company’s CEO and co-founder, told this paper today that Grind the chain’s first non-London branch has opened its doors in Los Angeles, California. In partnership with [...]