Revenue dips for musicMagpie as pandemic boom fades and belts tightened July 27, 2022 Shares dropped nine per cent in early morning trading for musicMagpie after the circular economy firm reported how squeezed wallets were cutting into profits and margins.
Further price rises loom over shoppers after Coca Cola and Unilever reveal hikes July 27, 2022 Shoppers are set to face further wounding price increases in the coming months, as some of the world’s largest consumer goods giants admit that more cost hikes will be passed on to shoppers. Retail chiefs have warned more price increases are on the way, with the British Retail Consortium (BRC)’s Helen Dickinson admitting households and [...]
Movie magic: Everyman cinemas continue to outshine pre-pandemic levels July 27, 2022 Everyman Media Group continues to outshine pre-pandemic levels as movie-goers continue to flock to the big screens.
THG and SoftBank scrap options for $1.6bn investment in e-commerce emporium July 26, 2022 E-commerce giant THG has cancelled its partnership with a division of SoftBank, citing “global macroeconomic conditions.” A call option with the Japanese conglomerate to pump an extra $1.6bn into technology unit THG Ingenuity has been scrapped and will “cease to be capable” of being exercised. An option and collaboration agreement was terminated by mutual agreement [...]
JD Sports set to announce former B&Q executive as new CEO July 26, 2022 A former boss at B&Q is being touted to take the reins at JD Sports Fashion to replace the brand’s long-term CEO who stepped down over board disagreements. Frenchman Regis Schultz is set to take over at the sportswear fashion giant according to Sky News’ Mark Kleinman. City sources said the agreement could be signed [...]
Scorching summer boosts grocery sales but volumes dip amid cost of living crunch July 26, 2022 Total till grocery sales were elevated this month as sweltering summer temperatures encouraged shoppers to spend more at the supermarket. According to NielsenIQ data, total till grocery sales were up 4.4 per cent in the four weeks to 16 July, with sales up 5.6 per cent in the last week when scorching weather started. Price [...]
Revenue climbs for Greencore despite supply chain challenges and inflationary pressure July 26, 2022 Irish food firm Greencore reported a revenue increase of 35 per cent to £486.2m the third quarter, thanks to continued strong growth in both food to go and other convenience categories.
Unilever boosts sales growth guidance and suggests not the end of price hikes July 26, 2022 Consumer goods giant Unilever has seen sales propelled more than eight per cent after hiking prices of food and drink to mitigate cost increases. Underlying sales growth of 8.1 per cent was “driven by strong pricing to mitigate input cost inflation, which, as expected, had some impact on volume,” Alan Jope, chief executive officer said [...]
Fashion factories: Government must do more to tackle workers’ fears towards reporting illegal wages July 25, 2022 The government should do more to tackle Leicester garment workers’ fears around reporting illegal wages, a report has urged. Findings from the Low Pay Commission (LPC) echo earlier studies in concluding there is still a long way to go in improving the treatment of textile factory workers in the city. Some factories have operated at [...]
Sausage roll-ing in to town: Greggs and Primark launch new fashion range with ‘snackfest’ tour July 25, 2022 Greggs and Primark are teaming up for a new clothing range, which will be launched on a ‘snackfest’ UK bus tour. The kings of sausage rolls and low cost clothes announced the new range on social media this morning. Gregs and Primark, which collaborated on a similar project earlier in the year, announced the range [...]