Trust in supermarkets at 10-year low like ‘dark days of horsemeat scandal’ August 29, 2023 Trust in supermarkets has plunged to its lowest level in nearly a decade as consumers continue to worry about high prices, despite food inflation showing signs of easing. In August the grocery sector received a trust score of +30 -on a scale of -100 to +100 -from British shoppers, a new study by Which? revealed [...]
Consumer confidence shows ‘renewed optimism’ against falling core inflation August 25, 2023 Consumer confidence is showing “renewed optimism” against a backdrop of falling core inflation, figures suggest. GfK’s long-running Consumer Confidence Index improved five points in August, with all measures reversing the drop seen in July, although it remains firmly in negative territory at minus 25. Confidence in the general economic situation for the next 12 months [...]
Bermondsey craft beer maker Brew By Numbers saved from collapse August 24, 2023 Bermondsey based brewery, Brew by Numbers (BBNo) has been rescued from collapse by investment firm Breal Capital. The craft beer maker fell into administration at the start of the summer but the business which operates out of two sites in Greenwich and Bermondsey continued to operate whilst a sale process took place. The London business [...]
PureGym: “If we build it, they will come” says gym chain riding out cost hikes August 24, 2023 Value fitness club PureGym appears to have muscled its way through the start of the cost of living crisis with revenues spiking almost a fifth. During the quarter it steamed ahead with its expansion plans to open one new site per week, amounting to 20 new sites in the UK. The business, which offers competitive [...]
Cost of living crisis: 63 per cent of Brits now shop at discount grocery stores August 22, 2023 More than half of shoppers now shop at discount grocery stores as Brits continue to seek out bargains amid the cost of living crisis. According to new data released by NIQ, in the last four weeks some 63 per cent of the public shopped at value chains such as Aldi, B&M and Poundland, with over [...]
Wilko: On-the-brink retailer missed out on £40m in sale of flagship depot August 20, 2023 Wilko’s sale of its flagship depot has returned to the spotlight as the deal appears to show how the business allegedly missed out on £40m amid a period when it was desperately trying to shore up cash. Last November, the troubled high street store offloaded its 1.1m sq ft warehouse in Nottinghamshire for £48m to [...]
Rishi Sunak says we’ll feel better off next year – but is the PM right? August 18, 2023 Rishi Sunak has pledged Brits will all feel better off next year, as he said he “passionately believes” he can bring down inflation and ease the cost of living crisis. Speaking to the Times, the prime minister vowed to be disciplined on public spending and tax rates in a bid to revive the UK’s economic [...]
Harrods hails rise in profit as iconic London store recovers from pandemic lull August 15, 2023 Harrods, the world famous department store in Knightsbridge, recorded a profit for the year ending January 2023, as the iconic London shop fully rebounded from the pandemic lull. Luxury shoppers keen to blow their cash in the capital helped hike operating profits at Harrods to £202.7m up from a weak £71.4m the prior year. The [...]
Wilko rumour mill: B&M shares up as takeover whispers gather volume August 15, 2023 Wilko has fallen into administration but rumours are flying that fellow discounters could be circling the stricken retailer
Grocery price inflation drops sharply to 12.7 per cent August 15, 2023 Grocery price inflation saw its second sharpest fall since 2008, falling 2.2 percentage points to 12.7 per cent for the four weeks to 6 August, new data shows. While food prices are still rising, some goods actually became cheaper, with shoppers paying £1.50 for four pints of milk, down from £1.69 in March, and a [...]