‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Now hiring: Aldi launches recruitment drive for 1,000 new logistics roles July 21, 2022 Aldi is the latest firm to take part in a logistics recruitment boom, creating some 1,000 roles across the country over the next year. The discount supermarket wants to expand its distribution, transport and maintenance teams at its 11 regional distribution centres across the country. It comes as retailers are facing a race for distribution [...]
Primark owner poaches Marks & Spencer director for top finance job July 21, 2022 Primark owner Associated British Foods has nabbed Marks & Spencer’s CFO Eoin Tonge for its top finance job. Associated British Foods said that its current finance director John Bason will step down from the board, with Tonge stepping into his shoes no later than February 2023. Tonge also holds the position of chief strategy officer [...]
Marks & Spencer snaps up logistics firm Gist for £145m to take control of food supply chain July 21, 2022 Marks and Spencer has acquired the logistics provider to its food arm for £145m, with the supermarket “taking control of our food supply chain for the first time in our history.” The premium supermarket said on Thursday the acquisition from Storeshield, owned by The BOC Group, would aid its multi-year plan to modernise its food [...]
Ocado losses swell as shoppers add less items to their baskets amid cost of living crunch July 21, 2022 Ocado has posted swelling losses after shoppers have added less items to their shopping baskets following the cost of living crunch and easing of lockdown restrictions. Losses widened to £211m, from £27.9m the year prior, for the six month period to 29 May, as customers tightened their purse strings as inflation surged past new 40-year [...]
Argos shoppers and staff accuse retailer of ‘pink washing’ over lack of gender-neutral ‘Mx’ option July 20, 2022 Sainsbury’s Argos brand has been criticised for not including gender-neutral options online, with almost 12,000 people signing a petition in protest. Argos has previously told customers it will add an “Mx” option to the title section of the catalogue retailers’ online forms. Supermarket Sainsbury’s already offers Mx on its forms. However, the retailer has since [...]
Restaurateurs grapple with food costs as dairy prices spike July 20, 2022 Restaurateurs are being forced to fork out more and more to create Brits’ favourite dishes, with the sharpest price hikes among dairy, grains and meat. Dairy costs have surged the most, with increases of up to 40 per cent, according to data from around one thousand pubs and restaurants collected by Fourth. Grains, including pasta [...]
Last orders? Bittersweet summer for pubs as rising costs out-shadow post-pandemic demand July 20, 2022 Packed beer gardens herald the arrival of summer in Britain. For publicans, this summer presents a chance to rebuild after two years’ of Covid-19 restrictions battering trade. Yet, with inflation surpassing 40-year highs and strike action threatening to severe revellers’ passages into city centres, will publicans be able to make up for those long, lost [...]
Bloomsbury says increased reading here to stay as Harry Potter publisher eyes £240m yearly sales July 20, 2022 London publishing house Bloomsbury has said it is confident a new cohort of book lovers are here to stay, posting elevated growth for the year so far. The Covid-19 pandemic inspired many consumers to pick up paperbacks, with lockdown giving rise to TikTok reading trends. According to the Harry Potter publisher, increased reading is “here [...]
In The Style entices new customers with influencer partnerships as it posts pre-tax loss July 19, 2022 Digital fashion retailer In The Style has seen its share price slump after posting a pre-tax loss in its debut full-year results as a public firm. Shares were down more than 35 per cent on Tuesday afternoon after CEO Sam Perkins admitted the year ahead would likely be “a challenging one for consumers and retailers.” [...]
Ocado Retail boss to step down as online grocer begins hunt for new CEO July 19, 2022 Ocado Retail has said its CEO Melanie Smith will step down next month, after three years at the helm of the business. Former deputy CEO of the company, Lawrence Hene, will take over on an interim basis while a hunt for a permanent replacement takes place. The supermarket has struggled with waning average basket spending [...]
