The Notebook: Victoria Scholar on defensive plays, BA’s new uniforms and Elon Musk’s fall from fortune January 10, 2023 The Notebook is a new feature for 2023, allowing the City’s biggest names to get a few thoughts off their chest. Today it’s the turn of Victoria Scholar, Head of Investment at interactive investor It has been widely reported that the UK is on the brink of recession while a third of the global economy [...]
How a viral TikTok video about Prosecco helped Lidl record its busiest ever sales day January 9, 2023 Emma D’Arcy’s viral TikTok Negroni Sbagliato fad helped budget supermarket Lidl achieve its busiest day of trading in its 28-year history after sales of booze skyrocketed. The discount retailer recorded its busiest day ever on Friday 23rd December following a surge in customers switching over from more expensive rivals. The record trading came as [...]
No crumpets: Warburtons off the shelves at Waitrose for a year after ‘performance’ issues January 8, 2023 AN UNLIKELY corporate row has broken out between Waitrose and Warburtons that has seen the nation’s favourite crumpet pulled from the shelves of the middle class’ supermarket of choice. Waitrose made the call after the Lancashire bakery’s products “didn’t meet our expectations” according to a report in the Telegaph. Warburtons’ chairman James Warburton meanwhile told [...]
Sainsbury’s boosts pay as part of £205m inflation package January 4, 2023 Sainsbury’s is investing £185m in pay bumps for staff as the supermarket looks to retain staff during a period of high inflation and rising cost of living. Pay will increase to £11 per hour for retail staff, with London workers paid £11.95. It represents a 10 per cent pay hike over the past year when [...]
Cost of living fears don’t stop Brits spending record £12bn in supermarkets in run-up to Christmas January 4, 2023 BRITS brushed off cost of living and recession fears to spend a record £12bn in UK supermarkets in the run-up to Christmas.
Aldi posts record December sales of £1.4bn after Christmas and World Cup surge January 3, 2023 Aldi today said it had achieved record December sales of more than £1.4bn following a surge in demand over the winter month, as the Christmas period coincided with the World Cup in Qatar. The budget supermarket said its sales increased 26 per cent during December, despite the UK’s cost-of-living crisis, due to surging demand for meats, cheeses [...]
Grocers set for £550m tax reduction over next three years January 3, 2023 UK supermarkets and grocers will benefit from an almost £550 million tax cut over the next three years, according to new analysis. It comes after more than half a million retail properties in England and Wales were revalued as part of a shake-up to the business rates system of property taxes. Analysis of official government [...]
Prime: Aldi limits sale of KSI-Logan Paul energy drink after store carnage goes viral December 29, 2022 Discount store Aldi has been forced to limit sales of a new energy drink made by KSI and Logan Paul after customers were shown clamouring to buy the item. A video shared on Twitter by a user called Mark Hall showed raucous Aldi shoppers grabbing the drink today, with staff members attempting to only allow [...]
Cooking up a storm: Recipe biz Mob will be ‘smart about revenue’ amid recessionary hit on digital ads December 13, 2022 Recipe social media firm Mob has said it will move away from third-party revenue streams this year as digital advertisers’ budgets shrink. Ben Lebus, founder of the food-focused platform and recipe book business, told CityA.M. the firm needed “to be really smart about where we’re getting revenue from” amid the economic crunch. Mob, which has [...]
Morrisons inks £220m sale of warehouses as it aims to become ‘more popular’ December 9, 2022 Morrisons has inked a £220m sale and leaseback transaction of seven logistics properties, as it aims to become “more popular and more accessible.” The supermarket – which is owned by New-York private equity titan Clayton Dubilier & Rice – announced the completion of the deal with asset manager ICG on Friday. Morrisons has undertaken to [...]