E-commerce grocery sales plateau boosts Aldi’s market share to peak levels June 22, 2021 The growth of e-commerce sales in the grocery market has plateaued, giving the likes of Aldi an opportunity to grow its market share after not making use of online sales in the past year. The percentage of e-commerce sales in the grocery market remained flat at 13.4 per cent in the four weeks to 13 [...]
Speed shopping: Food delivery space in frenzy as well-funded newcomers eye Deliveroo’s market share June 9, 2021 Getir has become the latest in a raft of fast-growing grocery delivery operators to raise bumper cash injections to fuel ambitious growth plans. The Turkey-based company, which said it can deliver to customers in as little as 10 minutes and launched in the UK in January, secured almost £400m in investment last week, taking its [...]
Deutshe Bank mulls ditching EY as auditor following Wirecard scandal May 28, 2021 Deutshe Bank is inviting firms to compete for its 2020 audit just two years after hiring EY to replace KPMG, in a move that could see EY ditched in favour of another company. The chair of Germany’s biggest lender Paul Achleitner told shareholders that the company wants “to keep all its options open” when it [...]
Tesco is trying to give quick delivery apps a run for their money May 26, 2021 Tesco is set to launch a new rapid delivery service which will allow the supermarket giant to shuttle orders to customers doorsteps in less than an hour. The supermarket chain will first trial the Whoosh delivery service at its Wolverhampton Willenhall Express store – assessing its potential for a wider rollout. It said that the [...]
Morrisons online sales continue to soar despite lockdown easing May 11, 2021 Morrisons said online sales have continued to soar this year despite the lifting of lockdown restrictions. In an update this morning the supermarket chain said online sales were up 113 per cent in the 14 weeks ended 9 May compared to the same period last year. Internet sales helped boost group like-for-like sales excluding fuel [...]
Tesco, M&S and John Lewis among UK retail giants to threaten Brazil boycott over Amazon deforestation May 5, 2021 UK retail giants including Tesco, Marks & Spencer and John Lewis have threatened to boycott Brazillian agricultural commodities over the deforestation of the Amazon. In an open letter published today the retailers said they will take action if Brazil’s government passes a law expanding property rights for squatters on public land. Campaigners have warned that [...]
In tune: Synth makers Sequential snapped up by Focusrite for £18m as revenues grow April 27, 2021 High-end synthesizer firm Sequential boasted revenues of $18.3m last year, which hit all the right notes for audio products company Focusrite to buy it for $24m today. The existing management and team will stay with the California based Sequential post-acquisition. Meanwhile, the company could receive up to $4m more, depending on its performance. Focusrite’s board [...]
Staff hauled out millions of euros in cash from Wirecard’s HQ in Aldi and Lidl shopping bags April 23, 2021 Wirecard employees hauled out millions of euros in cash from the group’s Munich headquarters, according to former employees. Former employees told Munich police that staff repeatedly removed large sums of cash in Aldi and Lidl plastic bags from Wirecard’s HQ, the Financial Times first reported. The practice started as early as 2012, and suggests fraudulent [...]
Drinking around the world: Romanian wines to die for April 20, 2021 My introduction to Romanian wine was inauspicious. It came in one of Count Dracula’s tourist castle hotels in Transylvania. We sat around a coffin-shaped table as a black-suited waiter approached and smiled, revealing not particularly threatening canines. As he brandished the wine list he said, “May I have the pleasure of providing sir with a [...]
Tesco profits tumble despite surge in pandemic sales April 14, 2021 Tesco’s pre-tax profit fell by 20 per cent to £825m in 2020 despite a pandemic-driven jump in group sales. The UK’s biggest grocer said it incurred £892m of Covid-related costs during the year and repaid £535m of business rates relief. The retailer reported a 6.3 per cent rise in group like-for-like sales, including a 7.7 [...]