Sainsbury’s results: Will efforts to keep prices low pay off? July 3, 2023 Investors will turn their focus to Sainsbury’s first quarter trading update on Tuesday to see how shoppers are reacting to the impact of food inflation amid the cost of living crisis. The supermarket is expected to post a jump in revenues driven by higher grocery sales over the quarter to June. Analysts at Shore and [...]
WH Smith has no plans to grow ‘healthy’ high street presence as it eyes airports instead June 30, 2023 WH Smith boss said the retailer has no plans to open any additional high street stores but is focusing on growing its transport hub and international presence. “We’ve got a very healthy High Street business in the UK”, Carl Cowling told the BBC, “but we’ve got no ambitions to grow that”. “When you look at [...]
WH Smith, M&S and Argos among hundreds fined for failing to pay minimum wage June 21, 2023 Hundreds of businesses including high-street heavyweights WH Smith, M&S and Argos have been named and shamed after being fined for failing to pay workers the minimum wage. Firms from sole traders to household names were ordered to repay 63,000 staff lost wages totalling close to £5m, after breaching National Minimum Wage (NMW) law. WH Smith [...]
Pyrex maker files for US bankruptcy after inflation and high rates batter sales June 14, 2023 The maker of Pyrex and Instant Pot has filed for Chapter 11 bankruptcy as dwindling sales and high inflation have battered the business. Instant Brands, which is US owned, is said to have much as $1bn (£790m) in liabilities. Instant Brand, which trades in John Lewis and Argos for upwards of £180, was impacted by [...]
Searches for pools up 438 per cent as millions of burgers and sausages to be sold for first BBQ weekend June 9, 2023 The sale of barbecue food, ice-cream and inflatable pools have skyrocketed, as Brits prepare for the first BBQ weekend of the summer. Supermarkets Tesco, Asda and Sainsbury’s have all reported huge spikes in the sale of meat, as millions will enjoy the hot weather and have the first barbecue of the summer. This comes after [...]
Will nobody rid me of these troublesome ordering screens? May 31, 2023 It used to be so simple. But now ordering lunch in the City has become an exercise in technological frustration and irrational anger.
Government permits ‘long lorries’ on British roads – but are they safe? May 10, 2023 The Department for Transport (DfT) has today announced legislation permitting ‘long lorries’ to be rolled out on UK roads, estimating a £1.4bn boost to the economy as a result. The new laws will allow longer semi-trailers (LSTs) of up to 18.55 metres on British roads, over two metres more than the standard size, from 31 [...]
Splashing the cash on cardboard cut outs of King Charles, mugs and quiche: The Coronation top sellers May 5, 2023 Celebrations for King Charles III’s Coronation appear to have already started with Brits stocking up on nostalgic and whimsical goods to prepare them for the extra Bank holiday weekend. Discount supermarket Lidl said sales of quiche and champagne have increased 33 per cent and 50 per cent respectively, as shoppers look to pay homage to [...]
Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]