Shoppers opted for premium products this Christmas as grocery inflation hit 3.5 per cent January 5, 2022 Grocery sales hit £11.7bn over the Christmas period, as shoppers were keen to make the most of the festive period after Covid restrictions hampered celebrations last year. Shoppers spent record amounts on supermarkets’ premium own brand products, with £627m spent on pricier items over the four weeks to 26 December. This was an increase of [...]
Brits flocking to online retailers hoists UK spending above pre-pandemic levels December 31, 2021 Widespread take up of online shopping amid Covid-19 lockdowns has lifted consumer spending above pre-pandemic levels, reveal fresh figures released today. Brits spent 5.9 per cent more in 2021 compared to 2019, according to research from Barclaycard, which cover £1 in every £3 spent on debit and credit cards in the UK. The upbeat spending [...]
Best of 2021: Forest Green owner Dale Vince on saving the planet, one match at a time December 26, 2021 In this interview from March 2021, pioneering eco-entrepreneur Dale Vince discusses the rise of the football club he owns, Forest Green Rovers, the world’s first vegan and carbon-neutral team, who play on an organic pitch in kits made of recycled coffee beans. With a large green Union Jack behind him and a casually dishevelled appearance, [...]
London markets whipsaw on Omicron curbs uncertainty December 21, 2021 A whipsawing in the likelihood of fresh restrictions to curb the spread of Omicron being imposed in England is generating wild swings on London markets. The capital’s premier FTSE 100 index closed 1.38 per cent higher today to reach 7,297.41 points, while the mid-cap FTSE 250 index, which is more aligned to the health of [...]
FTSE100 dips amid inflation surge December 15, 2021 The London FTSE100 index plunged this morning after data showed that inflation rates surged to 5.1 per cent in November – its highest level in a decade. Despite the surge, investors are no longer expecting the Bank of England to raise rates. The index saw retailers such as Next and Ocado fall 2.74 and 1.79 [...]
Ocado anticipates ‘best-ever Christmas’ as it eyes new Zoom site openings December 14, 2021 Ocado has forecast its “best-ever Christmas ahead” and said it anticipated mid-teens sales growth for 2022. In a trading update for the 13 weeks to 28 November, the grocer said there was “strong momentum in under-lying demand”. It posted retail revenue of £547.8m for the quarter. This was compared to £570.1m in the same period [...]
Wine Wednesday: Buy Burgundy – and buy it now! December 1, 2021 Burgundy has established a world-wide reputation for excellent quality, premium wines, despite the term being created as an Anglicised word for marketing purposes. In France the region and wines are ‘Bourgogne’ and there is a push among winemakers in the area to reclaim this original name. Whether you call it Burgundy or Bourgogne, however, if [...]
The supermarket wars are in full swing and Tesco is beefing up to fight its turf December 1, 2021 I last saw Sir Terry Leahy in 2013, two years after his messy divorce from Tesco. He agreed to a chat about retail on the condition he wouldn’t have to talk about the supermarket juggernaut he helped to create or his successor, Philip Clarke, who’d begun to question the state of the business he’d been [...]
London markets whacked by AO World tumbling on supply chain profit hit November 23, 2021 Supply chain snarl ups and soaring costs have whacked AO World’s profits, sending the online electricals retailer’s shares tumbling, dragging the mid-cap FTSE 250 down with it this morning. In the first hour of trading, London markets plunged into the red, with the capital’s premier FTSE 100 index dropping 0.59 per cent to 7,212.35 points, [...]
City rumour mill grinds around possible mega private equity offer for Marks & Spencer November 22, 2021 As shoppers prepare for a black Friday spree, the bargain hunt for good value UK companies continues for private equity firms. The rumour mills are now grinding around a possible bid by Apollo Global Management for UK high street staple Marks & Spencer, sending shares 3 per cent higher in early trade. The New York-based private equity giant [...]