Food suppliers squeezed as supermarkets play hardball in Brexit price talks January 10, 2017 Food suppliers are being squeezed as supermarkets play hardball in talks over which side should shoulder the burden for the devaluation of the pound, new figures suggest. Research from insolvency firm Begbies Traynor shows 6,000 food suppliers were showing signs of financial distress in the final quarter of 2016, an increase of 13 per cent [...]
Supermarkets are leading the FTSE 100 after Morrisons’ stellar results January 10, 2017 Supermarkets are leading the FTSE 100 risers today after positive data on the sector's sales over Christmas – and a strong update from Morrisons. Morrisons' share price was up 3.64 per cent at time of writing after the Bradford-based grocer reported a 2.9 per cent jump in like-for-like sales for the nine weeks to 1 [...]
Morrisons reported strong Christmas trading numbers this morning – here are the best reactions January 10, 2017 Morrisons is having a lovely morning, with shares up four per cent on news that the supermarket's sales growth over the Christmas period was at its strongest for seven years. The group reported a 2.9 per cent jump in like-for-like sales excluding fuel, and said Morrisons.com had achieved its biggest ever week for sales in [...]
Supermarkets had a record Christmas – but prices are rising January 10, 2017 Supermarkets had a record Christmas period in 2016, with sales growing at their fastest rate since June 2014, but prices are finally starting to rise following the Brexit vote. The latest figures from Kantar Woldpanel show that sales were up 1.8 per cent for the 12 weeks ending 1 January. Consumers spent nearly half a billion pounds [...]
Consumers wasted a whopping £13bn of edible food in 2015 January 10, 2017 Consumers threw out £13bn – 7.3m tonnes – worth of perfectly edible food in 2015. That generated 19m tonnes of carbon emissions, equivalent to those generated by one in four cars on UK roads, according to food waste reduction charity Wrap. However, 60 per cent of us believe we waste either no food or hardly any. Wrap has built off its work with [...]
Manufacturing giant Premier Foods to increase prices due to Brexit vote January 10, 2017 Premier Foods, the supplier of iconic brands such as Mr Kipling cakes and Bisto gravy, is in talks with its major retail customers about lifting prices due to a double whammy of weaker sterling and higher commodity costs. City A.M. can reveal that the listed food manufacturer last month opened discussions with the likes of [...]
Tesco to shed 1,000 members of staff from distribution business in streamlining move January 9, 2017 Tesco is set to lay off 1,000 members of staff from its distribution network as part of a wider streamlining programme. The proposed changes will reduce the number of its distribution centres in the UK from 25 to 23 and will result in 1,000 redundancies. However, the move will also create 500 new jobs, leaving a net [...]
Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]
Here are five of the best alcohol-free and low alcohol beers to drink during Dry January January 5, 2017 Although you might have imagined yourself spending Dry January at the gym, cooking up healthy meals in your kitchen or proudly mastering the art of the homemade mocktail, chances are you'll find yourself in a pub at some point. Before you give in and order your standard pint, try one of the many surprisingly flavourful low or zero or [...]
Shop prices continued to fall over Christmas – but inflationary pressures are pushing up clothing prices January 4, 2017 The British Retail Consortium (BRC) has called the start of a likely rise in inflation as it reported overall shop prices fell by 1.4 per cent in December, a deceleration from the 1.7 per cent fall in the previous two months. The sharp fall in the value of the pound since the Brexit vote has not [...]