Brewing up a storm: Sales in craft beer at Tesco soar 130 per cent in a year October 17, 2016 It’s a trend that took off in the UK in the dingy East End of London by bearded men in plaid shirts. But now craft beer has become so popular in pubs across the country that demand at Tesco stores has jumped by 130 per cent in the last year alone. The supermarket started off with [...]
The fashion industry is on its steepest decline for seven years October 17, 2016 The fashion market is on its steepest decline for seven years, according to new data, with £700m wiped off the value of the UK market since last year. According to figures from Kantar Worldpanel, sales declined for the fourth month in a row in September as retailers continued to offer huge discounts to consumers. Kantar [...]
Hard Brexit or soft Brexit, does it matter? October 17, 2016 So is it going to be a “hard” or a “soft” Brexit? Since our new Prime Minister began to lay out her Brexit negotiating stance this question has become a persistent preoccupation, particularly in business circles. To consider the answer we need to separate the politics of hard and soft, from the financial and stock [...]
City AM talk with Bink cofounders Lee Clarke and Greg Gormley about resuscitating the loyalty marketing industry October 17, 2016 The road to a cashless society has been a fairly smooth one so far – the ubiquity of contactless payments and online shopping have made it so. But where cash may have once made your wallet bulge, often the weight has been replaced with a deck of loyalty cards. Before we’re quite done eradicating cash, [...]
The UK is facing a “cliff edge” on food prices, according to Nick Clegg October 17, 2016 UK food prices could spike dramatically if the UK quits the Single Market, according to former deputy prime minister Nick Clegg. Clegg, now the EU spokesman for the Lib Dems, says British shoppers will face dramatically increased bills if the UK reverts to World Trade Organization (WTO) rules after Brexit. The UK currently exports £11bn worth of agricultural products to [...]
Asos set to bag a Brexit win this week when it reports its results October 16, 2016 Asos is set to be crowned a Brexit winner this week when it reports its results for the year on Tuesday, with profits expected to rise by over 30 per cent. Half of Asos' customers are overseas, helping the online retailer mitigate against the pain of the slump in sterling. It's fortunes are in stark [...]
Employees take Tesco to court over pay cuts October 16, 2016 Tesco employees are taking the retailer to court after it cut their pay. A group of 17 workers are fighting Tesco's decision to reduce their pay on weekends, bank holidays and evenings. Law firm Leigh Day has contacted Tesco to ask how many employees are affected, but have estimated that 50,000 staff face a pay cut. [...]
Sterling slumps and stocks jump to end frantic week of trading October 14, 2016 Financial markets ended the week on a considerably calmer footing than they begun, but five days of big movements have shattered the post-referendum swagger which was creeping back to corners of the City. Sterling finished on the back foot, shedding another 0.6 per cent against the dollar to finish things off below $1.22. However, that [...]
Marmite peace settlement sends Tesco to the top of the FTSE 100 October 14, 2016 Good news about the black stuff has sent the FTSE 100 climbing higher in this morning's trading. Or, to be more precise, good news about the black stuffs. Because while the price of a barrel of Brent Crude oil rose 0.8 per cent to $52.42 this morning, and metals also headed north – good news for [...]
Marmitegate: A typical story of belligerent boardrooms October 14, 2016 Marmitegate – it divided the nation. You might even say it spread fear. Either way, Tesco revealed last night that it has resolved its feud with Unilever, producer of everything from Marmite to Ben & Jerry’s ice cream, after the consumer goods giant tried to impose a blanket 10 per cent price hike on its products due [...]