Brits spend £4.1bn drinking beer at home during cost of living and price of a pint crises July 4, 2023 Brits are staying at home and cracking open cold beers from the fridge, as twin cost of living and price of a pint crises change drinkers’ habits. New research out today show a 25 per cent surge in beer sales in supermarkets and shops outside local boozers, during the cost of living crisis. While the [...]
Sainsbury’s: ‘Food inflation starting to fall’ as supermarket giant reports grocery sales surge by 11 per cent July 4, 2023 Sainsbury’s has claimed “food inflation is starting to fall” as it recorded an 11 per cent hike in grocery sales in the first leg of the year. The ‘Big Four’ grocer, recorded an inflation-led 9.8 per cent like-for like-increase in total retail sales excluding fuel in the first quarter of the year up from 4 [...]
CMA takes aim at supermarkets for weakening fuel price competition – as Brits pay nearly £1bn more for fuel July 3, 2023 Increased supermarket profit margins led to drivers paying almost £1bn more for fuel last year, the Competition and Markets Authority (CMA) has found. Following a year long investigation, the watchdog said today that average supermarket fuel margins rose by 6p per litre between 2019 and 2022, with £900m syphoned out of customers pockets in total. [...]
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 [...]
Retailer insolvencies jump to higher level than pandemic as brands buckle under economic pressure July 3, 2023 A squeeze on shoppers’ finances has increased the number of retailers being plunged into hot water, new research shows, as the cost of living crisis continues to decimate businesses. As inflation sits at a sticky 8.7 per cent, the number of retailers entering insolvency jumped 56 per cent in the past year, according to figures [...]
Gerry Murphy: Who is Tesco’s new chair? July 2, 2023 Two months after Tesco’s former chair John Allan stepped down following allegations of sexual misconduct the ‘Big Four’ grocer has appointed boardroom heavyweight Gerry Murphy to fill the role. Dr. Murphy, an Irish businessman, is already the chairman of luxury fashion brand Burberry and sugar manufacturing business Tate & Lyle, however will step down from [...]
Gerry Murphy to take chairman role at Tesco after John Allan resignation July 2, 2023 The UK’s biggest supermarket chain Tesco has appointed a new chairman after his predecessor stepped down amid allegations of inappropriate behaviour. Dr Gerry Murphy, current chairman of luxury fashion brand Burberry and Tate & Lyle, the ingredients maker, is to replace John Allan in the top job, Tesco said. He will take up the role [...]
Tesco slashes price of 500 essentials including fruit and veg, rice and tuna to help shoppers with cost of living June 30, 2023 Tesco has cut the price of more than 500 household essentials, in a boost to shoppers after the surge in the cost of living. The supermarket giant confirmed reductions in the price of key products such as fruit and vegetables, rice and tuna, as retailers have faced growing scrutiny over higher food costs. Latest official [...]
Vodafone CEO: A merger with Three isn’t a threat to national security or competition June 30, 2023 Vodafone chief executive Ahmed Essam has defended plans to merge with Three.
Teasing supermarket execs won’t stop inflation, it’s suppliers we need to grill June 28, 2023 Supermarket bosses are an easy shot, but its suppliers making profits which would dwarf those of Tesco or Sainsbury's.