FTSE 100 close: Ocado delivers bumper gains while Next zips lower March 29, 2023 London’s FTSE 100 was hoisted higher by the UK’s largest retailers surging today, except high street bellwether Next, which stumbled badly. The capital’s premier index bumped more than one per cent to 7,564.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged 1.28 per [...]
Can online favourite Ocado make a comeback, or will its share price sink lower? March 28, 2023 Ocado’s share price fell nearly six per cent in afternoon trade as the “magic” of the online retailer’s venture with Marks and Spencer did little to buoy the confidence of investors In its start of year trading update Ocado revealed that retail revenue grew slightly by 3.4 per cent, although a 7.5 per cent decrease [...]
Supermarket wars: Lidl and Aldi gain ground on Tesco as bargain-hunting Brits battle grocery inflation March 28, 2023 Lidl is the UK’s fastest growing supermarket as bargain-hunting Brits turn to the discount grocer during the cost of living crisis. With grocery inflation now at 15 per cent, new figures published by Kantar this morning show value outlets have seen an uptick in sales last month. Sales in the German supermarket Aldi rose 25.8 [...]
The imperfect tonic: Fever-Tree to raise prices amid soaring cost inflation March 22, 2023 Up market tonic maker Fever-Tree has revealed plans to hike its prices, as it continues to navigate a surge in production costs. The company said made a loss in earnings for the year with revenues down 0.2 per cent to £116.2m from £118.3m the prior year. The London-listed adult drinks company said it felt the financial [...]
Milk, meat and fruit worst affected as supermarket groceries DOUBLED in cost over last year, Which? says March 22, 2023 The cost of some everyday groceries has more than doubled over the last year, consumer brand Which? has found. The company analysed inflation on more than 25,000 food and drink products at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose. Which? looked at the average price of the products in the three [...]
A supermarket crackdown on seasonal workers picking UK fruit is too little, too late March 22, 2023 Our farms heavily rely on seasonal workers. But the system is ripe for exploitation - and supermarkets and other stakeholders have a responsibility to fix it, writes Elena Siniscalco
Morrisons slashes prices AGAIN as supermarket attempts to woo Aldi and Lidl shoppers back to its aisles March 20, 2023 Morrisons is slashing prices for the third time in three months as it attempts to drag shoppers back from value retailers including Aldi and Lidl. The supermarket said it was cutting the prices of 460 items such as beef mince, cleaning products and fruit, in a move that followed on from a round of price [...]
Calls to overhaul ‘antiquated’ trial rules grow as SFO forced to drop G4S case March 14, 2023 The UK’s Serious Fraud Office (SFO) on Friday said it would be dropping its case against three former G4S executives over claims they defrauded the UK government of tens of millions of pounds. The collapse of the SFO’s case came after G4S itself took responsibility for the fraud that saw it mislead Britain’s Ministry of Justice [...]
Aldi to lift restrictions on fresh produce as shortages ease March 11, 2023 Aldi said it will remove all customer limits on buying fresh produce as supply issues which led to widespread shortages begin to ease. The supermarket joins Lidl and Asda in lifting restrictions. Aldi said in a statement on Saturday: “From Monday (March 13), Aldi will remove all purchasing restrictions on fresh produce – including limits [...]
Charges dropped against three former G4S executives accused of defrauding taxpayers March 10, 2023 Charges have been dropped against three former executives of G4S’s electronic tagging arm who were accused of defrauding the Ministry of Justice following a 10-year investigation. G4S Care and Justice Services had provided electronic monitoring services to the government from 2005 to 2013. The subsidiary of security giant G4S was accused of misleading the MoJ [...]