Deliveroo poaches Money Supermarket chief financial officer June 20, 2022 Deliveroo has poached MoneySupermarket.com’s chief financial officer for the same role at the food delivery firm. The London-listed platform announced on Monday that Scilla Grimble will join the company as CFO and board director by no later than June 2023. Current CFO Adam Miller will initially be replaced by Deliveroo’s VP for investor relations David [...]
M&S names Alex Freudmann as new director of food June 20, 2022 M&S has named Alex Freudmann as its new managing director of food after Stuart Machin has taken up the job of chief executive. The retailer announced on Monday that Freudmann, who is currently the managing director of Australian alcohol seller Dan Murphy, would lead the supermarket’s grocery arm from November. As of 1 November, CEO [...]
Tesco profit guidance ‘unchanged’ despite 1.5 per cent fall in sales amid ‘incredibly challenging’ environment June 17, 2022 Tesco said its profit guidance for the coming year remained “unchanged” despite experiencing a 1.5 per cent fall in underlying sales in the first quarter of 2022. Britain’s biggest grocery store recorded its sales for the first 13 weeks up until the end of May, and said its profit and cash outlook will stay the [...]
Battle of the brands: Lidl accuses Tesco of copying logo in High Court dispute June 13, 2022 Lidl has accused rival Tesco of copying its logo to “ride on the coattails of Lidl’s reputation as a discounter.” The claim was made by the German supermarket chain during a High Court dispute, in which Lidl said the logo for Tesco’s Clubcard Prices was too similar to its own – a yellow circle with [...]
Environment minister doubles down on food strategy despite criticism from lead adviser June 13, 2022 Food minister George Eustice has doubled down on the government’s food strategy amid criticism it has not gone far enough to help issues like obesity and food poverty. The lead adviser to the plan, restauranter Henry Dimbleby, has criticised the blueprint as “not a strategy”. “It doesn’t set out a clear vision as to why [...]
Tesco to reveal consumer spending habits with update this week June 12, 2022 Supermarket giant Tesco is set to shed more light on how customer spending is holding up as shoppers deal with rapidly increasing food inflation. The UK’s biggest grocer will reveal how trading has performed over the three months to May when it updates shareholders on Friday June 17. Tesco has been resilient despite pressure on [...]
City Moves: Who’s switching jobs in the Square Mile? June 10, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BambuBlack Asia Pacific long-only equities boutique firm BambuBlack has strengthened its investment team with a fresh portfolio manager. Pinakin Patel joins the firm in London from Allianz Global Investors in Hong Kong, where he was an investment [...]
Letters: Action, not words June 9, 2022 [Re: Watchdog bans Tesco Plant Chef ads over ‘misleading’ claims, yesterday] Tesco is the latest in a line of household name organisations being criticised for their environmental claims. Many businesses overlook the real business and legal implications that greenwashing can have. Sustainability is a deeply complicated area, and it isn’t purely reputational. Businesses are eager [...]
‘Misleading’: Watchdog bans Tesco Plant Chef ads after lacking environmental evidence June 8, 2022 Adverts for Tesco’s plant-based burgers ‘Plant Chefs’ have been banned for its “misleading” claims about its environmental impact compared to meat. In October and November 2021, Tesco ran ads which featured a woman about to eat while hearing the words on TV about the benefits of the Tesco Plant Chef burger. “The planet is continuing [...]
City veteran John Allan prepares to step down as Barratt chair June 4, 2022 Titan housebuilder Barratt is planning to begin a search for a new chairman, with City grandee John Allan to step down. According to reports by Sky News, Allan, who also chairs the country’s largest supermarket, Tesco, is readying to hand over the reins of the construction giant. Barratt has reportedly asked headhunters at Russell Reynolds [...]