John Lewis bonus falls to 10 per cent – but still gets a big cheer March 10, 2016 John Lewis Partnership staff gave a huge cheer this morning as the retailer revealed this year's bonus stood at 10 per cent – down on last year's 11 per cent boost. More than 91,000 JLP partners – who work for both the eponymous department store and Waitrose – applauded as the figure was revealed from a giant [...]
Tesco’s share price climbs as it stems declines but Asda and Morrisons crowned worst performing supermarkets in the UK March 8, 2016 Tesco has continued to stem its declines, but Asda and Morrisons have tumbled further, according to Kantar Worldpanel's latest figures for the supermarket sector. Sales at Tesco fell 0.8 per cent – meaning its performance is still well below the sector average of 0.5 per cent growth – but a relative improvement on last month's decline of [...]
How Japanese whisky became the world’s hottest tipple (and which ones you should buy) March 2, 2016 When a Japanese brand was named the world’s best whisky in 2014 – knocking Scottish distillers off the top spot for the first time – the news travelled across the globe. But to those in the know, it had been a long time coming. Japanese whiskies have been hotting up for a decade or more [...]
Morrisons’ share price climbs as supermarket and Amazon reveal Pantry and Prime Now tie up – but Ocado’s share price is plummeting February 29, 2016 Morrisons' share price soared 5.4 per cent this morning, after revealing it had secured a major new agreement with Amazon, to sell "hundreds of products" via Prime Now and Pantry. The new tie-up, which will go live "in the coming months", will see Morrisons provide a wholesale supply service to Amazon, offering delivery of its ambient, fresh and frozen products. [...]
Deliveroo co-founder Will Shu talks buffalo wings, concerned ex-colleagues and hedging bankers February 22, 2016 By the time Will Shu, co-founder of Deliveroo, launched his company, he knew acutely what problem he was trying to solve. The former investment banker grew up in Connecticut, went to college in Chicago and then went straight to work for Morgan Stanley in New York. “This was 2001, and things were very different then. The [...]
Here’s why mums go to Iceland: Supermarket beats Tesco, Asda and Morrisons to be named the best online retailer in consumer survey, and boss Malcolm Walker is clearly pleased February 15, 2016 Iceland, favourite of mothers across the nation and anybody else looking for decently priced party snacks they can stock in their freezer, has been voted the UK's best online supermarket. The league table released today by Which? gives Iceland an impressive overall customer satisfaction score of 77 per cent, ranking it above Waitrose, Ocado and [...]
Outgoing Waitrose boss Mark Price appointed trade minister for foreign office and BIS February 10, 2016 Waitrose' outgoing chief executive Mark Price has been appointed trade minister at the foreign office and the department for business, innovation and skills (BIS), the government has announced. Price will take up the role in April after the appointment was approved by the Queen today. He will replace Lord Maude who has announced plans to step down next month after [...]
UK quinoa imports surge in 2015 as Waitrose reports sales jump February 9, 2016 Britain’s appetite for novelty lunchtime salads knows no bounds. Imports of quinoa boomed again last year, as the Latin American grain went from a health-conscious fad to a mainstream staple. Shipments to the UK from Peru, the world’s biggest exporter, jumped 47 per cent in 2015 to just under 3,000 tonnes, according to customs data released this week. [...]
Ocado share price jumps as it makes its second-ever profit – and says it is “confident” of signing a big deal February 2, 2016 Ocado has reported its second-ever pre-tax profit, which jumped 65 per cent in the year to the end of November. And the company was dropped a couple of hints which could relate to those rumours of a tie-up with a certain giant ecommerce site… The figures In a statement today, Ocado said gross retail sales rose to £1.1bn in 2015, up 14.7 per [...]
How Tyrrells aims to be the big cheese (and onion) of the crisp world January 28, 2016 Six years ago, David Milner received a phone call from private equity firm Langholm Partners, the former owners of Tyrrells Crisps. They needed help. After an eight-year growth spurt, sales at the posh crisp brand had turned rather stale and Langholm wanted the former Mars and Campbell’s Soup executive on board. “The first thing I [...]