Shops’ tax bill 755 per cent higher than online rivals amid war of words over sales tax ONLINE SALES TAX Traditional brick and mortar retailers pay 755 per cent more – almost eight times – than their online rivals in business rates tax. The figures come after Sainsbury’s and Marks and Spencer execs have voiced differing opinions over the prospect of an online sales tax. Fresh analysis by real estate advisor Altus Group has found [...]
Tesco, Sainsbury’s and Greggs join forces to lobby Sunak to slash business rates COST OF LIVING Supermarket giants have reiterated calls for a cut in business rates as firms endeavour to keep prices competitive for shoppers amid rising inflation. Big names including Morrisons and Co-op have come together under a new Cut the Shops Tax campaign, organised by the Retail Jobs Alliance. In a joint letter to Chancellor Rishi Sunak, bosses [...]
Retail union ups pay ask to £12 per hour as cost of living spikes COST OF LIVING Retail firms should pay a minimum wage of at least £12 per hour, as recent pay hikes offer little respite against soaring inflation, a trade union has urged. In recent weeks, several large employers have hiked wages for shop floor and warehouse staff. Supermarket giant Tesco will raise hourly wages by 5.8 per cent from [...]
Sainsbury’s warns of lower profit as grocer anticipates inflationary pressures April 28, 2022 Sainsbury’s has warned of a lower profit for the coming year as the grocer faces uncertainties including high inflation and cost of living pressures on shoppers. Sainsbury’s posted underlying profit before tax of £730m for the 2021/2022 financial year, a 104 per cent boost on the year prior, but warned of challenges down the line. [...]
Grocers see more than £1bn wiped off value after Tesco profit warning April 14, 2022 Supermarkets had a total of more than £1bn chipped off their market value on Wednesday, after a warning over inflationary pressures from Tesco. Grocers including Ocado and Sainsbury’s suffered poor performances on Wednesday, after Tesco warned that profit could be hammered by rising costs and shifts in shoppers’ behaviour. Ocado took a hit on the [...]
35 per cent of Brits admit bulk buying amid war and inflation shortage fears, report claims April 12, 2022 Warnings have been made against claims of stockpiling food after a report claimed 35 per cent have bulk bought items recently. Consumers are reportedly purchasing items in scenes reminiscent of the start of the pandemic, amid concerns about falling production for items such as wheat and oil, impacted by the war in Ukraine. Items such [...]
Sainsbury’s becomes first big grocer to pay London Living Wage amid cost of living crisis for Brits April 8, 2022 Sainsbury’s has confirmed that it will become the first major supermarket to pay the London Living Wage. Shop workers at Sainsbury’s and Argos stores in outer London will receive £11.05 per hour, a boost of 55p, from next month. The supermarket said this means staff in the outer areas of the capital will match employees [...]
Ex-Sainsbury’s director to share helm of government Environment Agency March 29, 2022 Environment secretary George Eustice has appointed the former Sainsbury’s director as deputy chair of the government’s Environment Agency. Retail veteran Judith Batchelar will step into the new role at the beginning of April as current deputy chair Richard Macdonald’s term ends. Batchelar, who resigned from Sainsbury’s after 16 years last May, worked in the food [...]
Food industry: Government must act to tackle cost of living crisis as prices spike March 22, 2022 A food industry leader has called on the government to intervene to ease supply chain pressures on food firms as a cost of living crisis looms. Food and Drink Federation boss Karen Betts has urged ministers to act to help millions of households as they face rising food and energy prices this spring. Measures urged [...]
Sainsbury’s to shut 200 cafes as it eyes more Starbucks in stores March 1, 2022 Sainsbury’s has announced it will close 200 cafes in its stores this year as it attempts to rival discount retailers. The supermarket said 200 Sainsbury’s cafes will close to customers in the spring this year while it will roll out 30 food halls and 30 Starbucks cafes. Around 2,000 staff will be impacted by the [...]