Category Archives: Retail industry

John Lewis boss calls for Covid-style cost of living aid package

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Dame Sharon White follows Tesco chief in urging UK government to help with rising energy and grocery bills

The boss of John Lewis has urged the governmentto intervene with a financial package of support to protect families from the cost of living crisis on the same scale as it did to help the nation deal with the Covid pandemic.

Dame Sharon White, a former second permanent secretary at the Treasury, said the government needed to act urgently as families struggle to pay utility and food costs as energy bills and inflation soars.

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Boohoo likely to raise prices after pre-tax profits fall 94%

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Fast fashion retailer blames delivery disruption and wavering pandemic demand for increasing costs

Boohoo has admitted its clothing prices are likely to rise this year after profits almost halved amid weakening consumer demand and rising costs.

The online fashion specialist said pre-tax profits fell 94% to £7.8m in the year to 28 February. Sales rose 14% to almost £2bn but growth was down more than 40% in the previous year, as deliveries overseas were held up by disruption to international shipping and wavering demand during the pandemic.

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Rising feed prices mean chicken could soon cost as much as beef, says Co-op

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Price of UK’s most popular meat is rising faster than any other protein, according to retailer’s boss

Chicken’s relative affordability has helped make it the country’s meat of choice but one of the UK’s biggest food retailers has warned it could soon be as pricey as beef as production costs soar.

Steve Murrells, chief executive of the Co-op, said that feed costs had become a huge challenge for the poultry industry. “Chicken could become as expensive as beef. Chicken, which was incredibly cheap and great value for money, is rising quicker than any other protein.”

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Why are UK supermarkets rationing cooking oil?

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Tesco, Morrisons and Waitrose have limited sales after concerns over shortages caused by Ukraine war

The latest supermarket data from Kantar shows shoppers have been stockpiling cooking oil due to concerns about the shortage of sunflower oil caused by the Russia-Ukraine war.

Here we look at what’s behind the shortages, what the situation means for consumers and how long it might last.

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Shelf shock: soaring supermarket prices shoppers find hard to swallow

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From dog food to coffee, readers are reporting some basic goods’ prices are rising by far more than inflation

Inflation is rampant, and supermarket prices are no exception. Shoppers are returning to stores to find old favourites have leapt in price from one week to the next. The cost of consumer goods is spiralling at such a rate that retail analysts have coined a new term, shelf shock.

Nestlé, the owner of KitKat, Häagen-Dazs and Felix cat food, became the latest consumer goods group to warn of more pain to come on Thursday, saying it had raised prices by 5.2% in the first three months of this year and that rising production costs would force another increase soon.

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UK consumer confidence even lower than in 2008 financial crisis

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Slowdown in retail sector feared as public gripped by pessimism about the economy as well as personal finances

Fears that Britain is heading for a marked slowdown in consumer spending have intensified as it emerged that the public is gloomier about the economy than when banks were on the brink of collapse during the financial crisis of 2008.

A combination of rocketing energy prices, higher taxes and a surge in the annual inflation rate to its highest level in three decades meant confidence was in freefall, according to the latest monthly snapshot of sentiment.

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Co-op to ditch use-by dates on its yoghurt to cut waste

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UK consumers urged to use their judgment rather than chuck away products that are safe to eat

The Co-op is removing use-by dates from its own-brand yoghurt in an attempt to address the problem of millions of pots that are still safe to eat being wasted each year.

Instead, starting next month, the Co-op’s own yoghurts will carry a best-before date, with shoppers encouraged to “use their judgment” to gauge if they are edible. About 42,000 tonnes of yoghurt – £100m worth – is thrown away in British homes each year because it is out of date, according to the food waste charity Wrap. Half are dumped in unopened packs.

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THG rejects ‘unacceptable’ takeover approaches as revenues jump by 35%

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Online shopping group says it has dismissed ‘multiple’ attempts to buy company

Online shopping group THG has dismissed “numerous” takeover approaches as “unacceptable”, saying they undervalued the company.

Manchester-based THG (formerly known as The Hut Group), which runs beauty and nutrition websites including Lookfantastic, Cult Beauty and Myprotein, confirmed there had been interest from third parties, but said the company was not currently involved in any talks.

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Next and group of investment firms buy JoJo Maman Bébé

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Baby clothing and maternity wear retailer grew from kitchen table startup

The baby clothing and maternity wear retailer JoJo Maman Bébé – whose high-profile customers include the Duchess of Cambridge – has been snapped up by the high street company Next and a group of investment firms.

Laura Tenison, who started the business in 1993 from her flatshare kitchen table and turned it into one of the UK’s leading mother and baby retailers, said the new owners had “exciting plans to expand and grow the brand much faster than we ever could, giving us the opportunity to open in new markets”.

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Shirtmaker TM Lewin could return to UK high street in rescue deal

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Company’s lender, understood to be Petra Group, said to be considering possibility of opening stores

The shirtmaker TM Lewin could return to the high street after being rescued from administration by its main lender, understood to be Petra Group.

It is not clear if the group’s 50 staff will be kept on under the rescue deal for TM Lewin, which called in administrators last month for the second time in less than two years.

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Union rejects pay rise of £1,500 for BT staff and plans strike ballot

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CWU bosses say increase is relative cut in salary but BT says it is its biggest award in two decades

BT has given 58,000 workers a £1,500 pay rise that it says is its biggest award in two decades, despite its largest union rejecting the deal and saying it intends to ballot members over strike action.

Last week BT had a £1,200 pay rise offer rejected by the Communication Workers Union (CWU), which represents about 40,000 of the company’s 100,000 employees, with union bosses describing it as “insulting” and a “relative pay cut” as soaring inflation fuels a cost of living crisis.

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Bounce in Easter retail as trend for seasonal decorations grows

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High demand for crackers, wreaths and trees as sales soar beyond traditional bunnies and chocolate

Traditionally a time for bonnets, bunnies and a surfeit of chocolate, Easter has increasingly taken on a new aspect, and more so since the lifting of Covid-19 restrictions.

Easter crackers, Easter wreaths, and Easter trees are now critical components in the commercialisation of the Christian festival, with the bank holiday beginning to look a lot like Christmas.

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Deliveroo extends its range adding new partner WH Smith’s products

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Deliveries will start in Reading, as the takeaway service continues its expansion into new areas.

Books, stationery, phone chargers, toys and exam study guides are the latest items to be ferried to customers on fast-track delivery bikes via a partnership between WH Smith and Deliveroo.

The high street retailer will offer 600 products for delivery in as little as 20 minutes, joining similar services offered by supermarkets, pharmacies and takeaways.

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‘I am watching my business fall apart’ – Can retailers survive inside Putin’s Russia?

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A local partner of one British brand says his hopes are fading and risks deepening as stock dwindles

Western brands have swiftly moved to shut down operations in Russia since the invasion of Ukraine, wiping well-known goods from the shelves. But what does it feel like for those trying to run businesses in the country?

The Russian partner of one western brand shares their story.

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Free-range eggs unavailable in Britain from Monday

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Hens have been indoors for months because of avian flu and their eggs must now be differently labelled

Consumers will no longer be able to buy free-range eggs in the UK from Monday, with birds not having been allowed outdoors since November due to fears of avian flu outbreaks.

Eggs sold in shops will have to carry a sticker or label saying they are in fact “barn eggs”, the name given to eggs produced by hens permanently housed indoors.

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Tory MP backs calls for Marks & Spencer stores in Russia to close

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Retailer says it has stopped supplying its franchisee’s business in Russia, but the shops remain open

A Conservative MP has backed calls for dozens of Marks & Spencer stores across Russia to be shut immediately, suggesting Vladimir Putin is funnelling every rouble made in the country into the invasion of Ukraine.

Alicia Kearns, who hosted four Ukrainian parliamentarians in the House of Commons on Thursday, said any profits generated would be tainted by the killings and war crimes committed during the conflict.

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‘Just not the right time’: Victoria urged to keep mask rules for key workers

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Epidemiologists say calls by business to relax mask rules as case numbers escalate is ‘down the rabbit hole thinking’

Victorian business leaders pushing to scrap mask mandates for hospitality and retail workers are “clearly not following the trend” in rising cases, according to epidemiologists who say now is not the time to relax rules.

The state’s premier, Daniel Andrews, on Thursday rejected a push from the Australian Hotels Association, the Australian ­Retailers Association and the Victorian Chamber of Commerce and Industry who told the Herald Sun they wanted national consistency on mask mandates and warned workers could leave the sectors for other jobs.

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Wagamama owner and Fever-Tree warn of cost increases as energy prices soar

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The Restaurant Group mindful of impact of Russia-Ukraine war, while drinks maker lowers profit guidance

The drinks maker Fever-Tree and the owner of the Wagamama and Frankie & Benny’s restaurant chains have warned of dramatic cost increases as the price of commodities and gas and electricity soars and the war in Ukraine adds pressure to their businesses.

Fever-Tree has lowered its profit guidance, blaming a “dramatic increase” in commodity prices after Russia’s invasion of Ukraine. The company, which had forecast adjusted profits of £69m to £72m this year, has downgraded its outlook to between £63m and £69m.

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M&S boss Steve Rowe to step down after close to 40 years with retailer

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Rowe to be replaced by head of food business Stuart Machin, with Katie Bickerstaffe as co-chief executive

Marks & Spencer’s chief executive, Steve Rowe, is stepping down in May after nearly 40 years at the business he joined straight from school.

Rowe, who has spent six years overseeing the beginnings of a turnaround in the retailer’s fortunes after years in the doldrums, is to be replaced by the boss of its food business, Stuart Machin.

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Ikea closes all stores and factories in Russia amid exodus of western firms

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Top brands from M&S to Apple, Jaguar Land Rover, Expedia and Coca-Cola are suspending operations

Ikea has temporarily closed all stores and factories across Russia in a move affecting 15,000 workers, becoming the latest in a swathe of western firms to halt operations in the country since it invaded Ukraine.

The Swedish flatpack furniture company has mothballed its 17 outlets across Russia but said it would keep its Mega shopping centres open to allow access to essential retailers, such as food shops and pharmacies. The news prompted a rush of shoppers at the stores due to close.

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