Category Archives: Retail industry

UK single parents skipping meals due to food price inflation, Which? finds

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Consumer body says one in three lone parents forced to miss meals or visit food banks to make ends meet

Close to a third of single parents have resorted to skipping meals to make ends meet because of rising food costs, according to research revealing the household types worst hit by the cost of living crisis.

Three in 10 single parent households surveyed said they had missed meals as a consequence of runaway food prices. That compared with one in seven parents in couples and an overall figure of 14% in the poll by the consumer group Which?

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EasyJet looks to over-45s in cabin crew recruitment drive

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Airline launches campaign targeting ‘empty nesters’ or people looking for challenge later in life

The airline easyJet has launched a recruitment drive urging people over the age of 45 to join its cabin crews, as firms devise new strategies for hiring staff in the UK amid a shortage of workers.

The airline said it has seen a 27% increase in crew aged 45 and over in the past four years, including a 30% increase in over-60s in the past year.

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G4S strike prompts fears of festive cash shortages at banks and shops

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More than 1,000 staff who deliver money to firms such as Barclays, Asda and Tesco to take action

More than 1,000 security workers who deliver cash and coins to some of the UK’s biggest banks and supermarkets have voted to strike in December, raising the prospect of potential cash shortages in the run-up to Christmas.

The 48-hour strike by 1,156 members of the GMB union who work for the security company G4S is due to take place from 3am on 5 December, after a 97% vote in favour of industrial action in a dispute over pay. However, only 665 workers voted in the ballot, a turnout of 58%.

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UK retailer AO World reports bigger losses amid living costs crisis

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Online electrical store is cutting costs but faces ‘tough environment’ and supply chain problems

The online electrical goods retailer AO World has reported bigger half year losses as it has been hammered by the cost of living crisis and supply chain problems.

AO, which sells kitchen appliances, mobile phones and laptops for home delivery, warned of tough times ahead, but raised its full-year earnings guidance after closing loss-making divisions and its German business. This drove its shares 15% higher, but they are down more than 40% so far this year.

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Luxury goods boom in Britain as the young, rich and mortgage-free buck the recession

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Rich kids of Insta use strong dollar to fuel sales of high-end brands such as Burberry, Louis Vuitton and Gucci

They’re young, rich and mortgage-free, and the scions of the 1% are having a roaring twenties.

Despite the economic gloom currently shrouding the UK and many other western countries, sales of luxury brands have been booming and growing numbers of buyers are young adults.

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Festive rush for Aldi’s Kevin the Carrot as 70,000 queue online for ad toys

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Merchandise linked to supermarket’s latest Christmas campaign sells out online hours after going on sale

More than 70,000 shoppers have queued online and hundreds lined up outside UK stores to get their hands on Aldi’s toys and merchandise based around its Kevin the Carrot adverts.

By 10am, several versions of the soft toys had already sold out online amid high demand for merchandise linked to the hero of the discount grocery store’s festive campaign.

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Aldi’s 29p mince pie a close second to Waitrose’s winner in blind taste test

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Waitrose’s No 1 Brown Butter pies wowed with their ‘buttery aroma’, while Aldi’s, at half the price, scored just one point less

Tucking into a mince pie is usually the first sign Christmas is on the way and with budgets under pressure this year getting your fix doesn’t have to break the bank, with a 29p pie from Aldi coming a close second to Waitrose’s brown butter pastry in a taste test.

The upmarket supermarket’s No 1 Brown Butter Mince Pies came top in a “rigorous” blind taste test conducted by Which?. They wowed the panel of baking experts with their “buttery aroma” and “citrussy aftertaste” to achieve the top score of 74%, earning the consumer group’s coveted “best buy” badge of approval.

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Fashion firm Joules falls into administration putting 1,600 jobs at risk

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Shops will stay open while administrators assess options for the company

The fashion firm Joules has formally fallen into administration, putting 1,600 jobs and the future of the retailer’s 132 shops at risk.

The company said on Monday it had filed a notice to appoint administrators after failing to secure emergency funding. It has now hired administrators from Interpath Advisory, who said shops would stay open while they “assess options for the business”.

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Wall Street surges and dollar tumbles as US inflation rate drops to 7.7% – business live

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Dollar slides and stocks rally in New York on hopes that the Federal Reserve will slow its interest rate rises

The cost of living crisis is driving UK food banks to “breaking point” with almost 1.3m emergency parcels given to people over just six months.

The Trussell Trust charity has said families face record-breaking levels of need, with one in five individuals referred to its network now coming from working households.

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WH Smith investors to reap first dividend in three years as sales soar

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Firm reports £63m profit in year to August and prepares for strong Christmas sales at travel hubs

WH Smith will pay a dividend for the first time in three years as it expects a strong Christmas after a return to foreign holidays helped the books-to-stationery retailer return to the black.

The company reported a £63m profit in the year to August, after a loss of £116m a year earlier, as sales soared 58% to £1.4bn.

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M&S faces ‘gathering storm’ as joint venture with Ocado makes loss

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Marks & Spencer profits fall by almost 24%, although clothing, food and international sales rise

Marks & Spencer has said it faces a “gathering storm”, with next year likely to be more challenging than this after reporting a near 24% fall in profits.

The clothing, food and homewares retailer said sales rose 8.8% to £5.6bn in the six months to 1 October but underlying pre-tax profits sank 23.7% to £205.5m as its Ocado online grocery joint venture fell into the red and it pulled out of Russia.

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Made.com enters administration, putting about 500 jobs at risk

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Online furniture retailer’s brand, domain names and intellectual property bought by Next

The online furniture retailer Made.com has collapsed into administration after weeks of speculation, putting about 500 jobs at risk and leaving customers disappointed.

The company’s brand, domain names and intellectual property were immediately bought by the fashion and homeware retailer Next.

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Lively guinea pig and giraffe toys flagged as ‘Christmas bestsellers’

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Toy Retailers Association selects likely ‘must-haves’ for British market with eye on strained budgets

An interactive guinea pig which has babies and a “booty shaking” disco giraffe are predicted to be among the bestselling toys this Christmas as retailers battle for custom with toy ranges tailored to suit “every budget”.

With the cost of living crisis looming large, the DreamToys list drawn up by the Toy Retailers Association (TRA), features a selection of cheaper toys this year, with eight of the top 12 under £35. The cheapest item on the list is an £8 Squishmallow, a cuddly toy expected to be a popular stocking filler.

Barbie Cutie reveal doll £33

Gabby’s Purrfect Dollhouse £80

Goo Jit Zu figurine £11

GiGi the Giraffe £28

Mama Surprise £65

Magic Mixies Mixlings Magic Castle £30

Paw Patrol Big Truck Pups vehicle £18

Pokémon Elite Trainer set £42.50

Rainbow High fashion doll £32

Sink N’ Sand game £20

Original 7.5in Squishmallows £8

Lego Star Wars Hoth AT-ST £45

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UK food prices soar by fastest rate on record as cost of living crisis bites

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Rise of 11.6% in October from 10.6% a month earlier comes as milk, teabags and sugar become more expensive

Food prices in the UK soared by 11.6% in October – the fastest rate on record – as staples such as teabags, milk and sugar became more expensive along with fresh food, data shows.

Annual food inflation rose from 10.6% in September, the latest monthly report from the British Retail Consortium and the data firm Nielsen showed.

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Ocado shares soar as it signs deal with South Korean retailer

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Online grocer to build robotic warehouses for Lotte Shopping in boost after slowing sales

The online grocer Ocado has struck a deal to build robotic warehouses for a South Korean retailer, sending its share price rocketing.

Under the deal with Lotte Shopping, Ocado will also provide technology for online grocery orders from Lotte’s stores. Financial details of the partnership were not disclosed.

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‘Fix the faults’: Coles criticised for using carbon credits from controversial project

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Carbon-neutral farmer says use of offsets from Armoobilla project ‘outrageous’ but company says they meet ‘rigorous requirements’ of government standard

A farmer who was assured by Coles that it would look for better carbon offsets for its “carbon-neutral” beef has described the supermarket’s continued use of credits from the Queensland Armoobilla regeneration project as “outrageous”, claiming the project is a “greenwash”.

When carbon-neutral sheep and cattle farmer Mark Wootton called on companies to ensure the integrity of farm offsets used for carbon-neutral products back in April, Coles staff had assured him that the supermarket would “look for a better alternative” once their contract with Armoobilla finished in July.

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Griff Rhys Jones criticises M&S plan to raze and rebuild Oxford Street store

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Comedian and campaigner tells planning inquiry retailer is failing to use landmark building imaginatively

The comedian Griff Rhys Jones is the latest high-profile name to weigh in against Marks & Spencer’s plan to raze and redevelop its main London store, accusing the retailer of not making the most of its landmark building.

Jones, who presented the BBC TV series Restoration in the 2000s, which identified significant buildings in need of repair, told an inquiry into the development of the store on Oxford Street near Marble Arch that, having shopped there, he “would venture that M&S are not using the space in a very imaginative way compared to the possibilities old buildings offer. I wonder if the ‘unsuitability’ has more to do with the desire to create a much bigger floor space and offices.”

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Frasers builds 5% stake in Asos to become fourth-largest investor

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Mike Ashley’s increased holding comes after online retailer reported slowing sales and full-year loss

The billionaire retailer Mike Ashley has built up a stake of more than 5% in the online fashion retailer Asos.

His fashion and sportswear retailer Frasers Group informed Asos on Friday that it had become one of the company’s most signifiant shareholders.

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THG shares rise after SoftBank sells stake to Moulding and Qatar

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Founder of online shopping group cements control as Japanese firm offloads its holding at £450m loss

THG shares have jumped on the news that Japan’s SoftBank will sell its stake in the troubled British online shopping group to its co-founder Matthew Moulding and Qatar’s sovereign wealth fund.

The move has cemented Moulding’s control of THG, formerly known as The Hut Group, which owns a range of internet health and beauty retailers, and ended speculation about SoftBank’s disastrous investment.

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Thousands of salaried Tesco workers forced to take real-terms pay cut

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A 3% pay rise for team managers amid 10% inflation comes after a string of wage rises for hourly staff

Thousands of Tesco staff have been forced to take a large real-terms pay cut as the supermarket puts a squeeze on store managers while offering bigger wage rises for lower-paid workers.

In the latest pay battle amid the cost of living crisis, the retailer’s team managers, who earn about £30,000 a year, say they have received as little as a 3% pay rise. The official rate of inflation is close to 10%, and expected to hit 11% this month.

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