Consumer confidence plunges to Covid lockdown lows as households’ financial worries spiral July 6, 2022 Consumer confidence in the economy has plunged to its lowest point since the start of the pandemic as Sainsbury’s top boss warned the worst was yet to come. According to Which? research published today, only eight per cent of consumers felt the UK economy would improve over the next 12 months. However, nearly eight in [...]
M&S shareholders rebel over outgoing boss Steve Rowe bonanza £1.6m bonus at AGM July 5, 2022 A significant minority of M&S shareholders protested a £1.6m bonus payout to former top boss Steve Rowe at the supermarket’s AGM on Tuesday. After the digitally-held meeting, the grocer said all its resolutions had been approved “with substantial support,” with some 70 per cent of votes in support of its remuneration policy. Some critics had [...]
Whiskas and Pedigree owner halts supplies of pet foods to Tesco in latest price dispute July 5, 2022 Tesco shoppers looking for pet food brands Whiskas and Pedigree have been left disappointed after supplies were paused in another price row involving the UK’s largest grocer. The supermarket explained empty shelves by arguing it had refused to “pass on unjustifiable price increases” to its shoppers, The Guardian reported. In images posted by Steve Dresser, [...]
Back to school: M&S freezes school uniform prices as retailer battles to entice cash strapped shoppers July 5, 2022 M&S has frozen its prices on school uniform this summer as households face tightening budgets amid historic rates of inflation. The premium retailer also said it was introducing a 20 per cent off deal for back to school shoppers this month. The retailer – which was set to hold its annual general meeting for shareholders [...]
Sainsbury’s boss has grim warning for Brits: The pressure on your budgets will only intensify July 5, 2022 The CEO of Sainsbury’s warned this morning that rising pressure on household budgets “will only intensify over the remainder of the year” as he pledged to invest more money into improving value for shoppers. Simon Roberts, chief executive of the supermarket group, said it is working to reduce costs across its operations amid continued inflation. [...]
Exclusive: London fintech Revolut launches first card reader in venture into physical retail July 5, 2022 London fintech Revolut is making its first venture into physical devices with the launch of a card reader for shops and restaurants. Revolut, which now caters to a global customer base of 18m and garnered a $33bn valuation in its latest funding round, told Morning Wire it was launching the device in UK and Ireland. [...]
Teens in suits banned from UK cinemas as TikTok craze around new Minions: The Rise Of Gru takes off July 5, 2022 Reports are coming in that young people wearing suits during screenings of Minions: The Rise Of Gru are being banned from UK cinemas. The decision comes after some young moviegoers were criticised for rowdy behaviour after a viral trend erupted on the social media app TikTok. The trend involves large groups of teenage boys, who [...]
MADE hires fresh Chief Customer Officer just months after it slashed 2022 expectations July 5, 2022 Lifestyle brand Made.com has appointed its first ever Chief Customer Officer Dan Elton as it tries to ride its ongoing difficulties. The role will involve leading MADE’s Marketing, Digital and Customer Experience teams, as well as accelerating MADE’s growth in mainland Europe. It comes after MADE slashed its 2022 expectations back in May, with both [...]
Quiz returns to profit for full year as the party season makes a comeback July 5, 2022 Quiz returned to annual profit this morning thanks to recovering party plans and end of lockdown measures. The British company posted underlying pre-tax profits of £788,000 for the year to March 31 following losses of £9.6m the previous year. It comes after the company reported strong online growth, with a 66 per cent increase in [...]
Saga on track for profits as pandemic recovery continues July 5, 2022 Over-50s specialist Saga said it was on track to return to profits today as it continues its recovery from a pandemic slump.