Shop price inflation hits highest rate in more than decade amid cost of living crunch March 30, 2022 Shop price annual inflation has hit the highest rate since September 2011 as Brits face a cost of living crunch. According to data from the British Retail Consortium (BRC) and NielsenIQ, the metric hit 2.1 per cent in March. This was an increase from 1.8 per cent in February. Shoppers have flocked to discount retailers [...]
Uber Eats signs global delivery deal with BP, including 120 outlets in the UK March 29, 2022 Uber Eats will start delivering items from 120 BP outlets across the UK by the end of June as part of a new global agreement. The convenience food delivery platform has signed a deal with petrol and service station operator, with 3,000 outlets hoped to be participating across Australia, New Zealand, Poland, South Africa the [...]
Decathlon suspends activities in Russia after boycott calls March 29, 2022 Decathlon’s French tycoon owners have suspended activities in Russia after criticism following the invasion of Ukraine. The Mulliez family, who own Decathlon alongside DIY retailer Leroy Merlin and food firm Auchan, has faced boycott calls this week. “In strict compliance with international sanctions, Decathlon notes that the supply conditions are no longer met to continue [...]
Handbag maker Mulberry anticipates higher than expected revenue and profit March 29, 2022 Luxury fashion brand Mulberry has said its group revenue for the year will exceed current expectations thanks to healthy sales. In a trading update for its financial year ending 2 April, the retailer said a “robust sales trend” marked in the first half of its 2022 financial year has continued. Group revenue and profit for [...]
Shoppers turn to Aldi and Lidl as grocery price inflation exceeds 5 per cent March 29, 2022 Grocery price inflation has reached 5.2 per cent over the latest four weeks, as households brace for a cost of living crunch this spring. The rate of price hikes has hit the highest level since April 2012, according to Kantar’s index published on Tuesday morning. Shoppers are turning to discount retailers and own brand products [...]
Irn Bru maker A.G. Barr profit races past pre-Covid levels with soft drinks boom March 29, 2022 Irn Bru maker A.G. Barr has reported profit surging well ahead of pre-Covid levels, with all brands now in growth. The drinks maker said profit before tax was £41.5m for the year to 30 January 2022, up on £37.4m for the two year comparative. Roger White, chief executive, said: “We have accelerated our revenue growth [...]
Asda launches new and larger value range and kills off Smart Price in race to kickstart stalling growth March 29, 2022 Supermarket giant Asda, which was bought by the Issa brothers and backers TDR Capital last year, said this afternoon it will axe its Smart Price range and replace it with new Just Essentials by Asda products. In fact, Asda is launching a new and larger value range, amid the cost of living crisis, as the [...]
Ten Entertainment returns to profitability after pandemic hit March 29, 2022 Ten Entertainment has returned to profitability, as pent-up demand pushes consumers back to bowling alleys and arcades. The group, which operates 46 centres in the UK, swung from a more than £17m loss in 2020 into the green zone with a post-tax profit of £4m in the year to 26 December. The London-listed entertainment group [...]
Deliveroo goes for speed as it joins forces with WHSmith for new 20 minute delivery service March 29, 2022 Online delivery giant Deliveroo said this morning it will soon be able to deliver a raft of products, from printer cartridges to bestselling novels, to customers in under 20 minutes. The company has joined forces with WHSmith as it continues to expand further from its traditional takeaway delivery business. It is Deliveroo’s first major leap [...]
Shrinkflation: Cadbury reduces size of Dairy Milk bars as inflation pressures hit March 28, 2022 Cadbury has downsized the size of its Dairy Milk sharing bar as it feels the bite of rising costs. Parent company Mondelez said it was shrinking the size of the bars by 10 per cent as it faces inflationary pressures. The chocolate bar will be reduced from 200g to 180g, but still sold at £2. [...]