Petrol price plummets to below 150p for first time since Russia invaded Ukraine January 10, 2023 The average price of petrol has fallen below 150p per litre for the first time in more than 10 months. Figures from data company Experian show the average price of a litre of the fuel at UK forecourts on Monday was 149.7p. The reduction of nearly 42p from the record high of 191.5p in July last year, [...]
Cost cutting efforts working: AO World’s outlook upped for third time in three months February 28, 2023 Online electricals retailer AO World has hiked it annual earnings outlook for the third time in just over three months as it said cost-cutting efforts were paying off. The Bolton-based group said its profitability has seen a better-than-expected improvement as it drives cost savings thanks to a “resilient” customer base. AO World said price increases [...]
Discounters Aldi and Lidl keep taking market share as Brits now pay £571 more for groceries September 13, 2022 Discounter Aldi has become Britain’s fourth largest supermarket for the first time while Lidl’s market share is also in the lift, according to new data out this morning. The findings come as Brits are now paying a record £571 more on average for their groceries than last year Grocery price inflation hit 12.4 per cent [...]
The Works sales boosted by return to school despite cost of living crisis November 11, 2022 Arts and crafts chain The Works has seen sales increase in the past six months despite the cost of living crisis, carried by a “record” ‘back to school’ season. Brits splashed the cash on new stationary for their children this year, according to The Works’ latest trading update. The cost of living crisis does not [...]
Problems at Asda look set to continue as workers strike again July 24, 2024 This week, Asda workers - with the support of GMB union - announced the latest strike action in a months-long string of collective action and demonstrations.
Exclusive: Laybuy up for sale after turbulent time on public markets April 16, 2024 Buy-now pay-later firm Laybuy has put itself up for sale and is hunting for potential buyers following a turbulent few years on the public markets, City A.M. can reveal.
Crunch time: Cérélia forced to sell Jus-Rol after court dismisses appeal April 12, 2024 French pastry maker Cérélia has been ordered to sell frozen pastry Jus-Rol after losing an appeal against the competition watchdog. US based food company General Mills, which owns Jus-Rol, announced in November 2021 that it agreed to sell its European dough businesses to Cérélia. With an annual turnover of €800m (£682m), Cérélia brands include Croustipate, [...]
Next boss Lord Wolfson: London’s High Streets had ‘more to worry about’ four years ago despite loss of brands like Topshop January 5, 2023 Next boss Lord Wolfson has “less reason to worry about the high street” compared to a few years ago, on the tail of a slew of household names shuttering. Physical retail was in a less concerning position than in recent years, when a switch to online shopping signalled a death knell for many staple retailers, [...]
Revolution Beauty looks to soothe jitters amid Boohoo boardroom bust-up June 23, 2023 Revolution Beauty has looked to soothe investor jitters with a trading update today after an attempted boardroom coup from e-commerce Boohoo earlier this week. London-listed beauty group Revolution has been embroiled in a row with Boohoo after a “hostile” attempt from the firm to place its own candidates on its board earlier this week. Revolution [...]
Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]