A study has claimed that Sainsbury’s is now more expensive than Waitrose for a big shop. The study compared the prices of a trolley of 131 items at Asda, Morrisons, Ocado, Sainsbury’s, Tesco, and Waitrose. It found that in September, Sainsbury’s was almost £4 more expensive than Waitrose. This is the first time Sainsbury’s has …
Marks & Spencer is set to make a triumphant return to the FTSE 100 after four years of absence, showcasing its remarkable turnaround in the retail industry. Joining the blue-chip index alongside Diploma, Hikma Pharmaceuticals, and Dechra Pharmaceuticals, Marks & Spencer’s return has been officially confirmed by FTSE Russell, the index compiler. Effective September 18, …
The majority of Wilko stores are set to close after the business’s attempts to find a buyer failed, according to administrators PwC. On Wednesday evening, unions were informed by PwC that store closures and job losses were imminent, as efforts to secure a buyer for the collapsed business proved unsuccessful. GMB, which represents over 4,000 …
Marks & Spencer (M&S) is currently contemplating the possibility of completely abandoning its site, expressing concerns that this decision could discourage other retailers from pursuing new developments. This development was confirmed in a conversation with The Telegraph by Peter Jelkeby, UK and Ireland CEO of Ikea. Jelkeby emphasized Ikea’s commitment to a significant investment at …
The Hong Kong-based tycoon, who was formerly married to Hollywood actress Michelle Yeoh from 1988 to 1991, significantly grew the business through franchising and licensing deals before taking it public in 1986. In addition to his achievements in the business world, Sir Dickson also co-founded a film production company. In 1984, the company signed Ms. …
Jamie and Jools Oliver rewarded themselves with a dividend of nearly £7m in the previous year, thanks to the international expansion of Jamie’s restaurant franchise. This financial success marks a significant turnaround for Mr. Oliver, who plans to open a new UK site, the first since the bankruptcy of his Jamie’s Italian chain in 2019. …
In a move that highlighted the challenges faced by high-end handbag retailer Mulberry, the closure of its prestigious New Bond Street store in February was attributed to a decline in trade from international visitors and skyrocketing expenses, rendering it economically unsustainable, said CEO Thierry Andretta. Prior to the elimination of VAT-free shopping, around 50% of …
Founded in 1930 by James Kemsey Wilkinson and his fiancée, Wilko (formerly known as Wilkinson) has faced numerous challenges in recent years. The business experienced difficulties during and after the pandemic, which resulted in disruptions to their supply chain and a decline in customer footfall. Furthermore, increased competition from rivals such as Home Bargains, Poundland, …
A recent study conducted by Which? revealed that plant-based sausages are consistently priced twice as high as animal meat counterparts. Ethan Brown, the President and CEO of Beyond Meat, faced scrutiny from investors regarding these findings. Brown acknowledged that the plant-based category is struggling to attract new consumers, stating, “The overall market share is not …
According to an expert, there is a need for a 0.25 percentage point hike in August to address the risk of high services inflation and wages. The expert, Mr. Wadhwani, also warns that the Bank’s complacency has made it harder to control inflation. The survey by Lloyds Bank reveals that while business inflation expectations are …