After several weeks of attempting to find potential buyers for the business, Wilko is making significant strides toward its future. Rumors circulated last month that numerous large general merchandise chains were being considered for a deal with Wilko. The retailer, established in 1930 by JK Wilkinson and currently operating around 400 stores, has remained under …
Unilever, the renowned food giant known for brands like Marmite and Hellmann’s mayonnaise, has implemented a price increase of nearly 10% amidst an ongoing investigation by Britain’s competition regulator regarding potential overcharging on groceries. Despite a slight decline in sales volumes, the FTSE 100 company experienced a significant surge in profits, with underlying price growth …
Unraveling the Mystery: Jaffa Cakes The eternal question of whether Jaffa Cakes are biscuits or cakes holds more significance than one might think. Luxury chocolate-covered biscuits are subject to VAT charges, while cakes enjoy a zero-rated status. McVities, in a legal battle with HMRC, successfully argued that Jaffa Cakes are indeed cakes and should be …
Skims, the underwear label founded by Kim Kardashian, has achieved a valuation of $4 billion (£3.1 billion) after securing $270 million in investment. Launched by Kardashian in September 2019, Skims experienced significant growth thanks to a funding round led by Wellington Management Group and featuring Greenoaks Capital Partners, notable investors in Deliveroo and the grocery …
Haribo has issued a warning that interference by ministers is affecting the UK’s consumption of sweets and chocolates, as supermarkets are required to conceal them. In its financial documents, the company revealed a record sales figure of £218m last year, an increase of £32m from 2021. However, the managing director, Jon Hughes, cautioned that shoppers …
Unlocking the Benefits of Amazon Prime Amazon Prime is a comprehensive subscription service that offers a wide range of perks. In addition to free and expedited shipping, members can enjoy access to Prime Video and Prime Music. Furthermore, they can take advantage of discounts when shopping at Amazon Fresh stores. Prospective customers can avail of …
A recent report has warned that shoppers who rush to take advantage of the January sales may end up purchasing products that were actually cheaper six months ago. According to analysis conducted by PriceSpy, a website known for tracking prices across more than 6,000 online retailers, 46% of products were found to be more expensive …
Consumers who rely on credit cards for shopping are now facing exceptionally high interest rates. Moneyfacts, an analyst firm, reports that the average credit card interest rate has surged to 30.4%, up from 26.2% compared to last year. This figure is the highest recorded since Moneyfacts began collecting data in June 2006. The rise in …
According to David Bharier, the head of research, the current path of sluggish growth is unlikely to change unless significant alterations occur in the external environment. Recently released official figures revealed that a recession in the eurozone was triggered by a decrease in consumer spending at the start of the year. Surprisingly, the economy of …
Temu initially targeted local merchants seeking to offload excess inventory by promising access to a new market of wealthier consumers. However, the company has shifted its focus towards factory manufacturers and created competition among them. Every Monday, they hold a “reverse auction” where manufacturers compete to offer the lowest price for staple goods. Suppliers are …