Taking the Mickey: Disney to slash 7,000 jobs in bid to save £4.5bn as part of ‘significant transformation’ February 9, 2023 The Walt Disney Co has said it will cut about 7,000 jobs as part of a “significant transformation” announced by CEO Bob Iger. The job cuts amount to about three per cent of the entertainment giant’s global workforce and were announced after Disney reported quarterly results that topped Wall Street’s forecasts. Mr Iger returned as [...]
Ben & Jerry’s owner Unilever: Turnover soars to £53bn driven by price increases against backdrop of inflation February 9, 2023 Unilever price hikes helped the firm deliver turnover of more than £50bn last year, as the group had a nine per cent increase underlying sales growth for 2022. The British firm – which owns brands such as Ben & Jerry’s, Dove, Hellman’s and Magnum – said that turnover also increased 14.5 per cent to €60.1bn [...]
Pub firm Fuller’s sues insurance giants Aviva and Liberty Mutual in fight over ‘business interruption’ claim February 9, 2023 Fuller’s pubs has filed a lawsuit against insurance giants Aviva and Liberty Mutual in a dispute over a “business interruption” claim. Fuller Smith & Turner confirmed to City PM it is suing the two insurers “in relation to a claim under our business interruption insurance” but refused to comment further. Fuller’s filed its claim against Liberty [...]
Just Stop Oil eco-activists fined £500 for gluing themselves to da Vinci’s Last Supper – and say artist would ‘AGREE’ with them February 8, 2023 Environmental protesters fined for gluing themselves to the frame of a copy of Leonardo da Vinci’s The Last Supper have said they believed the artist would have supported their actions. Five Just Stop Oil (JSO) activists were ordered to pay £486 each for criminal damage at Canada Magistrates’ Court, over a demonstration at [...]
Bid for self-preservation: eBay to slash 500 jobs as e-commerce giant eyes shift to new technologies February 8, 2023 eBay is joining the ranks of other tech companies laying off staff in a self-preservation effort during a challenging economic environment. The e-commerce giant announced it is cutting 500 jobs – about four per cent of its workforce – so that they can “continue to be successful”, in a memo written to employees on Tuesday [...]
High Street retail race: Marks and Spencer predicted to overtake John Lewis by 2026 February 8, 2023 Marks & Spencer will overtake John Lewis in the rankings of the UK’s biggest retailers by 2026, according to a new sales forecast. Tesco will retain its position as the largest retailer, followed by Sainsbury’s, but Amazon is on track to move into the top three within the next few years, industry title Retail Week [...]
Lidl boasts £10m sales growth after winning shoppers from M&S, Waitrose and Sainsbury’s February 7, 2023 The value retailer praised its fruit and veg range for the year on year increase – with its market share for vegetable shopping reaching a high of 10.2 per cent.
Tesco versus Lidl: Two of UK’s largest supermarkets go to court over use of yellow logo February 7, 2023 Supermarkets Tesco and Lidl have begun a High Court fight over the use of a yellow circle logo. German discount chain Lidl says a trademark, and copyright, has been infringed, while Tesco has made a counterclaim. Lidl uses a yellow circle in its main logo, and Tesco uses one to highlight offers available to members [...]
Iceland shrugs off loss of credit insurance cover saying it is ‘incredibly well positioned’ and expects to reinstate the policy soon February 7, 2023 According to reports first published in The Sunday Times, the French insurer slashed cover for the discount grocer in December - following a similar move by Allianz and Atradidus.
Retail experts warn of ‘challenging’ months ahead as sales growth slows February 7, 2023 Senior retail figures have warned that the coming months will be “challenging” for the sector, after sales slowed over January, falling below the three-month average growth of 5.2 per cent to 4.2 per cent Helen Dickinson OBE, chief executive at British Retail Consortium (BRC), said consumer confidence remains “stubbornly low” and looming rises in household [...]
