L’Oreal boss: Shoppers continue to buy beauty products despite inflation May 24, 2022 The boss of cosmetics giant L’Oreal has said it has not experienced shoppers holding back on purchasing beauty products due to rising inflation. So far, the firm had seen “no impact of inflation and price impacts on consumers’ beauty consumption,” L’Oreal CEO Nicolas Hieronimus said. His comments were made to the Reuters news agency at [...]
Ralph Lauren boosts sales forecast as wealthy shoppers undeterred by price rises May 24, 2022 Luxury fashion brand Ralph Lauren upped its sales forecast for the year after resilient demand for designer clothes and accessories. The New-York based retailer said it was anticipating improved margins after robust demand from its largest markets in North America and Europe. Its core customer base of higher-income shoppers has been unaffected by the rising [...]
Watch: Russians forced to rethink summer travel plans as sanctions and anti-Russian sentiment bite May 24, 2022 Russians are rethinking their summer travel plans abroad amid rising prices and fears of growing anti-Russian sentiment. Watch the full report.
Canada’s annual Beerfest returns in aid of five good causes May 24, 2022 The City’s annual Beerfest returns to historic Guildhall yard, with visitors able to sample 30 different ales in support of five good causes . British beer-makers will be on show at the 7 July event alongside low alcohol and vegan products, as-well-as having food and live music on offer. The eighth event held by the [...]
Square Mile to celebrate Queen’s platinum jubilee with Commonwealth Games baton relay May 24, 2022 The Square Mile will celebrate the Queen’s platinum jubilee this weekend with a baton relay ahead of the Commonwealth Games. Her Majesty will be honoured during an afternoon of sport-themed activities hosted at Paternoster Square, next to St Paul’s Cathedral, on 4 June. The event, beginning at midday, marks the closing stages of the baton’s [...]
Watch as Queen Elizabeth attends Chelsea Flower Show May 24, 2022 Queen Elizabeth attended the Chelsea Flower Show, the latest of several appearances that have helped to ease public concerns about her health ahead of a national celebration of her seven decades on the throne. Watch the full report.
Wagamama owner warns of ‘volatile market’ as food and drink inflation surpasses expectations May 24, 2022 The owner of Wagamama has warned food and drink inflation is anticipated to be as high as 10 per cent this year, higher than earlier estimations. In a trading update ahead of its AGM, The Restaurant Group (TRG) said its cost pressures had been exacerbated by the war in Ukraine. Food and drink inflation was [...]
Boohoo agrees final settlement for US class action without admitting liability for ‘deceptive’ clothing promotions May 24, 2022 Fast fashion giant Boohoo revealed this morning that it had reached a final settlement without admitting liability in relation to a Californian lawsuit.
Cost of living crunch: Grocery price inflation hits highest level in 13 years as households struggle to pay bills May 24, 2022 Grocery price inflation has now hit the highest level since May 2009, with almost a quarter of households saying they are struggling to make ends meet. Supermarket prices have risen seven per cent over the past four weeks, according to the latest grocery sales data published by Kantar this morning. Products to see the sharpest [...]
Cranswick cooks revenue above £2bn for first time as the food firm weathers supply and labour storm May 24, 2022 UK food producer Cranswick cooked up a revenue above £2bn for the first time, with adjusted group operating margin maintained at seven per cent.
