‘Scramble for staff’: Restaurants hike pay by double-digits in attempt to woo staff to stay April 19, 2022 Pubs and restaurants have hiked workers’ pay by an average of 11 per cent in recent months. A staffing blight continues to plague the hospitality sector, according to data from the latest CGA and Fourth’s Business Leaders’ Survey. Almost four in five businesses told the survey that they had increased wages in a bid to [...]
Hasbro warns of price hikes on the horizon as demand for Dungeons & Dragons soars April 19, 2022 Toy maker Hasbro has warned it will have to hike prices even more to offset other rising costs. The Action Man maker said it was anticipating a potential revenue hit of some $100m this year after it suspended toy shipments to Russia. Hasbro said it would hike prices mid-year and was trying to mitigate supply [...]
Retail footfall lifted by shoppers stocking up for long Easter weekend April 19, 2022 Shops saw a footfall injection in the run up to Easter as Brits flocked to high streets to make the most of the good weather. Footfall during Monday to Thursday last week was up by an average of 15 per cent, with a 21.9 per cent rise on Thursday. Footfall across all retail destinations rose [...]
Egg farmers threaten to stop production in price row with supermarkets April 19, 2022 Egg farmers have warned they could be forced to stop production after claiming the country’s biggest supermarkets are “suffocating businesses.” Farmers have previously called on supermarkets to raise the price of eggs as producers struggle with significant feed and energy cost increases. Now, the British Free Range Egg Producers Association (BFREPA) has said farmers may [...]
Prada: Strong US sales offset impact of Covid lockdown in China April 19, 2022 Designer handbag maker Prada performed above expectations in the first quarter of the year, as US sales offset trade suspensions in Russia. CEO Patrizio Berteilli also said strong results in the US in the first four months of the year helped to offset the impact of Covid lockdowns in China. Speaking to Italian newspaper Corriere [...]
Hungry for success: Cake Box rebounds from pandemic with record sales after online orders leap April 19, 2022 Cake Box has reported record sales for the past year after recovering from the side effects of the Covid pandemic. The north-London based firm said its sales leapt some 50 per cent for the year to March, with particularly strong sales in the previous six months. Momentum had been driven by online delivery and click [...]
Travelex recruits BrickVest boss Richard Wazacz as new CEO April 19, 2022 Foreign exchange firm Travelex has appointed Richard Wazacz as new CEO, who pledged to further modernise the business. The London-based firm said Wazacz would step into the role on 4 July 2022, joining from online property marketplace Brickvest. After a two year stint as CEO of Bickvest, Wazacz will be succeeding Donald Muir, who has [...]
WH Smith: Orders from Funky Pigeon website suspended after cyber attack hits cards firm April 19, 2022 WH Smith has said Funky Pigeon, its greetings card subsidiary, fell victim to a cyber security incident last week. In an update on the London Stock Exchange, the stationary giant said orders from the Funky Pigeon website have been temporarily suspended. The online retailer was affected by an incident on Thursday 14 April. Customer payment [...]
Asda buyer TDR Capital marks 20-fold return on supermarket takeover with £1.4bn stake April 19, 2022 One of Asda’s owners has valued its stake in the supermarket at almost 20 times the sum it paid in a blockbuster takeover last year. According to The Financial Times, private equity firm TDR Capital informed investors it has placed its stake at 19.8 times the orginial investment in the grocer. The US firm, alongside [...]
Made.com boss: Shoppers holding back on homeware purchases amid pressure on budgets April 19, 2022 The boss of online furniture retailer Made has said shoppers have “held back” with purchases lately amid dramatic increases in the cost of living. Speaking to the PA news agency, chair Susanne Given said customers were more hesitant than usual due to rising inflation and war in Ukraine. She added: “The customer has definitely held [...]
