Home Retail Media Bites 21 Nov: Iceland, Lottery, UK Retail sales | News

Media Bites 21 Nov: Iceland, Lottery, UK Retail sales | News

by Ozva Admin

The Icelandic founder reaffirmed his intention to retain control of the frozen food retailer after turning down takeover interest from several suitors since the start of the pandemic (times £). The Iceland Foods founder has vowed to maintain control as hedge funds surround the supermarket by buying his debt at a deep discount (The Telegraph).

Allwyn, the Czech Republic-based company that will take over the UK National Lottery, has agreed to buy current operator Camelot in a deal that will ease the delivery of the lottery license and end legal disputes over the lottery process. acquisition (Financial time £). The next operator of the National Lottery has snapped up rival Camelot UK, in a move that is expected to end a bitter legal dispute (The Daily Mail).

UK retail sales grew more than expected in October, rebounding after an additional bank holiday in September that kept stores closed, but were below pre-pandemic levels, reflecting the impact of rising prices (Financial time £).Retail sales rose more than expected last month, after a sharp fall in September due to the Queen’s funeral, but higher prices pushed food sales lower (times £). Retail sales picked up again in October, according to official figures released a day after crucial forecasts warned the biggest drop in household disposable income on record was ahead (sky news).

Retail sales in Britain plunged in the three months to October as pressure from 41-year high inflation and rising energy prices forced households to cut budgets and control spending (The Guardian). Retailers have suffered the biggest drop in quarterly sales since lockdown early last year as shoppers rein in spending (The Daily Mail).

Troubled discount chain Wilko is in talks for an emergency loan as crippling cost pressures hit high street retailers in the run-up to Christmas. (times £)

Brick-and-mortar retailers such as the Selfridges flagship store in London will pay significantly lower retail fees, while operators of department stores and logistics facilities will see their bills rise, following a revaluation of retail properties announced alongside the Autumn Statement. by Chancellor Jeremy Hunt on Thursday (Financial time £). Harrods and Selfridges are among the biggest winners in the government’s trade tariff shakeup (The Daily Mail).

Parsley Box, the Edinburgh-based provider of ready meals for baby boomers, is proposing to delist less than two years after its debut after its share price fell sharply. (times £)

UK restaurants are going out of business at a faster rate than during the Covid crisis due to a “toxic mix” of rising energy costs, staff shortages and falling bookings. (The Guardian)

Retail footfall is expected to increase 12.8% on November 25 this year, also known as Black Friday, according to experts (sky news). Black Friday may lose its shine as football and inflation hit online sales: For years, discounts have been mostly done online, but the days of crazed clicking might be over (The Guardian).

Burger chain Wendy’s is hoping to get lucky a second time as it prepares to go nationwide in the UK with its famous square burgers, two decades after scrapping its first assault on the UK market. (times £)

Passions around pies seem to be heating up once again in Cornwall, after Greggs announced it would open a bakery in the home of the delicacy in a few weeks. (The Telegraph)

US retailers are facing their first revenue drop in real terms since the global financial crisis this holiday season, even as resilient consumer spending poses challenges for officials seeking to rein in inflation. (Financial time £)

Tate & Lyle may be a sweet oldie, but their new approach is modern and makes it a must-see. The Telegraph’s Questor stock columns say its focus on new products and a boost in productivity suggest profitability is about to improve. (The Telegraph)

Times are bleak for both the chicken and the egg: the avian flu outbreak isn’t the only culprit behind the current egg shortage. “The industry has been struggling with skyrocketing energy and feed costs for months, and rising costs for inputs, including labor and packaging.” (Financial time £)

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