Author: Scott Dylan

Asda’s recent performance decline has resulted in a notable drop in its market share, now standing at 12.6%.This 6% decrease in sales has raised concerns, particularly from Chairman Lord Rose, who has expressed disappointment and urged a reassessment of the supermarket’s leadership and strategies.Decline in Market ShareAccording to recent data from Kantar, Asda’s sales fell by 6% in the 12 weeks leading up to 4 August, reducing its market share from 13.7% to 12.6%. This downturn occurs at a challenging time for the private equity-backed supermarket group, which has been losing ground to its major competitors, including Tesco, Sainsbury’s, and…

UK inflation experienced an unexpected uptick to 2.2% in July, primarily driven by a less significant decline in energy prices compared to the previous year.City analysts had initially anticipated a rise to 2.3%, while the Bank of England had forecasted an increase to 2.4%. However, the actual rise was lower, revealing a variance between projections and reality that has notable implications for economic policy. According to the Office for National Statistics (ONS), service inflation, a crucial indicator for the Bank, fell sharply to 5.2% from 5.7%, significantly below the expected 5.6%. Core inflation saw a marginal decrease, slipping from 3.5%…

Mars, the global confectionery giant, has strategically acquired Kellanova, the makers of Pringles, for $29bn (£22bn), marking this year’s largest transaction in the food sector.Mars’ acquisition of Kellanova signifies a significant expansion for the confectionery leader, integrating popular snack brands such as Pop-Tarts and Special K into its portfolio.The agreement is Mars’ most substantial purchase since its acquisition of Wrigley in 2008, further solidifying its position in the global market.The announcement of this acquisition led to an 18% surge in Kellanova’s shares, indicating high investor confidence in the merger’s potential.Analysts predict that this acquisition could trigger a new wave of…

John Lewis Partnership announces a strategic restructuring affecting 153 roles.This restructure aims to enhance customer service by incorporating innovative technologies.A ‘Selfridges-style’ approach will improve staff interactions on busy shop floors.The transition includes voluntary redundancies with support for affected partners.Investment focuses on simplifying processes to meet modern customer demands.The John Lewis Partnership is undertaking a strategic restructuring initiative that will see 153 roles affected, accounting for approximately 1% of its workforce, or ‘partners’. This decision is aimed at improving the quality of customer service across its retail stores. The roles will be reduced through natural attrition and voluntary redundancies, with comprehensive…

The UK’s unemployment rate fell to 4.2% in July, defying economists’ predictions of a rise to 4.5%. This positive change suggests a potential shift in the economic landscape.Despite the drop in unemployment, wage growth has slowed to its lowest rate in two years, as reported by ONS data.The latest data for July reveals an unexpected drop in the UK’s unemployment rate to 4.2%. Economists had forecast an increase to 4.5%, up from the previous month’s 4.4%. This decline is largely seen as a positive economic indicator, often leading to increased pressure on wages.When adjusted for inflation, wages rose by 3.2%…

The Advertising Standards Authority (ASA) has prohibited advertisements by two companies, Huel and Zoe, for failing to disclose the financial interests of Steven Bartlett, a well-known entrepreneur.Steven Bartlett, a prominent figure known for his role on BBC’s Dragons’ Den and as the host of the popular podcast The Diary Of A CEO, featured in adverts endorsing both Huel and Zoe. However, the ASA determined that these ads were misleading, as they did not inform consumers of Bartlett’s financial interests—he is an investor in Zoe and a director at Huel. This omission was deemed significant enough to influence consumer decisions, thus…

Ben Sherman has marked its return to the UK high street with new flagship stores.The brand has opened a 1,300 sq ft store in Brighton, where it was originally founded.A second store is set to open on Berwick Street in Soho, London later this month.This marks a return to full-price store operations after the closure of key locations in 2020.Tim Reid of Marquee Brands highlights the brand’s positive expansion and upcoming collections.Ben Sherman, a renowned British heritage menswear brand, has reaffirmed its presence on the UK high street with the launch of two flagship stores. These strategic openings mark a…

Danish fashion brand Ganni has closed its UK head office, impacting up to 50 roles.Ganni’s last day at the London office was on 26 July, with 10 out of 19 staff members continuing in various capacities.The office closure is part of a strategy to consolidate Ganni’s European offices, focusing on Paris as a global platform.Despite the closure, Ganni will maintain a presence in the UK through its stores and various stockists.Ganni’s strategic move aligns with leadership changes, including the appointment of a new CEO based in Paris.The Danish fashion brand Ganni has strategically decided to close its UK head office,…

Ministers are set to introduce measures that cap the profits landowners can earn from the sale of green belt land, a pivotal part of the government’s strategy to deliver 1.5 million new homes by 2030.The proposed reforms will empower councils to compulsorily purchase green belt land at a reduced “benchmark” value, limiting the ability for landowners to profit from areas previously ineligible for development. As Labour confronts the UK’s housing crisis, experts indicate that meeting this ambitious target will necessitate development on both “grey belt” and greenfield sites. The green belt, spanning over 6,300 square miles and covering around 13…

The ownership landscape of BT, one of the UK’s largest telecoms companies, is undergoing a major change. Bharti Global has acquired a 24.5% stake from Patrick Drahi’s Altice UK, making it BT’s largest shareholder. Bharti Global has clarified it has no intention of pursuing a full takeover.The acquisition, which led to a 6.5% rise in BT shares to 139p, will be executed in two phases. Initially, Bharti Global will acquire a 9.99% stake “imminently”. The remaining 14.51% is contingent upon regulatory approval, including clearance under the UK’s National Security and Investment Act.Patrick Drahi, the French billionaire who initially invested in…