Author: Dave Antrobus

The olive oil market is set for change as Spain’s drought ends, impacting prices and supply.A significant drop in olive oil production occurred due to Spain’s prolonged drought, which is now abating.Improved weather conditions suggest a promising harvest in Spain, potentially lowering olive oil prices.The recent drought significantly increased production costs within the olive oil industry.Other agricultural sectors, like orange juice production, also face challenges, highlighting broader supply chain issues.The olive oil industry anticipates a shift as Spain’s two-year drought concludes, potentially stabilising prices. The adverse weather previously led to a substantial 60% reduction in Spain’s olive oil production, which…

Filippo Grazioli resigns from his role at Missoni, aiming for new creative challenges.Grazioli departs following a significant tenure overseeing Missoni’s collections since 2022.Alberto Caliri takes over, having a long history with Missoni starting in 1998.Grazioli’s last participation was during Milan Fashion Week.Missoni CEO highlights Caliri’s expertise in envisioning fashion.Filippo Grazioli has officially stepped down as the creative director of Italian luxury fashion house Missoni. He is departing the role with aspirations to pursue new creative and artistic challenges, leaving a notable imprint during his tenure since joining in 2022.Throughout his time at Missoni, Grazioli was instrumental in overseeing both women’s…

Retailer New Look advances its sustainability strategy announced in 2022.New Look’s emission targets receive Science Based Targets Initiative (SBTI) approval.The company has achieved a 22% reduction in Scope 1 and 2 emissions since 2022.Traceable and recycled cotton are central to New Look’s future plans.Significant partnerships focus on fair wages and community support initiatives.New Look has made significant strides in its sustainability strategy, as highlighted by the Science Based Targets Initiative (SBTI) approval. This approval underlines New Look’s commitment to align with the 1.5°C pathway, which aims to limit global temperature rises to 1.5°C above pre-industrial levels by 2050. Since the…

KP Snacks has seen a substantial rise in profits for 2023, reaching close to £100 million.The company navigated a significant cyber attack in 2022 with effective management strategies.Revenue surged to £626.7 million, demonstrating strong market performance.Key measures, including cost savings and strategic pricing, helped mitigate inflationary pressures.Sustainability efforts were enhanced, cutting over 100 tonnes of plastic packaging.In the financial year of 2023, KP Snacks reported a notable rise in pre-tax profit, reaching £93.7 million from the previous £64.3 million in 2022. This substantial increase highlights the company’s resilience in the face of significant challenges.The company experienced a cyber attack in…

Waitrose initiates an innovative cork recycling scheme.The trial is set to begin on 7 October across seven Waitrose stores.Participating stores include Salisbury, Saltash, and Maidenhead, among others.Used corks will be collected and repurposed by Amorim, the world’s largest cork processor.The trial aims to assess customer engagement and determine wider rollout possibilities.Waitrose has introduced a pioneering cork recycling scheme, aiming to reduce waste and enhance its environmental sustainability. Starting from 7 October, the trial will be launched in seven Waitrose stores throughout the United Kingdom, commencing with the Salisbury location. Other stores participating in this initiative are located in Saltash, Lymington,…

The UK retail sector remains cautious amidst falling inflation, with eyes on the forthcoming budget.Sainsbury’s CEO Simon Roberts urges clarity in tax and spending plans to restore consumer confidence.Despite a positive economic outlook, consumers remain unwilling to increase discretionary spending.Interest rate reductions are deemed necessary to impact household expenditures favourably.Sainsbury’s anticipates a strong Christmas period amid ongoing strategic preparations.The UK retail market, despite experiencing a decrease in inflation and maintaining robust employment levels, continues to face challenges in consumer spending. Sainsbury’s CEO, Simon Roberts, highlights the ongoing caution exhibited by shoppers, reflecting a need for greater economic certainty.Roberts suggests that…

Tesco has revised its profit expectations upwards following a robust financial half-year.Sales have increased by 4%, with particular strength in fresh food and premium ranges.The retailer has gained market share, reaching its highest level since January 2022.Net switching gains have been consistent, with 19 consecutive periods of positive growth.Operational improvements and new products have further supported Tesco’s performance.Tesco, one of the leading supermarket chains, has announced an upward revision in its profit expectations for the fiscal year, following a 10% jump in half-year profits. Sales increased by 4% to £31.5 billion, with notable growth in fresh food and Tesco’s Finest…

Marks & Spencer plans to recruit over 11,000 customer assistants in UK stores for the festive season, exceeding last year’s numbers by 1,000.The recruitment process kicks off on 9 October, with new hires starting in mid-November, offering varied roles and flexible working arrangements.New employees will support M&S’s Christmas food to order service, which began on 24 September, enhancing customer service during peak trading.Sacha Berendji, M&S operations director, highlights the vital role of store colleagues in creating a memorable Christmas experience for customers.Many employees commence their careers during this peak period, with opportunities for advancement in M&S’s ‘stepping into team manager’…

Tesco has reported a significant growth in group sales, driven by its non-food division.During the 26-week period ending 24 August, Tesco achieved a 3.5% rise in group sales, reaching £31.4bn.A robust performance in clothing sales was a key factor in the growth of Tesco’s non-food division sales.Excluding impacts from a new toy partnership, clothing and home sales rose by 1.6%.For the full year, Tesco anticipates a retail adjusted operating profit of approximately £2.9bn.Tesco has reported a 3.5% increase in group sales, amounting to £31.4bn for the 26 weeks leading up to 24 August. This upsurge is largely attributed to a…

Régis Schultz, CEO of JD Sports, anticipates a rebound in UK revenues amid challenging market conditions.UK revenues for JD Sports saw a 4.6% decline in the first half of the year.Despite a volatile market, Schultz sees potential growth with colder weather boosting demand for specific items.The arrival of a new Nike CEO brings optimism, despite Nike’s current revenue challenges.JD Sports’ adaptable multi-brand model positions it strongly, with key products like Nike’s Air Force One and retro running shoes.JD Sports Fashion reported a 4.6% decline in UK revenues for the 26 weeks ending August 3. The decrease is attributed to a…