John Lewis has issued a stark warning on the potential fallout from a no-deal Brexit as the retail group fell into its first ever half year loss (The Financial Times £). The John Lewis Partnership - a British high street stalwart - warned today that it would be impossible to fully mitigate the ‘significant’ impact of a no-deal Brexit (The Daily Mail). John Lewis said if the UK were to leave the EU without a deal, the effect would be “significant”, and it would “not be possible to mitigate that impact” (Sky News)
The employee-owned partnership behind John Lewis and Waitrose has suffered a half-year loss for the first time in nearly 50 years as it struggles with a fast-changing retail landscape (The Times £). The owner of John Lewis and Waitrose slumped to its first half-year loss and admitted that its upmarket grocery chain had pulled out of a deal meant to boost online sales (The Telegraph). John Lewis has warned of worsening conditions on the high street as the department store and supermarket group slumped to its first-ever half-year loss (The Guardian).
John Lewis Brexit warning resonates more than Yellowhammer, writes The FT saying that the comments of its chairman offers clues about economic impact on middle-class customers. “He was evidently talking about a significant economic impact on his middle-class customers — even if many did not feel it, or believe it, yet.” (The Financial Times £)
John Lewis is short on ideas - but not excuses, writes Ben Marlow in The Telegraph. “[Sir Charlie] Mayfield has proven himself to be a skilled retailer during more than a decade at the helm but lately he has fallen into the trap of blaming outside factors. Last year, it was Brexit. This year, it is also Brexit, as well as the “re-drawing of the retail landscape”. Neither of these are new phenomena.” (The Telegraph)
Ocado split gets messier as Waitrose dumps Jonathan Faiman’s TDP, writes The Times. New twist as the supermarket dumps one of the online group’s feuding founders. (The Times £)
Morrisons is to extend its online partnership with Amazon as it reported disappointing sales compared with those in last year’s hot summer (The Times £). Morrisons is taking full advantage of its tie-up with Amazon to expand its swift grocery delivery service across the country (The Telegraph). Morrisons has expanded its partnership with Amazon for ultra-fast same-day grocery deliveries to more cities across the UK, as it reported a drop in quarterly sales (The Guardian). Morrisons has signed up to a new multi-year agreement with online giant Amazon as the supermarket attempts to keep pushing further into the wholesale market (The Daily Mail).
Morrisons increased its earnings in the most recent six-month period even as a key underlying sales growth figure nearly stalled amid waning consumer confidence and unfavourable summer weather (The Financial Times £).
A no-deal Brexit would leave “gaps on the shelves” of UK supermarkets, according to the chief executive of the Co-op Group. Steve Murrells said the chain is stockpiling produce from the southern hemisphere to reduce post-Brexit shortages. (Sky News)
Some of the country’s biggest grocers are ramping up their preparations to deal with a disorderly Brexit by drawing up plans to import fruit and vegetables by plane if Britain’s ports and roads grind to a standstill. (The Telegraph)
Fresh fruit, vegetables and wine are among the products likely to become scarcer and more expensive after a no-deal Brexit, according to a flurry of warnings issued by retailers and the drinks industry (The Guardian).
French champagne makers stockpiling in UK to avoid ‘Christmas crisis’ after Brexit. It is claimed there is enough champagne stockpiled in the UK to meet demand for at least a year and avoid a Christmas shortage. (Sky News)
Ministers have refused to disclose details about their discussions with local authorities and the food industry over possible disruptions to food supplies in a no-deal Brexit, arguing the information could damage negotiations with the EU. (The Guardian)
The e-cigarette was supposed to be the future of tobacco – an innovation marketed as “reduced risk” that could offer a growth story to an industry whose core product is both deadly to its customers and in long-term decline (The Financial Times £).
US President Donald Trump’s unexpected plans for a crackdown on vaping could be an opportunity for the real tobacco once favoured by real men to retake share. It would particularly hurt vaping market leader Juul. Yet it might also disrupt Big Tobacco’s reinvention attempts. (The Financial Times £)
British American Tobacco is to axe 2,300 jobs, including a fifth of senior roles, as the cigarette maker restructures its business amid waves of industry change (The Financial Times £). About 2,300 jobs at British American Tobacco will be cut as its new chief executive focuses on its vaping business (The Times £, The Telegraph, The Daily Mail, The BBC).
Sainsbury’s could sell milk and fizzy drinks in returnable glass bottles as part of a drive to halve the amount of plastic packaging it uses over the next six years (The Guardian). Britain’s second-biggest supermarket chain Sainsbury’s has promised to halve the plastic packaging in its stores by 2025, making what it called an “ambitious” commitment to address an issue growing in importance to consumers (The Financial Times £). Sainsbury’s has become the latest supermarket to target packaging waste, pledging to halve the amount of plastic used in its stores by 2025 (The BBC).
A surge in shop closures and the growth of automated retail are forcing tens of thousands of women out of work, according to a study of the economic pain caused by high street decline. (The Guardian)
The world’s biggest brewer has revived plans to float its Asia Pacific subsidiary on the Hong Kong Stock Exchange only two months after scrapping the proposed listing. (The Times £)
Nestlé will cut greenhouse gas emissions across its operations and supply chain to net zero by 2050, setting in train what are likely to be sweeping changes among the coffee growers, dairy farmers and packaging companies that supply the world’s biggest food company. (The Financial Times £)
From shopping at night to steering clear of plastic – The Daily Mail looks at five trends that are shaping how, what, why, when and where we shop. (The Daily Mail)