Britain’s farming union has accused the chair of Tesco of living in a “parallel universe” after he said food companies may be using inflation as an excuse to increase prices further than necessary (The Guardian).
An editorial in The Mail argues that “farmers are taking the hit (despite what the supermarket bosses might suggest)”.
The Telegraph thunders that Tesco is in no position to lecture farmers about prices. “The big supermarkets can hardly claim to be good samaritans – just look at their profits.”
Read The Grocer’s story about how the Tesco chairman is facing a backlash after accusing suppliers of cost of living ‘profiteering’.
The Grocer also examines whether there is any truth to John Allan’s inflammatory inflation claims in yesterday’s Daily Bread blog, here.
Sosandar has struck a deal to sell a collection of its ‘sexy and chic’ clothing in Sainsbury’s (The Mail).
Chapel Down hailed a ‘spectacular’ Christmas as the English wine industry goes from strength to strength (The Mail).
Britain’s biggest maker of sparkling wine is hoping that its sales will get a royal boost thanks to the launch of a limited-edition bottle of fizz to mark the coronation of King Charles. Chapel Down Group, based in Kent, plans to launch a premium blend of older wines sold directly to consumers via its e-commerce operation (The Times £).
The market report in The Times (£) focuses on a note from Numis about THG that says the need for change at the embattled group is “apparent”.
UK pub chain Fuller, Smith & Turner has warned on profits, blaming “frustrating” train strikes for reducing festive sales in its city-centre venues (The Financial Times £).
Fuller, Smith & Turner said the industrial action led to a 5% fall in sales in the four-week Christmas and new year period compared with the festive season in 2019 (The Times £).
The pub chain, which has a large presence in London and the south east, claimed it had taken a £4m hit to sales as a result of industrial action since October (The Mail).
As a consequence, the group said profits would now come in below market expectations when it reports results for the year to April in the summer (The Guardian).
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