Nestlé has said price rises will start to ease in the second half of the year, as the KitKat maker raised its sales outlook on better than expected performance in the six months to the end of June (The Financial Times £).
The technology expert behind Ocado Group’s solution business is leaving the online grocer days after it won a £200m payout following a long legal battle over robot patents (The Times £).
Executive director and CEO of Ocado Solutions, which accounts for around 14% of group revenues this year, Luke Jensen will retire in September after five years on the board (The Mail).
Top supermarkets and seafood businesses are in talks to launch a pilot scheme in North East Scotland to ensure fair employment conditions for migrant crew on UK fishing vessels, according to those close to the discussions (The Financial Times £).
Shares in the Swedish oat milk producer Oatly tumbled by almost a quarter after it slashed its annual guidance and overhauled its strategy in Asia amid falling sales (The Times £).
Read the full story on the results here in The Grocer.
Profits at McDonald’s rose quicker than expected on Wall Street in the last quarter as the fast food chain increased prices and attracted more customers (The Times £).
Britain has lost 6,000 storefronts in five years, new figures show, with financial pressures forcing shop owners to close their stores and leave cities with undesirable “gap-toothed high streets” (The Guardian).
The BRC said the impact of the Covid lockdowns combined with high business rates had played a role in the closures, and called on the government to reform the “broken” rates system (The Grocer).
Dairy farmers in Italy are increasingly using giant fans and sprinklers to help their cattle cope with extreme heat (The Financial Times £).
The Guardian looks at how supermarkets are profiting from Australia’s cost-of-living crisis. “Food prices are increasing about 8% a year, but some products are rising at nearly double that. What is going on? Is it price gouging?”
Australian shoppers trimmed their spending in June amid a cost-of-living squeeze, adding to the case for the Reserve Bank to extend its interest rate pause for another month (The Guardian).
French cosmetics group L’Oreal is still on the lookout for deals, hot off the back of its biggest acquisition after it agreed to pay $2.5bn for luxury skincare company Aesop (The Financial Times £).
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