Investors endured a torrid start to the year as concerns over the slowdown in China spooked financial markets around the world, but there was also trouble afoot at online grocer Ocado.
The Daily Mail notes Ocado’s shares plunged 6.15%, or 18.7p, to 285.4p – meaning the company has lost more than 16 per cent of its value in just four days of trading. Shareholders are still struggling to digest last week’s disappointing sales figures and concerns that the British firm will struggle to compete against Amazon are also weighing heavily on its share price, the Mail writes. (The Daily Mail)
Rising demand for the perfect cup of joe could lead to a coffee crisis within three to five years as supplies of high quality beans dry up, a market expert has said. The spread of coffee shops across the UK, higher consumption and finer tastes have created a “structural imbalance” between supply and demand that could lead to a shortage of high quality coffee. (The Daily Telegraph)
The Mail looks at Diageo’s opening of an experimental bar at the Guinness brewery just before Christmas as a hub for its master brewers to incubate new ideas. This is meant to tap into the trend for something different, the paper writes. It has also dug up recipes from its archives and introduced a raft of variants using the Guinness badge. (The Daily Mail)
Shoppers are cashing in on the high street sales fever with “hedge spending” - returning items purchased at full price once they can find them at a discount - research has found. (The Daily Telegraph)
Radnor Hills, a family-run soft drinks company based in mid-Wales, has revealed plans to almost double its production capabilities to meet ballooning demand for healthier alternatives to sugary juice concentrates. The firm currently has the capacity to produce 180m bottles of water, flavoured spring water and fruit-based tonics each year, but this will jump to 300m following a £4.5m investment into bottling lines. (The Daily Telegraph)
In a salutary tale for the raft of crowdfunding campaigns in the food sector, crowdfunding investors stand to lose more than £100,000 after the collapse of a fashion business that is still trading with the same name, using the same assets and operating under the same management, writes The Times (£).Crumpet Cashmere entered liquidation last month, a year and a half after it raised more than £160,000 from 112 investors using Crowdcube. (The Times £)
In wider retail, there is also plenty of coverage of Sports Direct’s revelation yesterday that boyfriend of founder Mike Ashley’s daughter could receive millions of pounds for his role as a property consultant to the company. (The Financial Times £, The Times £, The Telegraph, The Guardian)