Food inflation is starting to fall but will not return to levels seen before the start of the cost of living crisis, the boss of Sainsbury’s has warned (The Times £). UK supermarket chain Sainsbury’s has provided further evidence that food price inflation is easing, as the group reported an almost 10% increase in sales (Financial Times £). Food inflation is starting to fall, according to the boss of Sainsbury’s, who said shoppers were putting more items in their baskets as it began to cut prices on some basics (The Guardian). Food inflation is “starting to fall”, Sainsbury’s has said, as the retailer saw sales boosted by bank holidays and warmer weather (Sky News). Food prices are not rising as fast as they were, helping to boost the amount customers are buying, the boss of Sainsbury’s has said (BBC).Food prices will not return to where they were before Russia’s invasion of Ukraine, the boss of Sainsbury’s has warned (Daily Mail).

Drivers must accept higher petrol prices in order to keep food bills low, the boss of Sainsbury’s has suggested. (Telegraph £).

A pioneering rewards card allowed Tesco to overtake rival J Sainsbury nearly 30 years ago. On Tuesday it was the latter’s turn to credit a loyalty scheme for rising market share. Simon Roberts, chief executive of the UK supermarket group, said its recent “Nectar Prices” initiative helped fuel a return to volume growth last quarter. (Financial Times £)

Morrisons is closing a fruit-packing plant in Bradford, putting 450 jobs at risk in the supermarket’s home city where it traces its roots back to 1899 (The Guardian). Morrisons is planning to close one of its produce centres in Bradford, putting more than 450 jobs at risk (The Times £). Morrisons is shutting down a fruit- packing plant in its home city of Bradford – putting 450 jobs on the line (Daily Mail).

The chairman of Marks & Spencer has admitted that the retailer’s annual meeting would have to “look different” next year after a shareholder backlash against the entirely digital event (The Times £). Marks & Spencer’s chairman has suggested it could backtrack on discouraging shareholders from attending its annual meeting in person next year after a backlash (Daily Mail).

Haleon is exploring a potential $800 million sale of some of its smoking cessation products as part of a streamlining of its product portfolio after its separation from GSK last year. (The Times £)

Naked Wines has turned to its founder and former chief executive for the third time as the online wine retailer seeks to attract new customers at a higher rate (The Times £). Naked Wines has appointed its founder as chairman to try and boost its growth as the online wine seller revealed first-quarter sales were below forecasts (Daily Mail).

The British operation of Le Pain Quotidien has fallen into administration for the second time since the pandemic (The Times £). Brunchco UK, trading as Le Pain Quotidien in the UK, has brought in Kroll to act as administrators for the business (Sky News). A popular bakery and coffee chain has closed all but one of its UK sites with the loss of 250 jobs (Daily Mail).

The maker of Dove soap and Cornetto ice cream has defended its decision to keep operating in Russia more than a year after the country invaded Ukraine. Unilever said that exiting was “not straightforward” as its operations would be taken over by the Russian state if it abandoned them. (BBC)

Guinness is aiming to triple production of its zero-alcohol brand in response to a growing consumer taste for non-alcoholic drinks. (Daily Mail)

PZ Cussons says it hopes to triple the sales of Childs Farm by pumping extra cash into the baby products firm over the next five years. (The Daily Mail)

Heavily indebted French supermarket chain Casino has received two offers of a cash injection from groups led by prominent billionaires (Financial Times £). An inscrutable investor nicknamed the “Czech sphinx” is poised for a showdown with a French spy-turned-tech billionaire in a battle for the control of one of the country’s biggest supermarkets (Telegraph £).