The resumption of online orders at M&S receives plenty of coverage in the media. For example the FT notes it will take ‘weeks’ to restore some online services as fashion ranges return. The Telegraph notes that ’more products will become available on its website each day’. Shares rose 4% and were among the top risers on the FTSE 100, The Guardian reports. Although the cyberattack is understood to have resulted in a £300m hit to the bottom line, M&S hopes to reduce this through cost management, insurance and other reactions by as much as ‘half’, writes the Daily Mail.
But the nationals have celebratory articles, including the Telegraph there’s a piece on ’nine must-buy’ pieces, while a feature in The Times is titled ’Oh, how I’ve missed my Marks fix’.
The Grocer also covered the resumption of online orders at M&S.
A report in The Guardian notes that ‘cheaper imported chicken and beef [is] increasingly being seen in UK supermarkets’. The article name checks Morrisons and Asda turning to Australia, Poland and Uruguay, prompting claims they are undermining British farmers, with Sainsbury’s also highlighted for sourcing wagyu beef from New Zealand. The Grocer has reported extensively on this issue in recent weeks including our recent report on meat imports from Uruguay.
The Times has a report on forecourt chain EG Group’s profits falling from $1.4bn to just $10m. It adds that the previous year included a one-off profit banked when EG Group sold the majority of its UK convenience stores to Asda. Operating profits fell from $2.2 billion to $856 million, according to newly-filed accounts at Companies House, although adjusted earnings before interest, taxes and other items rose from $1.2 billion to just under $1.4 billion.
In anticipating of the Chancellor’s spending review, Sky News predicts more cash for schools, NHS and defence. The spending review is a massive deal it adds in a piece from political editor Beth Rigby.
Sky News says Pepco Group is closing in on a sale of struggling discount chain Poundland. It adds that it’s ready to hand over tens of millions of pounds as part of a deal with turnaround specialists Gordon Brothers.
Diageo is mulling the sale of Indian cricket team Royal Challengers Bengaluru, The Times reports. The team is owned by Bangalore-based United Spirits, in which the FTSE 100 giant has a controlling stake of 55.9%.
Starbucks is accelerating a new staffing model for all North American stores, Reuters reports.
And finally Sky News reports on how a £1 ketchup has beaten big brands and posh sauces alike in a blind taste test. It’s part of a new ‘Our Verdict’ feature Sky News’ consumer and personal finance hub has launched.
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