The Post Office is set to close dozens of branches and axe hundreds of jobs, Sky News revealed. The company is publishing its full plans in the coming days, which will include shutting or franchising 100 wholly owned branches and result in over 1,000 people losing their jobs. Secretary Jonathan Reynolds said the Post Office was “an incredibly important institution of national life”, but required “significant changes” to the business model, attending the public inquiry into the Horizon IT scandal held last Monday.
Supermarket sales have jumped to the highest level since lockdown, as consumers paid regular visits ahead of Halloween and Christmas preparations (The Telegraph). Brits went to the shops an average of four times per week, according to Kantar. A mix of “panic-buying spree” and inflation saw supermarkets sales spike by 2.3% to £11.6 billion, an all-time high since the stockpiling days of the covid-19 pandemic.
Grocery inflation is nudging up as Christmas approaches. Reuters reports inflation increased to 2.3% in the four weeks to 3 November from 2% in the four weeks prior. British shoppers will face renewed pressure, as supermarkets maintain that the new Labour budget will result in continued inflation.
In other supermarket news, Marks & Spencer has overtaken Waitrose in the lead-up to Christmas, says The Telegraph. It’s the first time M&S sales put the retail giant in the lead ahead of the festive season, according to the report based on Kantar data. The success is linked to the retailer posting the biggest sales rise of any other supermarket during the period, and to new CEO Machin’s leadership.
Shortages of taramasalata and cold dips amidst Bakkavor strikes are still making headlines. The Guardian reports tens of consumers have taken to social media as tubs of own-brand taramasalata disappeared from shelves in person and online at Waitrose, Sainbury’s, Tesco, M&S via Ocado. Consumer have reportedly complained about shortages of the meze staple item for months.
Bakkavor reassured consumers its Christmas ranges would not be affected by the short supply, as they are manufactured at different sites (The Telegraph).
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