US confectionery giant Hershey is in the early stages of exploring options for British crisps brand Tyrrells, which it bought through the acquisition of Amplify Snack Brands less than four months ago for $1.6bn Sky News. This will mean Tyrrells will be heading for its third owner in little more than 18 months.

Diana Hunter’s resignation as chief executive of Bargain Booze and Wine Rack owner Conviviality receives coverage this morning following an announcement yesterday which was not unexpected. The Times (£) reports the company is tipped this week to finalise plans to raise more than £150m of cash in an emergency rights issue to shore up its operations.(The Telegraph, The Financial Times £)

Trade bodies and business groups have broadly welcomed what they say is a decisive step in Brexit negotiations that has led to an agreement over the terms of a transition period after the UK leaves the trading bloc next year, says The Independent. The EU on Monday said it would let Britain sign its own trade deals during the transition phase. However, they will not come into force until after the transition ends Sky News.

Consumer spending growth will fall to 1.1% this year, from 1.8% in 2017, PWC has forecast, reports The Times (£). It will then edge up slightly to 1.3% next year. John Hawksworth, chief economist, at PWC, said the pattern of consumer spending would continue to evolve in the longer term, with its projections suggesting that housing and utilities would continue to eat up more of household budgets, while spending on other essentials, such as food and clothing tended to decline.

Shoplifting reports have doubled in a year, the Association of Convenience Stores’ 2018 Crime Report has revealed, The Daily Telegraph. The ACS noted more than 950,000 incidents of theft reported in corner shops over the past year – up from 575,000 in the previous year. The trade association’s report says the rise in shop thefts is also linked to aggressive behaviour towards workers. Retailers have blamed the police for turning a blind eye. James Lowman, ACS chief executive, said retailers and their staff faced regular violence and abuse for enforcing the law, whether it be challenging thieves, refusing the sale of age-restricted products or declining to serve the intoxicated.

Archer Daniels Midland, the Chicago-based global agricultural merchant, plans to restructure its operating divisions for the second time in three years. The company, which ships bulk foods such as corn, wheat and soyabeans or processes them into ingredients, is battling falling profit margins in the grain industry. The new divisions are origination, carbohydrate solutions and nutrition Financial Times (£).

Persil manufacturer Henkel warned investors 2018 sales had got off to a “slow start” and said revenues in two of its three key business divisions were decreasing. The Financial Times (£) S&P Global Market Intelligence data shows analysts expect Henkel will report a year-on-year rise of 6 per cent in operating profit to €874m.

Britain can finally lay claim to having Europe’s largest shopping centre in Europe following the opening of a £600m extension in White City, west London, six months ahead of schedule, reports The Times (£). The 740,000 sq ft extension increases the size to 2.6m sq ft, trumping Aviapark in Moscow and the Westgate shopping city in Zagreb, Croatia. John Lewis is anchor tenant.

 

Topics