A top executive at Morrisons is in talks to leave, days after it emerged that the Bradford-based grocer had been displaced as Britain’s fourth-biggest supermarket chain. Trevor Strain, Morrisons’ chief operating officer and previously its finance chief, is reportedly close to finalising his departure. (Sky News)
Confidence among British consumers has fallen to another record low, with British households said to be “buckling under the pressure” of the ongoing cost of living squeeze (The Times £). UK consumer confidence has defied expectations of an improvement and fallen to a new all-time low, as households struggle under the pressure of the cost of living crisis (The Financial Times £).
Lidl is increasing staff wages for the second time this year in a £39.5m investment that propels it to the top of the supermarket pay league table. (The Guardian)
Inflation and consumer cutbacks have eaten into profits at PZ Cussons, but the maker of Imperial Leather soap and Carex handwash said that trading remained strong as it adjusts to the end of a pandemic boom in sales of hygiene products. (The Times £)
More than a quarter of businesses reported a fall in revenues last month, with restaurants, pubs and bars in particular struggling as hard-up consumers tightened their purse strings (The Times £).
Southwold brewer Adnams has said that the challenging economic environment is hurting pubs and said higher prices could soon make a visit too expensive. (The Daily Mail)
The voluntary real living wage has been raised earlier than usual to provide more financial support to hundreds of thousands of workers during the cost of living crisis. (Sky News)
The family of a woman with a severe dairy allergy who died after eating a “vegan” Pret a Manger wrap contaminated with milk protein have warned that more people will die unless comprehensive testing throughout the food supply chain and better labelling are introduced. (The Guardian)
The share price of Naked Wines, the UK-based online wine retailer, has accidentally fallen like a green bottle in a nursery song. Pratham Ravi worried too, it appears. The non-executive director, who represented shareholder Punch Card Capital, resigned without explanation after only three weeks. (The Financial Times £)
A looming carbon dioxide shortage in the US could leave the consumer goods industry feeling flat. Its applications include putting the fizz in soft drinks and beer, stunning animals before slaughter, and packaging food. A lack of CO₂ — or having to pay more for it — will add to companies’ growing bills. These already include higher prices for energy, labour and transport. (The Financial Times £)
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