Premier Foods, the company behind a host of brands including Ambrosia and Mr Kipling, says selected discounting helped drive strong Christmas sales growth and there are plans for more price cuts ahead (Sky News). The maker of Batchelors Super Noodles and Angel Delight has extended promotional price cuts to more products, including Loyd Grossman cooking sauces and Mr Kipling Bakewell slices (The Guardian). The owner of Mr Kipling cakes and Oxo Cubes has promised to reduce prices across more of its range after scoring its ‘biggest ever Christmas’ (Daily Mail).
Inflation in the UK will not return to levels seen before Russia’s invasion of Ukraine because of rising wages, a senior executive at Associated British Foods has said. (The Times £)
Primark is holding the price of its clothing steady this spring, after price rises in 2023, as the retailer said consumer spending remains fragile and some of its costs were falling. (The Guardian)
Primark sales growth slowed over the crucial Christmas quarter, but recovered well after unseasonably warm weather impacted trade in the early part of the period. (Daily Mail)
Procter & Gamble has cut its annual profit forecast following a writedown in the value of its Gillette business as the boost from previous price increases in America starts to fade (The Times £). Shares in Procter & Gamble rose more than 4% on Tuesday as it reported unexpectedly strong volume growth in its core US and European markets even after it pushed through further price increases (Financial Times £)
The Co-op is to open more shops this year as it targets a greater share of Britain’s convenience market. (The Times £)
The incoming UK National Lottery operator is bracing for a decline in sales in its first year of operations, threatening a reduction in charitable funding, according to internal projections. (Financial Times £)
Johnson & Johnson has said it has reached a tentative deal with more than 40 US states over their investigation of the marketing of its talc-based baby powder and other products. (BBC)
Supermarket chain Morrisons has scrapped four-day working weeks for its head office staff following feedback, writes the BBC, citing The Grocer’s article. (BBC)
Pub chain Marston’s toasts strong Christmas sales amid signs inflation is easing. (Daily Mail)
Once loved for its pick ‘n’ mix sweets and bargain prices, Woolworths stores could return to the UK. In 2009 when its British shops closed after the financial crisis, the brand in Germany, where it is known as Woolworth, was saved by HH Holding. Current HH Holding chief Roman Heini says the UK is on his “bucket list” of destinations as he seeks to expand internationally. (BBC)
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