Britain’s shops are slashing workers as they try to cut costs in the face of rising prices and falling sales. The number of jobs in the industry fell by 2.2% in the first quarter of the year compared with the same period of 2016. Hours worked fell even further, dropping 6% on the year, the British Retail Consortium said. (The Telegraph)

Bargain airport prices for favourites such as gin and Toblerone are now likely to be cheaper at the supermarket, Which? has found. A 360g bar of Toblerone cost £4 at Bristol World Duty Free but £3 at Asda, while a 70cl bottle of Tanqueray gin cost £18 at Heathrow Terminal 2 and £15 at Morrisons, the consumer group found. (The Guardian)

Sales of Vimto are soaring in the Middle East as Muslims stock up on the soft drink ahead of Ramadan. Nichols, which has been manufacturing it since 1908, sells millions of bottles in the region every year - with some shops rationing the number that customers can buy. (The Daily Mail)

PepsiCo profits beat expectations in the first quarter, boosted by sales of “guilt-free” snacks and drinks as the company tries to appeal to more health-conscious customers. The results, announced on Wednesday, followed a weaker performance by its main rival, Coca-Cola, underscoring PepsiCo’s success in adapting to changing consumer tastes and diversifying from sugary soft drinks. (The Financial Times £)

Procter & Gamble posted a slightly steeper than expected fall in quarterly sales, as a strong dollar and a “slowdown in market growth” weighed on the US consumer products group. (The Financial Times £)

McDonald’s is to roll out a home delivery trial this summer in a bid to get in on the rapidly expanding market. Its announcement comes a week after KFC offered the service from 30 restaurants in London via the popular Just Eat app and as recent figures show that last year home deliveries grew ten times faster than the eating-out market. (The Daily Mail)

The man credited with leading the resurgence of Wagamama has resigned as chief executive after the noodle bar chain’s private equity backers ruled out the immediate prospect of an exit. David Campbell, 57, who took over four years ago, is handing over with immediate effect to Jane Holbrook, the group’s chief operating officer for the past year and before that its chief financial officer. (The Times £)

Weight Watchers shares gain 10% after announcing new CEO. Mindy Grossman, who has served as chief executive of direct-to-consumer content and commerce company HSN, will take over the top role at Weight Watchers in July. (The Financial Times £)

Hershey, the maker of Kit Kat and Twizzlers, posted disappointing sales for the first quarter reflecting soft US food trends, but reported adjusted earnings that topped analysts’ estimates. (The Financial Times £)

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