A turnaround plan at Morrisons appears to be taking effect as the UK’s fifth largest grocer reported the strongest quarterly sales growth since its £7bn takeover in 2021 (The Times £).
The new boss of Morrisons says his turnaround is ‘in full swing’ after sales grew at the fastest rate for three years (The Mail).
Morrisons posted widening losses in the first quarter after the retailer was weighed down by debt finance costs tied to its private equity takeover (The Telegraph £).
The Bradford-based grocer on Thursday announced a 4.6% rise in group like-for-like sales (ex fuel) in its first quarter to 28th January, with total sales up 3.9% to £3.9bn (The Grocer).
Asda, Asos and Boohoo have agreed not to make “misleading” claims about their green credentials after a crackdown from the competition watchdog (The Telegraph £).
As part of the clampdown, George at Asda must not only avoid making misleading claims about the eco-credentials of their clothes, but also file regular reports to the Competition & Markets Authority (The Grocer).
Investors looking to pile their baskets high could do worse than consider shopping for Sainsbury’s, analysts at UBS have decided (The Times £).
Scotland has lost up to £100mn a year in salmon exports to the EU because of red tape and increased costs associated with Brexit, according to data from trade body Salmon Scotland (The Financial Times £).
The prospect of a bidding war for Britain’s champion cardboard box manufacturer lifted shares in DS Smith to a two-year high (The Times £).
The US paper giant bidding for one of Britain’s biggest packaging companies is looking at listing shares in London should the deal go through (The Mail).
A sharp fall in the number of EuroMillions draws with a jackpot of at least €100m took the edge off annual results at the UK’s new National Lottery operator Allwyn International (The Times £).
A doctor’s warning not to eat Easter eggs in one sitting has been taken down from his NHS board’s website after accusations that the advice resembled a “nannying state” (The Times £).
EU member states have agreed to tighten restrictions on imports of important Ukrainian foodstuffs to pacify angry farmers who claim goods from the war-torn country are undermining prices (The Financial Times £).
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