Dame Sharon White has pledged to get the John Lewis Partnership back to “sustainable” profit before 2026, although this may require outside investment (The Times £). The boss of the ailing John Lewis Partnership pledged to return it to profit by 2026 – but insisted staff bonuses would only return ‘when affordable’ (Daily Mail)

Many of the papers cover the death of Sir Ivan Menezes, who led global drinks group Diageo for a decade, who passed away aged 63 after a brief illness (Financial Times £, The Guardian, Daily Mail, BBC, Telegraph). Diageo’s chairman paid tribute to the work and legacy Sir Ivan leaves behind, saying he was “beloved by our employees, past and present” (Sky News).

Sir Ivan Menezes was a towering figure in the drinks industry, writes The FT. “Colleagues at Diageo and across the industry describe Menezes as a humble and courteous man, the antithesis of a flashy CEO.” (Financial Times £)

The Times writes: “A marketing background seemed to give him an instinct for what drinkers wanted. Despite the fluctuations in the global economy, he realised that gradually rising living standards would fuel “premiumisation” — the propensity for spirits consumers to weather price increases and trade up to more expensive brands.” (The Times £)

There has been a “massive shift” in the way we do our grocery shopping since the pandemic, analyst firm Kantar has told the BBC. Among the changes, shoppers now visit the supermarket less often, spend more on own-label goods and are turning to loyalty schemes to get discounts. (BBC)

An English sparkling wine producer controlled by Lord Ashcroft is planning to plant a further 55 hectares of land over the next two years as it seeks to up the ante on volumes. (The Times £)

Last year was ‘at least as challenging’ as having to endure the pandemic for Adnmans brewery, the group’s chairman has said. Dr Jonathan Adnams said the brewer’s trading was strong in early 2022 following two difficult years, but had then suffered from rising interest rates, soaring inflation and industrial unrest. (Daily Mail)

Almost a third of baby and toddler foods sold in the UK are ultra-processed, risking children’s long-term health and development, according to research. (The Guardian)

Bubble tea chain Gong Cha brews up big plans for Britain. The franchised chain’s first outlet opened in 2006 and this year it will pass 2,000 stores globally. Its target is 10,000 by 2030. (The Times £)

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