Ocado reported double-digit sales growth in the fourth quarter, but still fell slightly below consensus forecasts (The Financial Times). But The Times writes that the shrinking average basket size as shoppers use the online grocery site more frequently for smaller shops is “hard to digest”. The Mail says the average order size drop is down to more families shunning the weekly shop in favour of smaller baskets. Shares in the group stumbled as investors balked at its repeated failure to seal a deal with an international partner, The Telegraph adds.
Food prices will rise unless the government ensures EU citizens can work in the UK after Brexit, according to industry groups representing the major supermarkets and food manufacturers, The Guardian writes. The open letter, published in the newspaper, to the government is signed by 30 food and drink industry bodies, including the Food and Drink Federation.
McDonald’s generates column inches with the news it is to bring its international tax base to Britain. The Telegraph writes the move was post-Brexit vote of confidence in the British economy from one of America’s best known companies. The fast-food chain is moving its non-US tax base away from Luxembourg where its tax arrangements have come under sustained attack (The Financial Times). The shakeup means $1bn (£800m) of income from fast-food restaurants across Europe will flow through the UK instead, The Guardian points out.
Morrisons is joining rival supermarkets in the housing business with plans to build 700 homes as part of the redevelopment of its Camden store in north London (The Guardian).
Aldi has added 200 premium products to its Christmas range to take on high-end rivals Marks & Spencer, Waitrose and Fortnum & Mason, The Mail reports.
British drinkers knocked back record amounts of gin this year, with sales topping £1bn for the first time (The Mail). Sales of gin in pubs, bars and restaurants across the UK were up 19% year on year, according to the Wine and Spirit Trade Association.
Amazon’s no-checkout store threatens the death of the cashier, with the disruptive change equated to the supermarket equivalent of a self-driving car, The Financial Times writes.
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