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The Latest Breaking News from Clive Black

UK hits ‘peak Costa’ as soaring prices see coffee chain’s losses double

The drinks chain is owned by Coca-Cola, which is exploring a possible sale for around £2bn

The Independent UK

Asda to raise £568m in store sell-off as sales continue to fall

Supermarket still losing market share despite effort under Allan Leighton to win over customers with price cuts

The Guardian - UK

Ocado shares fall 17% after US partner announces warehouse closures

Online grocer had a deal with Kroger to build 20 customer fulfilment centres but three of the sites are to close

The Guardian - UK

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M&S ‘praying for sun’ but full recovery from cyber-attack unlikely this summer

Shoppers report low availability as retailer prioritises clothing in partial resumption of online services

The Guardian - UK

Upmarket Finest range helps lift Tesco sales amid UK ‘home dining boom’

Sales of own-brand line jump 18% in first quarter, which may be reaction to high restaurant prices, say analysts

The Guardian - UK

Asda cuts prices on 1,500 products in effort to halt sales slide

Supermarket to ‘invest in lowering prices across rest of year and beyond’ as it intensifies price war with rivals

The Guardian - UK

Retailers warn of higher prices in 2025 and urge ministers to ease tax burden

Companies grappling with higher employment costs say price of food may rise by 4.2% in latter half of year

The Guardian - UK

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‘Drab December’ caps another year of declining footfall on UK high street

Visitor numbers at retail sites down 2.2% compared with 2023, raising fears of disappointing Christmas sales

The Guardian - UK

Next sees annual profits topping £1 billion after autumn sales boost

The retail giant has raised its full-year pre-tax profit guidance by £10 million to £1.01 billion after third-quarter sales jumped 7.6%.

Evening Standard

Next sees annual profits topping £1bn after autumn sales boost

The retail giant has raised its full-year pre-tax profit guidance by £10m to £1.01bn after third-quarter sales jumped 7.6%

The Independent UK

Shein doubles profits in UK after sales leap 40% to £1.5bn

Fast-fashion retailer presents ‘real challenge for Boohoo and Asos’ as it considers £50bn IPO, says analyst

The Guardian - UK

Mike Ashley’s Frasers Group makes £83m offer for handbag maker Mulberry

Sports Direct owner looks to up 37% stake to 100% amid concerns for future of cash-strapped fashion firm

The Guardian - UK

Currys shares soar as Chinese online retailer enters takeover battle

JD.com weighing up offer after UK electrical retailer rejects £700m bid from US private equity group Elliott

The Guardian - UK

Bumpy ride for billionaire brothers who banked on Asda’s success

Blackburn’s Moshin and Zuber Issa took over the supermarket promising investment to make it the UK’s second-largest chain, but the pandemic and cost of living crisis meant it did not go to to plan

The Guardian - UK

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Evening Standard

Sainsbury profits could hit £700m, but it insists food costs are falling

Costs of toilet paper and chicken are down

Daily Mirror

Aldi gives fresh update on rationing fruit and vegetables after supermarket shortage

A brief statement from the retailer revealed the major change to the rationing scheme after it was brought in two weeks ago at several major supermarket chains

Chronicle Live

'Supply is there but the prices are high' - Consett greengrocer caught up in supply shortages

Supermarkets limit how many salad items customers can buy as 'perfect storm' of weather and costs cause challenges

The Guardian - UK

UK salad shortages could last a month, warns environment secretary

Thérèse Coffey advises consumers to opt for turnips as tomato and cucumber supplies dwindle

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Daily Mirror

Aldi, Tesco and Asda fruit and veg shortages could spark 'sky-high' prices

Clive Black, an analyst at broker Shore Capital, said Brits will have to pay sky-high prices to tomatoes and cucumbers as he warned that restrictions to supplies could drag on for 'weeks'

The Guardian - UK

‘Big four no more’: where now for UK grocers as Aldi overtakes Morrisons?

Discounter gains market share as shoppers seek better value amid cost of living crisis

Daily Mirror

Brits could see food bills rising by £1,000 a year amid cost of living crisis

Retail expert Clive Black says food prices have risen by up to 12%, putting the average family’s food shop of £150-£200 up by around £20 a week. The steep rise adds up to more than £1,000 over a year

Daily Mirror

Food price inflation to double in coming months as Brits face cost of living crisis

Figures this week from the Office for National Statistics revealed food and drink price inflation soared to 5.9% in March, the highest for more than a decade - but analysts say worse is to come

People

Catherine Shuttleworth

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Office for National Statistics

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