Retail

Bloomberg The cost of Lurpak butter is emerging as the new flash point in Britain’s cost-of-living crisis, requiring security tags in stores and spawning a controversy that’s placed its owner, Arla Foods, on the defensive. “We understand that recent inflation in food prices is hitting many households really hard,” an Arla spokesperson said by email after the dairy firm’s Lurpak ...

  Bloomberg Tesco Plc and food giant Kraft Heinz Co have settled a dispute over price increases which left the UK’s biggest supermarket chain without products including brand-name ketchup and baked beans. The full range of Heinz products will now return to Tesco shelves and its online shopping site in the coming days, the two companies said in a joint ...

  Bloomberg J Sainsbury Plc held its profit forecast for the full year even as it warned that rising inflation means pressure on household budgets will intensify. Britain’s second-largest supermarket chain stuck to its forecast for the full year of underlying profit before tax of £630 million ($764 million) to £690 million. The grocer’s comparable sales, excluding fuel, fell 4% ...

  Bloomberg Just Eat Takeaway.com NV’s shares jumped the most in almost four years after Amazon.com Inc agreed to take a stake in its Grubhub business. The stake is part of a partnership where Amazon will offer US Prime users a one-year membership to the food delivery service, the Dutch company said in a statement. The deal is a vital ...

  Bloomberg Supermarket shoppers in Britain are increasingly opting for own-brand labels in a bid to save pennies on groceries. J Sainsbury Plc is seeing some customers switch into economy own-label goods and rival Tesco Plc said last month that clients are moving to store-brand versions of bread, pasta and beans. Households could save $649 a year by switching from ...

  Bloomberg Fomento Economico Mexicano agreed to buy Switzerland-based convenience store operator Valora for as much as $1.2 billion to expand into Europe. Femsa, as the company is known, offered 260 francs a share, a premium of 52% to the closing price, the companies said. Valora climbed as much as 51% to 258 francs in early Swiss trading. Based in ...

Bloomberg UK shoppers seeking to avoid higher bills at the checkout are running out of options after prices on more than half of supermarket items rise in the past year. Some 22,000 products offered by Britain’s four biggest grocers became costlier since last June, data from retail research firm Assosia shows. That includes a 35% surge in Heinz Tomato Ketchup ...

  Bloomberg Gucci’s former London headquarters is being offered for sale for £55 million ($66.6 million) after being transformed into the most expensive house currently on the market in the capital’s Mayfair district. The house, also available to lease for £40,000 a week, includes eight bedrooms, a garden terrace, a swimming pool, conservatory and sun room. Demand for London’s best ...

  Bloomberg Walgreens Boots Alliance Inc maintained its guidance for 2022 earnings even as the drugstore chain beat Wall Street’s estimates for fiscal third-quarter profit and revenue, another hiccup after it abandoned the planned sale of its UK pharmacy unit. Adjusted earnings were 96 cents a share, Walgreens said in a statement, compared with the average estimate of 94 cents, ...

  Bloomberg Mark Tritton was supposed to be the savior for Bed Bath & Beyond Inc — a hotshot executive from Target Corp who knew how to charm customers with in-house brands and train stores on handling online and in-person orders. But the chief executive officer never saw the fruits of his labour, and the home-goods retailer watched its sales ...