6:38 am, July 11, 2023
Retail sales boosted by warm June weather
Retail sales received a warm weather boost in June as consumers splashed out on swimwear and outdoor furniture.
Total retail sales were 4.9 per cent higher than last June – and above the three-month average growth of 4.6 per cent – as the hot weather prompted purchases of swimwear and beach towels, sunscreen, outdoor games, garden furniture and barbecue food, according to the BRC-KPMG Retail Sales Monitor.
Sales were boosted by families celebrating Father’s Day, but consumers were more cautious about big-ticket buys such as indoor furniture and technology equipment.
Shoppers concerned about supermarket ‘shrinkflation’, finds survey
Four-fifths of shoppers are worried about supermarket ‘shrinkflation’ and are turning away from their favourite brands as a result, according to a survey.
Some 81 per cent of 2,000 consumers polled by Opinium for Barclays said they were concerned about buying smaller-sized items at original prices, with 29 per cent buying their favourite product less often as a treat and 18 per cent switching to brands that hadn’t changed their sizes.
In June, 70 per cent of Britons had noticed examples of shrinkflation, up from 65 per cent in May – particularly when buying chocolate (46 per cent), crisps (42 per cent), packets of biscuits (37 per cent) and snack bars (32 per cent).
Sick pay reforms could boost UK economy by £4.1bn – research
Reforms to sick pay could cut absence levels and provide a £4.1bn boost to the UK economy, according to new research.
New analysis from WPI Economics found that higher rates of employer sick pay provide longer-term benefits that more than offset the increased cost to firms.
It said the economy would receive a £4.1bn boost if every worker on statutory sick pay – currently £109.40 a week for up to 28 weeks – received increased sick pay from their employer from day one.
Carwow founder steps down with immediate effect
Carwow founder James Hind has stepped down from his role as CEO of the business with immediate effect.
Hind – who has run Carwow for 14 years – has handed day-to-day control to chief operating officer John Veichmanis. who joined it three years ago.
His appointment is still subject to FCA approval. Full story here
Waitrose partners with Uber Eats to achieve as little as 20-minute delivery
Waitrose has launched a partnership with Uber Eats to have its groceries delivered to customers’ doors in as little as 20 minutes.
The upmarket grocer is now on the Uber Eats platform from five London shops – John Barnes in Finchley Road, West Hampstead, Clerkenwell, St Katharine Docks and Greenwich.
More than 200 shops, including in Wales and Scotland, will be involved by the end of August.
People using unregistered crypto ATMs risk losing their money, FCA warns
People using unregistered cryptocurrency machines risk losing their funds if something goes wrong, the City regulator has warned.
The Financial Conduct Authority said it is continuing to crack down on unregistered crypto ATMs in the UK.
Unlike traditional ATMs, they aren’t connected to a bank account. Instead, the machines – generally found in retail premises – send or receive cryptoassets from a person’s crypto wallet.
Hunt prioritises tackling inflation over tax cuts amid pressure from Tory MPs
Jeremy Hunt said he is prioritising tackling inflation over tax cuts, in a blow to Tory MPs clamouring for a pre-election giveaway.
In his first Mansion House speech as chancellor yesterday, he said that bringing down soaring prices ‘puts more money into people’s pockets than any tax cut’.
The comments will further alarm Conservatives who have been pressing for reduced taxes to help drive economic growth and win over voters, as the party trails Labour in the polls.
Protein powder containing ‘potentially lethal’ amounts of caffeine recalled
Shoppers have been urged not to consume a protein powder that contains ‘potentially lethal’ amounts of caffeine.
Home Bargains has recalled 1.5kg bags of Sci-Mx Nutrition Ultra Muscle Strawberry Flavour with a best before date of March 2025.
The Food Standards Agency said testing of the product found that it contained more than 5,000mg (5g) of caffeine per serving. Advice on the packaging says to have two helpings per day, but 10g of caffeine can be a lethal dose for most individuals, the FSA warned.
Thames Water misses targets on leakages, pollution and usage
Thames Water has missed half of its performance targets, including those on leakages, sewer flooding, pollution, blockages and customer usage.
The supplier has struggled to meet its goals for the 2022/23 year while it battles to stave off nationalisation because of its £14bn debt mountain.
The company acknowledged its performance wasn’t where it needed to be, but attributed some shortcomings on external factors such as extreme weather and ageing infrastructure as it published its annual results yesterday.
Tamiya’s iconic remote-controlled car inspires full-size version
Tamiya’s classic remote-controlled buggy from the 1980s has spawned a road-legal full-size version capable of up to 62mph.
Set to arrive next year, the Tamiya Wild One Max – created by The Little Car Company – will start from £35,000 excluding VAT.
Powered by eight swappable battery packs, it has a claimed range of up to 124 miles yet weighs in at just 500kg. Buyers can secure their vehicle with a £3,500 deposit from Thursday (July 13) onwards.
Yesterday’s headlines on Car Dealer you might have missed
- Lithia looking for acquisition targets for Jardine as US firm takes reins of luxury car dealer group
- Motorists prefer to sell used cars to dealers than online buying services – study
- Police make arrest after suspected attempted murder at suburban BMW dealership
- Pendragon appoints Jemima Bird as director to replace Ian Filby as head of remuneration committee
- Greenhous sees profits take a major hit as dealer group falls back from record-breaking 2021
Market movements
The FTSE 100 closed 16.85 points up yesterday to end the day on 7,273.79. The Cac 40, meanwhile, was up 31.81 points at 7,143.69, the Dax was up 69.76 points at 15,673.16 and the Dow Jones was up 209.52 points at 33,944.40.
Weather outlook
Today will be unsettled with early rain clearing from the south-east, says BBC Weather, leaving heavy and thundery showers across the UK that will be most frequent in northern and western areas. It’ll also be breezy, particularly in the south.
Wednesday will stay breezy and scattered showers will spread in from the west, some thundery in the south, with sunny spells between for most. Thicker cloud will build in northern Scotland.
