Marks & Spencer has reinforced its dedication to tackling food waste by renewing its partnership with Retail Insight for an additional three years.Beginning in 2021, Marks & Spencer’s collaboration with Retail Insight has employed an AI-powered solution to implement dynamic markdowns, aiming to curb food waste and enhance sell-through in their stores. This partnership aligns with the retailer’s extensive sustainability strategies under the Plan A programme, which was initially launched in 2007 and refreshed in 2021 with aspirations to achieve net-zero operations by 2040.Chris Thomas, the Head of Product for Store Operations at M&S, expressed that the company’s partnership with…
Author: Dave Antrobus
Marks & Spencer has fortified its alliance with Retail Insight, a noted in-store software firm, as part of its ongoing mission to minimise food waste.For an additional three years, M&S has opted to renew its collaboration with Retail Insight, a relationship that has been ongoing since 2021. This partnership leverages Retail Insight’s advanced AI-powered solution to implement dynamic markdowns, effectively reducing unnecessary waste while simultaneously boosting sales across its retail outlets.The initiative aligns with M&S’s sustainable efforts, which have been navigated by the Plan A programme since its inception in 2007. The programme underwent a strategic reset in 2021 with…
Marshmallow, a London-based insurtech, has experienced a notable 75% increase in turnover, reaching £184 million in 2023.A reduction in losses by 98% was achieved, with figures lowering from £16.1 million to £208,000, as the company moved towards profitability.The organisation reported its first EBITDA-positive year since launching its own insurance carrier in 2021, indicating a positive financial trajectory.Despite a regulatory fine in June, Marshmallow aims to bolster corporate governance through further board training.Having expanded its workforce by a third, Marshmallow plans to continue its growth strategy and enhance profitability in the coming years.Marshmallow, a prominent player in the insurtech sector, has…
Food inflation in the UK experienced a modest rise last month, increasing 0.1 percentage point to reach 2%, as confirmed by the latest statistics from the Office for National Statistics (ONS).Despite this minor increase in food inflation, certain meat products, specifically pork, lamb, and beef, have seen a decrease in price over the past month. This comes as a somewhat surprising development given the broader economic pressures at play.The overall consumer price index also saw an increase, rising to 2.6% in November from 2.3% in October. Meanwhile, the cost of alcoholic beverages and tobacco recorded a more pronounced hike, soaring…
A novel addition to the festive season’s culinary offerings has emerged with the introduction of a vegan ‘Figs in Blankets’ chocolate bar, a creative endeavour combining tradition with modern dietary preferences.This limited-edition chocolate bar, an imaginative blend of sweet figs and salty vegan bacon seasoning encased in oat milk chocolate, is now available exclusively on Amazon. Priced at £3.50, part of the proceeds from sales will contribute to The King’s Trust’s efforts in empowering young individuals, emphasising a socially conscious approach to indulgence.The concept was born out of an initiative designed to inspire creativity in young people supported by The…
A pioneering step in the confectionery world, H!P has introduced a vegan chocolate bar, aptly named ‘Figs in Blankets’, exclusively for the Christmas season. This unique creation marries the sweetness of figs with a savoury vegan bacon seasoning, all enveloped in oat milk chocolate, capturing the modern shift towards plant-based festive foods.The vegan ‘Figs in Blankets’ chocolate bar is set to redefine traditional festive flavours with its innovative combination. This creation is inspired by illustrator Louise Coutinho, following a nationwide search for inventive chocolatier ideas. This initiative, supported by The King’s Trust and Amazon, invited young minds to explore their…
Borough Broth, renowned for its organic bone broths, is set to make a significant leap as it enters 311 Sainsbury’s stores nationwide starting 1 January 2025.Founded in 2015, Borough Broth has carved a niche for itself in the UK market through its dedication to British organic ingredients and traditional cooking methods. Operating from its West London kitchen, the brand has consistently expanded its footprint across the nation. This latest development marks a pivotal moment for the company, as it partners with one of the largest supermarket chains in the country.At the heart of Borough Broth’s ethos is a commitment to…
UK inflation has surged to its highest since March, highlighting economic challenges.Figures from the Office for National Statistics reveal a rise in CPI inflation to 2.6% in November.Price increases in petrol and clothing largely drive the inflation rise.Air fares recorded their largest drop in November, offering some relief.Industry experts voice concerns over the sustained cost of living pressures.The United Kingdom’s inflation rate has reached a new peak, marking its highest level since March, according to the latest statistics. This development emerges as a critical indicator of persisting economic challenges. Consumer Prices Index (CPI) inflation increased to 2.6% in November, up…
Shoe Zone has announced a downwards adjustment in its profit expectations for this financial year.The company predicts a pre-tax profit of at least £5m, down from an earlier expectation of £10m.Challenging trading conditions and a drop in consumer confidence have impacted sales and profits.The October Budget has introduced significant additional costs for the company, affecting profitability.Other retailers, including Currys and Sainsbury’s, also feel the financial pressure from government policy changes.Shoe Zone, a key player in the footwear market, has lowered its profit expectations for the financial year ending 27 September 2025. The company now anticipates a pre-tax profit of no…
Shoe Zone has adjusted its profit forecast for the financial year due to unexpected economic challenges.The company now anticipates a pre-tax profit of no less than £5 million, reduced from the previous £10 million estimate.Challenging trading conditions, including weakened consumer confidence and unpredictable weather, have impacted their financial outlook.The October Budget has imposed additional costs on Shoe Zone, with increased National Insurance and National Living Wage expenses.Store closures are planned as part of Shoe Zone’s adjustments to deal with these financial pressures, similar to other retailers facing comparable budget impacts.Shoe Zone, a notable retailer in the footwear sector, has revised…