Author: Scott Dylan

Tesco Mobile reports a £449,000 pre-tax loss despite achieving over £1bn in sales for their 2023 financial year.Revenue increased from £969.5m to £1.05bn, driven by higher-end handset sales.Contract customers rose by 6.2% while prepaid customer numbers declined significantly.Strategic focus on new product launches and innovative offerings marked the company’s response.The long-term joint venture with Virgin Media O2 was renewed for another decade.Tesco Mobile, a notable joint venture between Tesco and Virgin Media O2, reported a pre-tax loss of £449,000 for the year 2023, a stark contrast to the £8.3 million profit recorded in 2022. Despite this financial setback, the company…

Authentic Brands Group has successfully acquired Champion, marking its largest purchase since acquiring Reebok.The acquisition deal is valued at $1.2bn, potentially increasing to $1.5bn depending on performance.Authentic Brands is set to manage Champion’s core operations in the North American region.Key partners in various regions have been announced to strengthen Champion’s market presence.Additional partnerships and expansions are planned across Europe, Asia, and Australia.Authentic Brands Group, with ownership of over 50 global brands, has finalised the acquisition of Champion. The purchase is Authentic’s most significant transaction since buying Reebok in 2022. Initially announced in June, the deal with HanesBrands is valued at…

Zego, a leading insurer for delivery riders in the UK, has announced significant changes in its business strategy to focus on achieving profitability.Over 100 jobs have been cut as part of Zego’s shift away from the B2B market to concentrate on the B2C sector.The company aims for sustainable growth and profitability by 2025, after reducing its annual losses significantly.Zego was the UK’s first insurtech unicorn, achieving a valuation of $1.1 billion in 2021 following a major investment round.The strategic realignment reflects Zego’s efforts to position itself better for long-term success in the competitive insurance industry.Zego, prominent in insuring the UK’s…

In September, UK retailers faced challenges due to unfavourable weather, leading to significant price reductions.The British Retail Consortium (BRC) and NielsenIQ released figures indicating a 0.6% year-on-year drop in shop prices, the steepest since August 2021.Non-food items such as furniture and clothing experienced notable price cuts, driven by competition among retailers.Food inflation marginally increased to 2.3% because of poor harvests in critical regions, affecting cooking oils and sugary items.Retail sales volumes rose by 2.5% in August, attributed to heightened spending on various goods due to warm weather and promotional events.The latest data from the British Retail Consortium and NielsenIQ revealed…

Asda has launched a new initiative aimed at equipping students with vital career skills and showcasing opportunities within the food industry.This pioneering programme targets students from primary to college level, fostering community engagement and vocational development.Programmes align with UN Sustainable Development Goals, focusing on themes like sustainability, inclusivity, and food waste.Students will engage in practical projects, from developing sustainable products to solving industry-specific problems.Through mentorship and real-world business challenges, pupils will gain valuable insights into career paths at Asda and beyond.Asda is implementing a three-tiered educational programme that spans the entire academic year, targeting primary, secondary, and college students in…

At the Conservative Party Conference, significant judicial system reforms were proposed by former justice secretary Alex Chalk, centred around Crown courts handling only the most serious cases.The proposal suggests adopting elements from a 2001 review to streamline the court process, potentially impacting the allocation of cases.Chalk questions the current system where individuals charged with minor offences can elect for Crown court trials.Increasing magistrates’ sentencing powers is being considered to alleviate burdens on Crown courts and manage prison populations.Chalk acknowledges past efforts but insists further steps are necessary to tackle the backlog.At the recent Conservative Party Conference, former justice secretary Alex…

The issue of clothing not fitting upon delivery is a common frustration for UK shoppers, leading to high return rates.N Brown is innovatively addressing this by leveraging technology and data through their ‘Fashion for All’ campaign.This initiative aims at improving the fashion experience for consumers, enhancing both confidence and well-being.Key insights from Sarah Ewens-Smythe reveal the campaign’s success in reducing return rates and promoting sustainability.The podcast also explores personalisation in retail with insights from Lewis Rhys Davies of SheerID.The perplexing problem of ill-fitting clothes ordered online plagues many UK consumers, leading to dissatisfaction and elevated return rates. N Brown is…

Social commerce is revolutionising consumer engagement, especially on platforms like TikTok.Retail Economics predicts the social commerce sector will double its value to £16bn by 2028.PUMA, guided by Rhys Harbinson, is tapping into this potential through strategic affiliate partnerships and TikTok LIVE.PUMA’s approach to creating compelling shoppable videos is setting a benchmark in the industry.The collaboration between PUMA and TikTok UK illustrates a promising model for direct-to-consumer outreach.Social commerce is increasingly becoming a pivotal method for brands to engage with consumers directly. Platforms like TikTok are at the forefront of this change, providing avenues for interaction that go beyond traditional marketing.According…

The plant-based industry is experiencing both challenges and opportunities.Mimic meat products are facing a significant decline in consumer demand.Natural plant-based products continue to show strong growth potential.The market for mimic meats was initially overestimated, leading to current struggles.Deliciously Ella remains unaffected due to its focus on natural ingredients.The current landscape of the plant-based industry reveals a dual nature of challenges and opportunities. According to Matthew Mills, chief executive of Deliciously Ella, products that mimic meat are witnessing a substantial decline. This decline is attributed to the overestimation of consumer demand by investors, which has not materialised as expected.Despite the downturn…

Greggs has reported a substantial increase in sales, spurred by strategic menu innovations and extended evening hours.The bakery chain experienced a total sales increase of 10.6% in the last quarter.Key drivers of this growth include ongoing menu development and expanded trading hours.Over 1,200 branches now operate past 7 pm, aiming to capture evening sales.Greggs plans to open 140 to 160 new shops, continuing their growth trajectory.Greggs has reported another impressive quarter of sales growth, highlighting the success of its strategic adjustments. The company saw a 10.6% increase in total sales, with like-for-like sales up by 5%. This success is attributed…