A week in retail land and supplierville.
I think that I have said this in previous blogs, but the retail sector never fails to surprise me. Each week there is something new or interesting announced. This week we have seen some debate about extending the remit of the Grocery Codes Adjudicator. Our parent organisation, British Growers Association, was on BBC Radio Lincolnshire and BBC Radio 4 “You and Yours” programme this week and Chief Executive, Jack Ward, has written a blog on their site about it.
We see a turnaround at Tesco with more positive results, sustaining this recovery is going to be the difficult part. Then the Grocer announces that the discounters overtaken Tesco in terms of new store openings and FPJ tell us that Iceland have increased their fresh produce sales dramatically in last two years. Then Tesco counter Sainsbury’s end of Brand Match promotion by offering to redeem the vouchers in their store to their customers.
Then the CEO of the Co-op takes a 60% pay cut after Bloomberg warn that insolvencies in companies supplying the retail sector has rocketed in the past five years, and that is a fivefold increase in those numbers.
The in the supply industry we have the Brexit and Bremain camps countering each other with stories of doom and gloom if we do or don’t leave the EU. Just another normal week in paradise!