Late-November budget may affect Christmas shopping, says Aldi boss
The UK boss of Aldi has warned that the late November timing of the budget could hit consumer spending in the all-important run-up to Christmas.Giles Hurley, the UK chief executive of Aldi in the UK & Ireland, said that the uncertainty over the measures that the chancellor, Rachel Reeves, will take to address a fiscal hole in the government’s finances could affect festive season spending decisions by consumers.“There is no doubt the budget does create a bit of uncertainty,” he said.“If you ask customers across the length and breadth of the country they would say that inflationary pressures are persistent.Inflationary challenges are just tremendously challenging.
“[For consumers, grocery inflation] comes on top of bills elsewhere going up.Household groceries have become a bigger proportion of household income, without question.”Hurley’s comments came as the Food and Drink Federation (FDF) significantly raised its forecast for food and drink inflation to hit 5.7% by the end of the year, up from a previous prediction of 4.8%.
Hurley said the impact of April’s rise in employer national insurance contributions (NICs) and the extended producer responsibility for packaging had “rippled through to prices on the shelf edge”,Last month, more than 60 retailers wrote to Reeves urging her to avoid implementing further taxes on the industry in the budget,However, while acknowledging that there is “no doubt” the 26 November budget was injecting uncertainty into the market, he added that the importance of the festive tradition means that “when it comes to groceries and Xmas, British consumers always find a way to celebrate”,Hurley said there was a trend for shoppers to increasingly focus on spending a little more on a home dining experience instead of going out, with its premium own-label range recording 14% growth last year,“We expect that trend to continue this Christmas,” he said.
“Shoppers are prioritising value,There definitely is a trend we are seeing with customers treating themselves at home rather than going out,”Hurley also said shoppers could face higher food prices if the government introduced further measures in the budget that increased costs for employers,The warning came as the supermarket chain released annual results showing sales increased slightly to £18,1bn last year while profits fell more than a fifth.
“The government need to consider very carefully any measures that might inadvertently add to operating costs as there is a risk they could find their way into the food sector,” said Hurley.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionThe German discounter said its decline in profits – from £552.9m to £435.5m – was in part due to the budget chain’s spending in price promotions and raising pay for staff, as well as an intensive store opening programme.Hurley said that Aldi spent £14bn with British suppliers last year – with more than 75% of sales coming from UK suppliers, manufacturers and producers – and called on the government to invest in the agriculture sector.
“We would also welcome investment in the British farming sector,” he said,“We know an investment in British agriculture can ensure our food sector is resilient and secure,So we don’t have to rely on what can be more volatile imports [that could ultimately impact prices in stores],”Aldi said it intended to invest a further £1,6bn in the UK to open 80 new stores over the next two years.
The retailer has 1,060 stores in the UK and Ireland, with plans to increase that to 1,500.The discounter is snapping at the heels of Britain’s third-biggest supermarket, Asda, with figures out earlier this year from analysts Kantar showing it was just one percentage point behind in terms of market share – 10.8% v 12.1%.Hurley said shoppers were “still finding things difficult”, which is why it was “laser focused” on keeping its prices low.
“We’re more determined than ever to meet that demand,” he said.“And that’s why we’re investing a record £1.6bn over the next two years, to bring Aldi prices closer to millions more customers.”
Hackers steal private data of Gucci, Balenciaga and McQueen customers
Hackers have stolen data from customers of the luxury fashion group Kering, whose brands include Gucci, Balenciaga and Alexander McQueen.Cyber-attackers have stolen data of potentially millions of customers, including the names, phone numbers and email addresses of customers of the fashion group, it has emerged.Paris-based Kering said the breach happened in June and that no financial information – such as bank account numbers, credit card information, or government-issued identification numbers – was taken.The attackers have been identified as a ransom-seeking group, Shiny Hunters.Kering said on Monday: “In June 2025, we identified that an unauthorised third party gained temporary access to our systems and accessed limited customer data from some of our [fashion] houses
Argos was a bad buy – but Sainsbury’s doesn’t need to sell at a silly price | Nils Pratley
The thinking behind Sainsbury’s £1bn-plus purchase of Argos back in 2016 wasn’t entirely other-worldly. The big idea was that, by putting Argos general merchandise shops within Sainsbury’s supermarkets, both chains would benefit via a customer crossover effect. But the problem was also screamingly obvious: why volunteer to step in front of Amazon’s non-food steamroller?Simon Roberts became chief executive of Sainsbury’s in 2020, replacing Mike Coupe, the architect of the Argos deal, and immediately indicated where he stood. His “food first” strategy wasn’t quite a declaration that he viewed Argos as inessential to the day job of competing with Tesco et al, but it wasn’t far off.Thus nobody was surprised by Sainsbury’s confirmation on Saturday that it was considering an approach for Argos from JD
What did Elon Musk say at far-right UK rally and did his remarks break the law?
Downing Street has condemned Elon Musk for using “dangerous and inflammatory” language at the nationalist protest organised by the far-right activist Tommy Robinson on Saturday. But will – or should – the X owner face any consequences?While he called for a “dissolution of parliament” and a “change of government”, the comments that attracted particular scrutiny were when he told the crowd: “This is a message to the reasonable centre, the people who ordinarily wouldn’t get involved in politics, who just want to live their lives. They don’t want that, they’re quiet, they just go about their business.“My message is to them: if this continues, that violence is going to come to you, you will have no choice. You’re in a fundamental situation here
US and China reach deal to transfer TikTok ownership, trade officials say
Jamieson Greer, a US trade representative, said on Monday that Washington and Beijing have struck a framework agreement on transferring TikTok to US-controlled ownership.Speaking after emerging from negotiations with Chinese officials, Scott Bessent said the deal was coming but declined to reveal the commercial terms.“We have a framework for a TikTok deal,” the treasury secretary told reporters after coming out of high-level talks in Madrid. “We’re not going to talk about the commercial terms of the deal. It’s between two private parties, but the commercial terms have been agreed upon
Berthoumieu banned for biting Wafer in blow to France before England clash
The France flanker Axelle Berthoumieu has been banned for biting the Ireland back-row Aoife Wafer in their Women’s Rugby World Cup quarter-final and will miss the semi-final against England on Saturday.France will also be without their captain, Manaé Feleu, as she has been banned for a high tackle during the game against Ireland. Both players are appealing against the sanctions.The pair were cited on Sunday evening and faced disciplinary panels on Monday. Berthoumieu was handed a 12-match ban which was reduced from 18, while Feleu was given a three-match ban which could be reduced to two if she completes the coaching intervention programme
England’s attacking philosophy shifts again with arrival of Lee Blackett
To say England have been through a few attack coaches in recent times is an understatement. The latest cab off the rank, Lee Blackett, is the 11th individual to take on the role in nine years but it may just be that the national team have found the ideal catalyst to enhance their chances at the next men’s Rugby World Cup in Australia in 2027.Blackett, 42, auditioned successfully for the job on this summer’s tour of Argentina and the US, where England scored 13 tries in three Tests, and has emerged as the big winner in Steve Borthwick’s latest cabinet reshuffle with Richard Wigglesworth switching to defence and Joe El-Abd helping out with the forwards.Fresh from helping to steer Bath to Premiership and Challenge Cup titles last season, Blackett has been recruited to add further zest to England’s attacking game, starting with their opening autumn series international against Australia on 1 November. With about 20 Tests between now and the next World Cup, England will be keen for him to hit the ground running
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