Tomorrow's Business Today
Time for supermarket bosses to speak out
TEN years ago our supermarket bosses were part of the national picture, distinguishable characters who reflected the companies they ran.
At Tesco Sir Terry Leahy growled at the idiots in the press and in the City who didn’t get he was cleverer than them. He was (nearly) always right in the end.
At Morrisons, Sir Ken Morrison played the part of the gruff Yorkshireman to perfection.
Posh types (anyone not from Bradford) didn’t know we were born.
At Sainsbury’s the ebullient Justin King was a brilliant retailer. You only had to ask him, he’d tell you.
Waitrose’s Mark Price was The Chubby Grocer, a jolly fellow who thought food should be enjoyed, even if the best stuff cost a bit more.
They were all often on the tele, in fierce competition with each other, as they went about the business of feeding us better and for less.
The present bunch are camera shy. Ken Murphy of Tesco has done Sky once, and nothing since, I think.
Simon Roberts of Sainsbury’s has done some TV with result statements but that’s pretty much it, despite being in the job for 18 months. The Issas have given a single newspaper interview since buying Asda. David Potts of Morrisons? Who he?
Aldi & Lidl never spoke much anyway, and Waitrose is quiet these days. That leaves Richard Walker of Iceland, who to his credit speaks out.
The pity of this is that they all have a good story to tell.
At the start of the Covid crisis there was a real fear the UK would run out of food. It didn’t.
The supermarkets were excellent, their staff among the national heroes of the hour.
Back then, Morrisons led the way, putting “the assets of the company at the disposal of the nation”.
Now there is a cost-of-living crisis. The supermarket bosses must have ideas how best to deal with this.
Must be bursting with frustrations and suggestions. They should tell us. On the news.
Press release of the day
Eight out of 10 Brits are stressed about their finances says this from Employment Hero.
That’s not that surprising a statistic, but presumably it is only going to get worse.
Ben Thompson, CEO and co-founder of Employment Hero, said:
“Over the past 12 months, employees have been questioning the type of work they’re doing and how their salaries match their expectations. Employers are under more pressure to retain their staff and ensure that they are prioritising their mental health and overall wellbeing, this includes financial wellbeing too.”
Stories that will keep rolling
1) Are cryptos, bitcoin aside, now more or less over as credible alternative currencies?
2) Could Musk’s Twitter bid be derailed by watchdogs?
3) In a year’s time, will these look like the good old days?
4) How might Sage software help with the cost of living crisis?