Retail news round-up: Sainsbury's boss urges suppliers to avoid price rises, Aldi launches low-cost hampers and John Lewis releases Christmas ad.
Sainsbury's boss urges suppliers to avoid passing price rises
Sainsbury chief executive Mike Coupe has warned its suppliers that they should avoid passing on higher prices to consumers, The Times reported.
He also said the grocer is doing all the things possible to mitigate inflationary cost and urged suppliers to do the same.
Coupe said: “I would encourage them to mitigate their own costs pressures they feel through their supply chain first [before seeking price rises].”
He made this request owing to the 10.1% fall in profits to £277m.
Aldi to launch its first low-cost luxury hampers
The prices of the basket gifts range from under £20 to nearly £100, which is lower than £55 to £6,000 range at Fortnum & Mason.
Aldi’s joint managing director of corporate buying, Tony Baines, said: 'With Christmas being a magical time of indulging loved ones with the finest foods, wines and gifts, amazing quality needn't cost a fortune.
“We believe that everyone should be able to afford the very best, which is why we simply refuse to be beaten on price, especially at Christmas.”
Fortnum's spokesperson said: “Imitation is of course the sincerest form of flattery but to be certain of time-honoured quality, it has to be a Fortnum's hamper.”
Aldi's cheapest premium range is Chocolate Lover's Hamper costing £19.94, which rivals Fortnum's Mini Huntsman Basket worth £55.
Yoox Net-a-Porter records hike in revenue
Yoox Net-a-Porter reported a 19% growth in revenues for the third quarter owing to the increased sales in US and Asia Pacific markets, Drapers online reported.
The online fashion retailer gained €435m (£382m) for the three months to 30 September.
There was an increase in number of average monthly visitor from 25.9 million to 27.5 million year on year.
There was also an increase in the number of orders received to 5.9 million compared with 5 million in 2015.
Chief executive of Yoox Net-a-Porter Group, Federico Marchetti, said business delivered “robust organic growth despite a challenging economic and political environment".
John Lewis releases Christmas ad
John Lewis unveiled a Christmas ad starring a family dog on a trampoline and wild animals, The Belfast Telegraph reported.
Customer director at John Lewis Craig Inglis said: "2016 has certainly been quite a year, so we hope our advert will make people smile. It really embraces a sense of fun and magic, reminding everyone what it feels like to give the perfect gift at Christmas.
"Each year we work with a charity which fits our ad, and we hope this year's campaign will encourage more children to discover a love of British wildlife and encourage support of The Wildlife Trusts."
The retailer has spent £6m on the campaign.