BUSINESS EXTRA

Vegan beef

US vegan burger sales fell by approximately a third as Beyond Meat reduced its revenue forecast in a trend also noticed in the UK. After several years of brisk expansion boosted by private equity investment, meat substitutes have disappeared from many UK menus, with sales falling by 6 per cent last year.

Working week

ALMOST three ­ quarters of Spanish firms said the four­day week was “out of touch with reality.” A survey by human resources consultancy Adecco found that although companies had successfully adopted the 32­hour week, 73.5 per cent doubted its viability, while 60 per cent of the self­employed questioned the initiative.

Summer washout

UK retailers have slashed prices to tempt buyers as a cheerless summer and steadily­increasing interest rates discouraged consumer spending in July. Reports from the British Retail Consortium, consultants KPMG and Barclays noted that spending rose slightly in early July but fell once 7.9 per cent inflation entered the equation.

Yoghurt slump

DANONE registered a €10.8 million profit in 2022, 36.8 per cent less than in 2021 despite turnover of €768.9 million, a 9.6 per cent increase on 2021. The company attributed the dropoff to its Local First restructuring project that has given increased autonomy to each country’s Danone subdivision.

Home and dry

FASHION chain Superdry has secured fresh funding with restructuring and refinancing specialist Silco lending the clothing company £25 million (€28.98 million). The deal will provide Superdry with “improved liquidity to help accelerate a turnaround plan and cost­reduction programme”, a spokesperson said.

STAT OF WEEK €1.99 billion

turnover for La Liga, Spain’s top professional football division in 2022, 2.5 per cent more than the previous year, putting it in the black after three years of losses.