Luxury group Ferragamo posts H1 loss, launches action plan
Sales at constant exchange rates in the first six months of the year fell by 7.1% to 474 million euros, mainly dragged down by the wholesale channel and by weak consumer demand in the Asia Pacific region, the company said.
($1 = 0.8738 euros)
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Reuters
9 minutes ago
- Reuters
OPEC+ agrees in principle to raise oil output by 548,000 bpd in Sept, sources say
LONDON, Aug 3 (Reuters) - OPEC+ has agreed in principle to boost oil output by 548,000 barrels per day in September, two OPEC+ sources familiar with the discussions said.
The Sun
9 minutes ago
- The Sun
The best supermarket bakery revealed – it beats Greggs on both price and taste
THERE is nothing like tucking into a loaf of freshly baked bread or croissants straight out of the oven. Demand for fresh bakery goods has been growing among shoppers as households delight in little indulgences. Greggs has become the nation's go to bakery for a treat for many shoppers. But supermarket offering rival the chain in both taste and price. We decided to put four products to the test from each of the bakeries and assess based on taste and value to give an overall score. From each, I tried to buy one jam doughnut, one croissant, one white bread roll, and one small white baguette. We look at the innovative products, plus value for money that supermarkets are offering customers. Here are how the supermarket bakeries stand up. Greggs Doughnut, £1.05 Croissant, £1.35 9 Although not a supermarket, Greggs is the heavy-weight high street bakery. Earlier this year, the business said sales grew by 7% to more than £1billion for the half-year with new stores continually opening. As well as lunch-time favourites such as sausage rolls and sandwiches the chain sells all the bakery staples. Plain rolls and baguettes are not on the standard menu. We found the doughnut was lacking a little in sugar dusting and wasn't evenly spread. At £1.35 for a single it's far more expensive than the supermarket options, which start at 26p. You don't select your own doughnuts, and the one given to me was slightly damaged on top, plus it tasted very bread-like. I also found the jam lacking in flavour and tasted quite artificial. One of my least favourites out of the test. The bakery sells croissants but only until 11am, and as I arrived after, I missed out. Asda Doughnuts, £1.38 for a pack of five, 27p each Croissant, £1.06 for a pack of two, 53p each Baguette, £1.34 9 The supermarket has been rolling out single serve fixtures to in-store bakeries. There are 23 items to choose from including all the bakery favourites you'd expect to find, such as cinnamon buns and cheese twist. Items are not baked in-store and instead delivered each day. The supermarket is an affordable option for shoppers beating discounter Lidl on price on selected staples including croissants priced at 53p. There was only a bigger sized baguette available to buy - but it was crusty and very fresh. However, the croissant was not flaky enough. And the doughnuts were tasty but a little sticky for my liking. There weren't any fresh white rolls available to buy on the day. Lidl Doughnut, 49p Croissant, 59p Bread roll, 29p Baguette, 39p Lidl has overtaken Tesco in terms of market share, according to recent data. The supermarket is also most popular among shoppers going by online searches which consistently beat the competition. New bakery items are regularly added. Most recently, the supermarket had a viral hit with its new birthday cake bun for 79p. The caramel suisse is another recent addition to the supermarket's offering that has won over fans. Earlier this year, the supermarket cut the price on 11 bakery items and now sells its croissants for a palatable 59p and crusty white rolls for 29p each. The supermarket delivers a winning combination of great value, innovative new products and tasty treats. The croissant was tasty but seemed as though it had been in the oven a minute or two too long, as was slightly more browned than i would have liked. The baguette was narrow so not much soft bready part inside. I would have preferred it a little more crusty on the outside. The doughnut was powdered sugar but I think a granulated sugar works better. Plus, they were a little stingy with the jam on the inside. The roll was tasty and chewy on the outside with a soft middle. Morrisons Croissants, 50p Bread roll, 50p Baguette, 80p Morrisons says it's the only major UK supermarket where bread, rolls, and doughnuts are made from scratch in more than 400 of its supermarkets every day. This is on top of pastries and cookies and hand-filled cream cakes and also offers 27 varieties of freshly baked bread. Given the supermarket pride in its in-store bakeries, I was frankly a little disappointed. There were no jam doughnuts in the store I visited, which appeared to be related to a problem with machinery, so couldn't include them in the test. The baguette was a good size and tasted reasonably fresh but not like it had come out of the oven that morning. The croissant was on the smaller side and soft on the outside. And the roll was definitely going tougher and quite hard on the outside, and I didn't like the taste either. Sainsbury's Doughnuts, £1.30 for a pack of five, 26p each Croissant, £1.20 Bread roll, 50p Baguette, 60p 9 Sainsbury's has pulled back from baking all items in-store from scratch, finishing off selected items instead. The supermarket offers a good selection of products from everyday loaves to cookies, muffins and cake slices. It also regularly refreshes its offering and has recently introduced an 'Under the Sea gingerbread man, £1, as well as rainbow cookies, £1.50, and a giraffe baton, 80p. The crusty roll was excellent and tasted very fresh. The croissant was a touch on the expensive side, but it was perfectly crisp and flaky on the outside well-sized, and soft and moist on the inside. Definitely the winning croissant, for me. The baguette was slim but tasty. The doughnuts were also a winner with a good amount of zingy jam and plenty of granulated sugar. Although you have to buy a five-pack of doughnuts, they work out at reasonable 26p each - cheaper than Lidl. Overall lip-smackingly good and generally well priced too. My go-to bakery choice for future. Tesco Doughnuts, £1.30 for a pack of five, 26p each Croissant, £1.20 Bread roll, 80p Baguette, 80p 9 Selected Tesco bakeries bake items from scratch though the majority of bakeries "finish" items in-store. It's not the cheapest for staples, but it matches rival Sainbury's on the croissant and doughnuts. The supermarket was my favourite croissant, crunchy flaky and perfectly cooked, it tasted really fresh. I was also happy with the freshness of the roll and baguette and both were a good size. The doughnut was a little sticky on the outside but very soft dough, almost melt in the mouth and plenty of jam. Value: 3 Taste: 4 Overall score: 7 Waitrose Croissants, £1.30 Bread roll, 50p Baguette, 85p Waitrose has bakeries in supermarkets across the country. With nearly 80 options to choose from, the brand said customers are currently loving sourdough loaves. Sadly, there were no jam doughnuts in store that day. A member of staff informed me they'd not been able to order the bags for packaging. However, the croissant was crumbly on the outside and tasted good with a rich buttery flavour. The baguette was perfectly fine albeit slightly soft on the outside. The roll was very good soft and chewy on the outside and tasted fresh. However, it was the most expensive out of all the croissants. The produce was a good middling choice but nothing really stood out. Marks & Spencer Doughnuts, £1.10 for a pack of four, 27p each Croissant, £1.25 Baguette, 80p 9 You'll find up to 110 products in M&S in-store bakeries. There are 600 across the country. Like most supermarkets, M&S hand finishes the goods in store rather than baking from scratch. The baguette was nice and thick, and tasted lovely and fresh with a soft white inside. The doughnuts were the smallest sized out of all the supermarkets but were very tasty. There was plenty of sugar and jam, plus I liked that the dough itself had a slightly crisp outside while being fluffy on the inside. The croissant was tasty as well as being soft flaky and a decent size. How to save on your supermarket shop THERE are plenty of ways to save on your grocery shop. You can look out for yellow or red stickers on products, which show when they've been reduced. If the food is fresh, you'll have to eat it quickly or freeze it for another time. Making a list should also save you money, as you'll be less likely to make any rash purchases when you get to the supermarket. Going own brand can be one easy way to save hundreds of pounds a year on your food bills too. This means ditching "finest" or "luxury" products and instead going for "own" or value" type of lines. Plenty of supermarkets run wonky veg and fruit schemes where you can get cheap prices if they're misshapen or imperfect. For example, Lidl runs its Waste Not scheme, offering boxes of 5kg of fruit and vegetables for just £1.50. If you're on a low income and a parent, you may be able to get up to £442 a year in Healthy Start vouchers to use at the supermarket too. Plus, many councils offer supermarket vouchers as part of the Household Support Fund.
Daily Mail
39 minutes ago
- Daily Mail
Quiet retirement beach town becomes luxury haven... and it started with Whole Foods
Florida 's Pompano Beach used to be a quiet retirement community, devoid of the bustle and the glamor of southern neighbors, Miami and Fort Lauderdale. That was ten years ago. But then Whole Foods arrived, suggesting the area's fortunes were about to improve markedly. And since the pandemic, the area has exploded with new residents. The buyers are flocking to the enclave not only for the sprawling beaches and crystal clear waters, but to buy into one of Pompano's 'branded' residences. Big names such as The W, Ritz-Carlton, and Waldorf Astoria, have opened, or intending to open, premiere branded residences in the area, an idea that was completely unheard of just 10 years ago. Braded residences are billed as 'luxury for less', combining the convenience of five-star hotel amenities with design-driven style and usually beachfront access. Isaac Toledano, the founder of the BH Group, told the Daily Mail: 'If you told someone 10 years ago [there would be branded residences] they'd probably think you were crazy.' His Southern Florida development company built the W Pompano Beach Hotel and Residences, one of the most notable changes at the forefront of the evolving city. A spec of the Ritz-Carlton Residences on Pompano Beach is seen above He said as places like Miami and Fort Lauderdale got more and more crowded, moving north to start developing was the obvious choice. 'The next natural area was Pompano Beach. The city is doing a magnificent job at improving the city and infrastructure.' Pompano Beach sits an hour or so north of Miami and just 30 minutes north of Fort Lauderdale. Its crystal clear waters, sprawling beaches, and proximity to the Intracoastal Waterway and Atlantic Ocean make it an attractive location. Realtor and Pompano Beach native Roxanne Hall said she knew people were catching on to the city's appeal when the first Whole Foods opened there. 'Pompano has been considered a sleepy retiree town for many years. I'd say about 10 or 11 years ago we got a Whole Foods. 'When Whole Foods comes to town it knows what it's doing. It does its market research.' She said in the years that followed people from all over North America began slowly but surely trickling into Pompano Beach. However, statistics show that the population has been growing steadily since 2000 when the 25 square-mile city boasted 70,000 residents. In 2023, 113,000 people called it home. But Hall said that the growth has come with difficulties. She explained that during the Covid pandemic the real estate market in the area was a disaster. 'We saw a huge influx. 'I mean it was a nightmare. People were overbidding, we couldn't find homes for everyone and my buyers were crying. Everything was going for a lot of money.' Buyers can get more bang for their buck than they would in Miami or Fort Lauderdale and the area also has far more space on its beaches for beachfront properties. 'You go south, you're getting massive congestion and much higher prices,' said Hall. 'The price point in Pompano was very desirable.' David Marder, an agent in South Florida, Fort Lauderdale, told Mansion Global that buyers pay around $2,000 per square foot for luxury developments. In Pompano Beach, it would be between $1,200 and $1,500 for the same development. Nowadays, luxury is the name of the game in Pompano. 'There's tons of them,' said Hall of branded luxury developments. 'So the appeal is that you buy branded luxury and you protect your purchase. Branded luxuries are there, they're beautiful. 'I mean you don't have to fix anything. There's no assessment so we see a lot of desire for our ultra luxury.' Toledano said when people are investing in these luxury properties they're being sold a brand, and all of the amenities that come with it. The brand recognition of a company that people already know and trust and the luxury of 24/7 hotel living are attractive to buyers, especially when they can get it for around the same price point. 'People want to be affiliated with a brand,' he said. 'They want to make sure that you will deliver a quality product.' And brand recognition is the best way to deliver the amenities and luxury that buyers want to see. Realtor Roxanne Hall, said its difficult to buy or sell a desirable home for less than $700,000. This 3 Bed 2 Bath home is listed with Pompano Beach Realty for $1.5 million Spaces like the W Residences offer award-winning dining, sprawling pool decks, fitness centers, and a concierge on call whenever residents need them. Hall said it's hard to get a desirable single family condo in the area for less than $700,000. Nearby Miami has been at the epicenter of a condo crisis after the 2021 collapse of a condo building in Surfside led to a new law that requires condo buildings to undergo structural inspections and shore up reserves. This has meant that many HOAs have been hiking fees and doling out hefty special assessments to comply with the new rules, which has reduced demand for condos. 'People are staying away from condos that are 40 years or older. They really want 10 years or less and there's only a handful of those,' Hall said. Most people are hoping for one or two bedrooms with a pool or easy beach and water access. Florida in general may be known for Snowbirds and retirees but Hall said buyers and people looking to move there are gradually getting younger. 'You go to a restaurant here and it's the 50s and 60s crowd and the 20s and 30s altogether. It's a real mix,' she said. Toledano said that despite the rapid growth, the city seems to be keeping up. 'Pompano Beach has a lot of places for growth,' he said. Many old buildings and developments are being swapped out for new ones and Pompano Beach has even spent $2 billion on public green spaces, piers, shopping, dining, and walkable streets. A local herself, Hall said natives are open to the changes. 'Pompano Beach is a wonderful town. It's three miles of sandy beaches. We have 18 wreck sites for diving. We have this beautiful pier that they just renovated with new restaurants. 'It's a water town. It's for boating. It's for beach lovers.'
