Iceland is increasing its staff discount over the coming week to reward colleagues for their work in the run up to the busy Christmas period.
Executive chairman Richard Walker announced via X, formerly known as Twitter, this morning that from Wednesday 22 to Monday 27 November, the staff discount would increase to 20%.
He added: “This is a thank you for all your hard work in the run up to Christmas.”
Icelanders! From Wednesday 22nd to Monday 27th your staff discount will increase to 20%. This is a thank you for all your hard work in the run up to Christmas 🙏🏻
— Richard Walker (@icelandrichard) November 20, 2023
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At the time, Walker said the move came as Iceland was “continuing to look for ways to help customers and colleagues as the cost-of-living crisis continues to take hold.”
Iceland revealed earlier this month that it would not be following other UK supermarkets in releasing a Christmas advert this year and will instead invest in supporting customers.
In a statement to Grocery Gazette, Walker said: “As a business we were faced with a decision. Do we spend millions creating and sharing a TV advert or do we invest the money supporting our customers during the cost-of-living crisis?
“This was a no brainer for us. I am grateful that as a family-run company, we can make the decisions we believe are right for our business and our customers.”
The investments in colleagues and customers come despite the retailer having made a £17.1m loss in the year to 24 March, as it suffered an ‘unprecedented’ £94m increase in its annual energy costs.
Its annual adjusted earnings before tax fell almost 17% from 2021 to £105.8m.