Sugar-free drinks sweeten results for Coca-Cola, but revenues lose their fizz October 30, 2018 Demand for sugar-free drinks helped push Coca-Cola to strong organic revenue figures, despite an overall drop in third-quarter sales. The figures The drinkmaker’s revenues declined nine per cent to $8.2bn (£6.4bn) as it refranchised its company-owned bottling plants. Organic revenues — which exclude impacts of mergers and acquisitions and currency fluctuations — meanwhile grew by six [...]
Nintendo second quarter profits hit eight-year high, but still miss expectations October 30, 2018 Nintendo failed to meet analysts' expectations despite reporting an eight-year profit high for its second-quarter profits today, thanks to sales of Switch consoles and games. The figures The Japanese gaming giant revealed that profits grew 30 per cent year-on-year to hit 30.9bn yen (£214.17m) between July and September. Yet analysts were underwhelmed after estimating profits to [...]
Tapestry beats estimates as Coach handbags lure in sales October 30, 2018 Luxury US fashion giant Tapestry beat Wall Street predictions in its first-quarter sales report this afternoon, amid rising demand for its flagship Coach handbag brand. Quarterly net income hit $122.3m (£95m), rising from a loss of $17.7m a year earlier, while first-quarter net sales jumped seven per cent to $1.38bn. Meanwhile, profits were slightly higher [...]
Under Armour hits the ground running amid higher-than-expected earnings October 30, 2018 US sportswear firm Under Armour trumped Wall Street expectations today after raising its forecast for annual profits and posting higher-than-expected revenues for the third quarter of 2018. Buoyed by higher overseas sales and fewer promotions, the Baltimore-based company has hiked its full-year adjusted earnings per share forecast to between 19 cents and 22 cents from [...]
Retail sales cool sharply as curtains close on prolonged summer boost October 30, 2018 Retailers suffered a sharp sales downturn in October, as the UK’s prolonged summer spending spree seems to have finally come to an end. The balance of retailers reporting year-on-year growth in sales volumes has slumped to its lowest level in six months, according to a survey out today from the Confederation of British Industry (CBI). Some [...]
Sony poised to hit record profits in wake of gaming strategy October 30, 2018 Japan’s Sony is projecting record annual profits after riding a wave of demand for several of its most popular recent big-hit games. The technology giant raised its profit forecast by 30 per cent to ¥870bn (£6bn) this morning, with a boom in its Playstation division helping to offset widening mobile phone losses. Such positive projections [...]
WH Smith to expand into US airports after £155m deal for accessories outlet In Motion October 30, 2018 WH Smith's share price rose over five per cent this morning on news it will expand its brand into US airports after buying American travel accessories outlet In Motion. The $198m (£155m) deal sees the British retailer take over 114 stores across some of the busiest airports in the US. It doubles the size of WH [...]
Ocado to develop 20 new US warehouses in first three years of deal with Kroger October 30, 2018 The terms of Ocado’s landmark deal with US supermarket chain Kroger were unveiled this morning, with the British online grocer set to operate 20 warehouses across the pond in its first three years of the agreement. Ocado's shares were up more than five per cent in early morning trading. Kroger is set to order 20 warehouses, [...]
Eat it up: Chiquito owner’s share price sinks as it confirms £559m Wagamama takeover October 30, 2018 Frankie & Benny's owner The Restaurant Group (TRG) saw its shares crash by almost 18 per cent in early trading today, as it launched a takeover approach for Wagamama. TRG has agreed to buy the holding company behind the pan-Asian restaurant chain, Mabel Topco, for a cash sum of £357m, saying it represents an enterprise [...]
Sweet deal: Confectionery firm Mondelez beats profit estimates October 29, 2018 Food and beverage giant Mondelez reported earnings for its third quarter that performed above expectations late last night, despite falling revenue. The US-based owner of well-known brands such as Oreo, Toblerone and Belvita said it earned $1.2bn (£937.6m) in the three months to September, compared to $981m in the same period in 2017. Revenue fell [...]