Cineworld announces a blockbuster year in 2016 as consumers look for entertainment in spite of weak pound January 11, 2017 The force was with Cineworld this year as top-performing films like Star Wars: Rogue One and Fantastic Beasts and Where to Find Them boosted admissions to break the 100m milestone. The cinema operator reported revenue growth of 8.3 per cent on a constant currency basis and said it is in line with current market expectations. Retail sales boomed, [...]
Ted Baker boosts sales against a “tough trading backdrop” January 11, 2017 Ted Baker's share price climbed 2.79 per cent this morning after the luxury brand reported an 18 per cent jump in sales over the festive trading period. Like many retailers, a large chunk of Ted Baker's sales were made online this year. Online sales jumped 35 per cent year-on-year in the eight weeks between 13 [...]
Sainsbury’s shares surged this morning on news of sales growth over Christmas – here’s how retail experts reacted January 11, 2017 Sainsbury's shares have surged by six per cent this morning after it reported a record Christmas week for trading. The supermarket said like-for-like retail sales went up 0.1 per cent in the third quarter, and while this might not be as impressive as Morrisons' 2.9 per cent growth, reported yesterday, investors were still cheered by the update. [...]
Italy’s Ferrero defends its use of palm oil after a European group said it could cause cancer January 11, 2017 Nutella maker Ferrero has spoken out in support of the palm oil industry after a European agency said the ingredient poses a cancer risk. The Italian chocolate makers launched an advertising campaign to defend their use of the oil, which others in Italy are boycotting, Reuters reported. Using substitutes like sunflower oil would change the character of the hazelnut [...]
House of Fraser cashes in on Christmas sales January 11, 2017 House of Fraser capitalised on the Black Friday and Boxing Day week sales in November and December, boosting its like-for-like sales by 2.7 per cent in the festive period. The department store said that during its six-day Black Friday sales event, total sales increased 2.7 per cent on the same period the year before. Unsurprisingly, a hefty [...]
Sainsbury’s reports £1bn group sales over Christmas week as sales edge up January 11, 2017 Sainsbury’s enjoyed a record Christmas week with over £1bn in sales across the group, with quarterly sales managing to edge up after analysts expected further contraction. The figures Like-for-like retail sales excluding fuel grew by 0.1 per cent over the third quarter of its trading year, and total retail sales grew by 0.8 per cent [...]
Food suppliers squeezed as supermarkets play hardball in Brexit price talks January 10, 2017 Food suppliers are being squeezed as supermarkets play hardball in talks over which side should shoulder the burden for the devaluation of the pound, new figures suggest. Research from insolvency firm Begbies Traynor shows 6,000 food suppliers were showing signs of financial distress in the final quarter of 2016, an increase of 13 per cent [...]
Chipotle’s sales disappoint analysts despite a rise in revenue January 10, 2017 Chipotle Mexican Grill's preliminary fourth quarter figures show sales are up, but its results will be lower than expected. Sales revenue is anticipated to be $1.035bn (£849.7m), up from $997.5m the previous year, but below analyst estimates of $1.05bn. The US-based Mexican food chain said comparable restaurant sales, or those that have been open for at least [...]
Grand Union shake-up: London bar owners appoint advisers for sale January 10, 2017 The owners of trendy London bar chain Grand Union have appointed advisers as they seek to sell the business. Leisure property specialist Coffer Corporate Leisure has been taken on to handle the sale of Grand Union, City A.M. has learned. Read more: Craft beer may have just met its match The chain, which specialises in [...]
Nichols’ sales are fizzing up 6.9 per cent in the UK, compared to growth across the market of just 0.8 per cent January 10, 2017 Drink maker Nichols reported its sales are growing faster than those of the UK's overall soft drinks market due to Vimto's strong performance and a new acquisition. Sales in the UK increased by 6.9 per cent against the previous year to £90.7m. That was driven by sales of Vimto, which were up five per cent on the prior [...]