Strong dollar starts to bite on Mondelez sales outside of the US as revenue falls 8.1 per cent February 7, 2017 Mondelez International, the maker of Oreos and Cadbury chocolate, reported a slump in holiday-quarter sales and profit due to a strong dollar. The figures Net revenue fell 8.1 per cent to $6.77bn in the quarter. Analysts on average had expected revenue of $6.89bn, according to Thomson Reuters estimates. The strong pound hit the value of [...]
Back on track? Toymaker Hornby’s sales in line with expectations as shares rise February 7, 2017 Shares in Hornby steamed ahead by as much as 24 per cent in early trading as it said that full year revenues are on track to be in line with expectations. In a trading update, Hornby said: “As previously announced, revenue is expected to decline by around 20-25 per cent this financial year due to [...]
Playtech bets £50m on bingo specialist Eyecon as it looks to bolster content February 7, 2017 Software and services supplier to the gambling industry, Playtech, has purchased Eyecon, an online gaming slots software company, for £50m, including £25m in cash. This represents eight times Eyecon’s current earnings. The addition of Eyecon’s content portfolio is an attempt by Playtech to boost its capacity to provide more content to its customers. Eyecon has [...]
Brits splash out more on whisky than rest of Europe, says Scotch Whisky Association February 7, 2017 The UK is the most expensive place to buy a dram of whisky anywhere in Europe, the Scotch Whisky Association (SWA), has highlighted today. Over one quarter of all the tax on spirits collected in Europe is paid for by Britons due to a domestic tax level, which is higher than the European average. The [...]
Family finance jitters send consumer confidence slumping to three-year low February 7, 2017 Consumer confidence has suffered the biggest single drop in a month, according to a survey released by Moneysupermarket today. According to monthly data collected by the price comparison website, its Consumer Confidence Index, currently stands at 41.63, a drop of over 15 points for February compared to January 2017, and the single biggest monthly drop [...]
Virgin Active offloads 16 fitness clubs to David Lloyd Leisure February 7, 2017 Virgin Active, the eponymous gym chain, has offloaded 16 of its clubs in the UK to David Lloyd Leisure for an undisclosed sum. The fitness firm will continue to operate 45 clubs in the UK, 33 of which are in London. Last year, Virgin Active sold a further 35 UK gyms to Nuffield Health, a [...]
New Look suffers “disappointing” sales drop during crucial Christmas shopping period February 7, 2017 New Look did not have a very merry Christmas, failing to bag a sales boost during the most important period of the year for retailers. The figures New Look said group like-for-like sales fell 4.6 per cent in the 13 weeks to 24 December, with sales in the UK down 4.7 per cent on the same [...]
Aldi just became the UK’s fifth largest grocer February 7, 2017 Aldi has become the UK's fifth largest grocer by market share, overtaking the Co-op. According to data from Kantar Worldpanel, Aldi grew its sales by 12.4 per cent in the 12 weeks ending 29 January. Its share of the market now stands at 6.2 per cent. Read more: A Lidl competition: Aldi becomes the highest-paying supermarket in the UK [...]
UK retail sales fell in January in a reversal of fortunes for the sector February 7, 2017 UK retail sales fell in January as shoppers curbed spending on non-food items. On a like-for-like basis, retail sales fell 0.6 per cent in January as compared to the same month a year before, reversing a sales rise of one per cent in December. Total sales rose just 0.1 per cent, against a 3.3 per [...]
Spending on essentials has hit record highs February 7, 2017 Spending on essential goods such as food and fuel has reached record highs as inflation has started to hit the UK consumer's wallet. There was a 15.3 per cent jump in petrol spending year-on-year in January, according to Barclaycard, and a 2.9 per cent hike in supermarket expenditure. This was coupled with a 3.4 per cent [...]