Louis Vuitton and Moet & Chandon owner reveals 2016 was a vintage year January 26, 2017 While last year might not have been everyone's favourite 12 months, luxury brand owner LVMH revealed "an excellent performance in 2016", posting solid revenue and cashflow growth. The owner of a variety of posh labels including Louis Vuitton and Christian Dior said organic revenue growth during 2016 was six per cent with sales totalling €37.6bn (£31.9m). Read [...]
French Connection boss signals two non-executive directors will step down January 26, 2017 The boss of French Connection has signalled two non-executive directors will be stepping down from the board after an intervention by a group of activist investors. Three investors wrote to French Connection's chief executive and chairman Stephen Marks last Thursday to demand non-executive directors Dean Murray and Claire Kent leave the board after presiding over "a tremendous decline [...]
Analysts react to Unilever’s drop in revenues January 26, 2017 Unilever's shares are set for their worst day of trading in the last five years, having fallen four per cent this morning. Investors are reacting to the food manufacturing giant's fourth-quarter and final year results, which missed expectations. Revenue fell one per cent for 2016, and Unilever also warned that it would be facing "tough market conditions" [...]
Shares in Diageo are up as the global drinks maker beats forecasts January 26, 2017 Diageo, the maker of Smirnoff, Guinness and Johnnie Walker, beat expectations for the six months ended 31 December after years of stagnant growth. The figures The drinks giant said reported net sales were up 14.5 per cent at £6.4bn, while operating profit rose 28 per cent at £2.1bn, reflecting organic growth and favourable exchange rates. Diageo experienced organic growth across all [...]
Whitbread’s restaurant sales disappoint investors January 26, 2017 Hotel and coffee shop owner Whitbread – known for its Costa Coffee and Premier Inn brands – has posted some strong sales growth this morning, but its restaurant business has disappointed the market. Whitbread's share price was down four per cent at time of writing. The figures Over the 13 weeks to 1 December, Whitbread's like-for-like [...]
Unilever braced for tough market conditions to continue in 2017 as it reveals subdued sales January 26, 2017 Unilever is keen to remind everyone it is – and has been for a while now – battling challenging market conditions. The food manufacturing giant has reported lower than expected sales in the fourth quarter and is braced for these "tough market conditions" to continue, at least for the start of 2017. Brazil's economic slowdown [...]
Retailers slash 84,000 jobs amid storm of rising costs and fierce competition January 26, 2017 Retailer shed an estimated 84,000 jobs in the final quarter of 2016 as the industry heads for what could be a “more profound” shake-out than it experienced after the financial crisis. New figures from the British Retail Consortium (BRC) show the number of jobs in the sector fell three per cent year-on-year in the final [...]
This is how much disposable income the UK had in December January 25, 2017 UK households celebrated a rise in disposable incomes in December last year – but it is thought spending on non-essentials will slow in 2017 as inflation starts to bite. Families had an average £202 of disposable income in December 2016, a rise of 4.4 per cent (or £8.57) on the same month a year before, [...]
Unilever’s sales expected to unveil sagging European sales tomorrow January 25, 2017 Food manufacturing giant Unilever is forecast to post an increase in global sales and profit when it reports its full-year results tomorrow, but analysts expect the company to reveal sagging growth in Europe. Bernstein analysts expect profit before tax to come in at €7.58bn (£6.46bn), up from €7.22bn last year. They have forecast net sales of €52.98bn, with organic sales growing [...]
Scotch whisky contributes £5bn to UK economy January 25, 2017 The UK’s burgeoning scotch industry supports around 40,000 jobs in the country and exports £4bn in goods every year. New figures from the Scotch Whisky Association suggests that the UK’s trade deficit, which current stands at £115bn, would be 3 per cent larger, without the contribution from scotch. The association gave the scotch industry a positive [...]