Tesco share price falls despite sales rise in third trading quarter as investors focus on weaker Christmas trading January 12, 2017 Tesco's share price fell despite the supermarket giant reporting its first quarterly market share growth since 2011, as sales grew for the eighth quarter in a row. The figures Group like-for-like sales grew 1.5 per cent in its third trading quarter, with UK like-for-like sales growing even faster, at 1.8 per cent. The supermarket said it [...]
Forget the sugar tax, #DontTaxHealthy wants to incentivise healthy food by cutting VAT to 5 per cent January 12, 2017 A new group wants to decrease the cost of obesity on the UK economy by cutting VAT on healthy options instead of punishing consumers with a "sugar tax". In the UK, 40 per cent of 18-34 year olds and 30 per cent of all ages said they can't afford to purchase healthy food and drink because it's more expensive than other products, YouGov [...]
Imperial Brands lights up a joint venture deal with China Tobacco to expand into the world’s number one cigarette market January 11, 2017 Imperial Brands has made a move on the world’s largest cigarette market through a joint venture with state-owned China National Tobacco (CNTC). Shares in Imperial, the world’s fourth-largest tobacco company, shot up more than three per cent after the announcement, before closing up 0.95 per cent to 3,626.50p. CNTC has a hold on more than [...]
Shoe Zone’s sales slip January 11, 2017 Budget shoe retailer Shoe Zone reported a drop in revenues this morning after a period of shutting down its loss-making stores. In its full-year results – covering the year to 1 October 2016 – Shoe Zone said its revenues fell 4.2 per cent to £159.8m from £166.8m the year before. Profits were relatively flat, increasing [...]
Cutting the beer duty in the March budget will inspire investment and protect jobs during uncertain times January 11, 2017 The British Beer and Pub Association (BBPA) has called on the government to cut the beer duty to encourage investment, protect jobs and improve confidence in the sector. Beer duty was frozen in the last Autumn Statement, but the BBPA said the industry is struggling: the UK's beer duty is higher than those in other European countries. Now, the BBPA has released [...]
A London-based restaurant said it’s banning avocado to give other superfoods a chance January 11, 2017 In 2016, the avocado was far and away Britain's fastest-growing food or drink item, clinching nearly £50m in sales, according to research firm Neilsen's annual supermarket analysis. Now, one London restaurant that thinks the humble fruit is overrated has taken action with a zero avocado policy. In a statement, Firedog, an Aegean-inspired restaurant and bar has said, "Avocado isn't [...]
A Merry Lidl Christmas: Lidl doubles Prosecco sales in record Christmas trading January 11, 2017 Lidl has bagged its best ever Christmas sales figures as it doubled its Prosecco sales in December. The discount grocer celebrated a 10 per cent sales increase year-on-year in December, but shoppers weren't just reaching for the booze – sales of carrots parsnips, Brussel sprouts and potatoes jumped 60 per cent. Turkey sales increased by 40 per [...]
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. [...]