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 [...]
Just Eat reported order growth of 36 per cent for 2016, but shares dropped eight per cent January 10, 2017 Just Eat today announced like-for-like orders grew 36 per cent in 2016, but shares in the company fell up to eight per cent in early trading. The share price was down 5.66 per cent to 550p at the time of publishing. The company said group reported growth, which includes orders from recent acquisitions in Mexico and Australia, reached 42 [...]
Supermarkets are leading the FTSE 100 after Morrisons’ stellar results January 10, 2017 Supermarkets are leading the FTSE 100 risers today after positive data on the sector's sales over Christmas – and a strong update from Morrisons. Morrisons' share price was up 3.64 per cent at time of writing after the Bradford-based grocer reported a 2.9 per cent jump in like-for-like sales for the nine weeks to 1 [...]
Five ways your drinking habits will change in 2017: Majestic Wine sets its predictions for the year ahead January 10, 2017 Announcing a Christmas season that pushed sales up 15.3 per cent, booze retailer Majestic Wine took the opportunity to polish up its crystal ball and make industry predictions for the year ahead…. 1. We'll start choosing English sparkling wine over champagne In 2016 UK winemakers experienced an exceptional harvest thanks to perfectly timed weather patterns, leading the industry to believe this year's [...]
Playtech gambles on strong results as it hires a new finance boss January 10, 2017 Gambling software provider Playtech today announced full-year results for 2016 are likely to be in line with expectations, as it named Ron Hoffman the new chief executive of its financials division. Hoffman, formerly the company's chief financial officer, had played a role in the company's management and acquisition transactions and its listing on Aim in 2006. Read more: Playtech [...]
Morrisons reported strong Christmas trading numbers this morning – here are the best reactions January 10, 2017 Morrisons is having a lovely morning, with shares up four per cent on news that the supermarket's sales growth over the Christmas period was at its strongest for seven years. The group reported a 2.9 per cent jump in like-for-like sales excluding fuel, and said Morrisons.com had achieved its biggest ever week for sales in [...]
Majestic Wine feels the festive cheer as Christmas trading grows to record high January 10, 2017 A small downward revision in profit expectations was not enough to dampen the festive cheer for Majestic Wine, as the alcohol retailer announced sales during the vital Christmas period up year on year. Shares jumped by more than five per cent on Tuesday morning before paring to just below a three per cent gain at [...]