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 [...]
Supermarkets had a record Christmas – but prices are rising January 10, 2017 Supermarkets had a record Christmas period in 2016, with sales growing at their fastest rate since June 2014, but prices are finally starting to rise following the Brexit vote. The latest figures from Kantar Woldpanel show that sales were up 1.8 per cent for the 12 weeks ending 1 January. Consumers spent nearly half a billion pounds [...]
It was a very merry Christmas for Morrisons with sales up 2.9 per cent January 10, 2017 Morrisons today revealed that sales in the nine weeks to 1 January were the strongest the supermarket has seen for seven years – and it's raised its expectations for full year profits. The group's shares jumped 4.5 per cent at the open. The group reported a 2.9 per cent jump in like-for-like sales excluding fuel – with [...]
Boohoo sets the online shopping trend to start the New Year January 10, 2017 Boohoo.com has ended 2016 on a high and looks set to continue the form into the New Year, with the online clothing retailer reporting strong increases in revenues and raising its revenue guidance for the start of this year. The figures Revenues grew 55 per cent, with growth in America particularly impressive: US revenues increased by [...]
Consumers wasted a whopping £13bn of edible food in 2015 January 10, 2017 Consumers threw out £13bn – 7.3m tonnes – worth of perfectly edible food in 2015. That generated 19m tonnes of carbon emissions, equivalent to those generated by one in four cars on UK roads, according to food waste reduction charity Wrap. However, 60 per cent of us believe we waste either no food or hardly any. Wrap has built off its work with [...]
Consumer spending cooled in December after post-Brexit spending spree January 10, 2017 Consumer spending cooled towards the end of 2016, pointing to a slowdown in Britain's spending spree following the Brexit vote. In October and November, consumer spending growth hit 5.5 per cent and 5.1 per cent respectively, according to Barclaycard. But this figure fell to four per cent growth year-on-year in December. Read more: Aldi bags [...]
UK retail scores “solid yet unspectacular” end to 2016 January 10, 2017 Retailers are bracing themselves for a possible slowdown in consumer spending this year, but the sector ended 2016 in (relatively) good health, thanks to a strong performance on Christmas week. Like-for-like sales in UK retail increased one per cent year-on-year in December 2016, according to figures from the British Retail Consortium (BRC) and KPMG, improving from a [...]
Manufacturing giant Premier Foods to increase prices due to Brexit vote January 10, 2017 Premier Foods, the supplier of iconic brands such as Mr Kipling cakes and Bisto gravy, is in talks with its major retail customers about lifting prices due to a double whammy of weaker sterling and higher commodity costs. City A.M. can reveal that the listed food manufacturer last month opened discussions with the likes of [...]