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 [...]
Marks and Spencer chairman rejects demand for reversal of company’s benefit cuts January 9, 2017 The chairman of high street stalwart Marks and Spencer has defended the company's decision to cut some of the benefits it offers to employees. Last year M&S staff were asked to sign new contracts ending benefits such as double pay for employees working on Sundays. MPs asked to meet M&S chief executive Steve Rowe to discuss the changes, [...]
Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]
City Moves for 4 January 2017 | Who’s switching jobs January 4, 2017 Tp bennett Tp bennett has appointed Stephen Masterson as director for business development and marketing. Stephen will support the practice in consolidating its position across the sectors and in exploring new opportunities in the UK and internationally. Stephen joins from Perkins+Will, where he led the London office’s marketing and business development for over eight years. [...]
FTSE 100 miners Fresnillo, Randgold Resources and Polymetal fall as gold prices slump to 10-month low December 15, 2016 Shares in FTSE 100 gold miners were battered this morning as prices of the yellow stuff fell to a 10-month low. A dollar rally pushed spot gold prices down 1.23 per cent to $1,128.85 an ounce this morning, after the US Federal Reserve yesterday raised US interest rates from 0.5 to 0.75 per cent and [...]
Consumers are going to spend a record amount on supermarket premium ranges this Christmas December 13, 2016 Consumers have been preparing to taste the difference this Christmas as they stock up on supermarkets' premium own label brands. Data from Kantar Worldpanel showed that during the three months to the end of 4 December, shoppers spent 13 per cent more on brands such as Tesco Finest and Asda Extra Special than they did the year before. Read more: These [...]
Brent crude oil breaks $57 a barrel as deal with non-Opec producers triggers five per cent rally December 12, 2016 Oil prices shed earlier gains this evening after rallying more than five per cent during the day, as markets digested a landmark pact between oil producing countries and cartel Opec. Global benchmark Brent crude briefly rose above $57 a barrel for the first time since July 2015 in morning trading. This evening it was trading up [...]
Ocado reports sales growth in final quarter December 8, 2016 Ocado has reported growth in sales and order numbers during the 16 weeks to 27 November, with year end sales up 15.1 per cent – but shares in the firm dropped almost four per cent at the market open. The grocery delivery service said group sales were up 14.5 per cent in the fourth quarter, from [...]
Byron Hamburgers to get new big cheese chairman in former Morrisons boss Dalton Philips and new chief exec December 7, 2016 There will be a new chair at the table at Byron Hamburgers this week, when former Wm Morrison boss Dalton Philips will be appointed chairman of the up-and-coming restaurant chain. The appointment could come as soon as tomorrow, Sky News reported. It will be Philips' biggest corporate role since leaving the supermarket at the beginning [...]