Morrisons is feeling pretty chill about #Marmitegate, saying price rises will be “minimal” March 9, 2017 The chairman of Morrisons supermarket has reassured shoppers that he will be minimising any price rises on groceries following the Brexit vote. The price of a grocery basket became a source of controversy last year when Unilever demanded higher prices from supermarkets, but Tesco refused – leading to a stand-off that became known as #Marmitegate. But [...]
Morrisons (MRW) share price fell this morning after it reported strong profit and sales growth – here’s how City analysts have reacted March 9, 2017 Shares in Morrisons dipped by 4.6 per cent at the open, after the supermarket reported annual profit and sales growth for the first time in four years this morning. Turnover was up 1.2 per cent to £16.3bn, while profit before tax rose by 49.8 per cent, to £325m, signalling that chief executive David Potts' turnaround is [...]
Morrisons (MRW) share price dips at the open after it reports annual profits and sales growth for first time since 2012 March 9, 2017 Morrisons has reported a 50 per cent increase in profit for the year to 29 January, with turnover and earnings growing despite store closures. The figures Turnover was up 1.2 per cent to £16.3bn, from £16.1bn the year before. Profit before tax rose by 49.8 per cent, to £325m from £217m, while underlying pre-tax profit was [...]
Budget 2017: Government announces plans to crack down on VAT evasion March 8, 2017 The government is cracking down on overseas traders that avoid paying UK VAT. In the Spring Budget today the Treasury has said that it will be putting in place measures to stop traders from undercutting UK businesses online by charging less and not paying tax on UK sales. To draw up a new collection method for VAT, [...]
Adidas’ share price is fighting fit after German retailer ups its income guidance March 8, 2017 Adidas' share price has jumped over seven per cent in morning trading after the company posted income growth over the €1bn (£870m) mark and increased its income guidance. The figures In Western Europe, Adidas' biggest market, sales increased by 17 per cent in 2016, growing to €5.29bn from €4.54bn the year before. Net income for the group jumped 51.2 [...]
John Lewis tarnished by Apple Watch advertising scandal March 8, 2017 John Lewis' squeaky-clean image has been tarnished after it pulled an Apple Watch promotion from its website. The department store disappointed a customer over its Black Friday sales event when it advertised Apple Watches on sale for £249, a price-match offer which was part of the retailer's promise to be "never knowingly undersold". Read more: [...]
G4S share price jumps after revealing positive results and being buoyed by Trump administration prospects March 8, 2017 G4S shares flew this morning after posting revenue growth, revealing a strong pipeline and making progress against a company overhaul initiated three years ago. The group's chief executive also made upbeat comments about US President Donald Trump's economic plans, saying "what's good for our customers is good for us". [stockChart code="GFS" date="2017-03-08 08:37"] The figures [...]
Work and Pensions Committee to pick over Vauxhall pension scheme and its £840m deficit, as well as retirement funds at BHS and Bernard Matthews March 7, 2017 A group of MPs revealed today they are having a closer look at Vauxhall's pension pot, the day after it was announced the European unit of the motoring brand's owner was being purchased by French car firm PSA. The Work and Pensions Committee also said it is scrutinising the status of Bernard Matthews' retirement funds and the recent £363m settlement [...]
Sterling falls to lowest since before Theresa May’s Brexit speech as Lords vote looms March 7, 2017 Sterling fell to its lowest value since mid-January ahead of the resumption of voting in the House of Lords on the government’s bill on Article 50. The pound fell below $1.22 against the US dollar on Tuesday morning for the first time since 17 January, when Prime Minister Theresa May announced the UK would leave [...]
Jaguar Land Rover is driven to new heights by 40 per cent surge in Chinese sales March 7, 2017 Jaguar Land Rover roared to a record year in 2016 and it shows no sign of taking its foot off the pedal. The British car giant has reported its best ever February retail sales of 40,978 vehicles, up nine per cent on the same period last year. It was driven by strong demand in China [...]