WH Smith’s share price climbs after retailer announces share buyback programme October 13, 2016 WH Smith's share price was up 3.5 per cent this morning after the company said its pre-tax profits increased eight per cent year-on-year. The retailer also increased its dividend by 12 per cent and said it would be starting a £50m share buyback programme. Read more: #Marmitegate: Someone is selling a jar of Marmite on [...]
Shock, horror, Bovril: Here’s how Twitter has reacted to Marmitegate October 13, 2016 A nation is in shock after Tesco said it is locked in a battle with Unilever over a potential 10 per cent price hike. As it stands, Tesco has admitted it may start to run out of Unilever's brands, which include Dove and Persil. And experts have warned this may not be the last threatened shortage of household staples in [...]
Tesco v Unilever: What the analysts are saying about #Marmitegate October 13, 2016 As Brits try not to panic in the face of (probably) rapidly depleting Marmite stocks at Tesco, analysts have warned that Brexit-induced inflation is looming ever closer. Tesco's share price dropped by 2.2 per cent in early trading today, after it was revealed the supermarket is in a dispute with consumer goods producer Unilever over pricing. The [...]
Someone is selling a jar of Marmite on eBay for £100,000 as the price war between Unilever and Tesco rolls on October 13, 2016 Someone is trying to sell a jar of Marmite on eBay for £100,000 amid fears that the stocks may run low due to a supply dispute between Tesco and Unilever. Tesco has pulled Marmite and all other Unilever brands from its website after Unilever attempted to increase its wholesale prices. At time of writing Tesco's share price [...]
Game Digital share price lifts slightly despite fall in profit before tax of more than 80 per cent October 13, 2016 It's not all fun and games over at retailer Game Digital today, where both profits and revenue have fallen over the past year. The figures Profit before tax at the high street game seller plummeted 81 per cent to £4.9m in the 53 weeks to 30 July, down from £25.8m in 2015 as Game struggled [...]
Sports Direct’s CFO leaves company after presiding over three profit warnings October 13, 2016 Sports Direct has said this morning that its acting chief financial officer will leave at the end of the year. Matt Pearson became CFO last June and has presided over a tumultuous year for the company, including a parliamentary inquiry into working conditions and wages and three profit warnings. Most recently, the company issued a profit warning [...]
Unilever reports sales growth as it battles ‘tough market’ October 13, 2016 Unilever has reported an uptick in sales during the third quarter of 2016, despite facing what it described as 'tough market conditions'. Underlying sales grew by 3.2 per cent in the quarter, with price up 3.6 per cent and volume dipping by 0.4 per cent. On a constant exchange rate, sales were up by 3.4 per [...]
Tesco is struggling to stock key staples after price row with Unilever October 12, 2016 Tesco boss Dave Lewis is on a collision course with the company where he earned his stripes after the supermarket revealed it was running out of staple products such as Marmite and PG Tips. The supermarket giant said that it was running low on Unilever products and it is understood that this was as a result of [...]
Domino’s Pizza worst FTSE 250 performer as like-for-like sales slowdown takes a bite out of its share price October 12, 2016 Domino's Pizza has been the worst performer in the FTSE 250 so far today after its posted a slowdown in like-for-like sales in its key UK business. The figures Like-for-like growth at the takeway giant's UK store base grew 3.9 per cent to £220.9m in the 13 weeks to 25 September. In the same period of [...]
Sir Philip Green faces a fresh grilling when MPs debate BHS’ collapse next Thursday October 12, 2016 Sir Philip Green faces a fresh grilling from MPs when the House of Commons debates the collapse of BHS next Thursday. Morning Wire understands the debate will focus on the BHS pension scheme and the damning report from MPs that labelled Sir Philip Green "the unacceptable face of capitalism". Read more: Sir Philip Green's Mediterranean superyacht renamed [...]