Gin sales boost Diageo profits July 25, 2019 Guinness owner Diageo saw profits rise last year driven by sales of its Gordon’s and Tanqueray gin. The figures Net sales increased 5.8 per cent to £12.9bn and operating profit soared 9.5 per cent to £4bn, driven by organic growth. Net cash from operating activities was £3.2bn, up £164m. Earnings per share increased by 7.4 [...]
Unilever turnover slumps in cooler weather July 25, 2019 Unilever reported a slump in turnover in the first half of 2019 as cooler weather impacted ice cream sales in Europe and the US. The figures Turnover fell 0.9 per cent to €26.1bn in the first half, the company said as it reported its half year and second quarter results this morning. Second quarter underlying [...]
Demand for retail property in London falls as sector’s woes continue July 25, 2019 Demand for retail property continued to fall across London in the second quarter of the year and is now approaching financial crisis-level lows, according to a new survey. Read more: UK retail industry battles ‘toughest ever’ trading conditions Meanwhile, demand from overseas investors has also continued to drop as Brexit looms, showed the latest commercial [...]
More than 70,000 retail jobs lost amid high street struggles July 25, 2019 More than 70,000 retail jobs were lost over the last year as high street stores battle slowing sales and changing consumer habits. The total number of employees fell by 2.3 per cent in the second quarter, amounting to around 72,000 jobs being lost year-on year. Read more: Joules defies retail anguish with growth across the [...]
Competition watchdog kicks off probe into JD Sports’ Footasylum acquisition July 24, 2019 The competition watchdog has kicked off its probe into JD Sports’ acquisition of Footasylum. JD Sports bought the remaining shares in the footwear retailer in a deal worth £90m in March this year, with shareholders approving the sale the following month. Read more: JD Sports on track to meet profit expectations However, the Competition and [...]
Beer sales slump dampens Marston’s share price July 24, 2019 Shares in pub operator Marston’s plunged more than 10 per cent today as the company announced that beer sales growth slumped due to poor weather. Sales have been hit by 2019’s “relatively poor weather” following last summer’s heatwave and the England football team’s World Cup success. Read more: Marston’s cheers rise in profits after strong [...]
Britvic revenue slumps in challenging market July 24, 2019 Drinks producer Britvic warned this morning that revenue dipped in the third quarter of the year due to a “more challenging” market. The company, which owns brands such as 7up, Tango and Robinsons, said revenue was £360.1m, a decrease of 1.5 per cent on last year. Read more: Britvic installs Tesco finance guru as new [...]
B&M boosts revenue as expansion plan continues July 24, 2019 Bargain retailer B&M boosted revenue in the first quarter of the financial year, the company said, as it announced that its store opening schedule remains on track. Group revenue growth in the quarter was 21.4 per cent driven by B&M UK revenue growth of 13.8 per cent, the company said in a trading update this [...]
Joules defies retail anguish with growth across the board July 23, 2019 Clothes store Joules this morning announced a double-figures spike in profit despite tough high street conditions. The full-year results will be the last for outgoing CEO Colin Porter, who said the firm was “well-positioned for continued success”. Read more: Joules lures in top Asda director as new chief executive The figures Pre-tax profit rose 14.9 [...]
Has ASOS just issued its third and final profits warning? July 23, 2019 | City Talk By Graeme Evans from interactive investor. With ongoing operational issues aplenty, investor confidence hinges on a belief in stock market adages. Warehouse troubles drove ASOS (LSE:ASC) to a third profits warning in less than a year as the fast-fashion giant slipped even further behind the market value of upstart rival Boohoo Group (LSE:BOO). Shares dived as much as 22 per cent [...]