Marks and Spencer’s (M&S’s) 0.1% drop in like-for-like food sales in its first quarter is concerning, according to Economist Intelligence Unit (EIU), the forecasting and advisory services group.
2 Sisters Food Group’s parent company, Boparan Holdings, has reported a 39% fall in like-for-like operating profit to £13.1M in its third-quarter trading update, driven by redundancy and bird flu costs.
Tesco pledged to work with its suppliers to keep food prices low in its first-quarter trading statement, which reported a sixth consecutive quarter of like-for-like sales growth.
French dairy and nutrition company Danone has launched a cost-cutting and efficiency scheme, designed to save €1bn (£850M) by 2020, after its European sales fell 1.4% last year.
Greencore said it was confident of mitigating any Brexit-related cost increases, as it reported a 9.1% rise in like-for-like sales to £417M on a constant currency basis, in the 13 weeks to December 30.
Morrisons’ chief executive David Potts has thanked the retailer’s “food makers”, after the business reported rising like-for-like sales and profits in first-half results posted on September 15.
Food sales at Marks & Spencer (M&S) fell by 0.9%, on a like-for-like basis, in its first quarter, amid reports consumer confidence had fallen to its lowest level in 21 years following the UK’s Brexit vote.
Tesco is back in the black as pre-tax profits hit £162M, in its full-year results, up from the £6.3M deficit on the previous year, as the nation’s biggest retailer pledged to continue to work “more closely” with suppliers
Sainsbury boss Mike Coupe has blamed food price deflation for a drop in sales for the sixth quarter in a row, he said in a trading update today (June 10).
Greggs’s strategy is paying off, according to Sahill Shan, analyst at N+1 Singer, as the food-to-go chain disclosed strong half-year (H1) figures, ahead of interim results next month.
Boparan Holdings, the holding company for 2 Sisters Food Group, has reported strong progress in its third financial quarter (Q3), with its protein division contributing significantly to sales and profitability.
Tesco has posted operating profit down by 6% to £3.3bn and like-for-like sales down by 1.4% in full year results to February 22, due to “challenges in the UK and Europe”.
Leading retailers Tesco, Morrisons and Marks & Spencer (M&S) have all reported sliding sales over the Christmas period, with one retailer accused of delivering “a quite awful trading update”.
Sainsbury’s third quarter results for the 14 weeks to January 4 2014 were greeted with relief by City analysts, as the supermarket’s boss Justin King pledged to stay at the helm – at least for the short to medium term.
Bakery retailer Greggs has provoked cautious optimism from analysts over its latest quarterly trading update, with signs of a recovery in like-for-like sales.
