Morrisons has reported an 8.6% rise in annual sales and “strong momemtum” depsite a profits slump due to COVID costs, while John Lewis Partnership posts a £517m loss amid restructuring costs and writedowns.
Morrisons this morning reported end of year sales up 8.6% on a year ago, as CEO David Pott’s hailed the retailers “strong momentum” as it approaches the easing of lockdown.
The results, compared to 0.8% sales fall a year ago, included total revenues up 0.4% to £17.6bn, despite profits being down by more than 60%, in part because of £290m of Covid related costs.
Total revenue excluding fuel was up 8.9% as fuel sales slumped 32.1% to £2.49bn during the pandemic.
Morrisons said online sales had tripled during the year, with capacity now up fivefold whilst both its online and wholesale operation were already profitable and expected to become more so.
By Alec Mattinson2021-03-09T09:00:00+00:00
UK supermarkets are continuing to see the highest industry sales growth since the summer of 2020 as booming online sales mitigated a small drop in physical stores.
According to NielsenIQ, total till sales for the four weeks to 27 February grew by 10.6% year on year – same figure from the previous four week period and the highest level since June 2020 when sales growth peaked at 14%.
British shoppers spent £1.5bn on online groceries during the month, with the online share of grocery sales now reaching 17%, which represents the highest ever share for online grocery sales in the UK.
By Helen Gilbert2021-03-05T11:46:00+00:00
Source: Finsbury Food Group
Finsbury Food Group has teamed up with Costa Coffee to launch a brand new vegan traybake with YouTube stars BOSH!
Described as indulgent, the Ultimate Chocolate Slice (rsp £2.25) is made with a chocolate tiffin base. It also sports a chocolate topping and is finished with fudge and cookies pieces.
The NPD comes after Finsbury joined forces with the bestselling vegan authors to develop its four-strong range of vegan cakes last year.
“Our partnership with BOSH! has allowed us to expand into the vegan category, and as the range continues to grow and do well, we’re excited to continue working hard and create high-quality, enjoyable cakes that can be enjoyed by everyone, regardless of dietary preference,” said Jack Cook-Broussine, brand manager for Finsbury Food Group.
By Edward Devlin2021-03-03T08:22:00+00:00
Top story
Vimto maker Nichols has experienced a dramatic slump in sales and profits as it faced the “unequalled challenges” presented by the Covid pandemic.
Following a strong start to 2020, with first quarter sales up 6.2%, the group was hit hard by the first national lockdown in March as the out-of-home market for its still and fizzy portfolio of drinks disappeared overnight. Revenues across the next three quarters sank 26.1% compared to the prior year to finish 26.1% lower overall for 2020 at £118.7m.
In the UK, Nichols revenues declined 22% to £91.6m over the year, driven by a 61.4% reduction in the out-of-home sector.