Moët Hennessy Louis Vuitton reported €30.6 billion in revenue for its full year financial results for 2014, which was up 6% over 2013, with revenue increases in all business groups except the wine and spirits arm of the company.
Read more...Euromonitor's global economic outlook for 2015 forecasts the US economy will see the largest growth in real GDP and a strengthening currency, and should be the best performing advanced economy this year.
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Fever-Tree, the premium mixer company, announced yesterday a strong financial performance in the second half of 2014, with sales expected to rise 43% and revenue to grow 49% to £34.7 million.
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Rémy Cointreau's sales are still declining based on its third quarter financial results, but falls are slowing signalling that the company may finally be stabilising following a Cognac crash that hit China.
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Global credit rating agency Moody's has further downgraded Tesco long-term credit rating from Baa3 to Ba1, which is considered "junk" grade for investments that are considered 'high risk'.
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While the grocery market has returned to very slight growth, real grocery deflation, which has seen prices fall by 0.7% versus last year, equates to savings of £182 million for consumers in the last three months, according to Kantar.
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Moody's Investor Services, an international credit rating agency, says Tesco's profit warning "will further increase negative pressure on Tesco's current rating" and that Tesco would remain under review for another possible downgrade.
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Tesco has issued a warning flagging full-year trading profit will not exceed £1.4 billion - 20% lower than analysts' expectations.
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Total revenue was up 3.3% rising to £614.9 million for the first half of 2015 fiscal year for pub company and brewer Greene King, but its operating profit dropped 3.1% to £123.3 million.
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The second quarter results from Brown-Forman show net sales have rebounded, growing 5% to $1.135 million in the second quarter, but operating income declined by 3% to $303 million due to the negative impact of foreign exchange.
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Brown-Forman shows little signs of slowing down following the "most successful year" in the company's history, announcing yesterday that it would be increasing its quarterly cash dividend by 8.6% to $0.315 per share.
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Constellation Brands (STZ) hit a 52-week high in trading yesterday, peaking at US$95.09 per share and closing the day at $94.02, which is the third time this year the company has hit a yearly record level.
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Sainsbury's half-yearly results show the company's underlying profits dropped 6.3% to £375 million, the worst performance in over a decade for the company.
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The Serious Fraud Office has launched a criminal investigation into Tesco's accounting irregularities after the retailer confimed it had mis-stated profits by £263 million.
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Pernod Ricard returns to growth in Q1 with organic sales increasing 2% and sales totalling €2,037 million despite the company's Priority Premium Wines category posting a 3% decline in net sales.
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Moody's, one of the biggest international credit rating agency, predicts that Tesco, Sainsbury's, Asda, and Morrisons will see continued to see dwindling profit margins over the next 12 to 18 months.
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Constellation Brands is set to release its second quarter financials today, and with over 51.9% share-price growth over the past year, the question on everyone's mind is can it continue?
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Tesco's senior unsecured long-term debt rating and its short-term credit rating was placed "on review for a downgrade" by credit rating agency Moody's Investor Service following the announcement that it had overstated its profits for the first six months by an estimated £250 million.
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Mitchells & Butlers, one of the largest operators within the UK market, has been quietly growing the number of site throughout the year and has added 195 new sites over the past year.
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Tesco overstated its profits for the first six months up to August 23, 2014 by an estimated £250 million, according to a statement released by the company this morning.
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