Business & Finance - Harpers Wine & Spirit Trade News

Morrisons' new boss faces a tough challenge say City analysts

Published: 12 March, 2015

Morrison's results were broadly in line with expectations, City analysts agreed - but incoming chief executive David Potts faces a tough year.

Morrisons posts losses of £792m as 23 convenience stores come into the firing line

Published: 12 March, 2015

Morrisons has posted an annual pre-tax loss of £792m, as total turnover fell 4.9% to £16,816m in the 52 weeks to 1 February 2015.

Gruppo Campari sees sales up but profits hit by acquisitions and poor exchange rate

Published: 10 March, 2015

Italian drinks group Gruppo Campari saw sales rise 2.4% in 2014 - but group net profit fell 13.9% to €43.2m, following one-off costs involved in recent acquisitions and an unfavourable exchange rate.

Invivo looks to raise close to £1m in first New Zealand wine crowdfunding venture

Published: 10 March, 2015

Invivo claims it will be the first New Zealand winery to launch an equity crowdfunding offer as it hopes to raise a maximum $2million NZD (just under £1 million) with the help of shareholders, including UK chat show host, Graham Norton, to spearhead its future growth.

Leading Labour MP calls on Chancellor to cut "shocking" duty levels in Budget

Published: 09 March, 2015

Leading front bench MP Sadiq Khan has followed up a Harpers request to lobby the Chancellor for a 2% cut in alcohol duty for wine and spirits and back the Wine & Spirit Trade Association-led Drop the Duty campaign.

The Smith Report: implications for the wine trade as euro tumbles

Published: 06 March, 2015

The euro has been having a rough time of it lately, which has implications for the wine world and may cause things to change over the next couple of months.

Denis O'Flynn, Pernod Ricard UK, why we need to get behind the WSTA

Published: 06 March, 2015

Denis O'Flynn, managing director of Pernod Ricard UK, talks about his plans as the new chairman of the Wine & Spirit Trade Association.

Brown Forman Q3 rise in profits driven by Jack Daniel's and premium whiskey growth

Published: 05 March, 2015

Brown Forman's reported underlying net sales grew by 5% and operating income increased by 7% for the first nine months of fiscal 2015 ending on January 31, 2015, despite the headwinds of a strengthening US dollar and unfavourable foreign exchange.

French vineyard attracts Seedrs highest number of crowdfunding investors

Published: 02 March, 2015

A French vineyard that launched a crowdfunding campaign has already attracted the record number of investors.

English Wine producer loses £80,000 worth of wine in raid

Published: 27 February, 2015

An English wine producer has had over 5,000 bottles of English wine stolen from its bonded warehouse in Sussex.

Treasury Wine says progress is being made, despite profits tumbling nearly 60%

Published: 27 February, 2015

Treasury Wine Estates has seen profits tumble nearly 60% - but boss Michael Clarke insists the company is making progress in "resetting" the troubled business.

Tesco names John Allan as new chairman

Published: 18 February, 2015

Dixons Carphone deputy chairman John Allan has been appointed to lead Tesco's board of directors as Richard Broadbent departs.

Wine sales rocket 20% to €44m at Vente-Privee

Published: 16 February, 2015

Wine sales rocketed in 2014 at flash sales site Vente-Privée, which is celebrating a 20% increase in wine turnover to €44 million, as it ramps up its UK focus with the appointment of a new managing director.

H1 results for Pernod Ricard show stability as Alexandre Ricard steps up as CEO

Published: 12 February, 2015

Sales growth for the first half of the financial year for Pernod Ricard was minimal, but stable, ahead of the announcement of leadership changes at the drinks giant.

Cold weather fails to dampen eating out sales in January

Published: 12 February, 2015

Restaurants and managed pubs saw like-for-like sales grow 1.4% in January, despite the snow and cold weather.

Tesco and rest of the supermarket industry returning to growth, says Kantar

Published: 10 February, 2015

After 13 reported months of decline Tesco has posted 0.3% growth and the supermarket industry as a whole appears to be improving with growth accelerating to 1.1%.

The Smith Report: The rise of independents retailers

Published: 09 February, 2015

There is some significant hype around the independent sector in the UK at the moment, but is it really warranted?

Conviviality Retail acquires 37 stores from GT News in £6m deal

Published: 04 February, 2015

Conviviality Retail, owner of Bargain Booze and Wine Rack, has acquired 37 stores owned by GT News in a deal worth £6 million.

LVMH profits up, despite poor wine and spirits performance in 2014

Published: 04 February, 2015

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.

Opportunities ripe for consolidation in independent wine sector, predicts Broderson

Published: 03 February, 2015

The time is right for many independent operators across the wine and spirits sector to seriously consider consolidation in order to strengthen businesses, says drinks mergers and acquisition specialists Broderson & Co.