NEWS ShopTalk T
esco has reported strong growth in sales in its preliminary results announcement for 2016/17. Group sales were up by 4.3% to £49.9bn, while UK like-for-like sales increased by 0.9% - its first reported full year growth since 2009/10. UK like-for-like food sales grew by 1.3%. The retailer also saw positive volume growth in both the UK and ROI and International businesses. Group operating profit before exceptional items was up by 30% to £1,280m.
Last month Tesco took a £235m charge after it agreed a deferred prosecution with the Serious Fraud Office (SFO) and Financial Conduct Authority (FCA) for overstating its profits in 2014. This appears as an exceptional charge in the 2016/17 results.
businesses, driving additional value for shareholders by realising substantial synergies and enabling us to access the faster growing ‘out of home’ food market.”
“This has been a pivotal year and we have made significant progress delivering and accelerating our strategy. We are pleased with the progress made since we acquired Argos. We have opened 59 Argos Digital stores in Sainsbury’s supermarkets and they are performing well.”
The Co-op is creating up to 250 retail roles with plans to open 12 new food stores in Wales during this year. The retailer’s continued
investment in Wales will see a more than £16m programme of food store openings and refits. Alongside a dozen new stores, there are major makeovers for around 20 further stores.
Chief executive Dave Lewis said: “We are ahead of where we expected to be at this stage, having made good progress on all six of the strategic drivers we shared in October. We are confident that we can build on this strong performance in the year ahead, making further progress towards our medium-term ambitions.”
He continued: “On top of this, our proposed merger with Booker will bring together two complementary
6 June 2017
The first new Welsh store was opened in Rossett, near Wrexham, in April with new stores also planned for Swansea, Cwmbach, Rhayader, Monmouth, Radyr, Pembroke, Llanelli and Machen. Stores in St David’s Park, Old Colwyn, Holyhead, Talgarth and Barmouth have all re-launched with a new look this year after receiving major makeovers.
Sainsbury’s has seen its full year profits fall by 8.2% to £503m according to its preliminary results for the 52 weeks to 11 March 2017 Like-for-like sales were down by 0.6%. However, group sales increased by 12.7% to £29,112m, mainly as a result of the Argos contribution, the retailer said.
Chief executive Mike Coupe said:
He added: “We continue to find ways to simplify our business and reduce costs. We are on track to deliver our three-year £500m cost saving programme by the end of 2017/18 and we will deliver a further £500m of cost savings over three years from 2018/19. We benefit from a strong balance sheet and have reduced our net debt by £349m to £1,477m.
Manchester) and Strood (Kent) and brand new locations for M&S with Clothing, Home and Food stores opening in Bracknell and Rushden in July.
M&S is also consulting with colleagues over the proposed closure of six stores including two Simply Food outlets in Monks Cross and Worksop. M&S currently has 615 Food-only stores.
Chief executive Steve Rowe said: “M&S stores will always be an integral part of our customer offer, working seamlessly alongside our website, M&
S.com, to deliver great products and service to our customers. However, our customers’ shopping habits are changing. Picking up food for now or tonight rather than doing one big shop or browsing and shopping online and collecting in store are great examples of this and we are committed to adapting our business so that we stay in tune with our customers.”
Morrisons has seen its first quarter group like-for-like sales (excluding fuel) increase by 3.4%.
Marks & Spencer has updated its five-year programme to improve its UK store estate so it can better meet customers’ changing needs. The plans will improve the M&S store estate to better meet customer needs and include opening 200 new Food-only stores and selling Clothing and Home from 60 fewer locations. 34 new Food stores and two Clothing, Home and Food stores are planned to open in the next six months. The new stores include new Foodhalls in Bishopsgate (London, near Liverpool Street), Huntingdon, Aylesbury, Spinningfields (central
According to its results for the 13 weeks to 30th April, total sales (excluding fuel) were up by 2.8%. Chief executive David Potts said: “Our new financial year has started well, thanks once again to the dedication of our team of food makers and shopkeepers. We are improving the shopping trip in many different ways, which is making Morrisons more popular and accessible for customers. These new initiatives in-store, online, in wholesale and services are beginning to build a broader, stronger Morrisons.”
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