Weekly Roundup... 31st July, 2018
Published on Jul 31 2018 10:18 AM
The ‘Banquet at Electric Picnic’ is set to once again take place at this year’s festival, as Derry Clarke & Clodagh McKenna recently announced an exclusive partnership to serve a five-star fine dining banquet at the three-day event using only the finest* ingredients. Partnering with Tesco finest* Derry & Clodagh have co-created a menu for picnickers to enjoy, while also raising much-needed funds for Temple Street Children’s University Hospital and Pieta House.
Amazon’s operating cash flow increased 22% to $21.8 billion this year, compared with $17.8 billion for the trailing twelve months ended June 30, 2017. Excluding the $760 million favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 37% compared with the second quarter 2017.
Ardagh Group’s revenue increased by 6% and 1% on a reported and constant currency basis respectively in the second quarter of the year, ending June 30 2018. Paul Coulson, chairman and chief executive, said “Second quarter results reflected good performances in three of our four divisions”, however, growth was offset by a reduction in Glass Packaging North America.
The Henderson family, a Dublin-based retailing family, has said that it is preparing a bid to approximately 200 Poundworld stores out of insolvency proceedings in the UK. The family founded an entirely separate business entity with the same name in Ireland in 1984, but was sold in 2007 after the business adjusted to the conversion to euro.
Coffee is the latest retail commodity to be hit by the recent heatwave. According to Retail Excellence Ireland, sales of hot beverages fell by 3% in June, its first monthly decline for five years. Lorraine Higgins, REI’s chief executive, said that it is “wholly attributable to the heatwave”, after sales rose 5% in April, after Storm Emma.
Luxury goods-maker LVMH has said that its Wine & Spirits business posted profits of 7% in the first half of the year, despite its US drinks sales were marginally down. Brands like Hennessy cognac and Moët & Chandon champagne, posted sales of €2.27 billion in the first half of the year, which was down 1%, however, the business said that organic sales in the division were up 7%.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.