Asda has secured its fifth straight quarter of rising sales, boosted by an expanded vegan range and the launch of premium gins. Like-for-like sales, which strip out the impact of new stores, grew by 0.4% during the second quarter, strengthening the company’s turnaround (Telegraph, Daily Mail).
Walmart unveiled its strongest US sales growth in more than a decade as traffic to its stores climbed and ecommerce accelerated (Financial Times £). The retail giant said that comparable shop sales in the United States, its largest market, grew 4.5 per cent in the second quarter compared with last year, almost twice as fast as analysts forecast (The Times £).
The FT’s (£) Lex column wrote, “the titan had been struggling to adapt to the Amazon age, making a series of big investments with uncertain pay-offs. But for now the roaring US economy is providing room to breathe”.
An unusually hot summer in northern Europe and the football World Cup in Russia lifted Carlsberg’s sales and profits above expectations, and allowed the Danish brewer to raise its full-year outlook (Financial Times £). Craft beer and alcohol-free brew volumes both jumped by 26 per cent across Western Europe (Daily Mail).
Online discounting, the World Cup and good weather helped UK retailers to bounce back by more than expected in July after a decline in sales volumes in June, the Office for National Statistics said (Financial Times £, Telegraph, The Guardian, The Times). Retail sales rose by 0.7 per cent during the month, compared to a decline of 0.5 per cent the previous month. Analysts had expected an increase of 0.2 per cent.
Vaping is much less harmful than smoking, and the UK government should actively support e-cigarettes to reduce the death and disease caused by tobacco, according to MPs. With the world of public health divided about the risks from vaping, MPs on the Commons science and technology committee took a pragmatic view (Financial Times £, Sky News).
German detergent and glue maker Henkel revised down its full-year earnings guidance after missing analysts’ profitability expectations in the second quarter, as it was hit by currency headwinds and rising material prices (Financial Times £).
Trendy craft beer producer Brewdog has to pay £12,000 compensation to a former employee who was sacked after telling the company he was about to be declared legally blind (Daily Mail).
House of Fraser is cancelling all online orders and refunding thousands of customers potentially millions of pounds, after a dispute with its warehouse operator held up deliveries (The Guardian).
Debenhams will slash up to 90 jobs as the struggling department store chain pursues cost savings across its fashion and home departments (Telegraph).
B&Q owner Kingfisher bounced back from a sales slump in the second quarter of its financial year as the hottest summer in decades boosted sales of fans, barbecue charcoal and paddling pools (Telegraph).
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