Pub Retailer Reported Setback in New Year Sales
Pub retailer and brewer Greene King has reported a setback in New Year sales following a strong Christmas trading period. Sales across its tenanted pubs, which include Old English Inns and the Hungry Horse chain, were up by 5% in the 35 weeks to January 3rd but this slowed to 4.3% three weeks later thanks to the snow keeping punters indoors.
The Suffolk-based group warned sales growth would ease following VAT reverting to 17.5%.
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E.ON Job Cut
Energy supplier E.ON is to close a call centre with the loss of 600 jobs in moves to streamline its customer service operations.
A further 200 posts will go from elsewhere in the company. Unions have called on the government to step in to prevent the closure of the call centre in Rayleigh, Essex.
The company continues to make massive profits. They have no need to make these outrageous cuts.
JD Wetherspoon Sales Down
The big freeze knocked down sales at JD Wetherspoon pubs as drinkers stayed at home.
All 744 outlets remained open during the snow but, with reduced footfall, the company’s sales for the 12 weeks to January 17th were down by 0.3% on a year earlier. The weather also caused higher levels of spending on repairs but Wetherspoon said this was offset by a year-on-year fall in energy costs.
Overall, the company announced that it was confident in its prospects for the financial year to July 25th.
Junk Mail Help UK Mail
A jump in the amount of junk mail helped Royal Mail rival UK Mail to a better-than-expected rise in revenues. UK Mail said group sales for the three months to December 31 were 4% higher than the same period in 2009, helped by Growth in both its mail and parcels businesses.
A spokesman said that the company, which delivers mainly for clients such as banks, ‘definitely saw a pick up in volume’ after Royal Mail strike.
Britvic See Rise in Sales
Britvic has seen an 11% rise in sales, to £242.7 million.
The company said British and international sales of fizzy drinks were up by 20% in the three months to December 20 which offset a dip in the Irish market.
However, Britain’s second biggest fizzy drinks supplier warned its second quarter performance was likely to show a relative slowdown in sales. It said that the bad weather this month had affected demand and sales during the same period in 2009 were very strong.
Pet Store Snapped up by Private Equity Giant
UK’s biggest pet store is being snapped up by private equity giant Kohlberg Kravis Roberts. Pets at Home owner, Bridgepoint Capital, agreed to sell to KKR for a reported £950 million.
Cheshire-based Pets at Home, which has more than 250 stores and 4200 staff, will join a stable of KKR retail investments, including Alliance Boots and Toys R Us. Pets at Home, which also runs 54 veterinary centers, has enjoyed strong growth and been weighing up a sale or flotation for several months.
As well as pet food, the winter chill saw a 70% surge in demand for dog coats, while sales of rabbit hutch covers also rose.
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