Italian liqueur group Campari has revealed its third quarter like-for-like sales rose 4.4%, below analyst expectations, due to a very tough comparison base (Q3 2022: +18.6%) and unfavourable weather conditions in Europe.
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Virgin Wines, one of the UK’s largest direct-to-consumer online wine retailers, has today (25 October) revealed its audited Annual Results for the period ended 30 June 2023 (FY23), are ‘in line with expectations’.
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The Retail of Alcohol Standards Group (RASG) has published a new set of guidance to prevent underage drinkers from purchasing alcohol via home delivery services.
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With autumn tastings in full swing, and with it the opportunity for retailers, wholesalers and suppliers to show off new stock, Harpers wondered if there might be an influx of lower-abv wines in light of the duty hikes. James Bayley reports.
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Pernod Ricard, the world's second-largest wine and spirits seller, is reportedly relinquishing three of its most-prized wine assets.
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Scotch whisky brand Johnnie Walker is one of the top five most valuable UK brands according to research by Kantar, joining the likes of Vodafone, HSBC and Shell.
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Gusbourne, the premium English sparkling wine producer, has announced its unaudited results for the six months ended 30 June 2023, reflecting another solid performance for the company, and a boost for the English wine sector in general.
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A newly incorporated entity owned directly by Berry Bros. & Rudd and Atlantis Win Holdings, a member of the Symington Group, has initiated a takeover bid for Hambledon Vineyard.
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Yesterday (19 September), online wine retailer Naked Wines announced a £15m loss in the year to 3 April.
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According to the latest UKHospitality Quarterly Sales Tracker, turnover was up 6.7% in the last year to £137billion but, compared to 2019, remains almost 20% behind in real terms, when accounting for inflation.
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In its FY23 performance review, Pernod Ricard, the world's second-largest wine and spirits seller, grew net sales by 10% (€12,137m).
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Premium alcohol brands are continuing to gather pace in the face of a mounting global cost of living crisis, new analysis suggests, with aspirational drinking still very much on top form.
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Economic depression tends to lead consumers to splash out on little luxuries. This is the idea behind the ‘lipstick effect’, coined by Estée Lauder’s Leonard Lauder to describe the rocketing rise of lipsticks in 2008, post the 9/11 attacks in New York and while global markets teetered on the brink of financial meltdown. By extension – and with the cost of living and wage stagnation pushing prices higher – alcohol still seems to fall within a comparatively ‘affordable luxury’ bracket.
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Pub closures reached back-to-back quarterly records in Q2 2023, smashing the previous unwanted benchmark set in Q1.
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According to research from UHY Hacker Young, the UK’s Top 100 restaurant groups have recorded a twelvefold increase in their profits in the last six months, rising from £19.9m in September 2022 to £241.8m in March 2023.
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Cult Wine, the fine wine investment platform, believes the ‘slow-down’ of high-end vintage Champagne prices might provide an opportunity for potential investors in the coming months.
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So, the deadline has come and gone – and despite an avalanche of criticism, including a letter sent by Hennings Wine owner Matt Hennings to his local MP in June, begging the government to wake up and smell the bonfire, the trade is now facing increases to the tune of 20% or 44p per 75cl bottle.
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Circana, the leading advisor on consumer complexity, has launched its Race for Resilience: Innovation Pacesetters report for Europe. Covering the six largest markets in Europe (France, Italy, Germany, Spain, UK, and the Netherlands), the report reveals declining product innovations for alcoholic drinks brands across the last two years.
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The changes to alcohol duty, due to come into effect tomorrow (1 August), are the biggest the UK has seen in nearly fifty years. As businesses make their final preparations, it seems we could see a raft of new changes entering the drinks landscape – including the need to better communicate the law of increasing returns when it comes to wine and the benefits of trading up.
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Inflation in hospitality rose again in June to 22.6% YOY, just shy of the record high of 22.9% in December 2022, as measured by CGA.
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