News and Trends

  Underlying profit of 716.4 mln pounds smashes expectations Food sales up 13%, clothing and home sales up 5.3% Says in strongest financial health since 1997 Confident of further progress in 2024/25 Shares up 7% LONDON, May 22 (Reuters) -  Marks & Spencer (M&S) smashed forecasts with a 58% rise in annual profit on Wednesday and announced its first yearly dividend since 2019, suggesting the British retailer may finally have found a recipe for revival after two decades of trying. Shares in the 140-year old food and clothing group, one of the biggest names in UK business, surged as much as 10% to a six year high of 300 pence after it said it was in the strongest financial health since 1997, and predicted more to come. After years of failed turnaround efforts, M&S is reaping the rewards of a costly investment drive to improve the quality and value of its clothing and food, upgrade its technology and e-commerce operations, modernise its supply chain, and overhaul i...

There is clear evidence of real, organic growth in spend within the latest Kantar figures on the global out-of-home (OOH) snacks and non-alcoholic drinks market – driven by consumers making more trips. As price-per-unit has stabilised, the impact of inflation has reduced, with the price effect no longer the main catalyst for value increases. People have both the desire and the ability to increase their OOH consumption. At last, the clouds are parting. The total market for snacks and non-alcoholic drinks continues to grow at a steady rate across both in-home and out-of-home (OOH) occasions, with a combined value increase of 11% in the fourth quarter of 2023. Year-on-year OOH sales grew by 17%, outperforming in-home (7%); a trend we see in all markets except for Spain, Portugal and Mexico. The most significant increases came from India, Brazil and the UK.   At a global level, consumers have increased the number of OOH trips they make by 16%, making this trend the main growth driver i...

Source: The Delicious Dessert Company Cookies & Cream Cheesecake Bakers have unveiled an array of sweet delights ahead of the summer season’s kick off including croissants, cheesecakes, biscuits, cakes, cookies, and doughnuts. Flavours showcased in the bakery debutants including the trending pistachio (as mentioned in our  cake trends ,  flavour trends , and  doughnut trends  reports), along with the ever-popular Biscoff and chocolate orange. Cookies & cream, matcha & white chocolate, and coconut & pineapple are among the mouthwatering combinations also appearing in new products. Discover more details on each sweet bakery NPD below: Source: Asda Extra Special Pistachio Filled Croissant Extra Special Pistachio Filled Croissant, Asda The retailer adds a new pistachio-filled variety to its now ten-strong range of own-label croissants including Almond, Raspberry, Hazelnut, and Lotus Biscoff, which collectively shift over 100,000 per week (as per Asda...

Source: Greggs Greggs has reported continued strategic and operational progress for the first quarter of this year, driven by an ever-expanding estate and strong performances across all channels. In its trading update for the 19 weeks to 11 May 2024, the bakery chain revealed a 7.4% increase in like-for-like sales at company-managed shops compared to the same period last year. It had previosuly posted a  full-year growth figure of 13.7% for its revenue  in 2023. Transaction volume growth so far in 2024 was said to have been supported by improvements in delivery sales, evening trade, and participation in the Greggs App – more than 50% of transactions were being scanned by the end of last year, with the rate continuing to rise in recent months. Total sales for the quarter hit £693m, up from £609m taken in Q1 2023. “We have a very compelling offer in terms of breakfast, lunch, and into the evening” Pizza boxes was the star performer among Greggs’ bakery items, with strong growth ...

The UK doughnut market is changing rapidly. Once dominated by supermarket jam doughnuts and hot sugared options at seaside towns, it has exploded to make way for household names, innovative independents, and everything in between. “The doughnut market is undergoing significant changes in terms of the types and sizes of businesses operating within it,” explains Laura Hensley, marketing assistant at ADM Milling. “While traditional bakeries and doughnut shops remain prominent players, there has been a notable rise in the presence of larger retailers and specialised doughnut chains.” “Doughnuts are one of the most popular items in bakery right now” Doughnut Time, Crosstown, Project D, and Doughnotts are among the specialised doughnut chains to make a splash on the UK market while behemoth Krispy Kreme, which is celebrating 21 years on UK shores, has also expressed its desire to get doughnuts into the hands of more happy customers. “Doughnuts are one of the most popular items in bakery righ...