City Snapshot: Waitrose sales rise during half-term week

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Waitrose has increased its weekly sales, excluding petrol, 1.1% to £121.1m despite tough comparatives and continued food price deflation. Figures for its 17^th week of 2015-16 means growth so far this year compared to 2014-15 is up just 0.7%. The weekly figures follow news that Waitrose increased sales by 1.6% and boosted market share to 5.2%, according to the latest Kantar figures.

Personnel director Helen Hyde said, in “characteristic British fashion”, customers made the most of the weather during half-term week with “booming” demand for sales of outdoor products. Outdoor plants also had a “stellar” week, helped by one of the highlights of the Chelsea Flower Show – lupins.

Sales of sun care products were up 25%, while ice cream sales rose 18% compared with last year. English wine’s growth has been on an upward curve for the last few years with Waitrose now holding a 60% market share, Hyde added.

British asparagus and Jersey Royals saw sales increase 39% and 13% respectively and the warmer weather also helped cider sales jump by 25%.

Morning update

In an especially quiet morning for grocery, following the excitement of yesterday’s Morrisons AGM and pay details of M&S and Sainsbury’s, there is little to report.

London brewer Fuller, Smith & Turner (FSTA) posted a 12% jump in full-year revenues to £321.5m and adjusted profit before tax up 7% to £36.4m. CEO Simon Emeny said: “It has been another year of excellent progress for the company and I am delighted to be reporting growth in all three areas of the business. Our managed pubs and hotels business continues to outperform the industry, the Fuller’s beer company has seen growth in all channels and our tenanted business has had an outstanding year.” Shares in the company opened 4.5% higher at 1,107p.

After a day of little movement yesterday, Morrisons (MRW) stock has fallen 2.2% already this morning to 174.3p following the AGM at its headquarters in Bradford. The board faced a revolt – with more than one in three shareholders voting against it pay policy – despite the new chairman and CEO receiving the blessing of Sir Ken Morrison. It is the biggest faller on the FTSE 100 this morning after just keeping hold of its blue-chip status by the skin of its teeth earlier this week.