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TescoGate: Credit rating downgraded in fear of shareholder litigation

Published:  24 October, 2014

Moody's Credit Agency further downgraded Tesco short and long-term credit in response to company's announcement yesterday that it had overstated profits by £263m. Tesco's ratings will remain on review for further downgrades due to concerns over the potential financial impact for shareholder litigation.

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Waitrose predicts healthy future for South American and lighter style wines and spirits

Published:  24 October, 2014

South American wines and more left field grape varieties like an Austrian Grüner Veltliner or a Spanish Albarino are going to become far more trendy in the months ahead, according to the new Waitrose Food and Drink Report 2014.

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TescoGate: suppliers should complain to Groceries Code adjudicator

Published:  24 October, 2014

A leading wine trade lawyer has called on suppliers who feel they have been badly treated by Tesco or any other supermarket, to complain to the Groceries Supply Code adjudicator.

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TescoGate: Angela Mount identifies the impact on BWS of retailer's lack of strategy

Published:  23 October, 2014

Ex-Somerfield wine buyer Angela Mount questions how Tesco's BWS department will function in the longer term as pressure to make trading plans for next year builds.

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TescoGate Live: What the national business press said of Tesco's 92% profits fall

Published:  23 October, 2014

The national media's business press has been busy this morning analysing Tesco's half-year 92% drop in pre-tax profits and even larger accounting black hole and looking at ways it can get itself out of the mire and back to leading the UK grocery retail market.

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TescoGate Live: Analysts take to Twitter in reaction to Tesco's profits black hole

Published:  23 October, 2014

Following Tesco's announcement this morning that profits had been over estimated by £263m resulting in 92% drop to £112m, analysts have taken to Twitter to share their reactions.

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Master sommeliers Gerard Basset and Kathrine Larsen flag French wine potential in on-trade

Published:  23 October, 2014

Top sommeliers Gerard Basset and Kathrine Larsen say the on-trade needs to trust staff, not be afraid to have a French wine as the house offering, and tell compelling stories in order to boost sales in the category. 

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TescoGate results video: Chief executive Dave Lewis in his own words

Published:  23 October, 2014

Tesco's chief executive is looking to "re-energise" the company following the "body blow" of its financial scandal, but has so far revealed scant detail of his plans.

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Australia's McWilliam's Wines buys back Gallo shares

Published:  23 October, 2014

Australia's McWilliam's Wines Group has returned to 100% family ownership after buying the remaining shares owned by E&J Gallo.

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TescoGate Live: Serious Fraud Squad watching profits black hole inquiry with "interest"

Published:  23 October, 2014

The Serious Fraud Squad has said today it is "following developments at Tesco with interest" on the back of news that the profits black hole at the UK's biggest supermarket is higher than first thought.

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Pernod Ricard returns to growth in Q1 despite wine sales decline

Published:  23 October, 2014

Pernod Ricard returns to growth in Q1 with organic sales increasing 2% and sales totalling €2,037 million despite the company's Priority Premium Wines category posting a 3% decline in net sales.

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TescoGate Live: Profits blackhole worse than feared as pre-tax profits fall 92%

Published:  23 October, 2014

The sales crisis at Tesco is even worse than first feared with a 92% drop in pre-tax profits for the last six months, an even larger profits black hole than first announced and a blunt admission from new chief executive, Dave Lewis, that it has its work cut out to win back the trust of its customers.  

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Vin de France has driven 'important growth' for French wine

Published:  22 October, 2014

The creation of the Vin de France category has driven "important growth" in French wine exports as well as acceptance among younger consumers, Harpers France Summit heard.

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TescoGate: Retailers will take greater care of suppliers now "genie" is out of bottle

Published:  22 October, 2014

The TescoGate accounting crisis means retailers will take greater care in their dealings with suppliers, now the "genie is out of the bottle", experts have told Harpers.co.uk.

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Ex- Gonzalez Byass marketer Jeremy Rockett starts own business

Published:  22 October, 2014

Former González Byass marketing director Jeremy Rockett has set up his own business, Rockett Science, advising wine firms on their marketing.

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Harpers French Wine Awards celebrate champions in the UK trade

Published:  22 October, 2014

The second annual Harpers French wine awards were held at the conclusion of yesterday's France Summit 2014 in London and recognised those people and business which are championing French wines in the UK trade.

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Graham's solves problem of vintage Port gift giving

Published:  22 October, 2014

Vintage Port lovers can now mark significant dates, such as births or weddings, with a pre-ordered Graham's Port for the year of their choosing.

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Tesco's woes continue with further drop in sales as Waitrose hits record market share

Published:  22 October, 2014

Tesco continues to lose market share to its grocery rivals at both ends of the retail spectrum, according to the latest figures from Kantar Worldpanel which reveals that Waitrose achieved its record performance for the last 12 weeks of trading.

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Local retailers take call for changes to business rates to Westminster

Published:  21 October, 2014

Local retailers from across the country are descending on Westminster today to fight their corner for improvements in the system of business rates.

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France's "biggest opportunity" in wine is online, say experts

Published:  21 October, 2014

France is in "pole position" in the online wine market - which represents the country's biggest opportunity going forward.

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