Global credit rating agency Moody's has further downgraded Tesco long-term credit rating from Baa3 to Ba1, which is considered "junk" grade for investments that are considered 'high risk'.
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Majestic Wine saw sales creep up 1.1% over a "difficult Christmas" while Waitrose celebrated a bumper 15.4% increase in BWS sales over the same period last year.
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Demand for bigger bottles of wine is increasing, with one retailer predicting sales will rise by 8% in the next 12 months.
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Moody's Investor Services, an international credit rating agency, says Tesco's profit warning "will further increase negative pressure on Tesco's current rating" and that Tesco would remain under review for another possible downgrade.
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New Zealand's Yealands Wine Group is looking at funding options in order to fast-track expansion plans and increase its vineyard holdings.
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Tesco has issued a warning flagging full-year trading profit will not exceed £1.4 billion - 20% lower than analysts' expectations.
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There have been more than enough financial scandals in recent months, raising the question: have we lost our moral compass when it comes to business?
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In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.
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The 2% cap on business rates and commitment to a full "structural review", as revealed by the Chancellor of the Exchequer in his Autumn Statement, has been broadly welcomed across all sides of the drinks industry - both on and off-trade.
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The 2% cap on business rates and commitment to a full "structural review", as revealed by the Chancellor of the Exchequer in his Autumn Statement, has been broadly welcomed across all sides of the drinks industry - both on and off-trade.
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Start-ups have exploded onto the wine sector, particularly those with a digital focus, as 1,400 apps alone launched by 2014.
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Total revenue was up 3.3% rising to £614.9 million for the first half of 2015 fiscal year for pub company and brewer Greene King, but its operating profit dropped 3.1% to £123.3 million.
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The second quarter results from Brown-Forman show net sales have rebounded, growing 5% to $1.135 million in the second quarter, but operating income declined by 3% to $303 million due to the negative impact of foreign exchange.
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This year's DWCC touched on the issue of crowdfunding and peer-to-peer lending as a potentially untapped opportunity in the wine trade.
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In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.
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Kevin Grace, group commercial director, Carl Rogberg, UK finance director, and John Scouler, UK food commercial director, three of the executives that were suspended from Tesco following its accounting crisis have left the company, according to a Financial Times report. Other suspended executives, including head of beers, wines and spirits, Dan Jago,could be dismissed next week, according to media reports.
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In case you missed some of the headlines this week on harpers.co.uk, we have done a review of the top online news, financial news for the drinks trade, Q&As, and opinion stories.
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Brown-Forman shows little signs of slowing down following the "most successful year" in the company's history, announcing yesterday that it would be increasing its quarterly cash dividend by 8.6% to $0.315 per share.
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The ongoing price wars in the British grocery market have led sales to decline by 0.2% - the first decrease since market research firm Kantar World Panel began keeping records.
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Global property consultancy Knight Frank has teamed up with portfolio management platform Wine Owners to launch the Fine Wine Icons Index.
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