Latest news with #premiumproducts
Reuters
3 days ago
- Business
- Reuters
Indian beauty products retailer Nykaa's profit surges on demand for premium products
May 30 (Reuters) - Indian beauty products retailer Nykaa, on Friday, posted a fourth-quarter profit that nearly tripled year on year as premium brands continued to attract urban consumers. The company, listed as FSN E-Commerce Ventures ( opens new tab, said its consolidated net profit rose to 202.8 million rupees ($2.4 million) in the quarter, from 69.3 million rupees a year ago. Nykaa's total revenue, over 92% of which comes from its beauty products, jumped nearly 24% to 20.62 billion rupees. Sales of beauty products, including from international brands such as Estee Lauder and singer Rihanna's Fenty Beauty, increased 25% to 18.95 billion. The premium segment in India's $28 billion beauty and personal care industry has defied a broader slowdown in urban consumption as upper middle class and richer consumers continued to splurge on discretionary items. Higher sales of premium products helped Nykaa's gross margins expand by 151 basis points to 44.1% in the quarter. The company's net profit also got a boost from total expenses rising 23%, less than total revenue growth, to 20.31 billion rupees. Revenue from Nykaa's fashion apparel business climbed 11% to 1.61 billion rupees in the quarter. ($1 = 85.5300 Indian rupees)
Daily Mail
23-05-2025
- Business
- Daily Mail
Morrison's announces major overhaul of its UK supermarkets
Morrisons will overhaul its UK supermarkets by scrapping 2,500 items and replace them with premium farm shop style products, according to reports. The revamp - which is already underway in some UK stores - is being dubbed 'Morrisons Magic' and will be led by Director Andrew Staniland, as first reported by The Grocer. Its Warrington store has already undergone the transformation as part of an initial trial period which saw it add 500 new items to its range while removing 2,500. After the success, it is believed Morrisons could roll out the wholesale changes across all of its stores in the coming months. Morrisons' revamp will reportedly focus on its Market Street range, where shoppers can currently purchase fresh meats, fish, greens and baked goods. This area in stores is set to be transformed into something resembling a farm shop, marketed at both rookie and skilled home cooks. These products will be sold in foil trays in which meats will be sauced, marinated and breaded before being sold ready to cook in an attempt to give items a 'premium' feel. Its new ready meal range will also allegedly feature a collaboration with sushi chain YO! in a move to widen its selection of cuisines. The planned overhaul is good news for bargain hunters with Morrisons having a 'laser focus on clear pricing and value'. This is said to include promotions on items like squash, bread and biscuits for as cheap as £1 or two for £3. There will also be a three for £5 fresh fruit deal, a 'pick and mix' style bakery and pizza offer. However, its new meal deals will cost £6, a rise from £4 currently. Mr Staniland told The Grocer: 'It's early days, we are testing and we are learning, but the Morrisons Magic programme is now well underway. 'The trial in Warrington is going really well and customer reaction has been fantastic. Market Street's modernisation is continuing at speed and the farm shop influence and added-value fresh products is really catching our customers' eyes. 'And through the rest of the store the crisper, cleaner look is underscoring our value credentials, together with a tighter focus on customer favourites, some great innovations and some wonderful new products.' Morrisons has long insisted that its Market Street range is pivotal to the quality of its stores and would not be scrapped in future plans. But the chain announced in March that it would be closing 72 fresh meat and fish counters, and 13 florists across its store estate in an aim to cut costs.
Daily Mail
23-05-2025
- Business
- Daily Mail
Morrison's announces major overhaul of its UK supermarkets with plans to scrap 2,500 items in favour of 'premium' food
Morrisons will overhaul its UK supermarkets by scrapping 2,500 items and replace them with premium farm shop style products, according to reports. The revamp - which is already underway in some UK stores - is being dubbed 'Morrisons Magic' and will be led by Director Andrew Staniland, as first reported by The Grocer. Its Warrington store has already undergone the transformation as part of an initial trial period which saw it add 500 new items to its range while removing 2,500. After the success, it is believed Morrisons could roll out the wholesale changes across all of its stores in the coming months. Morrisons' revamp will reportedly focus on its Market Street range, where shoppers can currently purchase fresh meats, fish, greens and baked goods. This area in stores is set to be transformed into something resembling a farm shop, marketed at both rookie and skilled home cooks. These products will be sold in foil trays in which meats will be sauced, marinated and breaded before being sold ready to cook in an attempt to give items a 'premium' feel. Its new ready meal range will also allegedly feature a collaboration with sushi chain YO! in a move to widen its selection of cuisines. The planned overhaul is good news for bargain hunters with Morrisons having a 'laser focus on clear pricing and value'. This is said to include promotions on items like squash, bread and biscuits for as cheap as £1 or two for £3. There will also be a three for £5 fresh fruit deal, a 'pick and mix' style bakery and pizza offer. However, its new meal deals will cost £6, a rise from £4 currently. Mr Staniland told The Grocer: 'It's early days, we are testing and we are learning, but the Morrisons Magic programme is now well underway. 'The trial in Warrington is going really well and customer reaction has been fantastic. Market Street's modernisation is continuing at speed and the farm shop influence and added-value fresh products is really catching our customers' eyes. 'And through the rest of the store the crisper, cleaner look is underscoring our value credentials, together with a tighter focus on customer favourites, some great innovations and some wonderful new products.' Morrisons has long insisted that its Market Street range is pivotal to the quality of its stores and would not be scrapped in future plans. But the chain announced in March that it would be closing 72 fresh meat and fish counters, and 13 florists across its store estate in an aim to cut costs. It also closed 52 supermarket cafes, 17 convenience stores, and 18 branches of its Market Kitchen.
The Sun
22-05-2025
- Business
- The Sun
Morrisons is making major change to all UK stores with new ‘premium' offers for shoppers
MORRISONS has revealed a major change coming to all of its UK stores, with new "premium" offers for shoppers. The popular supermarket chain has announced a shift towards selling more premium products as part of the branch's overhaul. 1 Andrew Staniland, the group trading director, told the Grocer: "The cirsper, cleaner look is underscoring our value credentials, together with a tighter focus on customer favourites, some great innovations and some wonderful new products." Morrisons' new project called "Morrisons Magic" aims to improve customers' experiences. The chain's launch of "Market Street" is part of its plan to modernise the brand. The change will focus on farm shop-style products, like value-added items such as foil trays for sauced, marinated, breaded, and ready-to-cook fish. Morrisons revealed that it hopes to make its Market Street more accessible to attract more "amateur home cooks". Their ready meal range will now include new world flavours, featuring a collaboration with Yo Sushi. Shoppers can enjoy a new £6 meal deal, a three-for-£5 fresh fruit offer, a pick 'n' mix bakery, and a tiered pizza deal. The major retailer is also introducing branded toys, with BrewDog Coca-Cola, Pepsi and Myprotein features. Despite the major changes, shoppers were concerned after the supermarket giant announced plans to shut 72 fresh meat and fish counters, 52 cafés, 17 convenience stores, and 13 florists in a bid to cut costs. Morrisons revealed it will shut all 18 of its Market Kitchen grocery/takeaway fusion sites - first launched at its Canning Town store in 2019. It comes after the supermarket giant has made a huge change to its loyalty scheme and shoppers can now earn EXTRA points towards their purchases. Morrisons shoppers can now earn More Points even when they're not shopping at the supermarket– thanks to a brand-new perk launching this week. From today, Morrisons More Card holders can collect points with over 300 popular brands including eBay, Just Eat, Expedia, Asos, Very, and loads more. The Morrisons More Card already enables shoppers to bank points on selected products by scanning their More Card or app. Once 5,000 More Points are collected, shoppers will be handed a £5 voucher – better known as a Morrisons Fiver – to redeem on their next shop in store or online. Previously, shoppers could only get the points by buying items from the supermarket only. However, the change now means that customers can now bag rewards on everything from takeaways and clothes to gadgets and holidays. To get the points, customers need to sign in to the Morrisons More app or website, browse the full list of partner retailers, click through to their chosen brand and shop as usual. As long as the purchase is made through the Morrisons site or app, the points are tracked and added automatically. This new way to earn is digital-only, so points can only be collected on external purchases made through the app or website – not by shopping directly with the brand. The latest shake-up comes as part of Morrisons' push to reward loyal customers and make it quicker and easier to earn money off future shops. Morrisons' wave of closures Morrisons has announced that several of their major and local stores will be closing down. In total, 52 of its cafes, 35 of its meat and fish counters and 18 of its Market Kitchen food courts will be closing down. Also, 16 Morrisons Daily locations were shuttered in April as part of a cost-cutting mission. The closed locations include: Lowestoft Road, Gorleston 3-5 Old Town, Peebles 214 Hutton Road, Shenfield Waterloo Estate, Poole Higham Lane Estate, Tonbridge The Cornmarket, Romsey Lainshaw Street, Stewarton Featherbed Lane, Selsdon 19 The Village, Haxby Queslett Road, Great Barr Oakfield Road, Whickham Queensway, Worle Strand Parade, Goring-By-Sea Westfield Road, Woking 40 Peach Street, Wokingham 51 Sidwell Street, Exeter Moorland Road, Bath Haxby, North Yorkshire
Times
16-05-2025
- Business
- Times
Premier Foods revenues up 3.5% at £1.14bn for last 12 months
Demand for premium-branded products helped the maker of kitchen staples such as Mr Kipling cakes and Bird's custard to deliver higher sales and profits last year. Premier Foods said headline revenues were £1.14 billion for the 12 months to March 29, up 3.5 per cent on the year before. Sales were buoyed by a 5.2 per cent increase in revenues across its branded business. Branded revenues in the group's sweet treats division, which includes Mr Kipling and licensed Cadbury products, saw revenues grow by 7.3 per cent to £233.8 million. Sales of Mr Kipling's Signature Collection premium ranges were particularly strong, with Premier Foods recording a 78 per cent jump in sales of its brownie bites, while revenues doubled for its 'best ever' mince pies.
