All articles by Alec Mattinson – Page 120
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NewsMedia Bites 18 April: M&S, PepsiCo, Danone
Marks & Spencer has slashed prices on almost 500 of its most popular food items as it scrambles to win back customers and arrest its declining sales.
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NewsMedia Bites 17 April: Asda, Morrisons, Johnson & Johnson
Asda has been accused of planning to cut the pay of 3,000 supermarket staff, under proposed changes to employee contracts that will end paid breaks (The Guardian). Britain’s second biggest supermarket chain Asda has been accused of trying to disguise a pay cut for thousands of staff, ...
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NewsCity snapshot: Card Factory profits hit by mounting costs
Greeting cards and gifts chain Card Factory has posted flat like for like annual sales despite a “tough consumer environment” but saw profits hit by rising costs. Plus, all the rest of the latest news from the City.
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NewsMedia Bites 16 April: Sainsbury's/Asda, Brexit, Greggs
Sainsbury is set for a major shake-up under new chairman Martin Scicluna if its £14bn merger with Asda is blocked, analysts have warned.
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NewsUS expansion boosts first half sales at WH Smith
Travel revenues continues to rise at WH Smith, which has announced 8% growth in first half sales after its acquisition of US travel retailer InMotion. Plus all the rest of the latest news from the City.
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NewsMedia Bites 11 April: Tesco, Reckitt Benckiser, Asda
“Drastic Dave’s Tesco shakeup pays off” writes The Times (£), after Tesco said the “vast majority” of its financial turnaround was complete.
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NewsTesco set to reveal bumper profits boost
Tesco is set to announce its biggest annual profit since the accounting scandal that dogged the UK’s biggest supermarket in 2014. Plus, board changes at Total Produce, a look forward to the week in the City and all the rest of the latest finance news.
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NewsMedia Bites 8 April: Tesco, Premier Foods, The Co-op
Tesco is working on a new loyalty scheme in the mould of Amazon Prime, which would give its tens of millions of shoppers greater incentives to sign up to the company’s bank and mobile phone services.
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NewsBumper sales at Inspired Pet Nutrition but profits fall back
The owner of pet food brands Wagg and Harringtons grew annual sales by 17.3% last year to £91.3m but profits were held back by its reluctance to push cost increases though to higher prices.
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NewsCity snapshot: Booming food sales drive profits boost at The Co-op
The Co-op has posted a double-digit rise in annual sales and profits last year as strong food performance boosted growth. Plus, March’s high street figures fail to rebound from Beat from the East all the rest of the latest news from the City.
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NewsMedia Bites 5 April: Brexit, High street, Mothercare
Cereal farmers have said leaving the EU without a deal would be “catastrophic” and the continued uncertainty is having a huge cost to business.
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NewsMothercare posts 10.8% annual UK sales slump
Baby and child retail specialist Mothercare has announced a further slump in a UK sales in its fourth quarter as it battles to turn around its struggling business.
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NewsMedia Bites 4 April: Brexit, US tobacco, Constellation Brands
The governor of the Bank of England Mark Carney has defended its gloomy forecasts for what a cliff-edge Brexit would mean and denied they amounted to scaremongering
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NewsKellogg’s sells US food assets to Ferrero for $1.3bn
Kellogg’s has agreed a $1.3bn (£1bn) sale of a number of non-cereal food assets to Italian confectionery giant Ferrero.
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NewsCity snapshot: Consumer confidence holds steady despite Brexit chaos
UK consumer confidence remained flat in March despite the unprecedented uncertainty surrounding the country’s exit from the EU.
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NewsMedia Bites 29 March: Dave Lewis, Brexit, Ocado
The boss of Tesco has criticised those who look down on shop jobs, accusing ministers of sidelining the retail industry and prioritising car and steel manufacturers.
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NewsDeal activity in 2018 unaffected by Brexit but value sinks
Food and drink deal activity remained buoyant in 2018 despite concerns over the impact of Brexit uncertainty, though the value of UK deals last year fell markedly.
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NewsCity snapshot: Casino plans €2.5bn of asset sales as its targets convenience and online growth
French hypermarket chain Groupe Casino has raised its target from the sale of non-core assets from €1.5bn to €2.5bn over the next year. Plus, the pound rises to multi-month highs as ‘no deal’ Brexit threat recedes and all the latest news from the City.
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NewsMedia Bites 14 March: Brexit, Spring Statement, Morrisons
The pound has jumped to highs last seen in June 2018 after Parliament rejected a no-deal Brexit and investors saw less risk of a disorderly exit from the European Union.
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NewsMedia Bites 12 March: Paul Polman/Unilever, Brexit, Inflation basket
Paul Polman, the former head of Unilever, took home €11.7m, including an annual bonus of nearly €2m, in a year in which the company faced heavy criticism.