All articles by Alec Mattinson – Page 217
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NewsJohn Lewis cuts final salary pension benefits
The John Lewis Partnership has announced a host of changes to its pension scheme as it looks to claw back an £840m pension deficit.
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NewsCity snapshot: Tesco closes in on new chairman
Tesco looks to be closing in on a new chairman after its two person shortlist for the role was reportedly cut to one over the weekend.
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NewsMedia Bites 2 February: Tesco, GCA, John Lewis
All the papers had John Allan closing in on the Tesco chairman role over the weekend after the withdrawal of Ian Cheshire from the process.
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NewsSeabrook Crisps up for sale as it explores all strategic options
Seabrook Crisps has hired corporate finance advisors McQueen to “explore all strategic options”.
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NewsDiageo sees improving sales trends despite first half revenue dip
Diageo CEO Ivan Menezes hailed an improved first half performance despite posting lower than expected sales this morning after a slowdown in Latin America and Asia.
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Analysis & FeaturesBernstein: “In current shape, the UK does not need Morrisons”
Morrisons’ investors may be breathing a sigh of relief after the supermarket’s near 10% share price recovery so far this year, but Bernstein analyst Bruno Monteyne poured the coldest of waters on the retailer’s recovery today.
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NewsBritvic first quarter revenues slide on tough UK trading conditions
Britvic has announced a 1.4% fall in GB revenues amid “challenging trading conditions”, but insists it remains confident of hitting full year profit expectations.
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Analysis & FeaturesTesco's corporate finance focus suggests more disposals are on the way
Tesco’s decision to beef up its in-house corporate finance is as clear an indication as any that the restructuring job at the under-pressure supermarket is far from over.
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NewsNestlé under pressure: City News
International fmcg companies are already struggling for growth amid a global emerging markets slowdown…
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NewsB&M Bargains' shares rise on Christmas sales uplift
B&M Bargains’ shares were up by over 5% this morning after it reported a like-for-like sales uplift of 4.5% in the 13 weeks to 27 December.
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NewsCity sceptical over supermarket share price rallies
Supermarket share prices recovered in early 2015, but City investors remain unconvinced the pain of last year is over.
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NewsGrocery deflation hits record high in the run-up to Christmas
Festive bargain-hunters got an early present as supermarket deflation accelerated to its highest level to date in the run-up to Christmas.
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NewsSABMiller hit by third quarter China slowdown
Peroni brewer SABMiller has reported a 1% dip in third quarter lager volumes, driven by a significant decline in China.
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NewsWH Smith focuses on margin as group sales slip again
WH Smith’s gross margin continues to grow, despite a 2% fall in like-for-like sales in the 20 weeks to 17 January.
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Analysis & FeaturesUnilever’s subdued revenue growth is only part of the story
Unilever shares were 2.5% down in early trading after it revealed a drop in full year revenues this morning and under par fourth quarter sales.
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NewsReckitt Benckiser fined £540k for share dealing reporting lapses
The UK’s Financial Conduct Authority (FCA) has fined Reckitt Benckiser Group £539,800 for “inadequate systems and controls” to monitor share-dealing by its executive team.
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Strong retail growth at Thorntons pulled back by commercial sales weakness
Thorntons has reported like-for-like retail sales growth of 7.8% in the run-up to Christmas, but total second quarter revenues fell due to poor UK commercial sales.
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NewsBooming Latin American sales help Carrefour post 3.9% annual revenue increase
French retail giant Carrefour has posted full-year organic sales growth of 3.9%, boosted by strong growth it Latin America.
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NewsOppo ice cream raises £300k through crowdfunding
Waitrose-listed Oppo ice cream has secured over £300k of crowd-sourced funding to support its ambitious expansion plans.
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NewsStandard & Poor’s joins Moody’s in cutting Tesco’s ratings to junk
Tesco’s corporate credit ratings have been cut to junk status by Standard & Poor’s, following Moody’s action last week.