All articles by Alec Mattinson – Page 48
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NewsCity News: WH Smith buoyed by boosted airport sales as travel sector rebounds
WH Smith shares were buoyed by sales surpassing 2019 levels for the first time since the start of the pandemic
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NewsCity snapshot: Tesco sales fall back amid “unprecedented” cost of living increases
Tesco’s core retail sales fell back in its first quarter as CEO Ken Murphy warned of the impact of “unprecedented increases in the cost of living”.
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NewsCity Snapshot: Belerion ends £2bn THG pursuit
Belerion Capital has announced it has ended its £2bn pursuit of THG, with the online retail giant confirming it has rejected all recent approaches from potential suitors.
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NewsMedia Bites 15 June: Sterling, Ocado, Pret a Manger
The pound slumped to its lowest level against the dollar since the pandemic hit as traders braced for an aggressive interest-rate hike in the US
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NewsCity snapshot: Inflation to drive double-digit grocery growth by 2027
The UK grocery market is set for double-digit growth over the next five years, largely driven by inflation.
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NewsMedia Bites 13 June: Morrisons, Government food strategy, Tesco
The private equity owners of Morrisons are sounding out buyers for a portfolio of its warehouses, fisheries and food manufacturing plants that is expected to fetch more than £600m
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NewsFood & drink reformulation and drive to cut sugar boosts Tate & Lyle
The sweetener and sucralose supplier posted double-digit sales and profit growth from continuing operations after shedding its US industrial starches business last year
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NewsCity snapshot: Palm oil producer MP Evans reports 51% spike in prices in 2022
Palm oil producer MP Evans has seen its mill gate prices jump 51% in 2022 amid supply constraints and commodity inflation, while palm kernals are up 85%.
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NewsMinor Figures receives major investment from Danone’s VC arm and Green Monday
Plant-based beverages player Minor Figures has received a major investment from Danone’s venture capitalist arm and Hong Kong-based social enterprise player Green Monday Group
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NewsOnline drinks retailer Spirit.Ed falls into administration
The owner of online drinks retail and wholesale group Spirit.Ed, previously 31Dover, has fallen into administration following a period of “difficult” trading and an inability to raise new funding
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NewsCity snapshot: Tate & Lyle boosted by global reformulation drive
Tate & Lyle has posted double digit sales and profit growth from continuing operations as the drive to reformulate food and drinks boosted its performance. Plus trading updates from Poundland owner Pepco and British American Tobacco.
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NewsMedia Bites 8 June: M&S, Petrol prices, Tesco
The top three executives at Marks and Spencer could earn more than £15m between them for the current financial year if they hit targets
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NewsMoody’s upgrades Premier Foods on ‘resilient performance’
Ratings agency Moody’s said the company maintained strong key credit ratios and has built sufficient headroom to withstand continued industry headwinds
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NewsCity snapshot: Retail sales slide amid soaring prices and drop in major purchases
UK retail sales fell back 1.1% in May as the cost-of-living crunch blunted consumer demand and consumers shunned higher value items
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NewsMedia Bites 6 June: MFG, Grubhub/Just Eat Takeaway, Unilever
One of the world’s biggest oil producers is contemplating a multibillion pound takeover bid for Motor Fuel Group
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NewsUnited Biscuits sales drop amid ‘unprecedented’ year
The UK’s biggest biscuit maker United Biscuits suffered a drop in sales and profits last year due to “unprecedented challenges” in the category
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NewsCity News: B&M shares plummet on sales and profits downturn
B&M was a clear winner from the pandemic as its stores stayed open through lockdowns, but the City sent its shares down by double digits on Tuesday amid concerns over changing leadership and a downturn in sale and profits
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NewsMedia Bites 1 June: Unilever, B&M, Brewdog
The appointment of the Trian Fund Management founder has heightened expectations of a drastic overhaul at Unilever
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NewsIllycaffè sales rebound to pre-pandemic levels as out of home consumption returns
Italian coffee giant Illycaffè posted consolidated revenue for 2021 of €500m, a 17.4% increase compared to 2020
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NewsOils specialist KTC acquired by private equity player Endless
Oils and canned produce specialist KTC Edibles has been acquired by UK private equity player Endless following a process first revealed by The Grocer