All articles by Alec Mattinson – Page 49
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NewsCity snapshot: B&M names Alex Russo as new boss as sales fall back
B&M Bargains owner B&M European Value Retail has named current CFO and former Asda exec Alex Russo as CEO when current boss Simon Arora steps down as its annual results show an accelerating drop in sales. Plus, Unilever appoints activist investor Nelson Peltz to its board and all the rest of the latest news from the City.
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NewsBel UK eyes plant-based growth with Mont Blanc-Materne acquisition
The Babybel and Boursin producer has acquired the fruit-based healthy snacking business as part of a drive to become more fruit and plant-based
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NewsMedia Bites 30 May: Boots, Just Eat Takeaway, Sainsbury’s
India’s Reliance Industries and Apollo, the private equity firm, have become the frontrunners to buy Boots after the Issa brothers indicated that they were not prepared to pay the asking price
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NewsCity News: Premier Foods shares surge on beefed-up dividend and boosted profits
The Bisto and Paxo owner’s trading profits for the year to 2 April of £148.3m beat expectations
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NewsMindful Chef reports surge in growth amid healthy diet boom
Surging grocery growth and expansion into ready meals saw meal kit player Mindful Chef maintain strong growth last year on top of a record-breaking 2020
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NewsCity snapshot: UK retail sales rebound in April on grocery growth
UK retail sales recording a surprise bounce in April, growing 1.4% as higher spending on fuel, alcohol and tobacco booster overall figures
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NewsCity snapshot: Fever-Tree makes ‘sold’ start to 2022 despite cost pressures
Fever-Tree has said it has made a “solid” start to its financial year, trading in-line with expectations despite logistics disruption and inflationary pressures.
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NewsMedia Bites 18 May: Walmart, Britvic, Morrisons
Walmart shares endured their biggest fall in 35 years yesterday after costs and surging inflation in the retailer’s first quarter prompted it to cut full-year earnings guidance
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NewsMorrisons rescue deal for McColl’s priced at £190m
Morrisons has committed a total of £190.1m to rescue convenience chain McColl’s, administrator’s documents have revealed
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NewsCity snapshot: Out-of-home rebound boosts Britvic’s sales and profits
Britvic has posted a double digit rise in sales and profits as both in and out-of-home channels grew and immediate consumption bounced back to pre-Covid levels. Plus results from C&C Group and Imperial Brands.
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NewsMcDonald’s to exit Russia with sale of business
Global fast food giant McDonald’s has announced it will cease all operations in Russia after 30 years in the country due to its invasion of Ukraine
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NewsMedia Bites 16 May: Boots, HFSS, Tesco
The bid battle for Boots is expected to stretch into the next month at least after the three remaining suitors requested more information on recent trading
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NewsCompass Group is ‘a stock you have to own’ as new business opportunities open up
Compass Group shares were hammered during the pandemic, but the catering giant was back on the front foot this week
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NewsUK food and drink exports show patchy signs of recovery
Exports of food and drink from Scotland, Wales and north east England have enjoyed a strong recovery according to new figures from the Food & Drink Federation, but the picture is mixed
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NewsGreencore names former Morrisons boss Dalton Philips as new CEO
Philips will replace outgoing CEO Patrick Coveney
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NewsCity snapshot: Executive pay trebles at Tesco to over £12m
Tesco has paid out more than £12m to its senior leadership team as executive pay strongly rebounded at the supermarket last year
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NewsMedia Bites 13 May: Salmonella/Cranswick, Coca-Cola HBC, Deliveroo
More than 100 products containing cooked chicken have been removed from sale after a salmonella scare at a major supplier
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NewsCity Snapshot: Coca-Cola HBC sales soar despite suspension of Russian orders
Eastern European Coke bottle Coca-Cola HBC has posted a strong rebound in growth despite facing a “turbulent environment” due to disruption in major markets of Ukraine and Russia
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NewsMedia Bites 12 May: Tesco, Compass Group, Boparan
Tesco is to convert unused shop space into mini offices as the supermarket seeks to cash in on demand from home workers
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NewsNomad sales volumes and margins slide amid 'difficult' economic conditions
Frozen foods giant Nomad posted headline sales growth in the first three months of 2022 despite tough comparisons and “difficult” economic conditions, but organic sales were down as volumes dropped back